Company Particulars and Regulatory Status

The services described are provided by JPMorgan Cazenove Limited and its connected companies.

JPMorgan Cazenove Limited is authorised and regulated by the Financial Services Authority. It provides investment banking services, including corporate finance, capital markets and global equities. It is entered in the Financial Services Authority's register with register number 140767. Its registered office is at 20 Moorgate, London EC2R 6DA.

To access further information on the Financial Services Register, please refer to www.fsa.gov.uk/register/

Services supplied by JPMorgan Cazenove Limited and its connected subsidiaries may be subject to value added tax (VAT). JPMorgan Cazenove Limited is registered for VAT in the United Kingdom (GB 397249893), Germany (DE 220772442) and France(FR 26440398758).

Jurisdiction

None of the services, investments or funds referred to on this site are available or appropriate for sale or use in any jurisdiction where such activity is prohibited. Any persons resident outside the United Kingdom who access this site must first satisfy themselves that they are not subject to any local requirements which prohibit or restrict them from doing so.

Where services are provided by branches or approved banks outside the United Kingdom, the regulatory regime applying to those services may be different from that in the UK.

Risk Warnings

The material on this site is for information purposes only and the services, securities, investments and funds described may not be available to or suitable for you. Not all strategies are appropriate at all times. The opinions expressed on this site do not constitute investment advice and you should consult your investment advisor before you make any investment decision.

The value and income of any of the securities or investments and the price of shares and the income derived from them, which are mentioned on this site, may fall as well as rise. Investors may not receive the original amount invested in return. Statements concerning taxation are based on our understanding of the taxation law in force at the time of publication. The levels and bases of taxation may change. You should obtain professional advice on taxation where appropriate before proceeding with any investment. Investors should also be aware that past performance is not necessarily a guide to future performance. Funds which invest in overseas securities are exposed to movements in exchange rates. These may cause the sterling value of units to go up or down. Investments in higher yielding bonds issued by borrowers with lower credit ratings may result in a greater risk of default and have a negative impact on income and capital value. Income payments may constitute a return of capital in whole or in part. Income may be achieved by foregoing future capital growth. You should be aware of the additional risks associated with investment in emerging and developing markets. Unregulated collective investment schemes operated in offshore centres are unlikely to offer a level of investor protection equivalent to the UK. Such schemes may deal infrequently and may limit redemption.

Privacy Policy

Any personal data obtained in the course of providing our services to you will be held and processed by us in accordance with the relevant data protection legislation.

If you choose to submit personal information through this website or to JPMorgan Cazenove Limited or its subsidiaries you are agreeing that it can be used in the following ways:

• To provide the services described;
• For the prevention of money laundering;
• For the marketing by JPMorgan Cazenove Limited or any of its subsidiaries of other financial services and products to you;
• If you would prefer not to receive promotional material from us you may advise us separately in writing at any time;
• Unit and share prices are for information purposes only, they are not intended for trading purposes. We shall not be liable for any errors or delays in these prices, or for any actions taken in reliance thereon.
• To analyse and track sales trends and investment performance in aggregate form for your benefit;
• Personal information will be given to third parties only so far as it is necessary to fulfil these objectives and in accordance with the Data Protection Act 1998.
• This may include distribution to a third party provider of support services outside of the EEA;
• Personal information may be transferred to any connected companies of JPMorgan Cazenove Limited to fulfil our service obligations;
• You agree to the disclosure of personal information to any regulatory authority to which JPMorgan Cazenove Limited or its connected companies are subject;
• Electronic communications between parties in the course of business may be monitored by us in accordance with the relevant legislation;
• We respect your privacy and will not supply personal information to anyone else unless you have given your permission for us to do so.

Although we take all reasonable steps to ensure the security of your personal information over the Internet, such as using available means of encryption and privacy protection, the internet is not an entirely secure environment and for this reason we cannot guarantee that information will not be intercepted read or copied by unauthorised parties. You accept these inherent security implications and will not hold us responsible for any breach of security unless we have been negligent.

You have a right to request access to any personal data held by us.

Disclaimers

• We undertake to comply with our obligations under the Financial Services and Markets Act 2000 and the disclaimers set out in this section do not exclude or restrict liability for any duty to clients under this Act or any other applicable regulatory authority.
• None of the information or opinions expressed on this site constitute an offer to sell or the solicitation of an offer to buy securities, or to provide any of the services described.
• We have taken all reasonable care to ensure that the information contained within these pages is accurate, up to date, and complies with all prevailing UK legislation. However, no liability can be accepted for any errors or omissions, or for any loss resulting from the use of this Internet service.
• We accept no responsibility for information or software provided by other sites which may be accessed by hypertext link from these pages, and are not responsible for the maintenance or availability of such pages or the information or software which they contain.
• Any data and research material provided ahead of an investment decision are for information purposes only. We shall not be liable for any errors or delays in the provision of this information, or for any actions taken in reliance thereon.
• We reserve the right to amend, alter, or withdraw any of the information contained in these pages at any time and without notice. No liability is accepted for such changes, or for the pages not being available at all times.
• This site may include forward-looking statements that are based upon our current opinions, expectations and projections. We undertake no obligation to update or revise any forward-looking statements. Actual results could differ materially from those anticipated in the forward-looking statements.

Other Terms and Conditions

If you transact using the services on this site you agree to be bound by the full Terms and Conditions applicable to those services. These will be provided to you in advance.