Taurus Hedge Fund Launches

We are pleased to announce the launch of the Taurus Global Resources Hedge Fund. The strategy started official trading on 1 February 2010. As you may recall, the Taurus Global Resources Hedge Fund reflects a similar investment strategy the strategy we managed previously at Craton Capital.

Taurus Global Resources Hedge Fund: The Taurus Global Resources Hedge Fund Limited Partnership, the Taurus Global Resources Hedge Fund Limited and the Taurus Global Resources Hedge Fund LLC - collectively the "Fund" - aims to provide investors with a risk-managed exposure to the global resources sector whilst minimising the volatility and drawdowns of commodity-like investments. The investment strategy is based on longshort equities with some physical commodity exposure (eg, swaps, ETFs, derivatives). Returns are expected to be generated by buying stocks and sectors we expect to outperform and short selling stocks and sectors we expect to underperform allowing us to take advantage of relative value spreads between the long and short portfolios. An example of this would be buying steel making raw material stocks and selling steel manufacturing stocks in expectation of a quicker recovery in iron ore and coking coal prices during the initial stages of an economic recovery and a slow, muted and late stage recovery in steel prices due to much lower levels of capacity utilization and supply discipline amongst steel manufacturers.

Taurus Funds Management: Taurus Fund Management Pty Limited ("Taurus") is an Australian based fund manager specialising in the management of natural resources and commodity funds. We currently manage four resources strategies including private equity, long-short and long only strategies investing in the full spectrum of basic materials and commodities globally. These include Metals and Mining, Energy, Chemicals, Steel (inclinputs) and Paper. We invest globally in Africa, Europe, North America, South America and Asia. Our team includes mining engineers, geologists, mining financiers, project developers and resources portfolio managers. Taurus' business is owned by staff and M.D. Sass-Macquarie Financial Strategies, LP. (a Macquarie Australia/MD Sass USA managed private equity fund). The Taurus team has collectively over 170 years of experience in resources investing, banking and engineering and includes highly technical personnel including two former CEO's of large mining companies. Our skill set and extensive global mining network allows us to navigate, research and deploy capital in this highly technical sector. In addition, our team has a long track record in managing global resources hedge funds.

If you require additional information on the strategy, please call us directly or mail.

Best regards,
Mohendra and Brenton
Mohendra Moodley
Director
Taurus Funds Management Pty Limited

: +61 283 145 512 (Direct)
: +61 408 114 763 (Mobile)
: +61 283 145 555 (Fax)
: mmoodley@taurusfunds.com.au