EFTA Document EFTA01451871

SOF III - 1081 Southern Financial LLC Closings The closing of the Feeder Funds (the "Closing") is expected to be held in the fourth quarter of 2013 but may occur earlier or later at the discretion of the General Partner. The General Partner may admit additional Investors into the Feeder Funds in subsequent closings until the final closing of the Master Fund (the "Final Closing Date") (each such closing, a "Subsequent Closing"). Closings of the Feeder Funds are expected to coincide with