DISCLAIMER

Disclaimer.

The information provided here is general in character and is not specific to any investor’s needs, financial circumstances or risk tolerance. This general information is however directed towards investors who have substantial experience in investing in volatile securities markets and who appreciate and tolerate the high level of risk and volatility inherent in investing in market priced financial products.

Markets often move in unexpected and unpredictable ways at times that cannot reasonably be anticipated. Investors can lose money investing in securities. The views expressed here are speculative and are often time sensitive. Before investing in securities investors should consult with a licensed securities adviser to whom they should fully disclose all their relevant financial needs and circumstances, investment objectives and tolerance for risk.

Under The Southern Cross has made every effort to ensure the reliability of the views and recommendations expressed in the reports published on its websites. Under The Southern Cross research is based upon information known to us or which was obtained from sources which we believed to be reliable and accurate at time of publication. Given the inherent risks in investing in markets our recommendations may not always prove to be correct.

This report is prepared for general information only, and as such, the specific needs, investment objectives or financial situation of any particular user have not been taken into consideration. Individuals should therefore discuss, with their financial planner or advisor, the merits of each recommendation for their own specific circumstances and realise that not all investments will be appropriate for all subscribers.

To the extent permitted by law, Under The Southern Cross and its employees, agents and authorised representatives exclude all liability for any loss or damage (including indirect, special or consequential loss or damage) arising from the use of, or reliance on, any information within the report whether or not caused by any negligent act or omission. If the law prohibits the exclusion of such liability, Under The Southern Cross hereby limits its liability, to the extent permitted by law, to the resupply of the said information or the cost of the said resupply.

Southern Cross Equities and its associates, have minority ownership interests in The Financial Arena Pty Ltd, the company which operates and hosts the website on which Under The Southern Cross is published under an agreement with Southern Cross Equities.

Disclousure Of Interests.

Southern Cross Equities and/or its associates within the meaning of Chapter 7 of the Corporations Law:

• hold securities in many of the entities discussed and commented on in this newsletter.

• may buy and sell securities in the entities that are discussed and commented on in this newsletter before and after publication.

• receive commission from clients for dealing in securities in the entities that are discussed and commented on in this newsletter and its authorised representatives may directly share in that commission.

• may receive fees, commissions and payments including underwriting and placement fees from some of the enitities issuing new securities that are discussed and commented on in this newsletter.

• may receive corporate advisory fees, payments and commissions from entities or parties related to the entities that are discussed and commented on in this newsletter.

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