Estimated NAV 31 July 2008

    RNS Number : 5890A
  Goldman Sachs Dynamic Opportunities
  04 August 2008
   


    MONTHLY NAV ESTIMATE

    Goldman Sachs Dynamic Opportunities Limited (the "Company")

    Estimated Net Asset Value and Performance Data*

    As at the close of business on 31 July 2008, the estimated net asset value and performance of the Company's shares are as follows:

 Share Class     Net Asset     WTD       MTD       YTD 
                     Value             performa  performa
                            performan    nce       nce
                               ce
 GBP Shares   112.41 pence  (0.51) %   (1.89) %  (1.95) %
 EUR Shares     EUR 1.5944  (0.52) %   (1.94) %  (2.68) %
 US$ Shares     US$ 2.0446  (0.53) %   (2.14) %  (3.21) %

     *IMPORTANT NOTES
    1.  Calculation of Net Asset Value 
    This estimate of the Company's net asset value, which has been prepared in good faith by the Company's administrator, is for information
only.  Save as set forth below, it is determined based upon the latest available valuations (or estimated valuations) provided, directly or
indirectly, by the Company's underlying investment managers ("Advisors"). 
    The estimated net asset values per Ordinary Share for each currency class have been calculated on the basis that all C Shares of the
corresponding currency class then in issue had been converted into Ordinary Shares calculated based on the Company's 30 June Final NAVs. The
actual conversion ratios are expected to be available on or about 8 August 2008. 
    2. Calculation of Performance Data
    Set out above are the estimated week to date ("WTD"), estimated month to date ("MTD") and estimated calendar year to date ("YTD")
performance figures. The WTD performance figure is calculated by reference to the previously published estimated NAV. The MTD performance
figure is calculated by reference to the previous month's estimated NAV as published or, if published, the previous month's final NAV. The
YTD performance figure is calculated by reference to the NAV at the end of the last calendar year.
    3. ERISA
    The articles of association of the Company prohibit any purchase or acquisition of shares by or on behalf of or for the benefit of an
ERISA plan or benefit plan investor subject to similar laws (a "Plan Investor"), and incorporate provisions whereby purported purchases of
shares by or on behalf of or for the benefit of an ERISA plan or Plan Investor will not operate to confer any interest or rights whatsoever
in such shares in favour of an ERISA plan or Plan Investor, but instead will take effect as a trust for redemption in favour of the Company
and the Company will subsequently purchase or redeem such shares, which purchase or redemption may take place at an amount per share which
is less than the price paid by an ERISA plan or Plan Investor on the purported acquisition. 
    4. For the Attention of United States Residents
    The shares may not be offered or sold within the United States or to, or for the account or benefit of, US Persons (as defined in the
Regulation S under the Securities Act of 1933 or any person who would not be considered a Non-US person under Rule 4.7 of the United States
Commodity Exchange Act).
    5.  Investment Policy
    In seeking to achieve its investment objective, the Company allocates its assets (directly or indirectly) to a relatively concentrated
portfolio of Advisors (or entities managed by them) selected by the Company's investment manager (the "Investment Manager").  Such Advisors
employ a broad range of alternative investment strategies within the event driven, tactical trading, equity long/short and relative value
sectors. The Company seeks to make longer term core investments whilst also allocating more opportunistically to niche Advisors.
    There can be no assurance that the Company will achieve its investment objective or that it will be able to continue to implement its
investment policy, or that the portfolio design, risk monitoring and hedging strategies of the Company will be successful.
    6. Notes on Estimated Valuation
    Certain securities or other assets in which the Advisors invest may not be readily realisable or have a readily ascertainable market
price or may otherwise be extremely difficult to value and will be priced by the Advisors.  
    The Company may not have received valuations (or estimated valuations) from Advisors on a timely or current basis, and may not have
received valuations at all. In order to arrive at the net asset value, the Company will generally use the latest available valuations (or
estimated valuations) provided, directly or indirectly, by the Advisors. Valuations (or estimated valuations) received by the Company may be
unaudited or may be subject to little verification or other due diligence and may not comply with generally accepted accounting practices or
other valuation principles. Such estimates and valuations may not be considered "independent" or may be subject to potential conflicts of
interest. Further such valuations may take no account of any limited rights, lock-ups or other restrictions attached to those investments. 
    In addition, neither the Company's administrator nor its Investment Manager will generally have sufficient information to be able to
independently confirm or review the completeness, genuineness or accuracy of the Advisors' valuations (or estimated valuations). In certain
circumstances as set out in the Company's prospectus dated 2 May 2008, including if the Investment Manager determines, in its sole
discretion, that a valuation is inaccurate or incomplete, the Investment Manager may, in its sole discretion, determine the fair value of
the Company's interests independently of the Advisor's valuations based on information available to, and factors deemed relevant (at its
sole discretion) by, the Investment Manager at the time of such valuation.  
    Other risk factors which may be relevant to this estimated valuation are set out in the Company's prospectus dated 2 May 2008. 
    As a result of these factors, the actual value of the Company's assets may be materially different from this published estimated value.
In the event that an estimated valuation subsequently proves to be incorrect, no adjustment to a previously published estimated valuation is
expected to be made nor would compensation be payable. 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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