Reliance Funds - exisiting investors

Instreet Investment Limited (Instreet) ABN 44 128 813 016 is the distribution manager for  the Instreet Reliance Funds.  Instreet is an authorised representative of EA Financial, LP (EAF) ABN 16 971 745 471 under Australian Financial Services Licence No. 246801. EAFmay be contacted in writing at GPO Box 1498, Sydney NSW 2001. The information has been prepared by Instreet and is current as at 8 August  2008.

Merrill Invest (Australia) Limited (Merrill Invest) ACN 126 232 139, AFSL 315 369 is the responsible entity of and issuer of units in the Instreet Reliance Global Allocation Fund (ARSN 131 599 927) and Instreet Reliance Commodities Fund (ARSN 131 602 821) collectively, the Instreet Reliance Funds.

An invitation to apply for units in each of the Instreet Reliance Funds will be made by Merrill Invest in a Product Disclosure Statement to be dated on or around 28 August 2008 (PDS). The PDS will be available from Level 34, 50 Bridge St, Sydney, at the website www.instreet.com.au or by phoning (02) 8216 0804. In deciding whether to acquire or continue to hold an investment in the Instreet Reliance Funds, investors should obtain the PDS and consider its contents.

This information is general advice and does not take account of an investor’s objectives, financial situation or needs. Before acting on this general advice, investors should therefore consider the appropriateness of the advice having regard to their situation. Each of Instreet and Merrill Invest recommend investors obtain financial, legal and taxation advice before making any financial investment decisions.

Merrill Invest advises that it is the the responsible entity of and issuer of units only and is not licensed to provide financial product advice in relation to the Instreet Reliance Funds.  

Neither Instreet nor Merrill Invest gives, nor do either purport to give, any taxation advice. Any taxation discussion in this document is based on laws current at the time of writing. Those laws and the level of taxation may change. The application of taxation laws to each investor depends on that investor’s individual circumstance. Accordingly, investors should seek independent professional advice on taxation implications before making any investment decision.

Merril Lynch International will pay out of its own funds to Instreet a Distribution Fee of up to 0.75% per annum of the funds under management of the Instreet Reliance Funds.  Merrill Invest may also pay to financial advisers a contribution fee of up to 5.5% which is deducted from your initial investment amount and a trail fee of up to 1.10% p.a. on any quarterly distributions paid to you.  This trail fee if paid will reduce returns to Unitholders. Full disclosure of the fees applicable to the Instreet Reliance Funds is set out in the PDS.

Past performance is not a reliable indicator of future performance.

Apart from the disclosed relationships referred to above, EAF and Instreet are not owned by, or related parties of, Merrill Invest;  EAF and Instreet do not hold any ownership interests in Merrill Invest.  EAF and Instreet do not hold any ownership interests in each other.   Neither Instreet nor EAF has any authority to bind or commit Merrill Invest and any representations made in this statement are made on behalf of Instreet and not on behalf of Merrill Invest.