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Important Legal Information
Persons having access to information made available by Bordier & Cie on its Internet site accept the following rules:

Definitions
For the purposes of these Terms and Conditions, the following definitions apply:

No offer
The content of this internet site is purely informative, and is not aimed at promoting the services of Bordier & Cie. It is intended to widen awareness of the bank's reputation. No information appearing on this site shall be deemed as an offer for services or products, in particular bank products, from Bordier & Cie, nor as an offer or the solicitation for a purchase or sale of securities or of any other investment product. The bank does not offer any online services or benefits on this site. Nothing on this site shall be deemed as a public call nor selling, whatever its form, qualification or denomination nor shall it be construed as a proactive behaviour from Bordier & Cie towards third parties. Every contact with the bank from third parties must be considered as the latter's sole initiative.

No reliance and no warranty
While Bordier & Cie uses reasonable efforts to obtain information from sources which it believes to be reliable, Bordier & Cie makes no representation that the information or opinions contained on the Internet site are accurate, reliable or complete. The information and opinions contained in the Bordier & Cie Internet site are provided for personal use and informational purposes only and are subject to change without notice. Nothing contained on the Bordier & Cie Internet site constitutes investment, legal, tax or other advice nor is to be relied on in making an investment or other decision. Investors should be aware that the prices of securities may go down as well as up. For this reason favourable past performance is no guarantee of favourable future performance. In addition, investments in foreign currencies are subject to exchange rate fluctuations.

Restrictions Arising from Different National Laws and Regulations
Products and services described on this site which can not be accessed through the site may be subject to restrictions for some persons or in some countries. It is incumbent upon interested persons to take all appropriate steps to ensure that they do not solicit Bordier & Cie for products and services which, due to the laws of their native country, or of any other country they may be concerned with, may be forbidden or require special authorisation for such persons or for the bank. It is the responsibility of readers of this disclaimer to ascertain that access to this site is authorised from the country from which he/she is connecting.

In particular, the services provided by Bordier & Cie are not available in the United States or to persons resident in the US or persons who would otherwise be deemed US persons under the US securities laws.

Intellectual Property
The entire content of the Bordier & Cie Internet site is subject to copyright with all rights reserved. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link into or use for any public or commercial purpose the Bordier & Cie Internet site without the prior written permission of Bordier & Cie. You may, however, download or print pages and/or parts of the Bordier & Cie Internet site on paper, for strictly personal use, to the extent that you do not delete the mentions relating to copyrights or other mentions concerning intellectual property rights.

Protection of personal data - Confidentiality and integrity
Bordier & Cie cannot guarantee the confidentiality and integrity of information on the Internet. There is a risk that messages you send us by electronic means may be intercepted and/or modified as regards to both their content and origin. Bordier & Cie excludes all liability in this respect.

Access to the investment funds pages and local restriction
With reference to Switzerland, this website does not constitute an offer to sell or to buy units of any of the following funds: BO Fund II Europe, BO Fund II Global Balanced, BO Fund II Helveticus, BO Fund II Obligest EUR, BO Fund II Obligest CHF, BO Fund II Obligest USD, BIBT US Fund, Standard Sector, Greenlake Arbitrage, Haussmann Holdings and Permal European Holdings. These funds have not been approved by the Swiss Federal Banking Commission and therefore cannot be publicly offered in Switzerland.
You acknowledge that you are aware of the fact that the distribution to the public of the other investment funds presented on the investment funds pages is authorised only in Switzerland.
Consequently, in respect of any person or entity subject to any other jurisdiction than that of Switzerland, the investment funds pages do not constitute either an offer to sell or a solicitation to buy investment fund units.
In other words, the information published on the investment funds pages is addressed solely to persons resident and businesses domiciled in Switzerland. By accepting the terms and conditions relating to investment funds, you declare that you are resident or domiciled in Switzerland. If you are not resident or domiciled in Switzerland, you are not authorised to access the investment funds pages.
Depending on the domicile or nationality of a client, subscription to non-registered funds can be considered as illegal. The internaut is obliged to take advice on this subject and to react in consequence without engaging the responsibility of the bank. The investment funds pages are not addressed to U.S. Persons. By accepting these Terms and Conditions, you declare that you are not a U.S. Person. If you are a U.S. Person, you are not authorised to access the Investment Funds pages.

Hypertext Links and Viruses
You are expressly reminded that Bordier & Cie has no control or liability regarding the creation of links to other sites external to Bordier & Cie nor regarding the content of said sites. Therefore, you accept that your choice to access another site through a hypertext link is made under your own responsibility. You must take the necessary precautions to ensure that the site you have chosen does not contain any virus or any other destructive element.

Liability Waiver
Under no circumstances, including but not limited to negligence, shall Bordier & Cie be liable for any special or consequential damages that may result from the access to or use of, or the inability to access or to use, the materials at the Internet site.

Governing Law
Use of the Website shall be made subject to the laws of Switzerland, which shall exclusively govern the interpretation, application and effect of all the above conditions of use. The courts of Geneva shall have exclusive jurisdiction over all claims or disputes arising in relation to, out of or in connection with the Website and its use.