Dear Aaron,

I want to thank you and the HedgeCo team for giving Passport Capital a professional look and feel through our new website. Our investors appreciate the level of information we now provide through the login portion of our site. It has become an integral part of our strategy to provide investors with up to date information on our funds.

I am also impressed with the ease of use and level of customization on our end. We can add and edit content easily thanks to your developers. I appreciate your timeliness and efforts in creating and launching our website and logo, and we look forward to our continuing relationship.

Evan D. Newton
PASSPORT CAPITAL, LLC
www.passportcapital.com