FOREX TRADING INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS Since November 2001 Monarch Capital Management has offered professional money management to institutions and high net worth individuals by trading foreign exchange markets around the world. Our programs are designed to create attractive returns for risk taken. Our primary objective is to provide our investors long-term capital appreciation with very low correlation to traditional investments. Monarch Capital is launching a new managed account product. G10 Foreign Exchange Program Call or write for our disclosures: Monarch Capital Management, Inc. P.O. Box 410904 Charlotte, North Carolina 28241 704-491-6222 clarkson@monarchcapmanagement.com