Crystal Fund II Offshore, Ltd.

Crystal Fund II Ltd. is a closed-ended fund that started ramping up in March 2006.
The final closing is expected for Q3 2007.

Crystal Fund II distributes to its investors on a quarterly basis all the interest received from its assets minus the expenses.

Indicative Terms

Investment Manager - Oristan Ltd.
Structuring Agent - Credit Suisse
Offering - Shares
Initial Closing Date - March, 2006
Final Closing Date - Q3 2007 (target)
Distribution Frequency - Quarterly
Management Fees - 1% per annum
Incentive Fees - 20% of the distributions after capital contribution returned to the investors plus a hurdle rate
Reinvestment Period - 5 years, during which proceeds from sales or redemptions may be reinvested
Bloomberg Page: CRYSTA2 KY <Eqty>

Portfolio Guidelines