Beginning on April 29, 2013 the process used to submit Form 13F to the Securities and Exchange Commission (the “SEC”) will be converted from a text-based form into an online only XML form. Beginning on April 29, 2013, Form 13F (including Forms 13F-HR, 13F-HR/A, 13F-NT and 13F-NT/A) must be filed using the online XML version of the form.

If you wish to make the Form 13F filing for the quarter ended March 31, 2013 using the current text-based form, the filing must be made prior to 5:30 p.m. on April 26, 2013. If you do not make your 13F filing prior to 5:30 p.m. on April 26, 2013 it will need to be submitted using the online XML version of the form.

This change relates only to the 13F submission. Form 13F and its instructions have not been amended. Filers should continue to answer each question as they have in the past.

If you have any questions, please contact your primary attorney in Seward & Kissel’s Investment Management Group.