This sales and advertising literature must be read inconjunction with the prospectus in order to understandfully all of the implications and risks of the offering ofsecurities to which it relates. A copy of the prospectusmust be made available to you in connection with this

offering. This is neither an offer to sell nor a solicitationof an offer to buy the securities described herein. An

offering is made only by the prospectus.

Multi-advisor commodity poolsponsored by

Dearborn Capital Management, LLC

Monthly Flash ReportApril 30, 2008

Continuous operation since 1989

Grant Park’s positions in fixed income registered losses inApril. The majority of the setbacks came from long posi-tions in the Japanese Government Bond (JGB) markets.After an impressive rally in March, JGBs plummeted earlyin the month due to technical profit-taking by traders look-ing to get a jump on performance early in the newJapanese fiscal year. Adding to the decline was a drop indemand for Japanese fixed income products as was wit-nessed through the poor results of 2008’s first Japanesebond auction. Rallies in the U.S. equity markets movedagainst Grant Park’s short positions last month.Speculators drove equity markets upwards on beliefs thatthe U.S. economy is slowly turning a corner. Supportingthese beliefs was news of large capital infusions at financialfirms such as Lehman Brothers and UBS, and strong earn-ings reports from technology firms such as Google, IBM,and Intel. Short positions in international equity indices,namely the Dax and Nikkei 225, also experienced setbackson visions of an improving economy. Long positions inthe metals markets, namely gold, finished slightly negativethis month. Despite a steady uptrend in the first half ofthe month, gold ended April slightly lower. Gold priceswere driven down by many speculators liquidating theirpositions in response to a strengthening U.S. dollar.Despite losses in the livestock sector, the softs/agriculturalsportion of the portfolio produced modest gains this month.Long positions in the corn and soybean markets becameprofitable as ongoing poor weather conditions tormentedMidwest farming regions. Delayed plantings due to heavyrains and cool temperatures fueled the upsurge. GrantPark’s currency positions posted gains this month. Theeffects of a rally in the U.S. dollar against the portfolio’sshort positions were offset by profitable uptrends in variousminor currency crosses. Positions in the Mexican peso,Singapore dollar, South African rand, and Columbian pesocontributed to the sector’s gains. Long positions across theentire energy sector proved to be profitable this month asmany of the energy markets hit new all-time highs. Crudeoil was the biggest contributor to the sector as it reached ahigh of $119.93 per barrel. The rally in the crude marketswas driven by supply concerns from some of the globe’sbiggest oil producing nations. Violence in Nigeria againstvarious Exxon Mobil production facilities and refusal ofOPEC to increase crude supply were the main driversbehind this month’s energy moves

MONTHLY COMMENTARY

G R A N T P A R K F U T U R E S F U N D , L P • A P R I L 3 0 T H 2 0 0 8

ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURERESULTS. FUTURES TRADING INVOLVES A HIGH DEGREE OF RISK AND IS NOT SUITABLE FOR ALL INVESTORS.2

METALS8%

INTEREST RATES26%

CURRENCIES24%

AGS/SOFTS15%

STOCK INDICES16%

ENERGY11%

For a list of markets traded in each market sector, please refer to the end of this presentation.

This pie chart illustrates the estimated average relative weighting assigned to each market sector amongst each ofGrant Park’s trading advisors and through its investment in the Dearborn Select Master Fund, SPC - WintonSegregated Portfolio - Class GP assuming current allocations to the trading advisors. This chart does not reflectactual positions held at any time or over any period. The trading advisors do not maintain positions in all marketsat all times. On any given day, the actual markets traded as well as the absolute and relative commitment in suchmarkets, will vary greatly. Additionally, allocations amongst the trading advisors may vary over time.

April 30, 2008 Statistics*

Class A Units Class B Units

Monthly Rate of Return (0.13%) (0.20%)

Year-to-Date Return 11.54% 11.23%

Net Asset Value $1,460.645 $1,270.947

Statistics since inception – Class A Units **January 1, 1989 through April 30, 2008

Total Fund Assets (A and B): $518M12 Month Return: 28.93%36 Month Cumulative Return: 44.07%60 Month Cumulative Return: 42.41%Compounded Annual ROR: 16.40%3 Yr. Comp. Ann. ROR: 12.94%5 Yr. Comp. Ann. ROR: 7.33%10 Yr. Comp. Ann. ROR: 8.95%Average 12-Month Return: 20.91%Worst Drawdown (5/89-10/89): (38.87%)Worst Drawdown Last 5 Years (2/04-8/04): (23.65%)Average 1-Month Gain: 7.14%Average 1-Month Loss: (4.72%)# of Winning Months 124# of Losing Months: 108

See the glossary at the end of this presentation for definitions relevant tothis table.

*The portion of Grant Park’s net assets allocated to Winton CapitalManagement was reallocated to the Dearborn Select Master Fund, SPC -Winton Segregated Portfolio - Class GP.

**Most new investors are expected to invest in Class B Units, which carryan additional 0.96% in fees and expenses.

Grant Park Sector Exposure as of April 30, 2008

HISTORICAL PERFORMANCE

ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURERESULTS. FUTURES TRADING INVOLVES A HIGH DEGREE OF RISK AND IS NOT SUITABLE FOR ALL INVESTORS.

G R A N T P A R K F U T U R E S F U N D , L P • A P R I L 3 0 T H 2 0 0 8

3

Class B Units carry an additional 0.96% in fees and expenses per year over Class A Units.

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

0.97%

5.20%

(12.36%)

(15.23%)

2.38%

(13.74%)

(10.69%)

(1.09%)

6.82%

1.96%

(2.02%)

(1.12%)

1.86%

(0.87%)

2.72%

0.38%

(5.96%)

3.49%

1.25%

2.49%

(3.29%)

6.32%

(13.31%)

(5.32%)

18.13%

(9.39%)

16.37%

(13.59%)

7.61%

2.62%

7.95%

0.69%

0.53%

(5.95%)

5.77%

7.33%

3.42%

(3.28%)

(4.18%)

9.66%

17.34%

22.20%

1.75%

(2.32%)

1.57%

23.25%

20.67%

(1.34%)

1.06%

(1.08%)

(5.18%)

(1.70%)

6.63%

2.26%

(7.47%)

(1.40%)

(0.51%)

4.06%

(4.55%)

(0.63%)

(9.51%)

31.10%

(6.52%)

(4.13%)

15.69%

2.31%

10.88%

4.97%

(8.45%)

(7.46%)

2.92%

(3.84%)

(4.51%)

(3.07%)

2.57%

(11.66%)

(5.05%)

9.46%

5.23%

(0.13%)

26.07%

(15.80%)

(1.90%)

(2.34%)

2.30%

14.29%

14.93%

(4.35%)

(0.91%)

3.13%

(5.51%)

1.80%

(0.47%)

5.17%

9.68%

(4.75%)

3.98%

(0.81%)

4.60%

(3.31%)

14.00%

3.93%

8.33%

(2.34%)

14.25%

(1.82%)

2.32%

0.34%

(0.37%)

0.22%

(3.51%)

(2.66%)

10.07%

(1.26%)

(4.47%)

1.89%

(2.85%)

4.16%

0.70%

16.03%

(10.99%)

16.34%

20.56%

(5.96%)

(14.36%)

(1.48%)

15.73%

(0.30%)

(2.68%)

(1.60%)

0.12%

6.63%

(0.49%)

(3.36%)

(1.96%)

(3.66%)

(3.72)

(21.72%)

22.83%

(1.85%)

7.34%

0.16%

(6.26%)

(11.29%)

(2.53%)

(8.17%)

24.62%

(1.16%)

4.36%

2.88%

1.57%

0.19%

(0.32%)

1.97%

2.20%

(3.71%)

(1.68%)

14.76%

6.76%

(11.40%)

(3.99%)

2.76%

(10.54%)

3.81%

2.92%

6.23%

1.54%

(2.30%)

3.69%

2.87%

0.13%

1.07%

(0.04%)

(1.10%)

8.78%

(18.43%)

5.49%

0.12%

(0.72%)

(5.39%)

(7.54%)

(5.40%)

14.82%

(5.18%)

(4.64%)

(8.65%)

0.80%

5.30%

(6.04%)

2.52%

3.43%

(3.38%)

(0.64%)

5.23%

5.37%

2.83%

(0.21%)

2.41%

4.57%

15.50%

2.77%

7.80%

0.81%

(3.21%)

2.10%

8.91%

(7.80%)

(2.53%)

(0.91%)

8.45%

4.16%

3.59%

(0.66%)

29.00%

(2.65%)

35.80%

(5.55%)

13.15%

(0.17%)

18.69%

(6.99%)

6.10%

2.09%

3.05%

9.00%

2.14%

5.58%

6.00%

(0.89%)

(1.36%)

(0.92%)

0.63%

8.61%

197.04%

(6.77%)

(15.50%)

84.25%

24.30%

23.04%

(0.59%)

17.31%

22.40%

(8.24%)

10.97%

7.00%

15.25%

20.03%

(7.58%)

(3.44%)

9.11%

12.63%

11.54%

A UnitYTDDecNovOctSepAugJulJunMayAprMarFebJan

2003

2004

2005

2006

2007

2008

0.31%

(6.04%)

3.41%

1.18%

2.42%

7.25%

3.34%

(3.35%)

(4.25%)

9.58%

(1.47%)

(0.59%)

3.98%

(4.62%)

(0.70%)

(11.72%)

(5.12%)

9.38%

5.15%

(0.20%)

(4.82%)

3.90%

(0.88%)

4.52%

(4.55%)

1.81%

(2.92%)

4.09%

(3.44%)

(2.03%)

(3.73%)

(3.79%)

0.12%

(0.40%)

1.89%

2.12%

(3.78%)

0.06%

0.99%

(0.11%)

(1.17%)

8.70%

2.45%

3.35%

(3.45%)

(0.71%)

5.16%

(0.98%)

8.37%

4.08%

3.51%

(0.73%)

5.93%

(0.96%)

(1.35%)

(0.90%)

0.64%

7.66%

(8.40%)

(4.25%)

8.28%

11.76%

11.23%

B UnitYTDDecNovOctSepAugJulJunMayAprMarFebJan

THE RISKS

• Performance can be volatile and you could lose all or substantially all of your investment in Grant Park Futures Fund.

• No secondary market exists for Grant Park. Additionally, redemptions are limited and may result in early redemption fees.

• Trading in commodity interests is a zero-sum economic activity in which, for every gain, there is an offsetting loss. Grant Parktherefore bears the risk that, on every trade, it will incur the loss.

• Commodity futures trading may be illiquid.

• An investment in Grant Park is speculative and leveraged; as a result of this leverage, the velocity of potential losses mayaccelerate and cause you to incur significant losses.

• Grant Park pays substantial fees and expenses, including fees to its trading advisors, which must be offset by trading profits andinterest income.

• Grant Park invests in foreign securities, which are subject to special risks such as currency fluctuations, different financial andregulatory standards, and political instability.

• Grant Park’s use of multiple trading advisors may result in Grant Park taking offsetting trading positions, thereby incurringadditional expenses with no net change in holdings.

• You will have no right to participate in the management of Grant Park.

• The structure and operation of Grant Park involve several conflicts of interest.

Class A Unit Performance

Class B Unit Performance

555 West Jackson, Suite 600Chicago, IL 60661312.756.4450 Phone312.756.4452 Fax800.217.7955 Toll-Freefunds@dearborncapital.comwww.dearborncapital.com

The following glossary may assist prospectiveinvestors in understanding certain termsused in this presentation; please refer toAppendix E in the prospectus for a morecomplete glossary of additional termsrelevant to this offering:

Average 12-Month Return: The average(arithmetic mean) return of all rolling 12-month periods over the investment trackrecord. This is calculated by summing all12-month period returns and then dividingby the number of 12-month periods. Thissimple average does not take into accountthe compounding effect of investmentreturns.

Compounded Annual Rate of Return(ROR): This is the geometric 12-monthmean that assumes the same rate of returnfor each 12-month period to arrive at theequivalent compound growth rate reflectedin the actual return data.

Drawdown: A drawdown is any losingperiod during an investment’s performancehistory. It is defined as the percentretrenchment from an equity peak to anequity valley. Maximum drawdown issimply the largest percentage drawdownthat has occurred during the specifiedtime frame. Grant Park’s drawdownsare computed based on month-end equityvalues.

Net Asset Value per Unit: This is the totalnet asset value of a class of units dividedby the aggregate number of units of suchclass outstanding as of the date noted.

Interest RatesUS Bonds & NotesEuropean BondsPacific Rim Bonds

EnergyCrude OilHeating OilNatural GasUnleaded Gas

MetalsGoldSilverNickelCopperAluminum

GLOSSARY NOTES

Market Sectors: Market Sectors represented in the pie charton page 2 of this brochure include over 80 individualmarkets traded in over 13 countries. Some of these marketsare noted below:

CurrenciesUS DollarEuroBritish PoundYenAustralian DollarMexican Peso

Stock IndicesUSEuropeanPacific Rim

Agriculturals/SoftsGrainsMeatsCottonCoffeeSugarOrange JuiceCocoa

INVESTMENT HIGHLIGHTS

Minimum Investment:Class B Units: New Accounts - $5,000 Individual/$1,000 ERISAor qualified plans. Additional minimum investments $1,000.Class A Units: New Accounts - $200,000. Additionalminimum investments $15,000 Individual/$4,000 ERISAor qualified plans.

General Partner:Dearborn Capital Management, LLC

Portfolio Managers:Rabar Market Research, EMC Capital Management, EckhardtTrading Company, Graham Capital Management, WeltonInvestment Corporation and Winton Capital Managementthrough the Dearborn Select Master Fund, SPC - WintonSegregated Portfolio Class - GP.

Redemptions:Units are redeemable monthly with a redemption feeapplicable for the first 12 months of investment for Class BUnits only. No redemption fee for Class A Units. Pleaserefer to prospectus for Class B redemption fee schedule.

Suitability:Varies from state to state but at least a minimum of $70,000annual income and a net worth of $70,000 exclusive ofhome, auto and furnishings, or $250,000 net worth.Check prospectus for individual state suitability. Noinvestor should invest more than 10% of his or her networth. Please check with your Financial Advisor as firmrequirements may also vary.