Given our focus on making well thought-out decisions, both through our own proprietary work and the resources of TD Waterhouse Canada and RBC Dominion Securities Inc. - The Harbour Group, you can well imagine that research is where we spend the bulk of our time.

We carefully track each company we invest in before making the decision to buy, and for each company we buy, dozens of other opportunities are reviewed. Once the background work is done, we move quickly.

Monthly, we provide our partners with "Our View" - Edenview's monthly newsletter, and annually we send the partners a detailed financial report including our Audited Statements. And for those who need greater frequency in their information diet, our website offers up-to-date information.

The General Partner (Edenview Financial Inc.) receives a monthly management fee of one twelfth of 1.5% per annum, which provides compensation for managing the portfolio and covers all costs and ex- penses it incurs in connection with the administration of the Partnership.

In addition to the management fee, the General Partner is entitled to a quarterly performance incentive to the extent that the growth in the fund, after payment of the management fee, is greater than 1.75% in a given quarter (7% on an annualized basis). The performance incentive is equal to 20% of the growth in the fund over 7% annualized.

We believe that the strategy here is simple. Keep the administrative activity to a minimum, and share in the profits on the upside. This approach tends to keep us focussed on growing the value of the Partnership.