We write to inform you that the ARM Aggressive Growth Fund (AGF) is offering
to the general public through an Initial Public Offer 50,000,000 units of =N=20,
at =N=20 per unit. The Offer, which opened on 29th October 2007, will close on
December 5, 2007.  


If you are an existing investor in the ARM Aggressive Growth Fund, your
current units in the Fund will be rebased to reflect the offer price of =N=20
and as a result, additional units will be allocated to you to reflect the value
of your investment in the Fund. Please note that additional units only apply to
existing investors in the ARM Aggressive Growth Fund.


We request that you participate in this Initial Public Offer as it presents an
opportunity to build and grow your wealth. Existing unit holders can increase
the size of their holdings in the Fund and achieve greater economies of scale.

We enclose the Offer Application form, Fact Sheets and other information on
the Offer.
 
We thank you for choosing ARM and reiterate our commitment to supporting you
in realising your investment ambitions.
 Kindly contact us if you require further information regarding your investment
or the AGF Public Offer.
 
 Yours faithfully,

NWACHUKWU AFAM

afam.nwachukwu@armdiscoveryfund.com    08038673022