BAVARIA FIRST INVESTMENT

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		<p class="header"></p><h1>Recommendation - 2008-10-02 <small>12:32</small></h1><h2>Monthly summary -&nbsp;SEPTEMBER 2008*</h2><table border="0" class="bfi"><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">36</td><td rowspan="4" style="vertical-align: middle; text-align: center">1.09-5.09.2008</td><td style="text-align: center">EURUSD</td><td>&nbsp;1760</td><td rowspan="4">&nbsp;3271</td></tr><tr><td style="text-align: center">GBPUSD</td><td>&nbsp;483</td></tr><tr><td style="text-align: center">USDJPY</td><td>&nbsp;483</td></tr><tr><td style="text-align: center">USDCHF</td><td>&nbsp;545</td></tr><tr><td rowspan="4" style="vertical-align: middle; text-align: center">37</td><td rowspan="4" style="vertical-align: middle; text-align: center">8.09-12.09.2008</td><td style="text-align: center">EURUSD</td><td>&nbsp;1474</td><td rowspan="4">&nbsp;2489</td></tr><tr><td style="text-align: center">GBPUSD</td><td>&nbsp;81</td></tr><tr><td style="text-align: center">USDJPY</td><td>&nbsp;55</td></tr><tr><td style="text-align: center">USDCHF</td><td>&nbsp;879</td></tr><tr><td rowspan="4" style="vertical-align: middle; text-align: center">38</td><td rowspan="4" style="vertical-align: middle; text-align: center">15.09-19.09.2008</td><td style="text-align: center">EURUSD</td><td>&nbsp;1190</td><td rowspan="4">&nbsp;2236</td></tr><tr><td style="text-align: center">GBPUSD</td><td>&nbsp;185</td></tr><tr><td style="text-align: center">USDJPY</td><td>&nbsp;484</td></tr><tr><td style="text-align: center">USDCHF</td><td>&nbsp;377</td></tr><tr><td rowspan="4" style="vertical-align: middle; text-align: center">39/40</td><td rowspan="4" style="vertical-align: middle; text-align: center">22.09-30.09.2008</td><td style="text-align: center">EURUSD</td><td>&nbsp;172</td><td rowspan="4">&nbsp;1000</td></tr><tr><td style="text-align: center">GBPUSD</td><td>&nbsp;194</td></tr><tr><td style="text-align: center">USDJPY</td><td>&nbsp;284</td></tr><tr><td style="text-align: center">USDCHF</td><td>&nbsp;350</td></tr></tbody></table><br />* These results have been achived using strategies based on our currency market commentaries. <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>
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Monthly summary - SEPTEMBER 2008*

Week	Date	Cross	Profit (pips)	Total
36	1.09-5.09.2008	EURUSD	1760	3271
		GBPUSD	483
		USDJPY	483
		USDCHF	545
37	8.09-12.09.2008	EURUSD	1474	2489
		GBPUSD	81
		USDJPY	55
		USDCHF	879
38	15.09-19.09.2008	EURUSD	1190	2236
		GBPUSD	185
		USDJPY	484
		USDCHF	377
39/40	22.09-30.09.2008	EURUSD	172	1000
		GBPUSD	194
		USDJPY	284
		USDCHF	350

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

BAVARIA FIRST INVESTMENT

Monthly summary - SEPTEMBER 2008*

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