TERMS AND CONDITIONS

This web site contains material which is proprietary to Charles Street Securities Europe LLP, (“CSS Europe"). Viewers are invited to review the CSS Europe web site (“Web Site”) subject to agreeing to the conditions below:

The contents of the Web Site have no regard to the specific investment objectives, financial situation or particular needs of any specific viewer. This Web Site is published for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Unless specifically stated otherwise, all price information is indicative only. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the contents of the Web Site, nor are the contents a complete statement of the securities, markets or developments referred to herein. The Web Site should not be regarded by recipients as
a substitute for the exercise of their own judgment. Any opinions are subject to change without notice and may differ or be contrary to opinions expressed by other business areas or groups of CSS Europe as a result of using different assumptions and criteria. CSS Europe is not under any obligation to update or keep current the information contained herein.

CSS Europe, its related entities, directors, employees and agents accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or part of the Web Site. Certain laws and regulations impose liabilities which cannot be disclaimed. This disclaimer shall in no way constitute a waiver or limitation of any rights a person may have under such laws and/or regulations.

CSS Europe, its directors, officers, employees or clients may have or have had interests or long or short positions in the securities and/or currencies referred to herein, and may at any time make purchases and/or sales in them as principal or agent. Furthermore, CSS Europe may have or have had a relationship with or may provide or have provided investment banking, capital markets and/or other services to the relevant companies. Employees of CSS Europe may serve or have served as officers or directors of the relevant companies. CSS Europe may rely on information barriers, such as "Chinese Walls," to control the flow of information contained in one or more areas within CSS Europe into other areas, units, groups or affiliates of CSS Europe.

The securities described herein may not be eligible for sale in all jurisdictions or to certain categories of investors. Private equity investments and certain investments offered by CSS Europe are not suitable for all investors, and these products are considered risky. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any products mentioned in the Materials. Clients wishing to effect transactions should contact a CSS Europe Client Adviser.