STATE VENUS SUB FUND ONE

The objective of the Investment Compartment is to provide long term capital growth primarily by investing predominantly in carefully selected private equity and/or bonds issued by companies involved in the renewable energy sector and/or other green activities. There is no guarantee that the investment objective of the Investment Compartment will be achieved and investment results may vary substantially over time.

The Investment Compartment will seek to achieve its Investment Objective by investing in private equities, venture capital, bonds and/or other instruments of companies in the renewable energy sector and/or other green activities. The Investment Compartment will invest in shares with the intention of acquiring the control of private institutional organizations.

The Investment Compartment may invest in equity of companies with any market capitalization and nature of business activities, but will generally focus on large cap equity. The Investment Compartment may also invest in convertible equity and non-convertible preferred stock. Equity includes common stock, preferred stock, equity convertible into common stock, or equity or other instruments whose price is linked to the value of common stock.