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Disclaimer

GENERAL DISCLAIMERS

Copyright SG Securities (HK) Limited, 2013

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 internet site is intended for the private information of residents of Hong Kong only. It may be illegal to download any information from this internet site in other countries. SG Securities (HK) Limited, members of the Societe Generale group companies and their affiliates (the “SG Group”) disclaim all responsibility if you download any information from this internet site in breach of any law of the country in which you are residing. Information on this internet site must not be relied, or acted, upon by persons residing outside Hong Kong. By entering this internet site, you confirm that you are a resident of Hong Kong and agree to be bound by the following disclaimer.

Members of the SG Group, their affiliates, 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 and their affiliates may also make markets in the securities or derivatives of 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 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 therefore it should not be relied upon. The SG Group 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 Opinions, estimates and other information contained herein may be changed or withdrawn without prior notice.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 content of this internet site is not intended to provide any investment advice in relation to the buying and selling of securities referred to on this internet site, any financial, legal, accounting or tax advice to any user and should not be relied upon in that regard. Any indicative price quotations, disclosure materials or analyses have been prepared on assumptions and parameters that reflect good faith determinations by us and do not constitute advice by us. The assumptions and parameters used are not the only ones that might reasonably have been selected and therefore no guarantee is given as to the accuracy, completeness, or reasonableness of any such quotations, disclosure or analyses. We do not represent or warrant that any indicative performance or return will be achieved in the future. Past performance is not a guarantee or prediction of future performance. While the information on this internet site is provided in good faith and derived from sources believed to be reliable, we do not represent or warrant the completeness, reliability, accuracy, timeliness or fitness for any purpose of any of the material.

None of the members of the SG Group and their affiliates 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 purchase of the Structured Products 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 does not disclose all the risks and other significant aspects of the Structured Products. Investors should make their own appraisal of the suitability and risks of their investment and if necessary, consult their own legal, financial, tax, accounting and other professional advisors in this respect prior to any subscription or acquisition.

The Structured Products are non-collateralized. If the Issuer or the Guarantor is insolvent or defaults, investors may not recover part or all of the amount due. The price of the Structured Products referred to on this internet site may fall and rise, and under certain circumstances investors may sustain a total loss of their investment. Past performance is not indicative of future results. SG Securities (HK) Limited is the liquidity provider of the Structured Products referred to on this internet site. SG Securities (HK) Limited may be the only person quoting prices for the Structured Products on the Hong Kong Exchanges and Clearing Limited. As such, the secondary market for the Structured Product may be limited. Before investing in the Structured Products, investors should carefully study the details of the Structured Products set out in the listing documents, and if necessary, consult their legal, financial, tax, accounting and other professional advisors, to ensure that any decision made is suitable with regards to the investor's circumstance and financial position.

Callable bull/bear contracts ("CBBCs") have a mandatory call feature. CBBCs must be terminated when the spot price / spot level of the underlying asset reaches the call price / call level during the observation period. In which case, you will lose all of your investment in the CBBCs (for category N CBBCs) and the residual value of the CBBCs may be zero (for category R CBBCs).

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 internet 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 and logos.

LINKS

This internet site may contain links to other websites which are not operated by SG Securities (HK) Limited. These links have been provided solely for you to obtain further information about other relevant products and entities in the market. We have no control over the information referred to 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 internet 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 internet site.

By linking to sites not operated by us, SG Securities (HK) Limited is not authorizing the reproduction of any material on such sites, as such material may be the subject of third party intellectual property rights.

PRIVACY

Please read the Privacy Policy statement to understand how your personal information will be treated when you use this internet site.

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 do not undertake to update this internet site regularly but we may amend these terms and conditions at any time by posting the updated terms on this internet site. 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 internet site 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.