Please read these important notices which are for your and our protection. Once you have read and agreed with them you may continue.

The information contained in the Ansbacher Banking Group website (“the website”) is issued and approved by Ansbacher & Co Limited (a United Kingdom incorporated company) solely for the purposes of Section 21 of the United Kingdom's Financial Services and Markets Act 2000. Ansbacher & Co Limited is authorised and regulated by the Financial Services Authority in the United Kingdom.

The information available in the website is for information purposes only. Access to the website is governed by the terms and conditions and important notices which are set out below.

The governing law applying to the website and the use of the website is English law. If any dispute arises concerning the information on the website or the use of the website, the dispute will be heard by the English courts. You agree to allow such a dispute to be heard by the English courts.

The information provided in the website is provided in good faith, and whilst every care has been taken in the preparation of information contained in it, no responsibility is accepted for any errors which, despite all precautions, it may contain.

The information in the website may be updated or Ansbacher may decide to alter either the information in the website or the structure of the website at any time without giving warning. Opinions or estimates reflect Ansbacher’s judgement at the date of the issuance of the information and such opinions and estimates are also subject to change without notice. This disclaimer, however, does not apply to the extent that it is inconsistent with the rules of the Financial Services Authority.

Information in the website also contains information about services which are subject to restrictions about persons who may receive such information. The information in the website is not directed at anyone in a particular jurisdiction who by virtue of being in that jurisdiction, would be prohibited from receiving or having such information made available to him/her/it. Accordingly, information in the website must not be circulated or copied to anyone where to do so may constitute an infringement of any local laws or regulations.

Neither the website, nor any of the information it contains, constitutes or will form the basis of a representation, a contract or a term of any contract. It is essential that before proceeding with any course of action, you take relevant professional advice, particularly professional advice on individual tax and/or estate planning or exchange control in your country of residence and/or domicile.

If you do not understand, or if you have any queries about, any of the information appearing in the website, please contact your professional advisor.

Information in the website and Ansbacher logos and trademarks (whether licensed or unlicensed) belong to Ansbacher and may not be copied, reproduced or transmitted without Ansbacher’s specific and prior written consent. In the event that such information, logos or trademarks are copied, reproduced or transmitted without Ansbacher’s specific prior written consent, remedies at law may be inadequate to protect Ansbacher. In such circumstances Ansbacher shall be entitled to seek and obtain injunctive relief, specific performance or other equitable relief (without having to prove actual damages).

There may be hyper links or automatic links from the website to other third party websites. Ansbacher accepts no responsibility for the content or the services or products or any matter offered by or through such websites. You are advised that you may lose protections offered in the website if you do rely upon information and services offered in other third party websites.

You are advised that the use of the Internet as a form of communication is not yet secure and information transmitted through the Internet as a communication medium may be intercepted and/or read by third parties. You should not, therefore, rely upon your communication on the Internet as a secure form of communication.

You are advised that not all services offered by Ansbacher are available from all the jurisdictions in which Ansbacher operates. Specifically, banking services are only available through Ansbacher’s licensed banks in London, The Bahamas and the Channel Islands and investment services are only available through the relevant Ansbacher Companies in London, The Bahamas and the Channel Islands, such investment services being limited to those which the relevant Ansbacher Company has appropriate regulatory approvals to offer.

You are advised to consult your own tax advisors on the possible tax consequences under the laws of your country of citizenship, residence or domicile of utilizing any of the services available from Ansbacher.

Ansbacher Companies are required to verify the identity of, and obtain certain information from, prospective clients with measures aimed at the prevention of money laundering. By way of example, you may be required to produce a copy of a passport or identification card duly certified by a public authority, such as a notary public, together with evidence of your address. Ansbacher services will not commence until such time as the Ansbacher Company has received and is satisfied with all the information and documentation required to verify your identity.

Telephone calls with any Ansbacher Company may be recorded and monitored.

Important notices about Ansbacher

Ansbacher & Co Limited is duly authorised under the United Kingdom’s Financial Services and Markets Act 2000 to carry on deposit taking and investment business in the United Kingdom and had, at 31 December 2007, paid up share capital and reserves in excess of £53 million.

The Dubai branch of Ansbacher & Co Limited, which is located in the Dubai International Financial Centre, is regulated by the Dubai Financial Services Authority. The Doha branch of Ansbacher & Co Limited, which is located in the Qatar Financial Centre, is authorised by the Qatar Financial Centre Regulatory Authority.

Ansbacher (Bahamas) Limited is duly authorised under The Bahamas Banks and Trust Companies Regulation Act, 2000 to carry on banking and trust business in The Bahamas and had, at 31 December 2007, paid up share capital and reserves in excess of Bahamian dollars 13 million.

Ansbacher (Channel Islands) Limited had, at 31 December 2007, paid up share capital and reserves in excess of £12 million.

Ansbacher Channel Islands is a registered business name (registered in Jersey - Registered Number 19320) and is used by the Ansbacher Group of Companies in the Channel Islands. The Ansbacher Group of Companies in the Channel Islands is regulated by the Jersey Financial Services Commission in the conduct of banking, investment and trust company business, and licensed by the Guernsey Financial Services Commission to conduct banking, investment and fiduciary business.

Copies of the latest audited accounts of Ansbacher & Co Limited, Ansbacher (Bahamas) Limited and Ansbacher (Channel Islands) Limited are available on request.

QNB International Holdings Limited Sàrl, a company incorporated in Luxembourg, is the parent company of the Ansbacher Banking Group. The Ansbacher Banking Group comprises all the offices that are refered to on the Worldwide Offices page of the website. The ultimate parent of QNB International Holdings Limited Sàrl is Qatar National Bank S.A.Q., a company incorporated in Qatar and quoted on the Doha Stock Exchange.

Important notices about banking services of Ansbacher

All, or most of, the protections, in particular the protections afforded to private/retail customers, provided by the United Kingdom’s Financial Services and Markets Act 2000 do not apply to business conducted with non United Kingdom companies within the Ansbacher Banking Group, or to business conducted with non United Kingdom locations. Such business is also excluded from the United Kingdom's Financial Services Compensation Scheme.

Banks within the Ansbacher Banking Group are able to accept deposits in major currencies and have their principal places of business and registered offices in the United Kingdom, the Bahamas and the Channel Islands as set out on the Worldwide Offices page in the Contact Us section of the website.

Ansbacher & Co Limited is a member of the Financial Services Compensation Scheme established under the United Kingdom’s Financial Services and Markets Act 2000. Deposits with Ansbacher & Co Limited (plus accrued interest) are protected up to an amount of 100% of the first £35,000 (or currency equivalent) of a depositor—s total deposits. Most depositors, including individuals and small firms, are covered. Further details of the United Kingdom’s Financial Services Compensation Scheme are available on request.

If a customer wishes to make a complaint about a service provided by Ansbacher, the customer should contact the managing director of the relevant Ansbacher Company at the address as set out on the Worldwide Offices page in the Contact Us section of the website. A copy of the Ansbacher complaints procedure is available upon request.

Any complaints in relation to services provided by Ansbacher & Co Limited which are not satisfactorily resolved by Ansbacher & Co Limited can be directed to: The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR. The Financial Ombudsman Service is an independent service set up by law to resolve disputes between consumers and financial firms. All services provided by the Financial Ombudsman Service are free for consumers.

Ansbacher (Bahamas) Limited is incorporated in the Commonwealth of The Bahamas and is regulated in respect of its banking business by the Central Bank of The Bahamas. Deposits with Ansbacher (Bahamas) Limited do not fall within a deposit guarantee scheme. Transactions with Ansbacher (Bahamas) Limited do not fall within a dispute resolution scheme.

Ansbacher (Channel Islands) Limited is incorporated in Jersey. Deposits with Ansbacher (Channel Islands) Limited in either Jersey or Guernsey do not fall within a deposit guarantee scheme. Transactions with Ansbacher (Channel Islands) Limited do not fall within a dispute resolution scheme.

Only banking customers of Ansbacher (Channel Islands) Limited may access their accounts through Ansbacher Online, which can only be accessed via the website.

Ansbacher Online uses a high degree of encryption and other security measures. You are advised that the use of the Internet as a form of communication is not yet secure and information transmitted through the Internet as a communication medium may be intercepted and/or read by third parties. Ansbacher (Channel Islands) Limited’s standard terms and conditions contain provisions which explain certain security measures that customers who use Ansbacher Online are recommended to adopt when using Ansbacher Online.

Security will be requested for loans granted and this may comprise a mortgage over the debtor’s home.

YOU MAY LOSE YOUR HOME IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT.

FOR FOREIGN CURRENCY LOANS/MORTGAGES, THE BASE CURRENCY EQUIVALENT OF ANY LIABILITY UNDER A FOREIGN CURRENCY LOAN/MORTGAGE MAY BE INCREASED BY EXCHANGE RATE MOVEMENTS.

Important notices about the investment services of Ansbacher

Ansbacher Companies (other than Ansbacher & Co Limited) are not authorised persons under the United Kingdom’s Financial Services and Markets Act 2000, since they are not required to be. If your Ansbacher Company is not an authorised person, the protections provided to investors by United Kingdom law and regulations will not apply to financial services provided by them. In particular, compensation will not be available under the United Kingdom’s Financial Services Compensation Scheme in relation to any investment made, although equivalent protections may be provided by the rules on investor compensation that apply to the relevant Ansbacher Company.

The Investment Services that are offered by Ansbacher Companies are not available to persons who are resident in the United States of America. This website should not be regarded as a solicitation for business in either the United States of America, a Member State of the European Union (other than the United Kingdom) or any other country where local law prohibits the distribution or circulation of information concerning these Investment Services.

Risk warnings on investment business

• You are reminded that past performance of any investment is not a reliable indicator of future results.
• Fluctuations in the value of the underlying securities and the income from them and changes in interest and exchange rates mean that the value of an investment and any income arising from it may fall as well as rise and is not guaranteed.
• Deductions of charges and expenses mean that you may not get back the amount you invested.
• Fees charged by your Ansbacher Company and, where applicable, the underlying fund managers are not guaranteed to remain at current levels and may change in the future.
• The risks inherent in investments which are higher-risk investments are greater than for other investments. Such higher-risk investments may be subject to sudden and large falls in value. You could get back nothing at all. Higher risk investments include, but are not limited to, investments in smaller companies (even in developed markets), investments in emerging markets, investments in financial instruments whose value is based on other securities (i.e. derivatives), investments in single country debt and investments in high yield or non-investment grade debt
• There can be no assurance that the performance of any investment will achieve your stated objectives.
• If an investment fund within your portfolio suspends dealings, the investment may be difficult to realise and it may be difficult to obtain reliable information about the value of the investment or the extent of the risks to which your portfolio may be exposed. Whilst an investment fund may be listed on an exchange, you should be aware that this may not provide an effective trading market for such investment.
• If an investment fund within your portfolio is a non-daily dealing investment fund, the investment may be difficult to realise other than on one of the investment fund’s dealing days and it will not be possible to obtain reliable information about the value of the investment other than as at the valuation points associated with the investment fund’s dealing days.
• If an investment fund within your portfolio is an investment fund that is an unregulated collective investment scheme, the relevant investment fund may not be subject to the same regulatory regime, in some or in all respects, including any compensation arrangements, as is applicable to investment funds that are available to the general public in the United Kingdom. Certain unregulated collective investment schemes may permit a greater degree of leverage than is permitted with investment funds that are available to the general public in the United Kingdom. Accordingly, the underlying volatility of the investment fund will be significantly greater than would have been the case without the permitted leverage. Whilst this leverage (borrowed money) gives the investment fund the ability to participate in high returns associated with greater exposure, it also gives increased exposure to the risk of loss.

Any of Qatar National Bank S.A.Q., its companies, the Ansbacher Companies or the officers or employees of any such companies may own or have positions in any investments or any financial instruments related thereto.

Before making investments in collective investment schemes, investors should obtain and carefully read the relevant prospectuses, which contain additional information needed to evaluate the investment, and which provide important disclosures regarding risks, fees and expenses.

April 2008