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The contents of the Web Site have no regard to the specific investment objectives, financial situation or particular needs of any specific viewer. This Web Site is published for information purposes and is not to be construed as a solicitation or an offer to buy or sell any financial products/instruments. Unless specifically stated otherwise, all price information is indicative only. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the contents of the Web Site, nor are the contents a complete statement of the financial products/instruments, markets or developments referred to herein. The Web Site should not be regarded by recipients as a substitute for the exercise of their own judgment. Any opinions are subject to change without notice and may differ or be contrary to opinions expressed by other business areas or groups of PSL as a result of using different assumptions and criteria. PSL is not under any obligation to update or keep current the information contained herein.

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The financial products/instruments described herein may not be eligible for sale in all jurisdictions or to certain categories of investors. trading Contracts for Difference, Spread Bets or Foreign Exchange (ForEx or FX) investments and certain investments offered by PSL are not suitable for all investors, and these products are considered risky. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any products mentioned in the Materials. Clients wishing to effect transactions should contact a PSL Client Adviser.

RISK WARNING NOTICE Before trading Contracts for Difference, Spread Bets or Foreign Exchange (ForEx or FX), ensure you fully understand the risks involved. These products may not be suitable for all types of investor. Trading in Contracts for Difference / Spread bets / FX carries a high degree of risk and is generally considered suitable only for the more experienced investor. Leveraged products carry a high degree of risk for your capital, and in some circumstances you may be liable for a greater sum than your initial capital invested. Past performance is not necessarily a guide to future performance. Seek independent financial advice if necessary. These products are suitable only for people over the age of 18. Information and analysis produced does not constitute a recommendation or offer to make a transaction in any derivatives or securities, and is intended to be general in nature. Fully authorised and regulated by the Financial Services Authority. The past performance of any investment is not necessarily a guide to future performance. The value of shares or income from them may go down as well as up. The value of shares may rise as well as fall due to the volatility of world markets, economic conditions/data and/or changes in the rate of exchange in the currency in which the investments are denominated. You may not necessarily get back the amount you invested. If you are in any doubt about investment, you should seek independent financial advice.