Southey Capital Ltd

Ensign House, 2 Admirals Way

London, E14 9XQ
www.southeycapital.com
Distressed and Illiquid specialists

Sales and Trading +44 (0) 203 745 7940 pricing@southeycapital.com

Tuesday, May 16, 2017

Madoff and related feeder funds Bid / Offer

Thema International UCITS IE008869103 / IE0030487957 call desk call desk
Thema Cayman VGG800891084 call desk call desk
Luxembourg Investment Fund Claims / LU0225433936 call desk call desk
LuxAlpha SICAV LU0185938668 / LU0185941027 call desk call desk
Herald Lux Claims call desk call desk
Herald SPC Claims call desk call desk
Madoff Account Direct Claims Claims call desk call desk
Thybo Claims call desk call desk
Carat Lux Claims call desk call desk
Fairfield Sentry/Sigma Claims call desk call desk
Rye Broad Market Select claims call desk call desk
Further Sidepockets on request.

Life Funds, indication based on latest published NAV Bid / Offer

EEA Life EUR Acc Run-Off Cell Fund units 14.00 16.00
EEA Life EUR Class X Run-Off Cell Fund units 14.00 16.00
EEA Life EUR Class Y Run-Off Cell Fund units 14.00 16.00
EEA Life EUR Dist Run-Off Cell Fund units 14.00 16.00
EEA Life GBP Fund Acc Run-Off Cell Fund units 14.50 16.50
EEA Life GBP Fund Class Dist-Off Cell Fund units 14.50 16.50
EEA Life GBP Fund Class X Run-Off Cell Fund units 14.50 16.50
EEA Life Meteor Senior Life GBP Fund II Run-Off Fund units 14.50 16.50
EEA Life Meteor Senior Life GBP Fund Run-Off Fund units 14.50 16.50
EEA Life SEK Class X Run-Off Cell Fund units 13.00 15.00
EEA Life USD Fund Acc Run-Off Cell Fund units 15.00 17.00
EEA Life USD Fund Class I Run-Off Cell Fund units 15.00 17.00
EEA Life USD Fund Class X Run-Off Cell Fund units 15.00 17.00
EEA Life USD Fund Dist Run-Off Cell Fund units 15.00 17.00
EEA Life WAY Life Run-Off Cell Fund units 11.00 13.00
EEA continuing shares, prices available based on redemption date
ARM Asset Backed Securities SA Un-Issued bonds 14.00 16.00
ARM Asset Backed Securities SA Claim/bond 10.00 12.00
Policy Selection Assured Fund Fund units 4.00 6.00
Wealth Life 1 Fund units call desk call desk
Wealth Life 2 Fund units call desk call desk
Wealth Life 3 Fund units call desk call desk
Fortress International BVI Fund units 1.00 2.00
Life Settlemnts Holdings AG Fund units call desk call desk

Other Funds Bid / Offer

Axiom Legal Financing Fund Claims 2.00 3.00
Quadris Environmental Fund Claims 0.00 0.05
LM Investment Mangement Claims 10.00 11.00
First Mortgage Income Fund Claims 10.00 11.00
Harlequin Property Claims 5.00 10.00

Lehman Brothers Bid / Offer

Lehman Treasury BV Bond + Claim call desk call desk
LB UK Capital Funding LP XS0215349357
LEH Float PERP Corp 0.50 1.00
LB UK Capital Funding II LP LEH 5 PERP CorpXS0229269856 0.50 1.00
LB UK Capital Funding III LP LEH 3 PERP CorpXS0243852562 0.50 1.00
LB RE Financing No. 3 Claims Call Desk Call Desk
 Icelandics Bid / Offer
Glitnir Claims 15.00 16.00
Kaupthing Claims 94.00 95.00
Landsbanki Claims 50.00 51.00
BYR ( New notes ) Claims 20.00 24.00

Petroplus + TXU Bid / Offer

Petroplus Refining & Marketing Claims 1.00 2.00
Petroplus Refining Teesside Claims 10.00 12.00
PMAG Claims 2.00 3.00
PHAG various call desk call desk
TXU EPL Claims 2.00 4.00
TXU Europe ETL Claims 2.00 4.00
TXU Europe MGL Claims 2.00 4.00
TXU PPL Claims 1.00 3.00
TXU Eastern Funding Co. XS0108297044 Bonds 0.50 1.50
TXU Eastern Funding Co. XS0118715183 Bonds 0.50 1.50
TXU Eastern Funding Co. US873169AF34 Bonds 0.50 1.50
TXU Eastern Funding Co. XS0120779128 Bonds 0.50 1.50

Other Special Sits/Bonds

Abengoa Various Bonds 2.00 4.00
Ideal Standard XS0619621352 Bonds call desk call desk
Pescanova XS0617215099 Bonds 1.00 2.00
Noreco NO0010606320 Bonds 78.50 79.50
Noreco NO0010697030 Bonds 98.00 99.00
Muehl DE0003504171 Bonds 1.50 2.00
A-Tech Various Bonds 0.25 1.00
KTG Various Bonds 2.00 3.00
Q-cells Bond/Claim call desk call desk
Rickmers DE000A1TNA39 Bonds 6.00 8.00
Isolux XS1527712233 Bonds 4.00 5.00
Mox Telecom DE000A1RE1Z4 Bonds 3.50 4.50
Technicolor FR0010237016 Bonds/Warrant 0.25 1.00
German Pellets GmbH DE000A13R5N7 Bonds 1.00 2.00

Cuban defaulted sov Bid / Offer

Cuban CDR Ltd - Series A XS0229182737 Bonds EUR 23.50 27.50
Cuban CDR Ltd - Series B XS0229182497 Bonds CHF 23.50 27.50
Cuban CDR Ltd - Series C XS0229181846 Bonds YEN 19.00 23.00
Cuban CDR Ltd - Series D XS0229182067 Bonds EUR 28.00 32.00
Cuban CDR Ltd - Series E XS0229181689 Bonds YEN 26.00 30.00
Cuban CDR Ltd - Series F XS0229181507 Bonds EUR 18.00 22.00
Cuban CDR Ltd - Series G XS0229181333 Bonds YEN 18.00 22.00
Cuban Medium Term JPY / DEM Private instrument 25.00 26.50
Cuban Medium Term CHF Private instrument 25.00 26.50
Cuban Short Term JPY / DEM Private instrument 24.00 25.50
Cuban Short Term CHF Private instrument 24.00 25.50
Cuban trade related claims (mostly JPY) Private instrument 12.00 13.50
Cuban Unrestructured Private instrument 22.00 23.50

AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (No. 711717)

This document is for information purposes only and under no circumstances is it to be used or considered an offer to sell, or a solicitaion of an offer to buy, any
security. Southey Capital Ltd accepts no responsibility or liability for, and cannot and does not warrant the accuracy, quality, correctness or completeness,
merchantability or fitness whether arising from the negligence of Southey Capital Ltd or otherwise accuracy or completeness of any information contained
herein or any attachments, including any bids, offers, or quotations. Information in these runs can change without notice and does not suggest that an active
market exists for any individual claim, or necessarily suggest the level at which transactions in these claims could be effected. Information herein should not be
relied upon for valuation purposes.