This sales and advertising literature must be read in conjunction with the prospectus in order to understand

fully all of the implications and risks of the offering ofsecurities to which it relates. A copy of the prospectus

must be made available to you in connection with thisoffering. This is neither an offer to sell nor a solicitation

of an offer to buy the securities described herein. An offering is made only by the prospectus.

Multi-advisor commodity pool sponsored by

Dearborn Capital Management, LLC

Monthly Flash ReportOctober 31, 2007

Continuous operation since 1989

Energy positions produced the largest gains forGrant Park during October. Crude oil prices set historical highs above $95 per barrel on growingtensions in the Middle East, a weak U.S. dollar andlow supply as a result of weather related disruptionsin the Gulf of Mexico. Long positions in the cur-rency sector reported profits after the U.S. FederalReserve’s 25 basis-point rate cut sparked a sell-off inthe U.S. dollar. The greenback, which had alreadycome under pressure after a reported drop inSeptember existing home sales, plunged against theeuro, Canadian dollar and British pound after theannouncement and continued lower on specula-tion that the central bank might lower rates oncemore before the end of the year. The Hong Kongshare market traded above the 30,000 level duringthe month, adding to Grant Park’s gains. Longpositions in the Hang Seng were profitable asBeijing’s decision to allow mainland Chinese toinvest abroad sent the index higher. Domestically,long positions in the Nasdaq-100 index recordedgains on a round of strong earnings reports fromthe technology sector. Long positions in gold wereprofitable after the precious metal reached its highest level in 27 years. The weaker U.S. dollarand rising energy prices spurred investors to buygold as protection against the possibility of risinginflation. Platinum prices also rallied, adding togains. Positions in the interest rate sector gainedground, particularly in the foreign markets. Longpositions in the Japanese Government Bond marketwere profitable after prices rose on flight-to-qualitybuying on behalf of investors seeking to reduceexposure to the volatility of global equity markets.Lastly, wheat prices fell during the month, resultingin losses for long positions in the soft/agriculturalcommodities sector. The sell-off was influenced bythe expectation that recent historically high priceswould persuade U.S. farmers to dedicate additionalacreage to wheat production. Additional losseswere incurred from longs in the coffee market,where prices fell after rain in Brazil alleviated wor-ries of crop damage following a recent dry spell.

MONTHLY COMMENTARY

G R A N T P A R K F U T U R E S F U N D , L P • O C T O B E R 3 1 S T 2 0 0 7

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 reflect actual positions held at any time or over any period. The trading advisors do not maintain positions in all markets at 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.

October 31, 2007 Statistics*

Class A Units Class B Units

Monthly Rate of Return 5.23% 5.16%

Year-to-Date Return 12.67% 11.87%

Net Asset Value $1,309.868 $1,143.739

Statistics since inception – Class A Units ** January 1, 1989 through October 31, 2007

Total Fund Assets (A and B): $456M12 Month Return: 15.64%36 Month Cumulative Return: 27.59%60 Month Cumulative Return: 35.51%Compounded Annual ROR: 16.20%3 Yr. Comp. Ann. ROR: 8.46%5 Yr. Comp. Ann. ROR: 6.27%10 Yr. Comp. Ann. ROR: 8.03%Average 12-Month Return: 20.88%Worst Drawdown (5/89-10/89): (38.87%)Worst Drawdown Last 5 Years (2/04-8/04): (23.65%)Average 1-Month Gain: 7.21%Average 1-Month Loss: (4.84%)# of Winning Months 121# of Losing Months: 105

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

*Effective 6/1/2007, the portion of Grant Park’s net assets allocated toWinton Capital Management was reallocated to the Dearborn SelectMaster 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 October 31, 2007

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 • O C T O B E R 3 1 S T 2 0 0 7

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

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%

(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%)

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%)

(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%

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%

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%)

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%

12.67%

A UnitYTDDecNovOctSepAugJulJunMayAprMarFebJan

2003

2004

2005

2006

2007

0.31%

(6.04%)

3.41%

1.18%

7.25%

3.34%

(3.35%)

(4.25%)

(1.47%)

(0.59%)

3.98%

(4.62%)

(11.72%)

(5.12%)

9.38%

5.15%

(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%

5.93%

(0.96%)

(1.35%)

(0.90%)

7.66%

(8.40%)

(4.25%)

8.28%

11.87%

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 Park therefore 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 may accelerate 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 and interest income.

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

• Grant Park’s use of multiple trading advisors may result in Grant Park taking offsetting trading positions, thereby incurring additional 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 terms relevant 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 is simply the largest percentage drawdownthat has occurred during the specified time frame. Grant Park’s drawdowns are 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 individual markets 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. Additional minimum investments $15,000 Individual/$4,000 ERISA or qualified plans.

General Partner:Dearborn Capital Management, LLC

Portfolio Managers:Rabar Market Research, EMC Capital Management, Eckhardt Trading Company, Graham Capital Management, WeltonInvestment Corporation and effective 6/1/2007, WintonCapital Management through the Dearborn Select MasterFund, SPC - Winton Segregated Portfolio Class - GP.

Redemptions:Units are redeemable monthly with a redemption fee applicable for the first 12 months of investment for Class BUnits only. No redemption fee for Class A Units. Please refer 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. No investor should invest more than 10% of his or her networth. Please check with your Financial Advisor as firm requirements may also vary.