The Cambridge Strategy - Foreign Exchange Financial Trading Investment Management

EXTENDED MARKETS ALPHA PROGRAMME

Current Monthly Performance - December 2008

May 2007	June 2007	July 2007	Aug 2007	Sept 2007	Oct 2007	Nov 2007	Dec 2007	Jan 2008
Feb 2008	Mar 2008	Apr 2008	May 2008	June 2008	July 2008	Aug 2008	Sep 2008	Oct 2008

Nov 2008

Previous Day's Performance :                                                                                               +0.55%

Month to Date:                                                                                                                        -0.97%

Year to Date:                                                                                                                        +1.75%

12 Months to Date:                                                                                                              +3.11%

Historical Performance

Daily Return (as at close of business PT)

Date	NAV	Cumulative Return Month	VAR (Outright)	VAR (Adjusted)
1st December	192.38	-0.26%	0.60%	0.60%
2nd December	192.43	-0.23%	0.60%	0.60%
3rd December	191.23	-1.07%	0.60%	0.60%
4th December	191.04	-1.20%	0.60%	0.60%
5th December	192.26	-0.35%	0.60%	0.60%
6th December	192.26	-0.35%	0.60%	0.60%
7th December	192.26	-0.35%	0.60%	0.60%
8th December	191.50	-1.07%	0.60%	0.60%
9th December	191.02	-1.55%	0.60%	0.60%
10th December	190.87	-1.70%	0.60%	0.60%
11th December	190.52	-2.05%	0.60%	0.60%
12th December	189.69	-2.88%	0.60%	0.60%
13th December	189.69	-2.88%	0.60%	0.60%
14th December	189.69	-2.88%	0.60%	0.60%
15th December	190.10	-2.33%	0.60%	0.60%
16th December	190.99	-1.23%	0.60%	0.60%
17th December	190.44	-0.97%	0.60%	0.60%
18th December	191.39	+0.02%	0.60%	0.60%
19th December	191.39	+0.02%	0.60%	0.60%
20th December	191.39	+0.02%	0.60%	0.60%
21st December	191.39	+0.02%	0.60%	0.60%
22nd December	191.58	+0.12%	0.60%	0.60%
23rd December
24th December
25th December
26th December
27th December
28th December
29th December
30st December

**Figures are reported Gross.