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Legal Notice

You, the user ("you", "your", "User"), are connected to private.smbcnikko-lu.com, website (hereinafter the "Web-site") owned by SMBC Nikko Bank (Luxembourg) S.A. ("SNBL", "we", "us")

SMBC Nikko Bank (Luxembourg) S.A.

2, rue Hildegard von Bingen

L-1282 Luxembourg

Grand Duchy of Luxembourg

SNBL is a public limited company governed by Luxembourg law and registered with the Luxembourg Register of Trade and Companies under number B 11809, whose VAT registration number is LU11168074 and SWIFT:NIKOLULL.

SNBL, as credit institution authorised by the Ministry of Finance of the Luxembourg government under a universal banking license, is subject to the supervision of the Commission de Surveillance du Secteur Financier, Luxembourg financial regulator, whose contact details are : 283, route d'Arlon, L-1150 Luxembourg, telephone:(+352) 26 25 1-1, fax:(+352) 26 25 1-2601, www.cssf.lu.

SNBL provides you, with an access to online data, information and materials (the "Information") via the "Web-site" subject to the following Terms and Conditions ("T&C").

The Information published on this Web-site shall be considered as "commercial communication" within the meaning of the Luxembourg law of 14 August 2000, as amended, on electronic commerce. By accessing this Web-site, you accept in advance any communication of a commercial nature that you receive from SNBL via the Web-site or by electronic mail ("e-mail").

By viewing and/or when using this Web-site on behalf of your company ("Client"), you represent and warrant that you are authorized to access and use this Web-site and to agree to the following T&C on yours and on your company's behalf. Except where expressly provided to the contrary herein, "Client" shall refer to User and Client jointly and severally. References to "Clients" shall be construed accordingly.

Please read these entire T&C carefully before you use the Web-site. If you do not agree to all these terms, do not access this Web-site or any of its pages. By using this Web-site, and whether or not you actually read these T&C, you are deemed to have accepted them.

Subject to the terms and conditions set forth in specific agreements, the following T&C constitute the entire agreement and understanding between you and us, superseding any prior agreements and understandings governing your access and use of this Web-site.

SNBL may amend these T&C at any time and without notice. Your continued access and use of the Web-site after any such amendment shall indicate your acceptance of, and consent to, any such amendment.

Access to the Web-site

Insofar as the Web-site can be accessed from anywhere in the world, it is your own responsibility while connecting to the Web-site to comply with the laws, rules and regulations of the country in which you are i) resident and/or domiciled; and/or ii) accessing and using the Web-site, and you will bear any direct or indirect consequences resulting from non-compliance with these legal and regulatory requirements. SNBL cannot under any circumstances be held liable for such violation.

Cookies

You are hereby informed that when visits are made to the Web-site, a cookie may be installed automatically and retained temporarily in the memory of your IT equipment. Cookies do not make it possible to identify users, rather they record information about the users' use of a website so as to facilitate in particular navigation thereon. You acknowledge that you have been informed of this practice and authorize SNBL to use it. You may deactivate the cookie using the settings in your navigation software.

Information available on the Web-site

This Web-site and its content are for information purposes only.

In no case shall any Information posted on the Web-site constitute an investment advice or a solicitation or an offer to buy, sell or otherwise deal with any securities, products, services or other financial instruments. The Web-site is not to be used for the transmission of investment, accounting, legal or tax advice. No Information on this Web-site is to be relied upon for the purpose of making or communicating investment decisions.

None of the Information posted on, or referred to in, the Web-site is available to Clients resident and/or domiciled in any jurisdiction where this would be contrary to local laws, rules or regulations. Said Information may not be suitable to Client and Client shall make its own independent evaluation of the investment merits and suitability for itself, or the investors for which Client is acting in any capacity whatsoever, of any such Information.

The Web-site may contain hyperlinks to sites that are not controlled by SNBL. In consequence, SNBL shall not have any liability for the contents of sites that you are able to access through the Web-site nor for the services, products or materials offered by those sites.

The Information posted on the Web-site may be withdrawn or modified at any time without prior warning.

Copyright

You may download the Information posted on the Web-site for your personal, or Client's internal, use and for a period limited to your and Client's needs. You are also authorised to print the downloaded Information onto paper, provided that any copies thus produced are limited to your personal, or Client's internal, use.

You undertake not to copy, reproduce, recompile, decompile, disassemble, distribute, publish, display, modify, upload to create derivative works from, transmit, or in any way exploit any part of, the content of the Web-site.

Additionally, you shall not offer any part of said content for sale or distribute such part over any medium, including, but not limited to, distribution by television or radio broadcast, or distribution on a computer network. You shall not make any part of the Web-site available as part of another site, whether by hyperlink framing on the Internet or otherwise. The Web-site and the Information therein contained may not be used to construct a database of any kind nor may the Web-site be stored (in its entirety or in any part) in databases for access by you or any third party or to distribute any database sites containing all or part of the Web-site.

No warranty

The Information contained on this Web-site is provided on an as is and as available basis. Said Information may be based upon third party sources that SNBL believes to be reliable. However, no guarantee nor warranty of any kind, express, implied or statutory, is given by SNBL as to the accuracy, adequacy, completeness, up-to-date nature or, more generally, the quality or the reliability of any such Information and SNBL expressly disclaims liability for errors or omissions in such Information. Any dated Information is published as of its date only, and SNBL does not undertake any obligation or responsibility to update or amend any such Information.

SNBL does not warrant that the use of the Web-site will be uninterrupted or error-free or that defects will be corrected. You are responsible for taking all precautions necessary to ensure that any Information you may obtain from or through the Web-site is free of viruses and other disabling contamination. Further, you are solely responsible for obtaining and maintaining your computer, for obtaining any telecommunications links needed to use the Web-site, and for making arrangements for appropriate software and Internet access.

Limitation of liability

In no event shall SNBL be liable for any damages, including without limitation, direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the Web-site or its use, or the inability to use, or in connection with any failure of performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure.

Indemnification

You and Client, jointly and severally, will indemnify and keep indemnified SNBL, and its respective directors, officers, employees and agents, fully and effectively (to the fullest extent permitted by applicable laws) from and against any and all claims, actions, demands, proceedings, losses, liabilities, damages, costs and expenses (including legal fees, costs and expenses on a full indemnity basis) suffered or incurred by SNBL arising out of or relating directly or indirectly to: (i) Client's actions that are inconsistent with, or in breach of, these T&C; (ii) Client's violation of any applicable national or international laws, rules or regulations in connection with its use of the Web-site; and (iii) any third party claims arising out of, or in connection with, Client's use of, or inability to use, the Web-site.

Governing law

The access and use of this Web-site shall be governed by, and construed in all respects in accordance with, the laws of the Grand Duchy of Luxembourg. The courts of the Grand Duchy of Luxembourg shall have exclusive jurisdiction for any claim or dispute arising from the access or use of this Web-site.

SNBL failure to exercise or enforce any right or provision of these T&C shall not constitute a waiver of such right or provision.

If any provision of these T&C (or any portion thereof) shall be invalid, illegal or unenforceable, the validity, legality or enforceability of the remainder of these T&C shall not in any way be affected or impaired thereby.