MSI-Preferred Investment Fund, Ltd - 6. General Procedures

Purchase of Shares:

Subscription Forms for Class A shares (the "shares") of the Fund must be submitted directly to the office of Montaque Securities International or sent by mail. The minimum initial investment in the Fund is $500, but the Fund reserves the right to modify this requirement. Shares of the Fund shall be purchased at the NAV of the shares on the next Valuation Date, and fractional shares may be issued. All shares must be paid in full at the time of their issue. After the initial investment, each investment account must maintain a minimum investment balance of $500 and may be increased in minimum increments of $100.

Share certificates will not be issued. Each person accepted as a shareholder in the Fund will be assigned an investment account with Montaque Securities International. Upon acceptance of the subscription, the Fund Manager will forward details of the investment account to the subscriber, including the number of shares credited thereto. All references to