Grand-Jean Capital Management

COMPANY OVERVIEW

Grand-Jean Capital Management, Inc. provides equity portfolio management primarily to individuals. Founder and President Steven Grand-Jean spent a 20-year career in investment banking with Salomon Brothers and Montgomery Securities where he developed insights and management relationships across a wide variety of industries. The officers of the firm invest substantially all of their liquid equity assets in the same securities as their clients.

Year Founded: 1990

Fee Structure: 1.25% annual fee on assets up to $5 million; 1.00% on assets over $5 million. Fee payable quarterly.

Incentive Fee: None.

Liquidity: Clients can request to terminate their investment advisory agreement and liquidate all positions with one business day’s notice.

Transparency: Full transparency on positions held and trading activity.

Account Structure: Each account is managed individually, but accounts generally hold the same securities in more or less the same percentages.


Company Overview Investment Philosophy Investment Process Services Professional Biographies	COMPANY OVERVIEW Grand-Jean Capital Management, Inc. provides equity portfolio management primarily to individuals. Founder and President Steven Grand-Jean spent a 20-year career in investment banking with Salomon Brothers and Montgomery Securities where he developed insights and management relationships across a wide variety of industries. The officers of the firm invest substantially all of their liquid equity assets in the same securities as their clients. Year Founded: 1990 Fee Structure: 1.25% annual fee on assets up to $5 million; 1.00% on assets over $5 million. Fee payable quarterly. Incentive Fee: None. Liquidity: Clients can request to terminate their investment advisory agreement and liquidate all positions with one business day’s notice. Transparency: Full transparency on positions held and trading activity. Account Structure: Each account is managed individually, but accounts generally hold the same securities in more or less the same percentages.

One Market - Steuart Tower Suite 2600 San Francisco, CA 94105 415-512-5430	All equity investing entails risk of loss. Grand-Jean Capital Management, Inc. cannot assure any potential client that it will achieve the investment objectives or returns comparable to the historical returns discussed in these materials. In addition, the material in this web site includes forward looking statements based on the firm’s experience and expectations about the securities markets. Those statements are sometimes indicated by words such as “expects,” “believes,” “seeks,” “may,” “intends,” “attempts,” “will,” and similar expressions. The forward looking statements are not guarantees of future performance and are subject to many risks, uncertainties and assumptions that are difficult to predict. Therefore, actual investment returns could differ materially and adversely from those expressed or implied in any forward looking statements. The firm undertakes no obligation to revise or update any forward looking statements for any reason. All contents ©2005 Grand-Jean Capital Management, Inc.