BNP Paribas Securities Corp. is a broker-dealer that is registered in the U.S. with the Securities Exchange Commission, and is a member of the New York Stock Exchange, Chicago Board Options Exchange, Secutities Investor Protection Corporation (http://www.sipc.org/Home.aspx) and various other self regulatory organizations. To the extent that material on the Site is issued in the U.S., it has been reviewed for compliance with applicable laws within this jurisdiction.

Your acceptance of these terms and conditions will give rise to a legally binding contract on the above terms between you (or where you access this Site as an employee, your employer) and BNP Paribas which will be subject to U.S. law and any disputes concerning this agreement or the subject matter hereof shall be submitted to the exclusive jurisdiction of the U.S. courts. Where you act as employee, you must ensure that you are authorised to do so and agree to these conditions on behalf of your employer. Your acceptance of these conditions constitutes your personal representation and warranty that you are so authorised

Use of Information and Material. This Site and the information herein are for general information purposes only. In addition, the information and materials contained in this Site and the terms and conditions of the access to and use of such information and materials are subject to change without notice.

Materials and information posted on the Site may not be duplicated, copied, re-disseminated or re-distributed to any other person or entity without the express consent of BNP Paribas or its affiliates. You agree that the foregoing prohibitions shall survive the termination of this Access Agreement

The materials contained on the Site may not be suitable for all customers, private investors or those who would be private customers were they to act on any information contained within the Site, and should not be passed on to any such person.

Where the information consists of pricing or performance data, the data contained therein has been obtained from sources believed reliable. Data computations are not guaranteed by any information service provider, third party or us or any affiliates and may not be complete. Neither any information service provider, third party or BNP Paribas gives any warranties, as to the accuracy, adequacy, quality of fitness, timeless, non-infringement, title, of any information for a particular purpose or use and all such warranties are expressly excluded to the fullest extent that such warranties may be excluded by law. You bear all risk from any use or results of using any information. You are responsible for validating the integrity of any information received over the Internet. Any values or prices are provided for information purposes only and are intended solely for your use. Prices or values may not represent (i) the actual terms at which new transactions could be entered into, (ii) the actual terms at which existing transactions could be liquidated or unwound or (iii) the calculation or estimate of an amount that would be payable following the designation of any early termination date under any agreement governing our trading relationship, and BNP Paribas does not warrant their completeness or accuracy.

Certain valuations are derived from proprietary models based upon recognized financial principles and reasonable estimates about relevant future market conditions. Valuations based on other models or different assumptions may yield different results. BNP Paribas expressly disclaims any responsibility for (i) the accuracy of the models or estimates used in deriving the valuations, (ii) any errors or omissions in computing or disseminating the valuations and

(iii) any reliance on or uses to which the valuations are put. Note that in performing the calculations of the present value of all future cash flows for some instruments, it may have been necessary to make estimates about future market conditions. In these cases our calculations have been performed using BNP Paribas' reasonable estimates of the relevant future market conditions. These models are subject to change without notice

Not all products and advisory or management services are available in all geographic areas. Your eligibility for particular products and advisory or management services is subject to local law and regulation. Unauthorized use of the Site and BNP Paribas' systems, including but not limited to unauthorized entry into BNP Paribas' system, misuse of passwords or misuse of any information posted on this Site, is strictly prohibited. Your eligibility for a particular product or service is subject to final determination by BNP Paribas.

BNP Paribas respects your privacy. Any personal data collected when visiting the Site is processed according to applicable law. You acknowledge that BNP Paribas may disclose and transfer any information that you provide through this Site (i) to any company within BNP Paribas, its affiliates, agents, or information providers; (ii) to any other person or entity with your consent; or (iii) if we have a right or duty to disclose, or are permitted or compelled to so disclose, such information by law. You consent to the transmission, transfer, or processing of such information to, or through, any country in the world, as we deem necessary or appropriate (including to countries outside the U.S.), and by using and providing information through this Site, you agree to such transfers. Any information about you that we provide through this Site to third parties will comply with applicable law, including Regulation (S-P).

Use of this Site may be monitored, tracked, and recorded. Anyone using this Site expressly consents to any such monitoring, tracking, and recording.

Ownership. Copyright © BNP Paribas. All Rights Reserved. All content of the pages and in the screens displaying the pages, and in the information and material therein and in their arrangement and "look and feel" of the Site, is, unless otherwise specifically stated, owned by BNP Paribas and is protected by copyright, database rights or other intellectual property rights. BNP Paribas will enforce such rights to the full extent of applicable law. Except as otherwise agreed in writing or to the extent necessary to use the Site in accordance with these terms and conditions, you shall not: (1) copy the Site in whole or in part (except to make backup copies solely for disaster recovery purposes); (2) display, reproduce, create derivative works from, transmit, sell, distribute, rent, lease, sublicense, time-share, lend or transfer or in any way exploit the Site in whole or in part; (3) embed the Site into other products; (4) use the Site in any timesharing arrangement; (5) create function calls or other embedded links from any software program to the Site; (6) remove or obscure any copyright notice of BNP Paribas or any of its suppliers; (7) use any trademarks, service marks, domain names, logos, or other identifiers of BNP Paribas or any of its third party suppliers; or (8) except to the extent permitted under by law, reverse engineer, decompile, disassemble, or access the source code of the Site.

Nothing in the Site is designed to grant any license or right to use any image, trademark or logo. No act of downloading or otherwise copying from the Site will transfer any legal entitlement to any software or material on the Site to you. BNP Paribas reserves all intellectual property rights (such as copyright and trademark rights) to all material on the Site, and will enforce such rights to the full extent of applicable law.

No Advice, Offers or Solicitations. The information and materials in this Site should not be construed as to provide tax, legal or investment advice. In addition, the information and materials herein shall not constitute an offer or solicitation, or an offer to sell, shares of any financial instrument or any advisory or management service in any jurisdiction. Certain investments may only be made to investors who meet certain eligibility requirements. The type of securities mentioned may not be suitable for everyone. USERS ARE URGED TO BASE THEIR INVESTMENT DECISIONS UPON A THOROUGH INVESTIGATION AND TO OBTAIN ALL NECESSARY PROFESSIONAL, LEGAL AND FINANCIAL ADVICE.

Passwords and Security. Access to any password-protected portion of the Site requires that a user obtain a username and password from BNP Paribas. In consideration of being granted a username and password and permitted access to certain portions of the Site, you hereby acknowledge having read and understood this Legal Notice and agree to be bound thereby. Subsequent use of any username and password issued by BNP Paribas shall be deemed to constitute full acceptance and understanding of the terms and conditions in this Legal Notice. Any use of or action taken under your password on the Site and maintaining the confidentiality and security of your password is your sole responsibility. In addition, full responsibility for all activity conducted through your account is your sole responsibility, and you hereby release BNP Paribas from any and all liability concerning such activity. You must immediately notify BNP Paribas of any actual or suspected loss, theft or unauthorized use of a user's username or password. BNP Paribas has no obligation to inquire as to the authority or propriety of any use of or action taken under your password and will not be responsible for any loss to you arising from any such use or action or from your failure to comply with the above.

Please note that when using any Internet facility (such as this Site), data is transported over an open network that is accessible to third parties and may not be secure and there is a risk that information may be corrupted or interrupted during transmission or that any encryption technology may not provide complete protection. Data is also regularly transmitted across international borders. This also applies to data transfers where both the sender and recipient are located in the same country.

Investigation and Disclosure of Information. BNP Paribas has the right, but not the obligation, to monitor any activity and material associated with the Site. BNP Paribas may investigate any complaint or reported violation of its policies and take any action that it deems appropriate. Such action may include, but is not limited to, issuing warnings, suspending or terminating your use of all or any portion of the Site and denying you access to all or any portion of the Site. BNP Paribas also reserves the right to report any activity that it suspects may violate any law or regulation to appropriate law enforcement officials, regulators, or other persons or entities. In order to cooperate with governmental requests, to protect BNP Paribas' systems and other users, to ensure the integrity and operation of the Site, business or systems, or otherwise to comply with the law and legal process, BNP Paribas may access and disclose any information it considers necessary or appropriate.

Past Performance. Past performance is no indication of future performance, and nothing on this Site should be interpreted to state or imply otherwise. The value of investments may fall as well as rise and investors may not get back the full amount invested. Changes in equity prices, interest rates, commodity process, foreign exchange, volatility, and other asset classes may cause the value of investments to go up or down.

Third Party Links. The Site may contain hyperlinks (or "links") to Internet websites of third persons and entities. BNP Paribas may provide such links solely as a convenience to its users, and may have no control over the content on such third party website. BNP Paribas does not maintain and is not responsible or liable for any off-Site web pages accessible from or linked to the Site or any products, services or information contained, offered or promoted therein. Use of links to any third person via the Site is at your own sole risk. No warranties, either express or implied, concerning the content of such site are made, including the accuracy, completeness, reliability or suitability thereof for any particular purpose, nor does BNP Paribas warrant that such website or content is free from any claims of copyright, trademark or other infringement of the rights of third parties or that such site or content is devoid of viruses or other contamination. No guarantee as to the authenticity of documents on the Internet is given. Links to off-Site web pages do not necessarily constitute sponsorship or affiliation of, with or by BNP Paribas and should not be construed as such. All opinions, recommendations, views, news, information and other content contained in any third person sites are solely those of the third persons, and BNP Paribas disclaims all responsibility and liability for such content.

Risks in Relying on the Information and Materials Contained in the Site. BNP Paribas makes reasonable efforts to provide accurate information on the Site. BNP Paribas may change all or any portion of the Site at any time without notice to you. There may be delays, omissions or inaccuracies in the information. BNP Paribas does not endorse the opinions of, or warrant the accuracy of facts or other information or materials contributed by, any third party. BNP Paribas has no obligation or responsibility to review, investigate, undertake, update or amend any such information. The information contained in this Site is as of the dates expressly stated herein, and no implication is being made that there has been no change in such information subsequent to such dates.

Cookies. Users are informed that when visits are made to this Site, a cookie may be installed automatically and retained temporarily in the user's memory or on their hard disk. Cookies do not make it possible to identify users, rather they record information about the user's use of the Site. Users acknowledge that they have been informed of this practice and authorise BNP Paribas to use it. Users may deactivate the cookie using the settings in their navigation software.

No Liability for Technological Problems. All or any portion of the Site may not be available and may not function properly at any time. BNP Paribas makes reasonable efforts to avoid technological problems, but at any time the Site may have and may cause technological problems such as viruses and other damaging computer programming routines or engines.

Disclaimer of Warranties. THE SITE AND ALL INFORMATION AVAILABLE ON OR VIA THE SITE ARE PROVIDED "AS IS" AND "AS AVAILABLE," WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION: (1) ANY WARRANTIES CONCERNING THE AVAILABILITY, RELIABILITY, ACCURACY, COMPLETENESS, TIMELINESS OR SEQUENCING OF THE SITE OR THE CONTENT, PRODUCTS OR SERVICES AVAILABLE ON OR VIA THE SITE; (2) ANY WARRANTIES OF TITLE OR EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF INTELLECTUAL PROPERTY AND PROPRIETARY RIGHTS; (3) THE RESULTS TO BE OBTAINED BY ANY USER OF THE SITE; AND (4) ANY THIRD PARTY CONTENT ACCESSIBLE ON OR THROUGH THE SITE. BNP PARIBAS DOES NOT WARRANT THAT THE SITE OR ANY CONTENT WILL BE UNINTERRUPTED OR ERROR FREE, THAT DEFECTS WILL BE CORRECTED OR THAT THE SERVERS FROM WHICH IT IS AVAILABLE WILL BE FREE OF VIRUSES, TROJAN HORSES, WORMS, SOFTWARE BOMBS OR SIMILAR ITEMS OR PROCESSES OR OTHER HARMFUL COMPONENTS

ANY EXPRESSIONS OF OPINION, ESTIMATES AND PROJECTIONS ON THE SITE ARE THOSE OF THE AUTHORS AT THE DATE OF WRITING. THEY DO NOT NECESSARILY REFLECT THE VIEW OF BNP PARIBAS AND ARE SUBJECT TO CHANGE AT ANY TIME WITHOUT PRIOR WARNING. BNP PARIBAS AND ITS CONTRACTUAL PARTNERS MAY DISCONTINUE, OR MAKE CHANGES IN, THE INFORMATION, DATA AND DOCUMENTS, AND THE PRODUCTS OR SERVICES DESCRIBED HEREIN, AT ANY TIME WITHOUT PRIOR NOTICE. ANY INFORMATION MARKED WITH A DATE IS PUBLISHED AS OF THIS DATE ONLY AND NO OBLIGATION OR RESPONSIBILITY IS UNDERTAKEN TO UPDATE OR AMEND ANY SUCH INFORMATION.

Limitation of Liability. IN NO EVENT SHALL BNP PARIBAS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF DATA, BUSINESS OR PROFITS) ARISING OUT OF OR IN CONNECTION WITH THIS LEGAL NOTICE, THE SITE, THE INABILITY TO USE THE SITE OR ANY PRODUCTS, SERVICES OR CONTENT PURCHASED, OBTAINED OR STORED IN OR FROM THE SITE, WHETHER BASED ON CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE, EVEN IF BNP PARIBAS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND NOTWITHSTANDING THE FAILURE OF THE ESSENTIAL PURPOSE OF ANY REMEDY. WITHOUT LIMITING THE FOREGOING PROVISIONS OF THIS PARAGRAPH, THESE LIMITATIONS ALSO APPLY TO ANY THIRD PARTY CLAIMS AGAINST USERS.

Indemnity. You agree to indemnify, defend and hold harmless BNP Paribas from and against any and all suits, losses, claims, demands, liabilities, damages, costs and expenses (including reasonable attorneys' fees) arising from or relating to: (a) your use of the Site; (b) your breach of any terms and conditions contained in this Legal Notice or any representation, warranty or covenant made by you herein; or (c) your violation of any applicable law, statute, ordinance, regulation or any third party's rights. This obligation survives the termination of this Legal Notice.

Modifications. BNP Paribas reserves the right to change the terms and conditions under which this Site is offered without further notice to you. Your continued use of this Site shall signify your agreement with and understanding of any additional or modified terms or conditions applicable to this Site, which additions and modifications can be made at any time, without notice.

Termination. This Site and access to it is revocable and can be terminated at any time, with or without notice, and for any reason in the sole discretion of BNP Paribas. Termination of your access to and use of the Site does not relieve you of any obligations arising or accruing prior to such termination or limit any liability that you otherwise may have to BNP Paribas.

Assignability. This Legal Notice will be binding on and will inure to the benefit of the legal representatives, successors and assigns of the parties hereto. BNP Paribas may assign the terms and conditions under this Legal Notice in whole or in part at any time without your consent. Your obligations contained in this Legal Notice shall not be assigned or delegated. Any purported assignment of the terms and conditions contained in this Legal Notice in violation of its terms shall be void.

No Waiver of Rights. No failure of either party to enforce any of its rights under this Legal Notice will act as a waiver of such rights.

No Waiver of Rights. No failure of either party to enforce any of its rights under this Legal Notice will act as a waiver of such rights.

Enforceability. If any portion of any provision of this Legal Notice is found invalid or unenforceable, that provision shall be enforced to the maximum extent possible and the remaining provisions of this Legal Notice shall remain in full force and effect.