Dawnay Day

Dawnay, Day was established in 1928 and has been under its present ownership since the early 1980s. It is a privately owned group operating in select markets around the world specialising in three main activities: property investment and fund management, financial services and principal investments.

Dawnay, Day:

• has net worth exceeding US$1.5bn
• owns gross assets in excess of US$4bn
• manages a further US$6bn of gross assets
• directly employs in excess of 700 staff
• indirectly employs in excess of 10,000 staff through companies it owns from its principal investments
• has businesses outside the UK in Europe, India, the United States, the Middle East and Australia
• is headquartered in Grosvenor Gardens, London SW1

The Group companies’ corporate advisory, client trading, investment management and insurance broking activities are authorised and regulated by The Financial Services Authority.

Dawnay, Day companies are members of the London Stock Exchange, the London Investment Banking Association, the London Metal Exchange, London Platinum and Palladium Market and the Alternative Investment Management Association AIMA.

Protected Commodities Accelerator VI

We are once again working with Dawnay Day Quantum to distribute their latest structured investment offering, Protected Commodities Accelerator VI, which will be launched in December 2006. Following on from their first five commodities based products, this version is designed with 100% capital protection and offers clients geared exposure to commodity prices as their upside potential.

Highlights are as follows:

• This is a 6-year medium term note which carries a 100% capital protection at maturity provided by a very well known UK Financial institution rated AA.

• Performance is linked to an equally weighted portfolio of 8 commodities comprised of Copper, Aluminium, Nickel, Lead, Zinc, Crude Oil, Natural gas and WTI Oil.

• Returns will be 180% of any rise in the price of the portfolio of commodities at the end of the 6-year term.

• Liquidity is provided through a monthly dealing facility, although the protection will not apply to those investors who redeem their holdings before the maturity date.

• The formal offer period of this product will run from 16th October until 23rd November 2006.

This is another excellent opportunity for clients to get exposure to an asset class which is not correlated to equities and bonds and appears to be at the beginning of a long-term bull market run due to growing global demand and the continued inflexibility of supply.

Protected Commodities Accelerator Turbo - is the same as the above but with 210% return with 90% capital protection at maturity.

As at the end of September 2006, the previous launches had performed as follows;

PCA I +52.7% since 12th November 2004

PCA II +41.08% since 4th March 2005

PCA III +41% since 15th April 2005

PCA IV +43.06% since 1st July 2005

PCA V +27.67% since 2nd December 2005

These performance figures do not include the full gearing, as this is only applied at maturity.

Pounds Sterling denominated. Minimum investment £15,000.

Invest through ^{investoffshoredirect.com} and the initial allocation is increased