Terms of Use

For definitions see the end of these Terms.

Your use in any way of the Service is subject to these Terms.

Your Requirements

You must:

• be aged 18 or over
• only use the Service for your personal use and not for any business purposes
• only have one active registration for the Service at any one time
• keep your password and any other security features secure and not allow others to use them or your registration
• ensure all information provided to us is accurate, honest and not misleading
• tell us of any changes to your registration details, in particular your email address
• act reasonably and honestly
• comply with all applicable laws and market regulations and any Documentation
• comply with these Terms (including privacy, use of chatrooms, use of Reuters Picture Screensavers and intellectual property rights)

We may, and Third Party Providers may, refuse or deny access to anyone, using reasonable discretion.

Our Requirements

We will use reasonable care in compiling the Service and will use reasonable endeavours to make the Service available to you.

Suitability of Service

You acknowledge that the Service does not aim to provide advice tailored to individual investors or your needs and that you can lose money on investments. The Service should never be used in isolation of your individual circumstances. You must consider your financial circumstances, risk tolerance, liquidity needs and investment objectives. The Service does not replace the advice of an authorised investment professional or independent financial adviser.

Content in the Service is not appropriate for the purposes of making a decision to carry out a transaction or trade. You should check all information and prices with your broker immediately prior to carrying out any trade.

No investment advice

No Reuters content on the Service is:

• providing investment, tax or legal advice and no Reuters content in the Service amounts to investment advice under Financial Services laws.
• recommending any financial instrument, investment or product, including those discussed on the Service.

No Reuters content on the Service should be used or regarded as an offer or solicitation of an offer from us to buy or sell securities.

You acknowledge that neither Reuters, nor Reuters staff will give investment advice as part of the Service and that you must not ask them to do so.

Reuters.com does not provide investment advice nor recommendations to buy or sell securities. Any correspondence offering trading advice should be treated as false and reported through the feedback link at the bottom of this page.

Liability

The information provided in the Service is solely for your personal, non-trading use. You are expected to make your own investment decisions without undue reliance on it. For this, you should seek independent financial advice. It is not a real-time service.

What we are NOT liable for

We and our Third Party Providers are therefore NOT liable for the following in relation to your use of the Service:

• any indirect or consequential loss or loss of profits or revenue or investment
• loss of data
• any loss which is not reasonably foreseeable
• promotions, competitions, offers for goods, events promoted on the Service which are run by third parties such as advertisers or sponsors
• events beyond our/their reasonable control, including telecommunications or the Internet and computer viruses
• factual, technical or typographical errors or omissions, missing or unavailable or incomplete Content or the fact Content is not up to date
• downtime or delays in the Service or in provision of Content.

The law contains some other implied warranties such as "satisfactory quality" and "fitness for purpose" which we regard as inappropriate for an information service and therefore they do not apply, to the maximum extent permitted by law.

What we ARE liable for

We and our Third Party Providers ARE liable:

• for death or personal injury caused by our negligence
• for obligations under laws which we are not allowed to exclude, such as the Financial Services and Markets Act 2000.
• for fraudulent representations made by us or our agents
• to re-send you reports you have paid for but failed to receive

Maximum liability

Our maximum liability will be the amount of any fees paid by you in the year in which event causing the liability arose, or 5,000, whichever is higher.

Reasonableness and the law

You agree the above liability arrangement is reasonable given the nature and cost of the Service. If you wish to seek legal recourse you should do so only using English courts, law and regulators as this Service is provided by Reuters Limited, a UK company. This will not affect any of your mandatory rights.

Materials

The Materials:

• are prepared for experienced investors with a high degree of financial sophistication and knowledge
• contain the views of Contributors, not us. In particular, "buy", "sell" or "hold" statements regarding particular investments represent the Contributor's opinion regarding those investments and not a specific investment recommendation which you should rely on, irrespective of your personal circumstances. If you need investment advice you should consult an independent financial adviser.
• do not attempt to take into account all circumstances or estimates, whether economic, financial or competitive
• are not always updated to reflect changes in such circumstances or changes in opinion of a Contributor or the market
• contain notices and disclaimers inserted by Contributors. You should familiarise yourself with these notices/disclaimers and seek advice, if appropriate, from an authorised financial adviser

Reuters Picture Screensavers

Reuters grants you a non-exclusive, non-transferable, worldwide licence right to use the Picture Screensavers from Reuters.com, solely for your own personal and non- commercial use. This right can be withdrawn at any time (without Reuters paying you any penalty or compensation) immediately on notice to you or by notice or clear indication on www.reuters.com. Reuters can at its own choice cease providing the Reuters Picture Screensavers.

The Reuters Picture Screensavers will be available on your operating system from the date of installation for a period of one (1) month.

The software and content are being made available free of charge unless and until provided otherwise. You agree that neither Reuters, nor third parties, should be liable for the performance or availability or problems with the software or content. Reuters does not warrant that the software will work on all operating systems.

Reuters does not warrant that the software does not infringe any third partys intellectual property rights. It is quite possible that you might have to stop using the software on short notice.

You agree that you are not a national or resident of Cuba, Iraq, Iran, Libya, North Korea, Syria or Sudan or other countries against which the UK, the US and the UN have trade sanctions and you will not allow the Reuters Picture Screensavers to be exported to or used by residents or nationals of these countries. Residents or nationals of these countries may not download or use the Reuters Picture Screensavers.

Ownership of Reuters Picture Screensavers

Ownership of, title to and all related intellectual property rights in the software remain with Macromedia and ScreenTime for Flash and ownership of, title to and all intellectual property rights, including but not limited to copyright, in the content remain with Reuters or its licensors. Macromedia and ScreenTime for Flash may directly enforce any of these terms against you, provided that Reuters agrees to them doing so. The animation for the Reuters Picture Screensavers is made possible by using Macromedia Flash. Macromedia Flash technology enables the Reuters Picture Screensavers to be played. Macromedia and HomeSite are trademarks or registered trademarks of Macromedia, Inc. in the United States and/or other countries. ScreenTime and the ScreenTime logo are trademarks of ScreenTime Media. Copyright 1997 - 2002 ScreenTime Media. All rights reserved. If you have any complaints about the software or the pictures, please contact jassim.ahmad@reuters.com.

Prints

Reuters has entered into arrangements with providers of printing services to enable you to purchase re-prints of certain of the Reuters Pictures. Please note that you will not be able to purchase prints of all Reuters Pictures as only a limited selection is available. When you purchase Prints, you agree that all intellectual property rights in the Prints and the Pictures including trade marks are and shall remain the property of Reuters and/or Third Party Providers and you shall not acquire any rights in them. You may only use Prints for your own personal, non-commercial use. You will not copy, distribute or otherwise exploit the Prints. In addition, you will not remove any trademarks except to the extent that you have mandatory rights in law to do so.

Content and form of the Service

We may make changes to the Content and form of the Service but we shall not fundamentally change its nature. If removal of Content is materially to your disadvantage, you can end the Service, without penalty by sending us a notice.

Intellectual Property Rights and Use of Content

You agree that all intellectual property rights in the Service and the Content, including trademarks, are and shall remain the property of us and/or Third Party Providers and you shall not acquire any rights in them.

You may only use Content for your own personal use. You may not store or archive Content, except on a temporary basis so that you can read it. You will not otherwise remove or alter any Content on the Service and you may not forward, distribute, copy or otherwise exploit the Content or Service without our prior written consent. In addition, you agree not to decompile, reverse engineer or modify the Reuters Picture Screensavers or to remove any trademarks or file names, except to the extent you have mandatory rights in law to do so.

In particular, you may not copy or paste Content (including Reuters news or pictures) into other web sites.

Data Protection/Privacy

You agree that your details will be used as set out in the data protection/privacy notice and because we are part of an international group, data will be transferred to countries outside the EU which do not have privacy laws or laws which provide information equivalent to the EU Data Protection laws.

You must obtain their prior permission before you use anyone else's details from or in connection with the Service.

Third Party Rights

You acknowledge that Third Party Providers may have rights in the Content or Materials and that they and our Group companies may enforce and enjoy protection of these Terms in accordance with the Contracts (Rights of Third Parties) Act 1999. We can, however, change these Terms without asking such Third Parties. Apart from such persons, no one shall have the right to enforce any of these Terms.

Hyperlinks

The Service contains links to and collaborates with third party Web sites and Internet resources. This is done for your convenience. This does not mean that we endorse or approve such sites on their Content. These third party sites are not under our control and we shall not be liable for your reliance on their content.

End of Terms/Service

We may suspend or end your use of this Service by giving you notice, which will be appropriate to the circumstances. An example might be if you breach the law, security, intellectual property rights or chatroom guidance rules for example.

You may end your registration by contacting us.

On termination of the Service, your rights to use it and any Content end.

Changes to Terms of Use

We may change these Terms on reasonable notice to you. This will be done by posting a notice on the Service and material changes will also be sent to you by email. If the changes are detrimental to you, you may end the Service by giving notice to us.

Definitions

Content: any information, images or graphics in the Service, including Materials, Reuters Pictures, Prints and Reuters Picture Screensavers

Contributors: those persons and entities providing information to the Service

Materials: analyst research reports and morning notes and any other materials provided

Print: a re-print of any Reuters Picture

Reuters Picture: any image displayed on the Service

Service: www.reuters.com and uk.reuters.com web sites.

Terms: these terms and conditions for use of the Service

Third Party Providers: third party companies and suppliers of Content including Contributors

We: Reuters Limited (company number 145516) of 85 Fleet Street, London EC4P 4AJ