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0



Exhibit I Investment and Liquidation Activity

Porfolio Transaction 5ummar	y						
Dccccmbcr, 1999		January, 2000		February, 2000		March, 2000	
Bob West Treasure	(2953,1''-5)	Rcsco	(673.200)	Yoscnr tc	03,750,000)	Rawtudc	112.50018701
ENA CLO Debt	(19,600000)			Yoscrnite	33,850.000	Pluto	26.'94,1 15
ENA CLO Equity	(12,900.000)					Poland	3_.6-t 1.502
Pluto	(26,3 13.6 10)						
Poland	(30.000.000)						
2nd Quarter, 2000		April, 2000		Miy, 2000		Juue, 2000	
		No Portfolio Activity		GE Turbines	(2,000,000)	Backborx	(29.990,763)
				Raptor	(29,500,000)	Bargcco	(7.5225.0001
						Bob Wcst Treasure	3.'46.6.19
						GE Turblr>a	11.8'_6.5001
3rd Quarter, 2000		July, 2000		August, 2000		September, 2000	
		GE Turbux5	(1,434,938)	GE Turbines	( 1,433.812)	GE Turbuxs	1.529,4001
		Ntargur	(10000000)	Zenith	(2 (000000)	First Uruon	(2_5_'00,000)
		Osprry	(26,000.000)			Raptor	40,366 667
		Raptor [1	(30,000,000)			Raptor I - A	(6.000 000)
		TNPC	(38,000,000)			Raptor III	130.000000)
						Raptor IV	)30.000.000)
4th Quarter, 2000		October, 2000		November, 2000		December, 2000	`
		Bargcco	8,205,000	GE Turbin	(1.529,400)	Arnpato	(8,024,061)
		GE Turbines	(1,529,400)			Avici	(1,070.191)
		Osprcy 2	(6.500,000)			Backbone	32.385.941
		Raptor II	41,050.000			Catalytica	(1.812.059)
(Invcsmxnt)		Raptor [1 - A	(1,100,000)			GE Turbirics	12,414,780
Liquidation		Raptor m	39,550.000				

Exhibit II

Investment Detail

Initial %0( */.0( Otastaaing Est*rraud Esbnvted 0-0-91 czar
Itrvesertat Ins t>rYnt L1NR Total 117a rrnt Fair Vaiue Fair Vatue Rot--j Projected
  rite 4 FbrtfoW CumiUTITIis 12(3b00 12/3-00 '3000 __ Q:R
Debt
EI`AaUTnat I 72-Dm-99 Imo'/ 8% S 19,619,000 S 19,6000)0 b 19,600,000 S 19,600,0 14°/ 141,16
Tomes lkbt 8% 5 19,633000 S 19,633(10 5 )9,6CC),CCD S 19,600,003



rurpao	33E -W	1001/	3°/	S	$024,061	S	$334061	S	8 4,061		
Ntic	I I-Des W	ICU,/	)Y/	S	1,073091	S	1,03)09[	S	[,09,091		
Fred	11-2c4()	l((y/	1%	S	1,812,059	S	1,812,039	S	I,8[2,Qj9		
ETIACLOI [-Id 00CnrptiryI	22-l 99	l03/,	5%	S	12,900,000	S	(2,900000	S	12,910,010	S	12,900,000
Etnx t-h nQo	79- )-M	630/	(0'/	S	225,37,01X1	5	25 000	S	2231),000	S	25.x,000
Ntryan	12-KILO	33/a	4%	S	10,000,000	S	10,000,09	S	(0,000,03)	S	10,(13000
C c}	12-AU-CO	(0Y/	Iff/	S	26,COO,CCO	S	)3(X3000	S	000,03)	S	2000,000
C tey (I	1040a41)	87%	3%	S	6,-0,(X:0	S	6,519,000	S	6,S ,030	S	6500,)300
R [-A	l9-Sepal	(030 0	2%o	S	(3000,100	S	6,100,0)0	S	6,000,010	S	001X),000
Rcttr 0-A	13-2170	)COI/	0'/	S	1,100,000	S	I'[00,000	5	1,100,000	S	1,100,000
Papaw	I5- .U)	lay/	1211	S	30,CQ0000	S	30, 30)0	S	30010,00	S	'3300,0)0
RaslFuck	Z~N4r70	56°/	511	S	I 0(X)	S	[2,0.03 3	S	[2,50000)	S	1200,000
Rrw	6-ItrLO	51%	(3/	S	673.313	S	673-C0	S	673--W	S	67300
T'141'	12-Iu170	761/°	I5/	5	3$010,000	S	38,00000))	5	2$675,935	S	3$000,000
Zisth Td ti i	1-.NCO	14%	5%	S	2)01x),000	S	2(00000	S	2)00300	S	2100,000
Toed Equty			7311.	S	30,774) I	S	39,729,41)	S	19(455,337		
%)rt Trnn((ov fi) lerestrrnri			(33			S	33,635,91)	S	33.635,93/3		
Total Asses			Imo'//	S	333,3 ,4I)	5	2`4,0)5,3-11	5	244,691.267		

' 4t 1213 IA)) LJM2 had ruts r J rcvan cf a-d ream at cpct1 m Ra(1a L Rata [1 sd P icr T I'C UN4 hold; a rciadnl nt~ t of Sl) rn0 ion in cath e

26%
[5%
15%
30'1
24°/
16%
16°1
3f/
125%
860/
14%
b/
85%
21%

fix/°
15%
1511
30'1
24°1
160/
( 601
2~0
125°/
15%
86P/
14%
25°1
05'
211/

AF100414
EC02819A0061976

EXH027-00190


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• Exhibit III Liquidated Investments
(as of 12/31/00)



								( nicvcrcd
	Initial		% of				Total	Anousl˘cd
	Investment	Divestiture	Investment		Total		Cash	Investrnent
~ssct	Date	Date	Held by LJM2		Investment		Received	ERR
Subordinated Debt								
MEGS, LLC	29-Dec-99	6-Mar-00	100%	S	25,570,570	S	26,019,517	10%
NovsaSarzyna	22-Dec-99	31-Mar-00	75%	S	10,125,000	S	10,320.302	7%
Yosemite	28-Feb-00	28-Feb-00	100%	S	33,750,000	S	33,850,000	194%
Total Debt				S	69,445,570	S	70,189,819	
Equity								
Private Equity								
Backbone	30-Jun-00-	21-Dec-00	1001/0,	S	29,990,763	S	32,385,941	18%
Bargeco	29-Jurr-00	30-Sep-00	100%	S	7,525,000	S	8,235,000	37%
Bob West Treasure	29-Dec-99	2-Jun-00	90%	S	2,953,125	S	3,246,649	25%
GE 7EA Turbines	12-May-00	15-Dec-00	100%	S	1 1.283,450	S	12,416,780	37°/
MEGS, LLC	29-Dec-99	6-Mar-00	90%	S	743,040	S	774,598	25%
Nova Sarzyna	22-Dec-99	31-Mar-00	75%	S	19,875,000	S	22,321,200	53%
Raptor	4-May-00	7-Sep-00	98%	S	29,500,000	S	40,366,667	148%
Raptor U	6-Ju1-00	4-Oct-00	1001/0	S	30,000,000	S	41,050,000	257%
RaptorTNPC	28-Sep-00	5-Oct-00	100%	S	30,000,000	S	39,550,000	[NP ••
Total Private Equity				S	161,870,378	S	200,346,834	

' lnvestment held less than I day
• l f calculated over one month, IRR = 2500%

Exhibit IV 2000 Partners' Capital Summary

  (information is from inception to 12/3 1/00)

Total capital commitments	394,055,165
Total capital contributions	245,979,453
Total distributions (capita l+profits)	99,1 12,684
Recallable distributions	76,829,293

Exhibit V

LJM2 Liquidity

AF 100415

as of 12/3 1/00



Unfunded Partners' capital 224,905,005
Recallable capital currently available for distribution 28,020,449
Capital available under revolver 40,750,000
  Total capital currently available 293,675,454

EC02819AO061977

EXH027-00191