This fund is available to Investment Professionals only and to private investors. Reference in this presentation to specific securities should not be construed as a recommendation to buy or sell these securities, but is included for the purposes of illustration only. Investors should also note that the views expressed may no longer be current and may have already been acted upon by the Fund. Past performance is not necessarily a guide to future returns. The value of investments and the income from them can go down as well as up and investors may not get back the amount invested. For funds that invest in overseas markets, changes in currency exchange rates may affect the value of an investment. Investments in small and emerging markets can be more volitile than other more developed markets. The Prospectus for this fund is available from Invil on request. The Company is an unregulated collective investment scheme as defined in the Financial Securities Authority ("FSA") Handbook.

Glossary. The Company has not been authorised or otherwise approved by the FSA. Invil has obtained approval from the Securities and Exchange Board of India and the Reserve Bank of India to invest in India as a Foreign Institutional Investor ("FII") under Indian law.

Invil has been operating under this structure since 1996. The Fund is domiciled in Mauritius and benefits from the double taxation treaty between India and Mauritius.