EFTA02144854

To: From: Investor Relations Sent Fri 3/8/2013 3:20:15 AM Subject: Western Standard Partners OP, LP - February 2013 NAV, 2012 Audit, and 2012 K-1 Tax Form M dard Partners QP LP - 2012 Audit.pdf 2012 K-1 (QP).PDF Feb 2013 (QP).odf Dear Limited Partner, Please find attached your individual NAV (Net Asset Value) from Perennial Fund Services, LLC for the month of February 2013. Please find attached Western Standard's 2012 audit. There were no differences in the financial statements of Spicer Jefferies' audit and the financial statements of Perennial Fund Services. I appreciate that Spicer Jeffcries quickly completed Western Standard's audit. I also appreciate Perennial's accurate work. Please also find attached your K-1 tax form. If you have any questions please feel free to contact me. Regards, Eric D. Andersen Western Standard, LLC EFTA_R1_00801703 EFTA02144854