APEN Ltd. is a Swiss investment company with an objective to achieve long-term capital growth for shareholders by investing in a diversified portfolio of private equity funds and privately held operating companies. The same team that manages private equity investments for American International Group, Inc. acts as investment advisor for APEN Ltd. With eight years of operating history in a variety of market conditions, APEN Ltd. has a solid track record and a mature portfolio of funds and direct investments. APEN Ltd. is listed on the SWX Swiss Exchange under the ticker symbol "APEN".
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 Valuation as of 03/31/2010

Net asset value per share 
CHF 58.25

Closing price per share
CHF 15.00