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This is not an offer to sell securities or the solicitation of an offer to purchase securities. Any offer of securities in any sponsored job fund may only be made pursuan to a written offering memorandum and any sale of securities in such fund shall be evidenced by a subscription agreement executed by the potnetial investor. The units will be offered and sold (i) outside of the united state in reliance on regulation s under the securities act and (ii) inside the united states under the exeption from registration provdied by section 4(2) of the securities act and regulation d promulgated thereunder and other expemptions of simular import pursuant to the laws of the states and jurisdictions where the offering will be made. No offer to sell or solicitation of an offer to buy units may be made in any jurisdiction in which, or to any person to whome, it is unlawful to make such an offer or sale.