Grand-Jean Capital Management

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.


Company Overview Investment Philosophy Investment Process Services Professional Biographies	SERVICES Each client portfolio is managed separately. This allows us the flexibility to tailor somewhat each individual’s portfolio and to be as tax-efficient as market conditions warrant. We have discretionary trading authority over accounts. Clients receive monthly brokerage statements and trade confirmations, as well as a quarterly performance review that we prepare. We also provide an unaudited realized gains and losses report at year-end. Management terms and conditions are set forth in our Investment Advisory Agreement, a copy of which is available upon request.

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.