5Th Anniversary Gala and Benefit Social Studies Classes and Through After-School Programs Where Students Contribute Intensive Community Service

100 WOMEN IN HEDGE FUNDS

Building with Books was founded in 1991 with a mission to enhance education and empower youth in the U.S. to make a positive difference in their communities while helping people in developing countries increase their self-reliance through education.

Building with Books operates within and beyond the classroom, engaging primarily urban youth through global education presentations offered within 5th Anniversary Gala and Benefit social studies classes and through after-school programs where students contribute intensive community service. Our programs are established in schools in New York, Connecticut, Michigan, Pennsylvania, Illinois and California. CELEBRATING INNOVATIVE Over the last five years, more than 7,000 youth in the U.S. have contributed APPROACHES IN EDUCATION over 200,000 hours of community service through Building with Books programs. 97% of the American high school students we have worked with over the last five years are now in college. Thursday, November 16, 2006

In addition to contributing community service locally, Building with Books students are also helping to build schools in remote villages in developing countries around the world. We have built schools on four continents and have just completed construction of our 180th school. There are now more than 79,000 children and parents worldwide who have attended schools built by Building with Books.

For more information, visit www.buildingwithbooks.org.

Teach For America’s mission is to build the movement to eliminate educational inequity by enlisting our nation’s most promising future leaders in the effort. We do this by building a corps of outstanding recent college graduates of all academic majors and career interests who commit two years to teach in urban and rural public schools and become lifelong leaders in ensuring educational equity and excellence for all children.

Since its inception in 1989, nearly 17,000 individuals have been placed as teachers in urban and rural communities across the country. Currently, there are nearly 4,400 corps members teaching in classrooms in 25 regions from New York City to Los Angeles, and from the Pine Ridge reservation in South Dakota to the Rio Grande Valley in Texas. Corps members work relentlessly to close the academic achievement gap for their students.

At the same time, more than 12,000 Teach For America alumni work for change from every professional sector, exerting leadership in education and social reform as teachers, principals, school board members, district leaders, policy makers, journalists, public health advocates, and pioneers in education reform initiatives.

For more information, visit www.teachforamerica.org. IN SUPPORT OF Thank you Teach For America for helping us & Building with Books make a difference.

HONORING Dr. Anne Dinning D. E. Shaw & Co., L. P. 100 Women in Hedge Funds’ Industry Leadership Award

Carl C. Icahn www.100womeninhedgefunds.org Icahn Management 100 Women in Hedge Funds’ Effecting Change Award 100 Women in Hedge Funds

5th Anniversary Gala and Benefit CHECK-IN/COCKTAIL RECEPTION

Bellini Cocktails sponsored by Ospraie Management Butlered hors d’oeuvres sponsored by Bay Harbour Management L.C.

National Anthem Kathleen Thren, Member of 100 Women in Hedge Funds SEI Investments

Opening Remarks Amanda Pullinger, President of 100 Women in Hedge Funds Aquamarine Fund

“100 Women in Hedge Funds Industry Leadership Award” to Dr. Anne Dinning Presented by David E. Shaw, D. E. Shaw & Co., L. P.

“100 Women in Hedge Funds Effecting Change Award” to Carl C. Icahn Presented by Maria Bartiromo, CNB C

DINNER

Toast Kristin Mott, DKR Capital & Stefanie Apicella, Old Hill Partners Inc. Auction Committee Co-Chairs 2006

Live Auction Eliza B. Osborne, Sotheby’s with: Michael Litt, FrontPoint Partners

Reaching Out for Education Natasha Fedorow, Gala PR and Volunteerism Chair 2006 Pine Grove Associates Inc.

Presentation of Check to Building with Books and Teach For America Juliette Cottrill, Gala Chair 2006 FrontPoint Partners

Closing Remarks

CIPRIANI DOLCI DESSERT BUFFET/OPEN BAR

Live Band “The Subscribers” Table of Contents 100 Women in Hedge Funds Association Inc.

100 Women in Hedge Funds Board of Directors 3 BOARD OF DIRECTORS About 100 Women in Hedge Funds Mimi Drake, Defiance Asset Management, LLC Kristin Fox, HedgeWorld 2006 Gala Committee 4 Dana B. Hall, D. E. Shaw & Co., L. P.

Honorees 5 Carol Kim, Lehman Brothers Mindy Posoff, NewMarket Capital Partners, LLC Chairs, Vice Chairs & Benefit Committee 6 Amanda Pullinger, Aquamarine Capital Management, LLC Eve Teich, Silver Point Capital Friends of 100 Women 7 Joan Werner, Ramius Capital Group

100 Women in Hedge Funds Angels 8-9

Live Auction, Committee & Auctioneer 10-11

Auction Rules 12

Auction Lots 13-21

ABOUT 100 WOMEN IN HEDGE FUNDS Auction & Gift Bag Donors 22 100 Women in Hedge Funds is a global association of more than 4,500 volunteers Pre-Gala Party 23 that seeks to make a difference in our membership, industry and community through unique educational programming, professional development initiatives and Special Thanks 24 philanthropy.

3 2006 Gala Committee Honorees CHAIR DR. ANNE DINNING, P h .D. Juliette Cottrill, FrontPoint Partners Anne Dinning was selected to receive the Industry Leadership Award for her

BOARD CHAMPION talent and passion for investing, her business ethics, and her unique insight into the hedge fund industry. Dr. Dinning joined the D. E. Shaw group in 1990, after Mimi Drake, Defiance Asset Management, LLC receiving a Ph.D. in computer science from New York University’s Courant Institute of Mathematical Sciences, where she won the Howard Grad Memorial Award for COMMITTEE MEMBERS Outstanding Ph.D. Candidate. From 1995 to 1999, she was the managing director Stefanie Apicella, Old Hill Partners Inc. responsible for the firm’s worldwide asset management activities and in 1996 was Sherrie Beehler, Oppenheimer & Co. Inc. responsible for the management of an international broker dealer business based Martha Dabagian, Goldman, Sachs & Co. in London. She retired in 1999, but rejoined the D. E. Shaw group as a managing director in August 2002. She directs various strategic initiatives and, along with Natasha Fedorow, Pine Grove Associates Inc. certain other managing directors, is responsible for the overall management and Felicity Fridman, McDermott Will & Emery LLP trading of the firm’s investment strategies. Dr. Dinning is a member of the Janice Hall, Merrill Lynch executive committee of D. E. Shaw & Co., L. P. and D. E. Shaw & Co., L.L.C. She Lauren Malafronte, Barclays Capital serves as chief investment officer of D. E. Shaw Investment Management, L.L.C., Kristin Mott, DKR Capital the investment advisory entity responsible for the management of benchmark- relative investment strategies, and is also a member of that entity’s executive Anita Hill Sands, Intuition Financial Placement, LLC committee. Dr. Dinning also serves on the University of Washington Foundation Board and is a member of the Leadership Council of the Robin Hood Foundation, a charitable institution that targets poverty in New York City.

CARL C. ICAHN

Carl Icahn will receive the Effecting Change Award for his outstanding contributions toward improving education. Among many charitable interests, Mr. Icahn’s Foundation for a Greater Opportunity established the Carl C. Icahn Charter School in New York City in 2001. Mr. Icahn has also established scholarship programs at Choate, Princeton, Yeshiva University, and Rippowam Cisqua School. The Carl C. Icahn Science Center, designed by I.M. Pei, stands as another example of Mr. Icahn’s commitment to education. His alma mater, Princeton University, houses the Carl C. Icahn Laboratory at the Institute for Integrated Genomics. The Carl C. Icahn Foundation has established additional institutes at the Benjamin N. Cardozo School of Law and the Wurzweiler School of Social Work. Mr. Icahn’s many business interests include managing the Icahn hedge funds and serving as the principal stockholder and Chairman of the Board of American Railcar Industries (one of the largest fleets of railcars in the U.S.) and as the Chairman of the Board of American Property Investors and the Starfire Holding Corporation.

4 5 2006 Sponsors 2006 Sponsors

CHAIRS FRIENDS OF 100 WOMEN

D. E. Shaw & Co., L. P. 100 Women in Hedge Funds Trader/Portfolio Manager PAC

Tudor Investment Corporation Alliance Bernstein BNP Paribas Equities & Derivatives VICE CHAIRS Cumberland Associates Goldman, Sachs & Co. Fidelity Prime Services Moore Capital Management, LLC FrontPoint Partners

BENEFIT COMMITTEE Alice Hackett and Tom Tesauro

Angelo, Gordon & Co. JPMorgan Balyasny Asset Management Kynikos Associates Bank of America Lehman Brothers Barclays Capital Merrill Lynch Bear, Stearns & Co., Inc. Morgan Stanley Bridgewater Associates, Inc. Och-Ziff Capital Citigroup Management Group Citigroup Alternative Investments Old Hill Partners Inc. Credit Suisse Optima Fund Management LLC DB Absolute Return Strategies Pine Grove Associates, Inc. Deutsche Bank PriceWaterhouseCoopers Ernst & Young LLP Ramius Capital Group LLC Eton Park Rothstein Kass FRM Americas LLC Karen Cook* Steinhardt Management Highbridge Capital Management, LLC Teach For America Hoplite Capital Management UBS Investment Bank Ivy Asset Management Corp. Willkie Farr & Gallagher LLP

Icahn Management

* Individual Ticket

6 7 Saluting Our Angels Our Charter Angels

Thanks to the vision and generosity of these women, the expenses of running Jane Abitanta Heather James 100 Women in Hedge Funds do not come out of our philanthropy proceeds. Donna Anderson Schole Lynnelle Jones Gabriela Bockhaus Ann Kaplan Colleen Baldwin Kathleen Kelley 2006 SUSTAINING ANGELS Lora Ballato Mari Kooi Marlene Berne Michele Kreisler Meg Bode Gena Lovett Jane Abitanta * Stephanie Brandley Diana McCarthy Christine Breck Jane Buchan Judy Mencher Jolyne Caruso * Kate Caldwell Virginia Parker Karen Cook * Jolyne Caruso Joanna Peters Anne Dinning Annette Cazenave Andrea Pincus Natasha Fedorow * Sheila Clancy Dana Pitts Allison Fillmore * Karen Cook Alexandra Poe Kay Garkusha Elaine Crocker Lisa Polsky Mary Beth Glauccum Suzanne Currie Anne Popkin Janice Hall Jacki Hoffman-Zehner * Julia Dailey Leslie Rahl Marjorie Kaufman Catherine Doyle Maria Ramirez Doreen M. Mogavero Linda DuCruet Helenmarie Rodgers Marilyn Okoshi Kathleen Dunn Rhonda Rosen Jan Scholes * Brenda Earl Marsha Roth Mamak Shahbazi * Peggy Eisen Bonita Sarazin Stephanie Ercegovic Jan Scholes * Charter Angels Natasha Fedorow Mamak Shahbazi Allison Fillmore Elizabeth Smith Anne Marie Gagnon Marianne Smythe Karyn Geringer Tracy McHale Stuart Alissa Grad Ashley Tagatac Noreen Harrington Tracey Taylor Sharon Haugh Margaret Towle Lee Hennessee Beth Travers Elizabeth Hilpman Tracy Wills-Zapata Sharon Holden Young Patricia J. Young Donna Howe Jacki Zehner Iffat Islam

8 9 Live Auction Live Auction

2006 AUCTION COMMITTEE CHAIRS A UCTIONEER - ELIZA OSBORNE

Stefanie Apicella, Old Hill Partners Inc. Our Auctioneer will be Eliza Osborne, from Sotheby’s. Eliza has done a fabulous job for our Live Auction over the past two years and we are pleased to have her Kristin Mott, DKR Capital with us again this evening. Eliza Osborne has worked at Sotheby's since 1995, where she is a Vice President. She serves there under the auspices of the

AUCTION COMMITTEE & GALA VOLUNTEERS Chairman's Council as a client development liaison and focuses on key client relationships. Additionally, she is an auctioneer and oversees the New Collectors Sue Aguilar Council. Previously at Sotheby's, she ran the bid department, which handles all organizational aspects of their New York auctions. Grace Aslanian, JNK Securities Kerry Baldwin, Trigram Capital Yvonne Beri, The Davenport Group A UCTION CHAMPION - MICHAEL LITT Lara Casano, Pali Capital Inc. Michael Litt, Partner, Multi-Strategy Portfolio Manager & Portfolio Strategist at Aileen Doherty, Jefferson Wells FrontPoint Partners. Prior to joining FrontPoint, Mr. Litt was a Managing Director Dorothea Donelan, Merrill Lynch at Morgan Stanley, spending 17 years in various capacities. More recently, Mr. Litt Gail Dysarczyk, Permal Group, Inc. ran the Global Pensions Group, Morgan Stanley's strategic coverage unit for Chief Katherine Hill, Wedge Alternatives LLC Investment Officers in the U.S. At FrontPoint, Mr. Litt co-manages the Multi- Constance Hunter, Coronat Capital Management, LP Strategy Fund and Enhanced Index Fund Series with his partner Gil Caffray. He Tom Lauria, Avtera Management authors much of the Firm's investment research on market and strategic portfolio topics. He received a Bachelor of Arts from the University of California, San Diego Sheila Leavitt, BlackRock Investment Management LLC and an MBA from the University of Chicago. AnnMarie Mazzella, Prebon Yamane USA, Inc. Megan McElroy, UBS Investment Bank Sarah McLane, UBS Investment Bank Andrea Pincus, Anderson Kill & Olick, P.C. Kelly Schmid, Consultant S. Jennifer Sellas, iVision International LLC Debra Sparks, LRG Capital Mayda Sharrow, C.I.C. Inc. Melissa Waiser, Pali Capital Inc. Amy E. Wilson

10 11 Live Auction Rules Auction Lots

1. All bids a1r.e binding. REV YOUR ENGINES!

Experience the excitement of an exotic high performance vehicle in person and at the races. First take a spin in a vehicle of your choice from Gotham Dream Cars, 2. Bids must start at the minimum bid and must be made in the increments New York’s premier exotic vehicle rental service. Choose from a stunning Ferrari 360 Spider or F430 or a Lamborghini Gallardo, Gallardo Spider or Murcielago or dictated by the auctioneer. any of Gotham’s amazing vehicles. Take your car out for a spin and head to Smith & Wollensky or any of their great restaurants for dinner on us.

3. The Rev Your Engines coup de grâce; 4 VIP passes to one 2007 Ferrari Challenge Auction items are subject to specific restrictions as dictated by the auctioneer race event in North America. Your VIP passes entitle you and three guests to par - and as displayed in the auction catalog. Items may not be exchanged unless ticipate in all race activities. The passes include access to the race’s exclusive expressly indicated in the auction catalog. Other restrictions may apply. Saturday night cocktail party, an event usually for drivers and guests only that is held at an exclusive venue in town. Included in your race day experience are “Hot Laps” where you will be driven around the course by a professional driver in their own race vehicle; a once in a lifetime experience for the race aficionado. 4. The highest bidder on an item will be awarded a congratulations and payment The Ferrari Challenge excludes airfare and the Formula1 event at the Circuit Gilles Villeneuve in Montreal. The form immediately following the live auction. Smith & Wollensky Gift Certificate is for $200. The Gotham Dream Car is for one full 24-hour weekday rental on a mutually agreed upon date.

5. Auction checkout will begin at the end of the evening in a designated 2. checkout area. If payment is remitted the night of the Gala, prizes may BUILD-A-BEAR WORLD HEADQUARTERS WORKSHOP TOUR be claimed and taken. Personal checks are accepted. ST. LOUIS, MO Credit cards are accepted up to $5,000. Kids! Bring your parents and four friends to St. Louis for a Bearrific® 2 day/1 night behind the scenes tour of Build-A-Bear Workshop. Have lunch with Founder and Chief Executive Bear, Maxine Clark and Milford, Chief Executive Dog! Visit Saint Louis Galleria, home to the original Build-A-Bear Workshop store and other store locations. Plus, each Guest receives a $50 Bear Buck$® gift card to make their own furry friend. This Bearrific package also includes round trip airfare for the whole crowd along with accommodations at Clayton on the Park and limo service during the entire visit!

All travel arrangements at discretion of Build-A-Bear Workshop. Winner, Guests and parents or legal guardians must travel together on the same itinerary. If winner and friends are under age 21, they must travel with and be accompanied by a parent or legal guardian at all times on the entire trip. Trip will occur before November 16th, 2007 on a date determined by Build-A-Bear Workshop and agreed upon by the Guest.

12 13 Auction Lots Auction Lots

3. 5. CHATEAU EXQUISITE IN NORTH CAROLINA’S OUTER BANKS ART IN NEW YORK—TRADITION AND INITIATION

"Chateau Exquisite" is a spectacular 9 bedroom, 8 1/2 bath seaside villa on the Begin at Sotheby’s with lunch for 12 people in their private Boardroom catered by Outer Banks of Corolla, North Carolina. Celebrate with your guests in a mansion Great Performances. Lunch will be followed by a private tour of your choice led that sleeps 24, provides breathtaking panoramic views of the Atlantic, and is by a Sotheby’s specialist with expertise in your chosen area whether it is American lavishly appointed with every comfort; exquisite decor, state-of-the-art theater Furniture, 19th Century European and British Paintings or any of the many areas with 100" screen, and a chef's dream kitchen. Enjoy private access to the beach, of interest represented by Sotheby’s specialists. This adventure is sure to delight! complete with a poolside tiki bar with fireplace, TV, wet bar and refrigerator. Plus enjoy golf membership and reduced green fees at The Currituck Club. Airfare for In addition to the tour, this package includes an exquisite collectible from painter four is included in this ‘exquisite’ package! Sheba Sharrow, “Life Must Flower,” an acrylic on canvas with dimensions of 54”h and 84”w. Sharrow is the recipient of numerous grants and awards and her work Many thanks to Deloitte for underwriting the travel for this deluxe package! belongs to many private, museum and corporate collections, including The Steelcase Corporation, The Armstrong Corporation, World Industries, Citibank, The pinnacle of fine living is yours for one spring, fall or winter week by mutual agreement. Holiday weeks are excluded. All trips are Saturday to Saturday. Offer expires November 30, 2007. The Cigna Corporation and The RiteAid Corporation, among others.

This package also includes a custom portrait of your child/children from mosaic portraitist Brooke Bradford Churchill. Churchill will create a fabulous “bookmark in time” mosaic portrait based in part on an interview with your family. Also from 4. Churchill, who is known for her colorful geometric miniatures, “Abstract Drawing” INDULGE ME! on paper 8” by 9”. Churchill’s work has been widely exhibited and is represented in many private collections. Start your “Indulge Me” experience with a visit to the BILL BLASS NEW YORK showroom where you will receive a $5,000 gift certificate to outfit yourself in To round out this fantastic “Art in New York” package, art consultant Steven Butz, luxury. The BILL BLASS NEW YORK Personal Styling experts will be on hand to who specializes in contemporary art and the work of emerging artists, will conduct help you assemble the perfect outfit. Then, take some time just for you; enjoy four a custom tour for you and 3 friends, of a select group of galleries in Chelsea and/or nights of elegant accommodations at The Mayflower Inn and Spa. Receive a Williamsburg highlighting the pleasures and economics of contemporary collecting. personal assessment of your needs, goals and preferences and enjoy three healthy spa cuisine meals a day and unlimited access to all scheduled treatments includ - ing Active Body and Mind-Spirit classes and Salon services. Keep your skin glowing with a basket of all natural Dead Sea Salt based bath and body products 6. from Sabon NYC, Inc. THE AMAZIN’ METS

Next, invite fifteen of your closest pals or get the office over to Physique 57 for a Join the "Amazin New York Mets” for a fun-filled day at the ballpark. Experience 57-minute private workout using isometric movements and a ballet barre that will a "game to remember!" Situated on the 3rd base line, Box #23 has a panoramic leave your muscles strong, lean and limber! Now that you are dressed, buffed and view of Shea Stadium. Enjoy the game inside while watching the action on TV, in shape, head-out for the Great White Way with tickets for two to Wicked, The or outside on the covered patio in one of the 15 stadium seats. This luxurious Musical and a dinner or night-cap at P.J. Clarke’s. corporate box is ideal for entertaining family, friends or clients. The package

The Mayflower Spa Experience runs Sunday-Thursday, is based on availability and expires November 30, 2007. includes; reserved seating for 15 people, sliding glass window, in-box TV, waiter Please allow two weeks advance notice for the Physique 57 class. Tickets for Wicked will be determined after service with beverage and food service, private bathroom and 2 parking passes. mutual agreement and are available for performances between January 2, 2006 and May 31, 2007. The Bill Blass gift certificate is good until November 16, 2007. The P.J. Clarke's Gift Certificate is for $200. Package must be used during the 2007 season on a mutually agreeable date.

14 15 Auction Lots Auction Lots

7. 9. GET PACKIN’ 2007 – SOME LIKE IT HOT, SOME LIKE IT COLD “STRIKE A POSE” WITH FAÇONNABLE & VOGUE

Indulge yourself with the luxury of shopping at Façonnable with a chic fashion Enjoy two great trips – one hot and one cold! First, take-off for a wonderful, chilly insider. A Vogue merchandising editor will be at your side as you shop – guiding adventure in Mt. Crested Butte, Colorado. Mt. Crested Butte rises dramatically you in choosing the best looks for the season to complement your individual style. from the surrounding plain. It offers wonderful skiing and perfectly situated bars From selecting beautifully tailored coats and jackets to layering elegant sports - and restaurants on the mount or in the charming village. Included in this trip is a wear, you will have the pleasure of building a $3,000 wardrobe worthy of the six night stay in a spacious 2 bedroom/2 bathroom condo located in the heart of pages of Vogue. Mt. Crested Butte, two four-day lift tickets and round-trip airfare for two.

Next, warm up with a four-night trip to Las Palomas Resort located in Puerto You will also have the chance to put your new wardrobe to use with a personal Peñasco, Mexico. Enjoy this private and luxurious oceanfront enclave minutes portrait sitting with the renowned fashion photographer Rennio Maifredi, whose from Puerto Peñasco’s restaurants, shops and nightlife. Relax while you warm-up stunning images have appeared in multiple international editions of Vogue, Allure, poolside and unwind on the sand beaches and then head out for a day golf at the New York Times Magazine and many other top publications. Known for his artful Las Palomas’ 18-hole golf course. This trip includes a 4-night stay in a luxury 2 sense of lighting, Mr. Maifredi will capture your fashion moment with a studio por - bedroom/2 bathroom apartment, golf outing and round trip airfare for two with trait shot in New York City. car rental. Thank you to Pali Capital for underwriting the travel for this exciting package.

Both trips must be taken prior to November 30, 2007 and are based on availability. Puerto Peñasco is located 60 miles South of the Arizona border. Flights are in and out of Phoenix. 10 . A WEEKLONG GRECIAN ESCAPE ON CORFU

Embark on a Grecian escape beginning with an evening flight for two on Olympic 8. Airlines. An early morning arrival at the Eleftherios Venizelos International Airport in Athens is just the way to start a new day; private car service will be on hand to BEHIND THE SCENES whisk you away to your accommodations in the historic center of Athens where you will enjoy an overnight stay at the Electra Palace Hotel Athens. The Electra is You will be the coolest parent!! Your teenager and three friends will gain access within walking distance of ancient monuments including the renowned Parthenon to a Live Taping of MTVs Total Request Live (commonly known as TRL) plus an on Acropolis. Continue the journey the following afternoon on a short flight to the exclusive studio tour. 'Total Request Live' is an hour-long daily show broadcast Ionian island of Corfu, where once again, private car service awaits you. Nestled live from MTV's studios in the heart of Times Square. Hosted by a rotating in the scenic Town of Sidari, situated on the Northwestern coast of the island is the group of VJs, 'TRL' brings the hottest music and biggest celebrities to television Socrates Hotel where you will enjoy a weeklong stay in a private apartment over - audiences. And for the Parents – you and three guests will attend a taping of the looking the Ionian Sea. Ensuring a peaceful retreat, the Socrates Hotel sits just Daily Show with Jon Stewart and The Colbert Report. The award-winning Daily steps away from white sandy beaches and is ideal for enjoying exquisite views of Show with Jon Stewart is heralded as the most trusted name in fake news! Jon’s the sea, poolside lounging and relaxing away from the crowds. political satire and wit is certain to make you cry with laughter as well as keep you abreast of the world’s top stories. What The Daily Show with Jon Stewart is to This trip includes round-trip airfare for two from New York to Athens and from Athens to Corfu. Also includ - evening news, The Colbert Report is to personality-driven pundit shows. Colbert ed is round trip local transportation in Athens and Corfu. This package expires September 30, 2008. brings his sarcastic charm to a half-hour report, tackling the important issues of the day and telling his guests why their opinions are just plain wrong.

MTV tour must be used by December 31, 2006 and The Daily Show and The Colbert Report must be used by November 16, 2007.

16 17 Auction Lots Auction Lots

11. 13. GET WHISKED AWAY TO SUGAR BAY EXPAND YOUR MIND DISCOVERY BAY, JAMAICA! Expand your mind and your influence with two great opportunities. First, you are One week of Jamaican magnificence! With its own sugary white sand beach, invited to attend a seminar taught by Professor Jeffrey D. Sachs followed by a one lapped by the turquoise waters of Discovery Bay sits the exquisite home Sugar hour one-on-one meeting in his office. Named "the most important economist in Bay. Discovery Bay is a pristine aqua jewel on Jamaica's north coast boasting the world," by New York Times Magazine, Professor Sachs was also twice named some of the Island's most beautiful private homes. Sugar Bay is one of the most to Time Magazine's list of 100 Most Influential Leaders in the World. He is Special luxurious with 5 air-conditioned bedrooms, 5-1/2 baths and full staff: butler, cook, Advisor to United Nations Secretary, Kofi Annan, on the Millennium Development housekeeper, laundress, gardener, a 15' x 30' pool, hot tub and outdoor barbecue. Goals and is Director of The Earth Institute and Quetelet Professor of Sustainable The house also includes two seaside gazebos and a laykold tennis court with ball Development at Columbia University. For more than 20 years Professor Sachs machine and lights for night play. That’s not all, sea kayaks, boat dock, snorkeling has been at the forefront of the challenges of economic development, poverty equipment and a water trampoline are also included. alleviation, and enlightened globalization. The opportunity to speak with this world changing expert will truly expand your mind and your perception of The two seaside gazebos provide wonderful platforms for watching glorious poverty in the world. sunsets across the bay. Home-cooked meals are served on the verandah, or guests may opt to dine in the country-French indoor dining room, a quietly Next, enjoy two tickets to the World Business Forum 2007, where great minds and elegant space featuring a unique hand-carved sideboard and rush woven chairs. wonderful speakers come together and share their thoughts. Speakers confirmed As a special treat, the staff will plan a torchlight beach party with chicken, lobster, for participation include: Carl Icahn, Alan Greenspan, Michael Eisner, Jack Welch tenderloin or fresh fish grilled on the outdoor barbecue. and Rudy Giuliani. Another great opportunity to expand your mind!

Many thanks to DKR Capital for generously underwriting the airfare for this luxu - The World Business Forum 2007 is held in New York City October 10th & 11th. rious get away!

This package is good only for the week of December 21-28, 2006 and includes confirmed airfare for four. 14. TAKE A RIDE WITH GEORGE HINCAPIE– TEN TIME TOUR DE FRANCE CYCLIST 12. You and 5 friends will join ten-time Tour de France cyclist George Hincapie for a NBA NJ NETS FANTASY PACKAGE ride in either New York City, a private island in Connecticut or the East End of Long Island (starting from a cliff-side private estate). Wind down with lunch and a per - You and 9 guests will run full-court five on five at the Nets’ practice facility for one sonal one-on-one with this cycling luminary and his friend, Tiger Williams, hour, mingling with management. Shower up and head next door for 10 owner - President of Williams Trading and Treasurer of the US Cycling Federation. George ship seats down low near the court for a game. As an added bonus, reward your became the fifth American to wear the yellow jersey this past year at the 2006 four best players with Gold Passports to Chelsea Piers Sports & Entertainment Tour de France, was the only team member to Lance Armstrong during all seven Complex. Each pass includes a day pass to the Health Club and Sports Center at of his Tour wins, and has been hailed as "America's Premier Classic Rider". In addi - Chelsea Piers, admission and skate rental at the Sky Rink, five batting cage tokens tion to his Tour de France performances, he was on the '92, '96, '00 and '04 and a $15 pre-paid ball card and club rental at the Golf Club. Also, for the NY foot - Olympic teams. As one of the most talented and experienced riders on his team, ball fan in the crowd, two signed footballs; one from the New York Giants and the George is sure to play a key role in the 2007 Tour as well. Enjoy this once in a life - other the New York Jets. time opportunity to ride with one of America's great cyclists. Our thanks to Tiger

Nets portion of this package is good for 10 people on a mutually agreed date during the 2006/2007 season . Williams for organizing this ride with a legend! Ride is for 6 people and must take place between October 1, and December 1, 2007 on a mutually agreed date. 18 19 Auction Lots Auction Lots

15. 16. ALL FORE AND MORE! LUNCH WITH LEGENDS

This package includes everything for the avid golfer and the duffer alike: Julian Robertson and John Griffin invite you and 5 friends to lunch at 101 Park Avenue on a mutually agreeable date between April 1st and August 1st, 2007. A fantastic trip for two to the five-star Adare Manor Hotel & Golf Resort including At least two other “Tiger Cubs” will join you. Hear how it all began, how the round-trip airfare, accommodations, all meals, and greens fees. Traveler Magazine legacy will continue and what these great minds are thinking today. named Adare Manor the “#1 Golf Resort in Ireland and Europe” and it will be home of the 2007 Irish Open.

A round of golf for three at Maidstone Golf Club (or, an outing for four in the off- 17. season). You and two friends will join a member, and round donor, for eighteen holes on Maidstone’s West Course in East Hampton, NY. REACHING OUT FOR EDUCATION

A round of golf for three at Liberty National Golf Course with transportation by Help change the course of childrens' lives by further supporting Teach For helicopter to and from Manhattan. The club member will join your threesome for America and Building with Books. These organizations have touched millions a round of golf at this luxurious club in Jersey City, NJ. of children and helped each one in a measurable way. Help us fund the next generation! Every dollar counts: bid and be counted! A golf gift certificate for a round for four at the ultra exclusive golf club The Bridge in Bridgehampton, NY. Round is good for Monday, Wednesday, Thursday or Friday in April, May, September or October 2007 or Monday, Wednesday or Thursday in June 2007.

Your foursome is also invited to enjoy the Wachovia Championship at Quail Hollow Club in Charlotte, North Carolina April 30-May 6, 2007. Enjoy this great week of golf courtesy of Wachovia Corporation. Airfare is not included.

Dates must be mutually agreed upon.

20 21 Donors Pre-Gala Party AUCTION DONORS Façonnable and Vogue have partnered with 100 Women in Hedge Funds, to Viansa Winery & Marketplace Ken Langone support their philanthropic efforts. The partnership kicked off with an intimate Allen & Company LLC Le Cirque cocktail party at Façonnable's Fifth Avenue Flagship store where members were The Araca Group Liberty Executive Charter able to shop the collection. Ticket sales and a percentage of the evening's sales B.R. Guest Inc. ManCo Investments LLC benefited 100 Women in Hedge Fund's 5th Annual Gala. Mary Beth and Richard Barth Mark Gordon, The Mark Gordon Company BILL BLASS NEW YORK The Mayflower Inn and Spa PREMIUM TICKET HOLDERS Build-A-Bear Workshop® MTV Studios Steven Butz New Jersey Nets Mona Aboelnaga Kanaan, Proctor Investment Managers LLC C.I.C., Inc. New York Football Giants Jennifer Ancker, Stadia Capital Chelsea Piers Sports & Entertainment Complex New York Jets LLC Donna M. Bowers, Epoch Investment Partners Brooke Churchill P.J. Clarke's Stephanie Breslow, Schulte Roth & Zabel LLP Richard C. Daniel Pali Capital, Inc. Deloitte Physique 57 Suzanne Cannistraro, Ten-Sixty Asset Management Devin Tavern Cathi & John Raffaeli Erika M. Cramer, Alternative Access Capital, LLC DKR Capital Bill Richards Aileen Doherty, Jefferson Wells Dylan Prime Julian Robertson Dawn Edwards, AltruShare Securities Façonnable Jeffrey D. Sachs Trish Gilbert, Citadel Investment Group, LLC Felix J. Baker and Heather Bogdanoff Sabon NYC Inc. Marianne Gouras, Petra Group Ferrari North America Shamy Designs Robin Isaacson, Isaacson Search Company (ISC) Gotham Dream Cars Smith & Wollensky Restaurant Group Barbara Lewnowski, Olympia Capital Associates, L.P. John Griffin Sotheby's Sharon Lieb, Eisner LLP HSM, The World Business Forum Mike Tiedemann Laura Moore, Calyon Financial Doug Herzog, Comedy Central Tupelo Grill Laura Osman, Concord International Investments George Hincapie Vogue Rikki Owen, ICAP Corporates LLC iVision International LLC Wachovia Corporation Yamelin Castillo, Linedata Services Beauchamp Hedge Fund Solutions JetBlue Airways® Gregory White, Oppenheimer & Co. Inc. Colette Rabbat, Proctor NBF Capital Partners Craig B. Kravit Tiger Williams Elise Rosenberg Bear, Stearns & Co., Inc. GIFT BAG DONORS Anita Hill Sands, Intuition Financial Placement

Anderson Kill & Olick, PC L'Occitane Amanda Schaper, Finisterre Capital BDO Seidman, LLP National Constitution Center Susan Soh, Highbridge Capital Management, LLC Baileys Irish Cream PINK magazine J. Sommer, Quadriserv Beiersdorf Inc. Pipeline Trading Systems Serra Sonmez, Cramer Rosenthal McGlynn BLOOMBERG, LP Reuters Andrea Will, Eisner LLP Bottlenotes, Inc. Shattered Magazine Dana Williams Witkin, Icahn Management LP Deutsche Bank Tazo Tea Dr. Johanna Jacobs DDS Veranda International Securities Exchange

22 23 Special Thanks to...

THE SUBSCRIBERS

The Hedge Fund Industry's favorite band, The Subscribers, hot off their scorching Rocktoberfest performance at BB King’s will be laying it down at Cipriani 42nd Street for 100 Women in Hedge Funds. The Subscribers, a band comprised of Hedge Funders and the inventors of 'Charity Rock' will be on hand to make you feel even better about your donations. Make that check bigger and arbitrage the cost of a good party and a good deed by letting your hair down a little and rocking out with the band that gives giving a good name.

DREISBACH DESIGN

The creative team behind this year’s apple-themed graphic elements, Dreisbach Design, is a strategic marketing and graphic design firm specializing in alternative investments. From corporate identity to pitchbooks, factsheets, websites and investor education programs, this team delivers.