Minerva Green
Portfolio

Portfolio Objectives
This portfolio seeks long term capital growth from a choice of Green and Ethical funds. Of the recognised list of Ethical unit trusts in the UK, the following funds are excluded from this portfolio: Framlington Health Fund. The list of funds available, and their appropriateness for inclusion in this portfolio, will be reviewed by Minerva in conjunction with the introducing Independent Financial Advisers. The Green Switch portfolio is 50% invested in the Protector Portfolio.

About the Managers
Minerva Fund Managers have specialised in collective investments for the past nine years. Many investors in the UK, both private and institutional investors, buy the New Minerva Report, published by Minerva, to read Minerva's views, and to access the Minerva Ratings of the top funds. Minerva offer their services through professional Independent Financial Advisers.

Typical Client Profile
Someone who wishes to invest between £10,000 and £500,000 into a spread of collective investments that are invested with green and ethical criteria in mind.

Reasons for choosing the Minerva Green & Ethical Portfolio

1. This a unique service which utilises the Minerva Rating system.
2. Experienced Fund Managers (over 55 years)
3. Potential for Capital Gains which utilise the annual exemption
4. Proven Track Record
5. 6 monthly Valuations and Report

Caveats:
The portfolio's value will fluctuate with movements of the various stock markets in which it invests.

Past performance does not guarantee future returns.

Please note that the Green Switch performance up to December 2007 was achieved using a UK Bear fund. This UK Fund is no longer available.

% Growth % Growth % Growth % Growth % Growth
1Y 31/03/2009 1Y 31/03/2008 1Y 30/03/2007 1Y 31/03/2006 1Y 31/03/2005
Name To 31/03/2010 To 31/03/2009 To 31/03/2008 To 30/03/2007 To 31/03/2006
Minerva Green Switch34.76-30.90-1.1311.276.84
Minerva Green ISA38.17-32.48-13.5410.1026.15
Minerva Green Ethical46.86-32.92-13.6915.3922.17
IMA UK All Companies51.06-31.47-10.0910.4027.34
IMA Technology & Telecoms57.15-8.70-8.12-7.4227.63
IMA Specialist47.24-22.98-4.726.6142.98
IMA Global Growth44.26-23.23-3.832.7331.30
Green Protector43.54-32.07-6.9613.0112.33

This has been issued by Minerva Fund Managers Limited, Kelston View, Corston, Bath, BA2 9AH. Minerva Fund Managers Limited are regulated by the Financial Services Authority. Unit Trusts are intended as a long-term investment, because these investments can go down in value as well as up, so you may not get back the full amount invested. These investments are not suitable for everyone. If you have any doubt whether they are suitable for you, you should obtain expert advice. The past is not necessarily a guide to future performance. Remember, never invest more than you can afford to spare.