PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

The risk of loss in trading commodities can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. The high degree of leverage that is often obtainable in commodity trading can work against you as well as for you. The use of leverage can lead to large losses as well as gains.

A section of this web site provides information on managed futures accounts offered by Factor Asset Management LLC. In some cases, managed commodity accounts are subject to substantial charges for management and advisory fees. It may be necessary for those accounts that are subject to these charges to make substantial trading profits to avoid depletion or exhaustion of their assets.

The regulations of the Commodity Futures Trading Commission (CFTC) require that prospective clients of a Commodity Trading Advsor (CTA) or Commodity Pool Operator (CPO) receive a disclosure document when they are solicited to enter into an agreement whereby the CTA/CPO will direct or guide the client's commodity interest trading and that certain risk factors be highlighted. This brief statement cannot disclose all of the risks and other significant aspects of the commodity markets. Therefore, you should obtain the disclosure document and study it carefully to determine whether such trading is appropriate for you in light of your financial condition.

Many investments are available only to Accredited Investors as defined by Securities Exchange Commission regulations under the Securities Exchange Act of 1933 and/or to Qualified Eligible Persons (QEP) as defined by the Commodity Futures Trading Commission under the Commodity Exchange Act and are not suitable for all investors. Factor Capital Management LLC only manages the trading accounts of accredited and Qualified Investors, as defined.

Another section of this web site offers research conducted by Factor LLC to commodity and forex traders on a subscription basis. There is no quarantee that trading situations identified by Factor LLC will produce trading profits. Also, the subscription section of the web site does not provide trading advisory services. Members receiving subscription research are fully responsible for the exeuction of their own trading.

Historical performance information within this web site is included to illustrate the performance of Factor LLC. The results are not indicative of, and have no bearing on, the results that may be obtained by Factor LLC, its managed clients or members of its subscription research in the future.

The information contained within this web site does not consitute a solicitation to invest in any program included herein.