Disclaimer for visitors and (potential) investors of the website of Central American Timber Fund

THIS WEBSITE AND THE INFORMATION PROVIDED VIA THIS WEBSITE IS INTENDED FOR PROFESSIONAL, QUALIFIED OR INSTITUTIONAL INVESTORS AS DEFINED OR FINANCIAL INTERMEDIARIES TO WHOM THE INFORMATION IT CONTAINS MAY LEGALLY BE MADE AVAILABLE OR ACTED UPON AND NOT FOR ACCESS OR USE BY OTHER PRIVATE INDIVIDUAL INVESTORS. THIS WEBSITE IS NOT A SUBSTITUTE FOR READING THE PROSPECTUS AND THE LATEST FINANCIAL INFORMATION RELATED TO CENTRAL AMERICAN TIMBER FUND. AN INVESTMENT DECISION SHOULD BE MADE BASED ON SUCH INFORMATION.

Please read this disclaimer, it explains certain restrictions imposed by law on the distribution of this website and the information contained therein and the jurisdictions in which our products are authorized for sale. Baum Management S.à. R.L. is registered at the Luxembourg chamber of commerce (B 163338). Baum Management S.à. R.L. and Central American Timber Fund FCP-SIF (“CATF”) are only registered at and supervised by the Luxembourg Commission de Surveillance du Secteur Financier and the Netherlands Autoriteit Financiële Markten. Investments in CATF are restricted solely to Well-Informed Investors such as institutional investors, professional investors and any other well-informed investors, as specified under section 2 of the Luxembourg law of 13 February 2007 relating to specialized investment funds.

By using this website, you recognize that you have the capability and means required to access and use this website. You also acknowledge that you have read and understood the present legal information and disclaimer set out below and undertake to comply with them. This website may give access to other websites that may or may not belong to Baum Management S.à. R.L., CATF or any of their subsidiaries, affiliates of funds managed by it (collectively “Baum”), which may have their own legal information and disclaimers and which you should read and comply with. Also, Baum Management S.à. R.L. does not take on any responsibility for the content of such websites.

You do not have to register to use the majority of this website. Baum however invites you to do so, and if you elect to register, Baum will collect personal identification details from you. Baum may use such personal information for marketing purposes in the future. You have the right to ask Baum not to use your details for these purposes.

This disclaimer explains certain restrictions imposed by law on the distribution of this information and the jurisdictions in which Baum products are authorized for sale. This website and the information therein is not directed to any person in any jurisdiction which prohibits the publication or availability or where such publication or availability would subject CATF or any entity affiliated with CATF to any registration or similar requirement within such jurisdiction and thus the information provided in via this website does not qualify as a public offer. It is your responsibility to be aware of and to observe all the applicable laws and regulations of your jurisdiction. You should consult your professional advisors as to whether you require any governmental or other consents, licenses or registrations or need to observe any local regulatory restrictions or formalities, such as a minimum investment, to enable you to view this website or take notice of the information therein.

This website has been prepared for informational purposes only. It is not intended to and shall not in any way constitute an invitation or an offer to invest in any investment products or a solicitation to purchase any investment. It also does not constitute and is not intended to constitute an investment advice. It is provided for general use only and is subject to change without notice. This website is monitored and up-dated on a regular basis. Whilst we attempt to ensure its accuracy and completeness, none of the information on this website constitutes professional or legal advice and should not be relied upon nor does Baum guarantee that the information provided via this website is fully accurate and complete. The contents of this website or any other publications made available via this website are for information purposes only and may not be duplicated, except for own personal and private use, excluding thus all commercial use. You may not hyperlink to this website without the prior written consent of administrator of this website.

Potential investors should note that investments can involve significant risks. No assurance can be given that the investment objective of any investment products will be achieved. Any past performance information presented is not indicative of future performance. Potential investors must read the relevant prospectus and the latest financial information about CATF carefully for further details, including the costs and the risk factors, before any investment decision is made.

Some of the information that is made available via this website may contain projections or other forward looking statements regarding future events or future financial performance of countries, assets, markets or companies. These statements are only predictions and actual events or results may differ materially. Any geographic, political, economic, statistical, financial and exchange rate data may in certain cases be presented in approximate or summary or simplified form and may change over time. Any reference to any specific company, financial product or asset class in whatever way is used for illustrative purposes only and does not constitute a recommendation on the same. Potential investors in CATF must be prepared and able to sustain losses of capital invested up to a total loss. No compensation scheme applies to investments in CATF. Potential investors should consult their own professional advisors, stock brokers, lawyers, accountants, tax consultants, bank managers and/or any other professional advisors they consider necessary before making an investment.

While all reasonable care has been taken in preparing this website, no warranty or representation whatsoever is given and no responsibility or liability is accepted for any loss arising directly or indirectly in connection with, relating to, or as a result of any person acting on any information, opinion or statement expressed in this website. This website or the information contained therein may not be duplicated, except for own personal and private use, excluding thus all commercial use. Copyright of all information, text and images available via this website are owned by or licensed to Baum. Any reproduction, use or representation, in full or in part, of the pages, data and more generally any element included in this website in any way and on any medium whatsoever is strictly forbidden and, without prior written authorization from the administrator of this website, represents an infringement of copyright.

CATF is an unregulated collective investment scheme and as such CATF is not a recognized collective investment scheme as described in the Financial Services and Markets Act 2000 of the United Kingdom (“FMSA”).

The promotion and distribution of any material relating to CATF in the United Kingdom ("UK") are thus restricted by law. In the UK this material is distributed by Darion Capital Management B.V., which is authorized and regulated by the Dutch Autoriteit Financiële Markten and registered by the FSA under number 543256. In the UK this website is directed exclusively at, and intended to be used only, by professional clients or eligible counterparties for the purposes of the FSA’s Conduct of Business Sourcebook. FSMA (promotion of Collective Investment Schemes (Exemptions) Order 2001 (SI 2001/1060 (as amended)) permits promotion to the following (not exhaustive): (i) Certified High Net Worth Investors (art 21); (ii) Certified Sophisticated Investors (art 23); (iii) Self-Certified Sophisticated Investors (23A); (iv) Individuals that fall into one of eight categories detailed in FSA’s Conduct of Business Sourcebook 4.12. Other persons should not use this website in any circumstances.

This website gives you the possibility to send e-mails to Baum. Such e-mails are sent through the internet, a public network over which Baum has no control and as a result, messages may be intercepted, modified or lost. Baum draws your attention to the fact that this website was designed for informational purposes relating to the financial products and services of Baum and as a channel to carry out informal communications with Baum. This website is in no way designed to be a tool for communication with Baum for the purposes of management or contractual service offers. Consequently Baum guarantees neither explicitly, nor implicitly that information or requests sent via this website will be read or acted upon.

To the fullest extent allowed by law, Baum does not accept liability for any loss which may arise from reliance on the information on this website. Baum does not accept any responsibility whatsoever for any loss occasioned to any person no matter however caused or arising as a result, or in consequence, of action taken or refrained from in reliance on any of the contents of our publications. Detailed specialist advice from a suitably qualified professional should always be obtained before taking or refraining from any action applying the information to particular circumstances. Furthermore, Baum may not be held liable in any way for any elements outside of their control and any direct or indirect damages that may be incurred by you, to the technical environment notably computers, software, network equipment and any other equipment used to access the information, resulting from any access to or use of this website including inaccessibility, data loss, deterioration, destruction or viruses that may affect your IT equipment and or the presence of viruses on its site.

This website, the official language of which is English, is subject to Luxembourg law and comes exclusively under the Luxembourg jurisdiction.

If you have questions or comments regarding this website or any other publications made available via this website, please contact the administrator of this website via info@baummanagement.lu.

This disclaimer is dated January 2012.