SUBSCRIPTION AGREEMENT BETWEEN THE FUND AND THE INVESTOR NEW FRONTIERS KC INDIA FUND LETTER OF INVESTMENT INTENT

SUBSCRIPTION AGREEMENT BETWEEN THE FUND AND THE INVESTOR

NEW FRONTIERS KC INDIA FUND

LETTER OF INVESTMENT INTENT

February 1, 2011

To the Board of Trustees of New Frontiers Trust:

Effective as of the date first written above, each of the undersigned (the "Purchasers") subscribes to purchase a beneficial interest ("Interest") in the New Frontiers KC India Fund, in the amount of $50,000.00 for 5,000 shares at net asset value of $10.00 per share, in consideration for which the Purchasers agree to each transfer to you upon demand cash in the amount of $50,000.00.

The Purchasers agree that each Interest is being purchased for investment purposes only and with no present intention of reselling or redeeming said Interest.

/s/ Xxxxxx Xxxxx

Xxxxxx Xxxxx

/s/ Xxxxxx Xxxxxxx

Xxxxxx Xxxxxxx

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