GENERAL DISCLAIMERS

Copyright SG Securities (HK) Limited, 2008

This internet site is produced by SG Securities (HK) Limited. The information on this internet site, its contents including indicative terms are provided for information purposes only and do not constitute an offer, a solicitation of an offer or invitation, advertisement, inducement, representation of any kind or form whatsoever or any advice or recommendation to buy or sell any securities referred to herein (whether on the indicative terms or otherwise).

The content of this site is intended only for the private information of persons residing in Hong Kong. It may be illegal to download such information in other countries and the SG Group disclaims all responsibility if you download any information from this site in breach of any law of the country in which you are residing. Information on this site must not be relied, or acted, upon by persons residing outside Hong Kong.

Members of the SG Group, their affiliates and their directors and employees may from time to time have a position (on a principal basis or otherwise) in the securities mentioned herein. Members of the SG Group, their affiliates may also make markets in the securities or derivatives to any company or issuer mentioned herein, or provide services to any company and affiliates of such companies whose securities are mentioned herein.

The information herein (including any expression of opinion or forecast) is provided in good faith and has been obtained and derived from sources believed to be reliable and accurate at the date indicated. However, we have not verified all the information and we do not represent that it is accurate or complete for your purpose and it should not be relied upon as such. We may not, and have no obligation to, update the information or correct any inaccuracy which subsequently becomes apparent. Opinions, estimates and other information contained herein may be changed or withdrawn without prior notice.

The price of the warrants/CBBCs referred to on this internet site may go down as well as up, and under certain circumstances an investor may sustain a total loss of his/her/its investment. Past performance is not indicative of future results. Also, for listed warrants/CBBCs, the issuer of the warrants/CBBCs may sometimes be the only person quoting prices on the relevant stock exchange. An investor should make an appraisal of the risks involved in investing in these products and should consult his/her/its own legal, financial, tax, accounting and other professional advisors, to ensure that any decision made is suitable with regards to that investor's circumstances and financial position.

None of the members of the SG Group and their affilates or the directors, officers, employees or agents, of those entities gives any representation or warranty as to the reliability, completeness, timeliness, accuracy or fitness for any purpose of the information contained herein, or any third party website linked to this website, nor does any of them accept any responsibility or liability for any loss or damage arising in any way (including by reason of negligence) out of errors or misstatements in, omissions from, or the reliance of any person on, the information.

Members of the SG Group and their affiliates assume no fiduciary or other responsibility or liability for any consequences, financial or otherwise, arising from the subscription of the instruments mentioned herein. Any investment recommendation made does not take account of the specific investment objectives and/or financial resources of particular investors. This internet site cannot disclose all the risks and other significant aspects of warrants/CBBCs. Investors should make his own appraisal of the suitability and risks of such an investment and should consult to the extent necessary their own legal, financial, tax, accounting and other professional advisors in this respect prior to any subscription or acquisition.

The price of the warrants/CBBCs referred to on this internet site may go down as well as up, and under certain circumstances an investor may sustain a total loss of his/her/its investment. Also, for listed warrants/CBBCs, the issuer of the warrants/CBBCs may sometimes be the only person quoting prices on the relevant stock exchange. An investor should make an appraisal of the risks involved in investing in these products and should consult his/her/its own legal, financial, tax, accounting and other professional advisors, to ensure that any decision made is suitable with regards to that investor's circumstances and financial position.

SG Securities (HK) Limited is the liquidity provider of SG issued warrants/CBBCs mentioned in this website.

COPYRIGHT AND TRADEMARKS

Except where expressly stated, copyright in the information contained in this internet site is owned by or licensed to SG Securities (HK) Limited. You may use the information for your own personal reference only and you may not reproduce any information in breach of the Copyright Ordinance. The information may not otherwise be reproduced and must not be distributed or transmitted to any other person or incorporated in any way into another document or other material.

The use of any trademarks and logos displayed on this site is strictly prohibited unless written permission for such use is obtained from SG Securities (HK) Limited and/or, where relevant, such third party, which may own the trademarks.

LINKS

This site may contain links to other web sites operated by entities which do not belong to members of the SG Group. These links have been provided solely for you to obtain further information about other relevant products and entities in the market. Members of the SG Group has no control over the information on these sites or the products or services on them, and therefore makes no representations and accepts no responsibility regarding the accuracy or suitability of the information, services or products described on them. You are advised to make your own enquiries in relation to third parties described or linked on this site. Inclusion of a link to a third party site should not be construed as an endorsement of such third party site by us or that party's endorsement of this site.

By linking to sites operated by third parties, members of the SG Group are not authorising the reproduction of any material on such sites, as such material may be the subject of third party intellectual property rights.

PRIVACY

Personal information collected from you

Any personal information supplied by you through this site will be kept strictly confidential, save as expressly provided herein, and will be used to provide you with the service you applied for and not used in ways that you have not consented to. If you visit our site to browse, read or download information, our system will log these movements. These web site logs are not personally identifiable, and we make no attempt to link them with the individuals who browse the site.

What are cookies and how do we use them?

A cookie is a small data file that contains information about your visit to a web site. This information is provided by your computer during your first visit to a web server. The server records this information in a text file and stores this file on your hard drive. When you visit the same web site again, the server looks for the cookie and structures itself based on the information provided. A cookie only identifies your computer to a web server when you visit the site, they do not identify users.

Most browsers are initially set up to accept cookies. You can reset your browser to refuse all cookies or to warn you before accepting cookies. If you have set your browser to warn you before accepting cookies, you will receive the warning message with each cookie. You can refuse cookies by turning them off in your browser. We generally use cookies to help us improve our service to you the next time you visit our site.

How your information is used

SG Securities (HK) Limited, members of the SG Group and their affiliates (collectively "SG" Group) are owners of the information collected on this site. By accessing this site, you are deemed to consent to our use of information collected from you for our own marketing purposes, planning, product development and research purposes.

We may also provide such information to third party service providers for the purposes of the SG Group's marketing, planning, product development and research. Save as herein provided, we will not disclose this information to any third party unless disclosure is required or authorised by law.

If you provide information in the "Contact Us" section, you may choose to be added to the SG mailing list. Once on this mailing list, you may receive (by regular mail or email) information about SG products, events and services which may interest you. By choosing to be added to the SG mailing list, you are deemed to consent to receiving joint offers which feature products/services from the SG Group and other reputable organizations and companies. Your information is not shared with these other companies.

The security of your personal information

SG Securities (HK) Limited intends to protect the quality and integrity of your personally identifiable information. We employ appropriate security methods and technologies to maintain information collected, prevent unauthorised access and ensure correct use of information.

Links to other sites

As our site contains links to other web sites, SG Securities (HK) Limited is not responsible for the privacy practices or the content of these web sites. While we strive to protect your personal information, SG Securities (HK) Limited cannot ensure the security of any information that you transmit to us over the Internet and you do so at your own risk. Once we receive your transmission, we do our best to ensure your information is secure on our systems.

How you can access your information

Under the Personal Data (Privacy) Ordinance (the "Ordinance"), you have the right to check whether we hold personal data about you, access to such data and require us to correct any personal data relating to you which may be inaccurate. You also have the right to ascertain our policies and practices in relation to personal data and to be informed of the kind of personal data held by us.

You can contact us to request access to, and correct, your information by writing to the Web Master at the following address:

Email address: hongkong@warrants.com

In accordance with the Ordinance, we have the right to charge a reasonable fee for the processing of any data access request.

Nothing herein shall limit your rights under the Ordinance.

RISKS RELATING TO THE USE OF THE INTERNET

Transactions over the internet may be subject to interruption, transmission blackout, delayed transmission due to internet traffic or incorrect data transmission due to the public nature of the internet. SG Securities (HK) Limited does not guarantee the security of any information transmitted over, through or via the internet.

AMENDMENTS AND UPDATES

We may amend these terms and conditions at any time by posting the updated terms on this website, although we do not undertake to update this site regularly. No other form of notification will be delivered to you.

LIMITATION OF LIABILITIES

In no event will any member of the SG Group be liable to any party for any direct, indirect, special or other consequential damages arising out of any use of this website even if we are expressly advised of the possibility or likelihood of such damages.

CHOICE OF LAW AND JURISDICTION

These terms and conditions are governed by the Laws of the Hong Kong Special Administrative Region of the People's Republic of China without regard to principles of conflicts of laws. All disputes shall be adjudicated within the exclusive jurisdiction of the courts of Hong Kong.