Test for Tim and Tony

2. Dorado Multiplier Fund Ltd (or The Fund ) is an unlisted public investment company whose key investment objective is to generate a fully-franked net dividend yield of over 9% per annum for its investors, paid quarterly through the execution of a unique, proprietary investment strategy Overview

3. Fund performance since inception $ % Issue price per share for the founding investors $1.00 Total net fully-franked cash dividends paid per share from August 2003 to January 2006 $0.274 27.4% [represents a 10.5% annualised fully franked net yield] Gross amount of franking credits attached to fully-franked dividends paid $0.117 11.7% Unrealised increase in Fund net asset value per share as at 24 January 2005 $0.347 34.7% ______ _____ Increase in shareholder wealth $0.738 73.8% ( including the value of franking credits) Increase in shareholder wealth $0.621 62.1% ( excluding the value of franking credits)

4. Fund financial position per share (at 31 Dec 2005)

6. Investment strategy overview Conservative financial gearing Efficient tax structuring Intelligent portfolio management