1.  Three Capital Management is an investment advisory firm that manages a variety of
     equity, fixed income and cash portfolios for clients: including Capital Preservation,
     Income, Income & Growth, Growth, and Aggressive Growth portfolios.
2.  This is considered an aggressive growth strategy and may be managed as a part of      your total portfolio or net worth.
3.  Investing involves a high degree of risk. Past performance is no guarantee of future      results. We do not guarantee the performance of the Portfolio Model; nor can we      assure you the market value of your investment will not decline -- or increase.      Although TCM continues to seek ways to reduce risk and increase return, there can      be no guarantee that the strategy will meet its objective; even while management      believes certain stocks may be overvalued or undervalued.
4.  Performance may vary due to the amount of capital invested, commissions and
     fees, and the timing of security purchases or sales.  
5.  Dividends are re-invested.
6.  TCM All-Cap Value Portfolio Model may invest in Depository Receipts or
     Depository Shares. Investments in foreign securities involve greater volatility,
     political, economic and currency risks, and differences in accounting methods.
7.  Asset allocations may change each year depending on potential investment      opportunities. The Portfolio Model is typically diversified across ten economic      sectors. Asset allocations may range from 100% U.S. equities to 100% non-U.S.      equities, and may range from 100% large capitalization equities to 100% small      capitalization equities.
8.  TCM All-Cap Value Portfolio Model may experience greater risk than the S&P 500      Index, Russell 3000 Value Index, or the S&P ADR Index.
9.  All performance valuations computed and reported in U.S. Dollars.
10. Indexes do not include brokerage commissions or fees.
11. Performance results for the TCM All-Cap Value Portfolio Model are presented
      before advisory fees, but after brokerage fees and commissions.  
           a. Three Capital Management's advisory fee schedule is as follows:
                   i.  First $100,000 1.50% per annum
                   ii. Over $100,000 1.00% per annum

Research Driven
The investment approach is based on research and focuses on companies of any size, located in any country, and traded in the United States. The TCM All-Cap Value Portfolio Model contains equity positions managed with a view towards capital appreciation.

Methodology
Generally, positions are held for at least a year to minimize tax consequences. Advisors use a bottom-up analysis for companies that typically have solid fundamentals and proven business model.

Fundamental Analysis
The analysis may include Price/Earning, Price/Book, Price/Sales, Price/Cash Flow, Dividend Yield or other valuation measures. Criteria for assessing the value of companies are subject to change.

American and International Holdings
Holdings typically consist of American based companies, but may also include international corporations. Past foreign investments have included companies based in: China, Sweden, Russia, Brazil, Netherlands, France, Colombia, United Kingdom, Italy, Canada, South Korea, Spain, Mexico, and Bahamas. The allocation for the TCM All-Cap Value Portfolio Model is subject to change from year to year.

Small to Large Size Companies
A TCM All-Cap Value Portfolio model is typically comprised of 100 companies with market capitalizations between $100 million and $20 billion. Security holdings are typically diversified across various sectors. All opportunities, regardless of market capitalization, may be evaluated for portfolio inclusion. Market capitalizations and the number of companies held in TCM All-Cap Value Portfolio Model are subject to change. Investments in smaller companies involve additional risks such as limited liquidity and greater volatility.

Next step: Managed Account Program

Please Note:

Three Capital Management does not provide tax advice. Please consult with a tax professional about your specific tax situation.

This program may experience high turnover in the future and brokerage commissions may reduce overall returns. The material in this web site is based on public information that we consider reliable. We do not represent that it is accurate or complete, and it should not be relied on as such.

All quarterly, annual, proxy information and other corporate communications of each investment holding will be sent from the corporation of investment to clients that are invested in this program.

Three Capital Management L.L.C. officers, family members, or employees may hold positions in the same stocks as clients.