The accompanying data, information and/or analysis (the "Information"), belongs to, and is the intellectual property of, ICAP and/or its respective licensors. The Information shall not be redistributed or disclosed in any form to any third party without ICAP's prior written consent.

The Information is not intended to be relied upon as authoritative or taken in substitution for the exercise of judgement. The Information is not, and should not be construed as, an offer, bid or solicitation in relation to any financial instrument. The Information is obtained from sources believed to be reliable and may also be based on opinions, estimates, projections and extrapolations constituting ICAP's judgement as at the time of its preparation and/or date of sending (which shall be subject to change without prior notice). However, ICAP cannot guarantee, and expressly disclaims any liability for, and makes no representations or warranties, whether express or implied, as to the Information's currency, accuracy, timeliness, completeness or fitness for any particular purpose. ICAP can accept no liability whatsoever for any loss (including, but not limited to any direct, indirect or consequential loss, whether or not such loss is foreseeable and whether or not ICAP has been appraised of the use to which the Information will be put) howsoever arising from the Information's use, the timeliness of its delivery or its failure to be delivered at all.

References in these Terms to 'ICAP' are references to ICAP plc and/or its relevant subsidiary or subsidiaries.

Certain companies within the ICAP plc group are authorized and regulated by the FSA, NASD and/or other regulatory bodies.
Please visit www.icap.com for further information. Copyright ICAP plc 2004