BAVARIA FIRST INVESTMENT

<html>
		<head>
		<title>Recommendation - 2008-07-02</title>
		<style type="text/css">
			body  {    margin: 50px;    padding: 0;    font-family: Verdana, Arial, Helvetica, sans-serif;    font-size: 12px; color: #444;   }
			p     {    margin: 0;    padding: 0; }
			table {    margin: 0;    padding: 0;  border-collapse: collapse;	}
			td	  {    padding:0;	 vertical-align:top;		}
			h1 {	font-size: 24px;	margin:10px 0 10px 0;	font-family: Arial, Helvetica, sans-serif; }
			h1 small {	font-size: 14px; }
			h2 {	font-size: 18px;	margin:5px 0 5px 0; 	font-family: Arial, Helvetica, sans-serif; }
			h3 {	font-size: 16px;	margin:3px 0 3px 0; 	font-family: Arial, Helvetica, sans-serif; }
		  .bfi              { background-color:#a0a0a0; color:#fff; width:100%; }
		  .bfi td, th       { padding:10px 5px 10px 5px; border:1px solid #fff;}
		  .bfi th           { font-weight:bold; }
		  .bfi tr.header    { font-weight:bold; }
		  .bfi .darker      { background-color:#5c5c5c; } 
		  .bfi .lighter     { background-color:#c2c2c2; }
		  .footer			{ margin: 2em 0; text-align: center; font-weight: bold; }
		  p.header			{ height: 71px; background-image: url('http://bavariafund.com/images/header_logo.png');background-repeat: no-repeat; }
		  p.law				{ font-size: 0.8em; text-align: justify; margin: 1em 0;}
		</style>
		</head>
		<body>
		<p class="header"></p><h1>Recommendation - 2008-07-02 <small>10:56</small></h1><h2>Monthly summary -&nbsp;JUNE 2008 *<br /><br /><br /></h2><table border="0" class="bfi" style="width: 100%; height: 496px"><tbody><tr class="header"><th style="width: 60px">Week</th><th style="width: 140px">Date</th><th style="width: 60px">Cross</th><th>Profit (pips)</th><th>Total</th></tr><tr><td rowspan="4" style="vertical-align: middle; text-align: center">24</td><td rowspan="4" style="vertical-align: middle; text-align: center">09.06-15.06.2008</td><td style="text-align: center">USDJPY</td><td><div align="center">51</div></td><td rowspan="4"><div align="center"><br /><br /><br /><br />215</div></td></tr><tr><td style="text-align: center">GBPUSD</td><td><div align="center">0</div></td></tr><tr><td style="text-align: center">EURUSD</td><td><div align="center">107</div></td></tr><tr><td style="text-align: center">USDCHF</td><td><div align="center">57</div></td></tr><tr><td rowspan="4" style="vertical-align: middle; text-align: center">25</td><td rowspan="4" style="vertical-align: middle; text-align: center">16.06-22.06.2008</td><td style="text-align: center">USDJPY</td><td><div align="center">55</div></td><td rowspan="4"><div align="center"><br /><br /><br /><br />379</div></td></tr><tr><td style="text-align: center">GBPUSD</td><td><div align="center">0</div></td></tr><tr><td style="text-align: center">EURUSD</td><td><div align="center">134</div></td></tr><tr><td style="text-align: center">USDCHF</td><td><div align="center">190</div></td></tr><tr><td rowspan="4" style="vertical-align: middle; text-align: center">26</td><td rowspan="4" style="vertical-align: middle; text-align: center">23.06-30.06.2008</td><td style="text-align: center">USDJPY</td><td><div align="center">109</div></td><td rowspan="4"><div align="center"><br /><br /><br /><br />471</div></td></tr><tr><td style="text-align: center">GBPUSD</td><td><div align="center">10</div></td></tr><tr><td style="text-align: center">EURUSD</td><td><div align="center">195</div></td></tr><tr><td style="text-align: center">USDCHF</td><td><div align="center">157</div></td></tr></tbody></table><br /><em>* These results have been achived using strategies based on our currency market commentaries.</em><p class="law">The Recommendations are estimated with our best knowledge and diligence. We accept no responsibility for the accuracy or completeness of any information here in contained nor for any forecasts or recommendations. We shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information herein contained. The contents of this publication should not be construed as an express or implied promise, guarantee or implication by us that you will profit from the strategies herein or that your losses in connection therewith can or will be limited. Stops may not necessarily limit losses to intended levels.</p>
					<p class="footer">Bavaria First Investment Ltd. All rights reserved.</p></body></html>

Monthly summary - JUNE 2008 *

Week	Date	Cross	Profit (pips)	Total
24	09.06-15.06.2008	USDJPY	51	215
		GBPUSD	0
		EURUSD	107
		USDCHF	57
25	16.06-22.06.2008	USDJPY	55	379
		GBPUSD	0
		EURUSD	134
		USDCHF	190
26	23.06-30.06.2008	USDJPY	109	471
		GBPUSD	10
		EURUSD	195
		USDCHF	157

* These results have been achived using strategies based on our currency market commentaries.

BAVARIA FIRST INVESTMENT

Monthly summary - JUNE 2008 *

Calendar

Agencja interaktywna