Renaissance Opportunity Portfolio I (the "Portfolio") The Portfolio was organized as a trading fund for the purpose of generating profits thought investments in fixed income securities in the Asia region, primarily Indonesia. The Manager primarily seeks to identify investments in severely discounted debt securities although it may acquire equities securities where the Manager can identify value. The following document summarizes the Portfolio's strategy and performance record for the periods between July 1998 to Dec 2002. [Attestation Report by E&Y] Renaissance Distressed Assets & Opportunity Fund (the "Fund") Renaissance Distressed Assets & Opportunity Fund will primarily seek to make passive investments in debt or equity securities of companies operating in Asia, particularly North Asia, that are i) in financial distressed ii) in bankruptcy, reorganization or liquidation, or iii) undervalued as a result of extraordinary events. The following document summarizes the key terms and investment strategies for the Fund. [Documents in progress] Note: The Fund is still in the process of being organized and thus information contained herein may change. Prospective investors will be notified of any such changes that are material.