TERMS OF USE

Welcome to FraternityFund.com's online service (the "Service"). As part of our service, FraternityFund.com provides you with data, news, information, statistics, data indices, e-mail service, and other computer services (" Material") that FraternityFund.com may decide to offer, subject to the terms of this Agreement. Upon notice published through the Service, FraternityFund.com may modify this Agreement at any time. You agree and continue to agree to use FraternityFund.com Services in a manner consistent with all applicable laws and regulations and in accordance with the terms and conditions set out in the policies and guidelines outlined below.

Non-Transferability of Access Membership:
FraternityFund.com grants to Registered User a personal, non-exclusive, non-assignable and non-transferable license to use the FraternityFund.com Service. Unauthorized copying of any Alternative Investment Material or duplication of any Alternative Investment Material in any manner, including any re-distribution of FraternityFund.com's "Printable Snapshot," including Alternative Investment Material or its underlying software that has been modified, merged or included with the Alternative Investment Material associated therewith is expressly forbidden. Registered User acknowledges that Registered User may not sublicense, transfer, sell or assign this license. Any attempt to sublicense, transfer, sell or assign the license is void.

Copyrighted Materials:

Unauthorized copies of copyrighted photographs, drawings, graphics, text or other writings, computer programs or other software, recordings or designs; files containing advertisements or solicitations aimed at persuading other members to use certain goods, services or products, or invest in certain alternative investment funds without the express written permission of FraternityFund.com; material of a sexually explicit nature, including photographs and text.

Copyrighted material, including without limitation text, photographs, sound, video and music, may not be placed on the Service without the express permission of the author or owner of the copyright on the material. Registered User acknowledges that only the owner or someone authorized by the owner to post the material may do so. The downloading of copyrighted material is allowed by Registered Users only for Registered Users' own use. Registered Users may not copy, reproduce, retransmit, distribute, publish, commercially exploit or otherwise transfer any copyrighted material. The burden of determining that any information, software or any other content on the Service is not protected by copyright rests with the Registered User. Registered User acknowledges that FraternityFund.com and/or third-party content providers remain the owners of the posted materials, and that Registered User does not acquire any of those ownership rights by downloading copyrighted materials.

E-Mail via FraternityFund.com:

Email is a part of FraternityFund.com's service designed for communication between Registered Users (investors and managers). FraternityFund.com reserves the right to take action against any Registered User who is defaming, harassing or otherwise offending another Registered User through e-mail, if it comes to FraternityFund.com's attention that this type of abuse is occurring, as is more fully set forth above in "Rules for Online Conduct."

Limitation Of Liability And Warranty

Registered User AGREES THAT USE OF THE SERVICE IS ENTIRELY AT Registered User'S OWN RISK. FraternityFund.com'S SERVICES AND ALTERNATIVE INVESTMENT MATERIALS ARE PROVIDED "AS IS," WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY FOR INFORMATION, SERVICES, UNINTERRUPTED ACCESS, PRODUCTS, GOODS, SERVICES, OR ALTERNATIVE INVESTMENT FUND INFORMATION PROVIDED THROUGH OR IN CONNECTION WITH THE SERVICE, THE RESULTS , INFORMATION, OR DECISIONS MADE OR OBTAINED THROUGH THE SERVICE. SPECIFICALLY, FraternityFund.com DISCLAIMS ANY AND ALL WARRANTIES,

INCLUDING WITHOUT LIMITATION:

1) ANY WARRANTIES CONCERNING THE AVAILABILITY, ACCURACY OR CONTENT OF INFORMATION, PRODUCTS OR SERVICES; AND
2) ANY WARRANTIES OF TITLE OR WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

THIS DISCLAIMER OF LIABILITY APPLIES TO ANY DAMAGES OR INJURY CAUSED BY ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DELETION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, COMMUNICATION LINE FAILURE, THEFT OR DESTRUCTION OR UNAUTHORIZED ACCESS TO, ALTERATION OF, OR USE OF RECORD, WHETHER FOR BREACH OF CONTRACT, TORTIOUS BEHAVIOR, NEGLIGENCE, OR UNDER ANY OTHER CAUSE OF ACTION. Registered User SPECIFICALLY ACKNOWLEDGES THAT FraternityFund.com IS NOT LIABLE FOR THE DEFAMATORY, OFFENSIVE OR ILLEGAL CONDUCT OF OTHER Registered UserS OR THIRD-PARTIES AND THAT THE RISK OF INJURY FROM THE FOREGOING RESTS ENTIRELY WITH Registered User.

NEITHER FraternityFund.com NOR ANY OF ITS AGENTS, AFFILIATES OR CONTENT PROVIDERS SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF USE OF THE SERVICE OR INABILITY TO GAIN ACCESS TO OR USE THE SERVICE OR OUT OF ANY BREACH OF ANY WARRANTY. Registered User HEREBY ACKNOWLEDGES THAT THE PROVISIONS OF THIS SECTION SHALL APPLY TO ALL CONTENT ON THE SERVICE.

Trademarks:
FraternityFund.com, the FraternityFund.com logo, are trademarks of FraternityFund.com and. All other trademarks appearing on the Service are trademarks of their respective owners.

Notice:
FraternityFund.com may give notice to Registered Users by means of a general notice on the Service, electronic mail to Registered User's e-mail address on record with FraternityFund.com, or by written communication sent by first class mail to a Registered User's address on record with FraternityFund.com. You may give notice to FraternityFund.com (such notice shall be deemed given when received by FraternityFund.com at any time by any of the following):

1. electronic mail to info@FraternityFund.com;
2. letter telecopied to FraternityFund.com at the following fax number: 599-9-767-2610;
3. letter delivered by first class postage prepaid mail or courier to FraternityFund.com at the following address:

Fraternity Fund Management Ltd.
Brakkeput Ariba 17
Curaçao
Netherlands Antilles
Tel : 599-9-767-1922
Fax : 599-9-747-2610
E-Mail : info@fraternityfund.com

Indemnification:
Registered User agrees to indemnify and hold FraternityFund.com harmless from any dispute which may arise from a breach of terms of this Agreement. Registered User agrees to hold FraternityFund.com harmless from any claims and expenses, including reasonable attorney's fees and court costs, related to Registered User's violation of this Agreement, including the Rules of Conduct or any information, software or other content placed on the Service by Registered User.

Choice Of Law:
This Agreement shall be construed and controlled by the laws of the State of New York. Further, any dispute arising from the terms of this agreement or a breach of this Agreement will be governed by the laws of the State of New York. Registered User agrees to personal jurisdiction by the state and federal courts sitting in the State of New York.

Merger Clause:
This Agreement constitutes the entire agreement between the parties with respect to the subject matter contained herein and supersedes all previous and contemporaneous agreements, proposals and communications, written or oral between FraternityFund.com representatives and Registered User. FraternityFund.com may amend or modify this Agreement or impose new conditions at any time upon notice from FraternityFund.com to Registered User as published through the Service. Any use of the Service by Registered User after such notice shall be deemed to constitute acceptance by Registered User of such amendments, modifications or new conditions.

FraternityFund.com Notice:
FraternityFund.com text, statistical graphs, data, photos, graphics, audio and/or video materials, or any other Alternative Investment Material shall not directly or indirectly be published, rewritten for broadcast or publication or redistributed in any medium EXCEPT Registered User may, for Registered User's sole use and information but for no other purpose and not for publication or redistribution, access and use FraternityFund.com's "Printable Snapshot" feature. Neither these materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. Registered User does not hold FraternityFund.com liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damage arising from any of the foregoing.