In accordance with National Instrument 81-107 Independent Review Committee for Investment Funds (“NI 81-107”), BluMont Capital (the "Manager") has established an independent review committee (the “IRC”) for the BluMont Canadian Fund, the BluMont North American Fund, and the BluMont Augen Limited Partnerships (collectively the "Funds" and individually a "Fund"). The IRC is composed of three individuals, each of whom is independent of the Fund, the Manager and its affiliates.

The IRC became fully operational on October 26, 2007 and, since that date, has functioned in accordance with applicable securities laws, including NI 81-107. The IRC has adopted a written charter that includes its mandate, responsibilities and functions, and the policies and procedures it will follow when performing its functions.

The members of the IRC, are mandated to represent the best interest of the Funds in any matter where the Manager has a conflict of interest. In respect of any Conflict of Interest Matter referred to us, the IRC will seek to ensure that the Manager’s proposed course of action represents a fair and reasonable result for the relevant Fund(s).

The IRC will provide a report to investors, at a minimum annually, which will be available on this website or at www.sedar.com.