EFTA01195950.pdf

March 10, 2014 To the King Street Capital, L.P. Limited Partners: In 2013, a King Street Capital, L.P. "side pocket" investment generated Virginia state source income. As a result, King Street Capital, L.P. is required to withhold Virginia income tax at the rate of 5% on each non-resident partner's share of Virginia source income unless an eligible partner elects to Opt-out of Virginia withholding. In addition, non-resident partners are required to file a Virginia income tax return reporting the allocated income and withholding. Eligible partners for the Opt-out election include: I) A pass-through entity. 2) A Real Estate Investment Trust (REIT), except Captive REITs. 3) An Individual who is exempt from paying Federal income taxes or Virginia income taxes. 4) A Corporation or other entity that is exempt from Virginia income tax. If you meet the above requirements and choose to Opt-out of withholding, please complete and execute the attached document, Virginia Withholding Opt-Out Election. Note the information provided on the Virginia Withholding Opt-Out Election will be included with the Form 502, Virginia Pass-Through Entity Return of Income and Return of Nonresident Withholding Tax, filed by King Street Capital, L.P. Please note that King Street Capital, L.P. is not eligible to file a Virginia composite return on your behalf. The Opt-out election must be e-mailed to by March 28, 2014. Failure to respond by March 28th will result in tax being withheld against your Virginia state source income. If you or your tax advisors have an uestions re arding this matter, please contact Investor Relations at or at EFTA01195950