FORM 1B

VISION L.P.

ACKNOWLEDGMENT OF EXEMPTION FROM REGISTRATION AS A COMMODITY TRADING ADVISOR

I(We),_____________________________________________________________________

{ Please print the name(s) of the Account Controller(s)}

the undersigned Account Controller(s) have trading authority over account titled

{Print Account Name}_____________________________________

The customer has not been provided with a Disclosure Document because I(we) are operating pursuant to an exemption from registration under the Commodity Exchange Act ("Act") and Regulations ("Regulations") and as such I(we) am(are) not required to provide a Disclosure Document.

I(We), are exempt from registration as a Commodity Trading Advisor ("CTA") because I(we): (Check Applicable Statement)

_______A. Have provided advice to 15 or fewer persons during the past 12 months, and do not hold myself(ourselves) out generally to the public as a CTA. (If "A" is checked the account controller is required to complete and execute FORM 1C.)

_______B. I(We) am(are) registered with the Commodity Futures Trading Commission ("CFTC") as a futures commission merchant, introducing broker or associated person. If registered as an associated person, I have been registered as such for more than two years.

_______C. I(We) am(are) in a business or profession listed in the Act or Regulations or am(are) registered in another capacity and my(our) advice is solely incidental to my(our) principal business or profession. My (our) business or profession is:

____________________________________________________________________

(Print your business name and listed business or profession which qualifies you for exemption)

_______D. I (We) am (are) a Foreign based entity, located outside the United States, and I (we) only solicit non-U.S. residents. Accordingly, I(we) am (are) exempt from registering as a CTA and as such, I (we) am (are) not required to provide a Disclosure Document to Customer.

_______ E. I am a member of Customer's family (circle applicable relationship: spouse, parent, child, grandparent, grandchild, brother, sister, aunt, uncle, nephew, niece or in-law).

_______ F. I am a(l)dealer, processor, broker, or seller in cash market transactions or (2) non-profit, voluntary membership, general arm organization, who provides advice on the sale or purchase of commodities, and any trading advice is solely, incidental to the conduct of my business.

By the Account Controller(s):

(Signature) X________________________________ Date_____________________________

By Client:

I hereby acknowledge receipt and I fully understand that the account controller is exempt from the requirements for registration as a Commodity Trading Advisor.

(Signature) X_________________________________ Date______________________________

(Print Name) X_________________________________

(Signature) X_________________________________ Date_______________________________

(Print Name) X_________________________________

Rev. April,1995