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Amendment to the Valuation Language/Methodology of Caritas Royalties Fund II (Bermuda) Ltd.
Hamilton, Bermuda: July 27, 2006 -- The Board of Directors (the "Directors") of Caritas Royalties Fund II (Bermuda) Ltd. (the "Fund") wish to announce that with effect from 24th July 2006, revisions to the valuation language of the Fund's prospectus (the "Prospectus") has been approved by the Directors.
The changes to the valuation language in the Prospectus are as follows:
1) Certain provisions have been removed as they were not applicable to the Fund;
2) Certain wording was deemed to fit more logically under the "Data Collection and Analysis" section than under the Determination of NAV/Total Fund Assets sections; and
3) In accordance with US GAAP, preliminary expenses are not allowed to be amortized over a period of 48 months and therefore this provision was removed.
For further information on Caritas Royalties Fund II (Bermuda) Ltd., please contact Henry Cox at telephone: + 441-292-9718 or facsimile: 441-292-9576