Selective Asset Management Inc.

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This communication is published by Selective Asset Management Inc. (SAMI) and/or Selective Asset Management G.P. Incorporated ("SAM G.P."), as applicable. Any commentaries and information contained in this communication are provided as a general source of information and should not be considered personal investment advice. Every effort has been made to ensure that the material contained herein is accurate at the time of publication. However, neither SAMI nor SAM G.P. can guarantee its accuracy or completeness or accept responsibility for any loss arising from any use of or reliance on the information contained herein. Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with hedge fund investments. Performance returns for the Selective Asset Long-Baised Equity Hedge Fund LP is net of all expenses. Please read the offering memorandum for the Selective Asset Long-Baised Equity Hedge Fund LP carefully before investing. Unless otherwise indicated and except for returns for periods less than one year, the indicated rates of return are the historical annual compounded total returns including changes in security value. All performance data assume reinvestment of all distributions or dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Investments in hedge funds are not guaranteed, their values change frequently and past performance may not be replicated in the future. Hedge fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. If you are a Canadian resident, you can obtain the offering memorandum from your financial adviser or from SAM G.P. by calling 416-640-4237. Facts and data provided by SAMI, SAM G.P. and other sources are believed to be reliable when posted. Neither SAMI nor SAM G.P. can guarantee that they are accurate or complete or that they will be current at all times. Information on this website is not intended to provide legal, accounting, investment or tax advice, and should not be relied upon in that regard. SAMI and/or SAM G.P. and its affiliates will not be responsible in any manner for direct, indirect, special or consequential damages howsoever caused, arising out of the use of this web site. Users of this web site shall only be entitled to copy pages of the web site for their own personal use but may not republish nor reproduce any substantial part of this web site in any manner whatsoever, including electronically reproducing the web site by "uploading," "downloading" or accessing the web site on to the Internet or any other local or international computer system, without the prior written permission of SAMI and SAMI G.P.. An acknowledgment of the source must be included whenever SAMI or SAMI G.P. material is copied or published. If you require further information on a permitted use or license to reproduce or republish any material, address your inquiry to Selective Asset Management Inc and Selective Asset Management G.P. Incorporated 120 Adelaide St. West, Suite 910, Toronto, ON, M5H 1T1.

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