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Investor Letter

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Master Funding Agreement

April 2012 Updated Chart of Sinomatic Payments (unofficial)

Report on the Election Results

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Welcome to the Vespers Policyowners Website

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In mid-2007, VESPERS, LLC, your life settlement program’s original sponsor and premium payment guarantor, determined that it would no longer fund the policy premiums. Sinomatic Investment Holdings, Inc. (“Sinomatic”) agreed to fund the policies after VESPERS failed to do so under the terms of the Master Funding Agreement.

As Sinomatic has explained in this letter, Sinomatic found itself unable to continue funding the policies because the VESPERS policies did not have reliable life expectancy projections and because its own capital resources were adversely affected by the economic problems that have affected the world since 2008.

In late July 2012, the firms which are the legal policy owners of the VESPERS policies (informally known as the Coalition of Vespers Policyowners) mailed to each U.S. resident investors a letter that included an update on the status of his or her policies. We also provided those letters to the agents of the investors who live in South America or Asia. If you have not received a letter, please email us or contact your agent. We will send you a copy.

The following VESPERS policies were subject to the Master Funding Agreement:

V00045 V00063 V00067 V00068 V00070 V00074 V00076 V00081 V00095 V00096 V00101
V00102 V00104 V00106 V00107 V00110 V00111 V00126 V00127 V00130 V00136 V00138
V00140 V00143 V00147 V00149 V00154 V00156 V00158 V00161 V00161A V00162 V00168
V00169 V00170 V00171 V00172 V00174 V00175 V00177#1 V00177#2 V00178 V00179 V00180
V00181 V00182 V00184 V00186 V00186#2 V00187 V00190 V00191 V00192 V00194 V00197
V00198 V00199 V00200A V00200B V00203        

There is also a group of VESPERS policies without funding problems when the Master Funding Agreement was adopted in 2008:

V00065 V00072 V00078 V00099 V00100 V00124 V00137 V00146 V00160 V00173 V00193

Policy V00124, however, has run out of premium funding. Investors declined an offer to self-fund premiums.

The policies that are identified in bold black print are active as of December 9, 2016, and those identified in plain bold print matured with proceeds distributed to Sinomatic and the investors under the terms of the Master Funding Agreement since 2008. The policies that are identified in bold red print have lapsed without any value to investors or Sinomatic. The policies that are identified in plain yellow print are running on temporary funding. Investors are being contacted
.

Because of Sinomatic’s voluntary premium payments preceding the Master Funding Agreement’s effective date, the following VESPERS policies that matured while in force and the proceeds were distributed to the investors and to Sinomatic (to reimburse those payments):

V00132 V00141 V00155 V00183 V00185 V00202 V00205        

Our efforts to discuss funding alternatives for the active policies with agents and brokers to discuss funding alternatives for the active policies have been unsuccessful.  We do not have and we are not assuming any legal obligation with respect to your investments in the Vespers policies.

While we will take reasonable steps to keep you informed by posting updates on this website from time to time, you may wish to take additional actions regarding the active policies in which you have an interest. We urge you to consult your own advisors in this regard. We regret that your investment in these policies has not yielded the hoped-for returns.

We wish you the best for the future.

Last updated: December 9, 2016. Click here for further updates.

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