Notice to Shareholders

OSSIAM LUX

Société Anonyme qualifying as a Société d'Investissement à Capital Variable

Registered Office: 49 Avenue J.F. Kennedy - L-1855 Luxembourg

R.C.S. Luxembourg B 160071

(the "Company")

Luxembourg September 9th, 2015

Notice to shareholders of OSSIAM US MINIMUM VARIANCE NR (the "Sub-Fund")

Dear Shareholder,

The board of directors of the Company (the "Board of Directors") would like to inform you that it has decided to amend the dividend policy for distributing shares set forth in the OSSIAM LUX Prospectus in relation to the Sub-Fund so that the Board of Directors be able to decide to make distributions not only out of the income, but also out of the capital attributable to the distributing shares. This change will be effective as of September 11th, 2015.

Copies of the Company's revised prospectus reflecting the above changes will be available on the website of the Company ([www.ossiam.com]), and a copy thereof may be obtained on request free of charge at the registered office of the Company [or at the offices of local representatives, once available].

Should you have any questions, you should seek advice from your stockbroker, bank manager, legal adviser, accountant or other independent financial adviser. Shareholders investing through the secondary market should also consult their usual professional advisers as to the potential specific tax implications under the laws of the countries of their nationality, residence, domicile or incorporation.

Yours sincerely,

On behalf of OSSIAM LUX,

The Board of Directors