NOTICE TO READER
The Aurum range of fund of funds currently comprise Aurum Aggressive Fund, Aurum Asia Pacific Fund Ltd ($,€,£), Aurum Eagle Fund Ltd, Aurum Europa Fund Ltd (€), Aurum Fortress Fund Ltd, Aurum India Fund, Aurum Investor Fund Ltd ($,€,£), Aurum Isis Fund Ltd ($,€,£), Aurum Isis Plus Funds ($,€, £), Aurum Multi Strategy Fund Ltd ($,€,£), Aurum Resource Funds ($,€,£), Aurum Spectra Fund Ltd, Aurum Synchronicity Fund Ltd ($,€,£), Aurum Universal Fund Ltd, Aurum Managed Portfolio Ltd ($,€,£) and Resonance Fund (“the Funds”). The Funds are standard schemes, under the Bermuda Monetary Authority (Collective Investment Scheme Classification) Regulations 1998.

ISSUER
This advertisement is issued and approved by Aurum Funds Limited of Ixworth House, 37 Ixworth Place, London, SW3 3QH, United Kingdom. The advertisement is directed at persons having professional experience in matters relating to investments in unregulated collective investment schemes, and should only be used by such persons or investment professionals. Persons who do not have professional experience in participating in unregulated investment schemes should not rely on material relating to such schemes. Aurum Funds Limited is authorised and regulated in the UK by the Financial Services Authority.

PURPOSE
The purpose of this material is to give information in respect of the Funds, which are sponsored by Aurum Fund Management Ltd, the parent company of Aurum Funds Limited. The Funds are not authorised or regulated under the provisions of the Financial Services and Market Act 2000. Accordingly, the Funds cannot be promoted or sold in The United Kingdom, other than under the exemptions permitted by the Act, in particular, the Financial Services and Market Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001. The Funds are not subject to the benefit of any compensation arrangements..

NOT AN OFFER FOR SALE
This notification does not constitute an offer of shares in any of the Funds. A prospectus for each of the Funds, on the terms of which an application for shares will be considered, can be obtained from the Funds’ administrators:

Northern Trust International Fund Administration Services (Ireland) Limited
Tel: +353 (0)1 670 0660
Fax: +353 (0)1 670 1181
George's Court, 54-62 Townsend Street
Dublin 2
Ireland

Email: Dublin.Aurum.Ta@ntrs.com

Subscription monies are not handled by Aurum Funds Limited and must be sent directly to the Fund administrator in accordance with the terms set out in the relevant Prospectus.

LIMITED APPLICATION
This material is only applicable to those qualified to receive the same in accordance with the Act and the Regulations thereunder and the Financial Services Authority rules, and is not for distribution in any State where distribution is prohibited by law. Prospective investors will be required to provide the information specified under the Money Laundering Regulations in Ireland.

INVESTMENT RISK
The Funds should be regarded as a high-risk investments. Each prospectus, upon the terms of which alone subscriptions will be accepted, sets out in detail the principal risk factors to be considered. Any investment in the Funds may be subject to sudden and large fall in value and losses on realisation could equal the amount invested. Redemptions of investment in the Funds are subject to the restrictions set out in the relevant Prospectus.

SUITABILITY
An investment in the Funds is only for the sophisticated investor who can afford the risk that an investment in the Funds may fall rather than rise in value. An investment in the Funds should be regarded as speculative and should not be used as a complete investment programme. The Funds do not pay dividends and are not suitable for investors requiring an income. If a prospective investor has any doubts about the nature or suitability of the investment advice should be sought from their own investment advisor.

ASSOCIATES
Aurum Funds Limited is wholly owned by Aurum Fund Management Ltd. of Bermuda, which effectively controls the Funds by ownership of the sponsor shares thereof and is investment advisor to the Funds, except for Resonance Fund Ltd where the investment advisor is Aurum-Mirelis Fund Management Ltd. Aurum Funds Limited gives investment advice to Aurum Fund Management Ltd and receives a fee for its services.

INVESTMENTS WHICH ARE NOT READILY REALISABLE
Shares in the Funds are valued regularly by the Administrator and may be redeemed in accordance with the provisions in the Prospectus; however the shares are not regularly traded on or under the rules of an investment exchange and accordingly prospective investors may not be able to sell or realise their shares (except by redemption) and they may not be able to obtain reliable information on value (except from the Administrator) or the extent of the risks to which they are exposed. The Funds invest from time to time in assets which also may not be readily realisable and the Fund may find it difficult to sell or realise such assets or to obtain reliable information about their value or the extent of the risks to which they are exposed. These matters may prejudice the ability of the Fund to value the Fund’ shares or make redemptions.

FOREIGN CURRENCY-DENOMINATED INVESTMENTS
The Fund may invest in assets denominated in currency other than Sterling. The shares of Aurum Europa Fund are denominated in Euros only while all the other funds have shares denominated in United States Dollars. Aurum Asia Pacific Fund, Aurum Investor Fund, Aurum Isis Fund, Aurum Isis Plus Fund, Aurum Resource Fund, Aurum Managed Portfolio and Aurum Synchronicity Fund also offer Euro and Sterling share classes where the objective is to secure as far as possible that there is no gain or loss from currency fluctuations. Changes in rates of exchange may have an adverse effect on the value price or income of investments.

PAST PERFORMANCE
Past performance is not necessarily a guide to future performance. The value of units can fall as well as rise.

RESTRICTED MARKET
Although the Funds are listed on the Irish and Bermuda Stock Exchanges (Resonance Fund listed on the Bermuda Stock Exchange only) there is no regular market in the Funds, but shareholders may redeem their shares at each month end (except in circumstances where redemptions are suspended) by giving the appropriate period of notice; please refer to the terms of the relevant prospectus.

WARRANTS AND DERIVATIVES RISKS
The Funds, or other investment funds in which they are invested, may invest in warrants or derivatives. These instruments contain specific risks different to other investments. On request, Aurum Funds Limited will provide copies of the Disclosure Statements approved by the Financial Services Authority thereon.