SUMMARIZED FINANCIAL INFORMATION The following three financial statements (i.e. the Statement of Financial Condition of Capital Appreciation Plus L.P. I (the "Partnership") at September 30, 1996 and at December 31, 1995, and the Statement of Operations for the three months and nine months periods ended September 30, 1996 and 1995, and the Statement of Changes in Partners' Capital for the nine months ended September 30, 1996 and 1995, in the opinion of management, include all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the financial position and the results of operations for the periods indicated. Information as of September 30, 1996 and 1995 is unaudited. It is recommended that these financial statements are read in conjunction with the audited financial statements and notes thereto included in the Partnership's annual report on Form 10-K for the year ended December 31, 1995 (the "1995 Form 10-K"). These results are not necessarily indicative of results for a full year. CAPITAL APPRECIATION PLUS L.P. I STATEMENT OF FINANCIAL CONDITION (Unaudited) (Audited) Sept. 30, December 31, 1996 1995 --------- --------- ASSETS: Equity in commodities futures trading account: $ 84,147 62,067 Cash 8,022 6,964 Interest receivable 2,967 133 Fee rebates receivable 4,229 0 --------- --------- TOTAL ASSETS $ 99,365 69,164 ========= ========= LIABILITIES AND PARTNERS' CAPITAL LIABILITIES: Accrued custodian/service fees 500 1,500 Accrued fixed rate fee 122 2,459 Administration fee payable 5,035 14,397 Redemptions payable 208 1,022 --------- --------- TOTAL LIABILITIES $ 5,865 19,378 ========= ========= PARTNERS' CAPITAL General Partner 19,585 10,406 (500 Units outstanding) Limited Partners 73,915 39,380 (1901 and 1945 Units outstanding at 6/30/96 and 12/31/95 respectively) --------- --------- TOTAL PARTNERS' CAPITAL 93,500 49,786 ========= ========= TOTAL LIABILITIES AND $ 99,365 69,164 PARTNERS' CAPITAL ========= ========= NET ASSET VALUE PER UNIT $39.17 $20.45 ========= ========= CAPITAL APPRECIATION PLUS L.P. I STATEMENT OF OPERATIONS (UNAUDITED) Three Months Ended Nine Months Ended Sept. 30, Sept. 30, Sept. 30, Sept. 30, 1996 1995 1996 1995 REVENUES: Gains (losses) on trading futures contracts and options on futures: Realized gains (losses) on closed positions 32,331 14,047 54,395 ( 51,028) Net change in unrealized gains(losses) (25,413) ( 4,077) ( 2,831) ( 33,977) ------- ------- ------- ------- Net realized and unrealized gains(losses) 6,918 9,970 51,564 ( 85,005) Interest Income 1,263 909 3,088 3,616 ------- ------- ------- ------- Total Revenue 8,181 10,879 54,652 ( 81,389) ======= ======= ======= ======= EXPENSES Miscellaneous fees 1,075 1,639 ( 982) 5,014 Custodial and Administrative Fees 3,000 4,500 9,500 13,500 Execution Fees 618 600 1,597 2,398 Management Fees 0 899 ( 1,475) 3,596 ------- ------- ------- ------- Total Expenses 4,693 7,638 8,640 24,508 ====== ======= ======= ======= Net Income(loss) 3,488 3,241 46,012 (105,897) ====== ======= ======= ======= Net Income(loss) per weighted average unit of partnership interest 1.46 1.29 19.04 -39.45 ======= ======= ======= ======= CAPITAL APPRECIATION PLUS L. P. I STATEMENT OF CHANGES IN PARTNERS' CAPITAL FOR THE PERIOD FROM JANUARY 1, 1996 TO SEPTEMBER 30, 1996 AND FOR THE PERIOD FROM JANUARY 1, 1995 TO SEPTEMBER 30, 1995 Units of (Unaudited) Partnership Limited General Total Interest Partners Partner Partners' Capital 2,445 39,380 10,406 49,786 January 1, 1996 Net Income 36,794 9,180 45,974 Redemptions ( 58) ( 2,260) (2,260) Partners' Capital 2,387 73,914 19,586 93,500 September 30, 1996 Partners' Capital January 1, 1995 2,853 187,209 39,816 227,025 Net Income (86,521) (19,376) (105,897) Redemptions ( 339) (17,965) (17,965) Partners' Capital 2,514 82,723 20,440 103,163 September 30, 1995 RESULTS OF OPERATIONS Total assets of the Partnership at September 30, 1996 were approximately $99,365. Partnership capital at September 30, 1996 was approximately $93,500. Operating results during the Partnership's third quarter of 1996 were favorable with net profits of $3,488. The operating results reflect a net trading profit of approximately $6,918 and interest income of approximately $1,263. As a result, the Net Asset Value of a Unit of Limited Partnership Interest increased $1.46 per Unit from operations during the three month period ended September 30, 1996, achieving a Net Asset Value of $39.17 per Unit as of September 30, 1996. Part II OTHER INFORMATION Item 1 Legal Proceeding none Item 2 Changes in Securities not applicable Item 3 Defaults upon senior securities not applicable Item 4 Submission of matters to a vote of security holders not applicable Item 5 Other information none Item 6 Exhibits and reports on Form 8-K (a) Exhibits: none (b) Reports on Form 8-K: none SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Registrant By: Lamborn Commodity Pool Management, Inc. The General Partner Date: September 14, 1996 BY: George D. F. Lamborn President The General Partner, which signed above, is the only party authorized to act for the registrant. The registrant has no principal financial officer or chief accounting officer.