Subject: Fw: Third Point March Performance
From: "Arlene Busch" <[email-masked]>
To: "Hunter Biden" <[email-masked]>, "Eric Schwerin" <[email-masked]>, "Devon Archer" <[email-masked]>
Date: Wed, 31 Mar 2010 23:33:45 +0000

A great month and YTD. 
Arlene Busch
202-333-1880
[email-masked] 

-----Original Message-----
From: Third Point Investor Relations <[email-masked]>
Date: Wed, 31 Mar 2010 18:18:11 
To: <[email-masked]>
Subject: Third Point March Performance

Dear Investor,

Please find the following estimate of the net returns of funds managed by Third Point LLC for the month of March and for the year 2010.

  
    
March   
YTD 2010   
  
Third Point Offshore Fund, Ltd.   
+8.1%   
+15.5%   
  
Third Point Partners L.P.   
+9.0%   
+16.9%   
  
Third Point Partners Qualified L.P.   
+8.0%   
+14.8%   
  
Third Point Ultra Ltd.   
+9.1%   
+16.5%     

Sincerely,

Investor Relations 
Third Point LLC 
390 Park Avenue 
New York, New York 10022
 Tel  212-224-7416
Fax 212-318-3851 
Email: [email-masked] <mailto:[email-masked]>  
Performance results are based on the net asset value of fee paying investors only and are presented net of management fees, brokerage commissions, administrative expenses, and accrued performance allocation, if any, and include the reinvestment of all dividends, interest, and capital gains.  The performance above represents fund-level returns, and is not an estimate of any specific investor’s actual performance, which may be materially different from such performance depending on numerous factors.  All performance results are estimates and should not be regarded as final until audited financial statements are issued. Past performance is not necessarily indicative of future results.  All information provided herein is for informational purposes only and should not be deemed as a recommendation to buy or sell securities.  All investments involve risk including the loss of principal.  This transmission is confidential and may not be redistributed without the express written consent of Third Point LLC and does not constitute an offer to sell or the solicitation of an offer to purchase any security or investment product.  Any such offer or solicitation may only be made by means of delivery of an approved confidential offering memorandum.