Access to and use of the websites, services, and applications (collectively, the “Sites”) which are owned, operated, or provided through third-party websites by Bear Stearns Companies, its business units, subsidiaries, and affiliates, are provided pursuant to this Agreement. By accessing the Sites, you agree to be bound by the terms and conditions contained herein.

Please Note:  This Site are intended for general information, corporate communications, and investor relations purposes and for the use of external target groups of Bear Stearns Companies, including, without limitation, analysts, investors, students, researchers and journalists.

As used in this Agreement, “you” means (and “your” refers to) any user of the Sites.

• LIMITED LICENCE
  • Subject to this Agreement, you are granted a limited, personal, non-exclusive, non-transferable, revocable license to access, view, and use this Site, including a limited license to download, print, and store single copies of the content of the Site, for your personal use, provided that you maintain all copyright and other notices contained in such items and you do not (and do not allow any third-party to) copy, modify, create a derivative work of, reverse engineer, reverse assemble or otherwise attempt to discover any source code, in the Site. The content must not be reproduced, republished, or disseminated in any manner or form without our prior written consent or the prior written consent of the third parties from which such information was collected, as the case may be.
  • You are prohibited from modifying, copying, distributing, transmitting, displaying, publishing, selling, licensing, creating derivative works from, or for any content on the Site for any commercial or public purposes.
    
    
• DISCLAIMER AND LIMITATIONS OF CONTENT
  • Bear Stearns is not a licensed securities broker dealer, registered investment advisor, savings and loan, credit union, reseller of financial products, or bank and does not represent itself to be any such financial institution or service provider in any jurisdiction, but may be exempt in multiple jurisdictions where such license or registration is not necessary in its normal business conduct.
  • The content in this website is for informational purposes only. Nothing contained on the Sites constitutes or may be construed as legal, tax, investment, financial, insurance, or other advice. Nothing contained on this website constitutes a solicitation, recommendation, endorsement, or offer constitutes a solicitation, recommendation, endorsement, offer or invitation to make an offer to buy or sell, any securities, stocks, bonds, options, futures, derivatives, insurance policy, or other financial instrument by Bear Stearns Companies or any third-party service provider. 
  • The materials provided on this Site is not intended to provide personal investment advice to any potential investor and does not take into account the specific investment objectives, financial situation, and the particular needs of any particular investor. Investors should seek competent financial advice from a professional investment advisor regarding the appropriateness of the advisability of investing in any particular security or securities, investment strategies contained herein, as well as the potential risks associated with investing. Any statements regarding future prospects or past performances of a specific security is provided for reference purposes only, and investors are hereby made aware that such statements may not be realized in the future and their outcome may be different. Investors should note that income from securities or other investments, if any, may fluctuate and that price or value of such securities and investments can change drastically over time. Accordingly, investors may receive back less than originally invested or lose their investment entirely.
  • Any information contained on this Site which relates to the tax status of financial instruments is not intended to be and may not be construed as tax advice. Potential tax consequences for any particular financial instrument is highly specific to the particular investor as well as the jurisdiction in which such investor is located, and therefore investors are urged to seek independent tax advice from a tax professional in their jurisdiction for advice specific to their personal circumstances.
  • No information on this Site implies, nor may it be construed as, an endorsement or recommendation of any investment, financial instrument, or specific investment strategy. Investors must satisfy themselves as to the accuracy of information supplied and the applicability of such investment, financial instrument, or strategy for their personal situation. Bear Stearns Companies cannot be held liable for any losses suffered as a result of any inaccuracies in the information provided or as a result of investing in financial instruments whose details appear on this Site.
  • By using this Site, you hereby acknowledge that you are aware that:
    • Investing of any kind, including in stocks, bonds, exchange traded funds, mutual funds, or any other financial instrument involves substantial risk of loss, including the potential for loss of the entire capital invested. Further, the loss of principal is possible and happens with some frequency.
    • High-risk investments may use leverage, which, while increasing chances for gains, also increases chances for losses.
    • Investing in foreign jurisdictions involves special risks as a result of potential volatility in the political, economic, and currency climates in any given jurisdiction.
    • Borrowing on margin is a highly risky and speculative endeavor and those engaging in it must evaluate the potential risks involved for their particular circumstances. In particular, investors engaging in margin borrowing should have the ability to post margin in the event the value of a particular security or securities decreases substantially. As funding is based on valuation of securities at the time that funding is actually provided, Bear Stearns Companies may, at their sole discretion, provide funding in tranches. Further, due to potential changes in market conditions, funding is not guaranteed and any proposed terms contained on this Site are subject to change without notice.
    • This Site do not supply specific or detailed information concerning national or local insurance products, policies, or related services.

• BUSINESS UNITS, AFFILIATES, AND INDEPENDENT CONTRACTORS
  • The business units, affiliates, and independent contractors under Bear Stearns Companies operate with a high degree of autonomy, often under their own business names or similar identifiers. References to such business units, affiliates, and/or independent contractors and links to their respective websites are provided for convenience only. For additional information, you are advised to contact such entities directly.

• LINKING AND OTHER SITES
  • This Site may include links to other websites, solely as a convenience to you. Bear Stearns Companies does not endorse any such linked sites or the information, material, products, or services contained on or accessible through such linked sites. Furthermore, Bear Stearns Companies makes no express or implied warranties with regard to the information, material, products, or services that are contained on or accessible through such linked sites. 
  • Your access to and use of linked sites, including information, materials, products, and services on linked sites or available through linked sites, is solely at their own risk and may be governed by the terms of use of the linked site. You are cautioned to review the terms of use for each such link prior to accessing any information, materials, products, or services contained thereon.

• OWNERSHIP OF CONTENT
  • Subject to third-party rights, all materials displayed or otherwise accessible on the Sites, including, without limitation, text, photographs, images, illustrations, sound, graphics, icons, code (collectively, the "Content") and the selection and arrangement of the Content on this Site is protected by copyright, pursuant to applicable copyright laws. Bear Stearns Companies either owns the intellectual property rights, including copyright, or have acquired the necessary rights or licenses, in the Content. Portions of the Content may have been licensed to Bear Stearns Companies or published on this Site by third parties. Any reproduction, modification, publication, transmission, transfer, sale, distribution, display, or exploitation of the Sites or the Content, whether in whole or in part, without the express written permission of Bear Stearns Companies, is strictly prohibited. The display of the Content does not imply that you have been granted a license by Bear Stearns Companies or any other entity with respect to it.
  • Certain words, phrases, names, designs, or logos on the Site may constitute trademarks, service marks, or trade names that are owned by Bear Stearns Companies or other third-parties. The display of such marks on this Site does not grant a licence to you with respect to the use thereof without the expressed, written consent of the owner of such marks.

• NO WARRANTY
  • Access to this Site is provided "as is" and without warranties of any kind, either express or implied, by Bear Stearns Companies. By accessing and using the Site, you hereby acknowledge and agree that it is entirely at your own risk. 
  • Although Bear Stearns Companies have made reasonable efforts to ensure that the materials contained on this site are accurate, Bear Stearns Companies does not make or give any representation, warranty, or condition of any kind, whether express or implied, statutory or otherwise, including, without limitation, warranties as to uninterrupted or error free transactions, privacy, security, merchantability, quality, title, non-infringement, or fitness for a particular purpose, or those arising out of a course of dealing or usage of trade, or freedom from computer viruses or similar disabling devices.
  • Bear Stearns Companies hereby disclaims any responsibility or liability for the accuracy, completeness, correctness, timeliness, or usefulness of any third-party information contained on the Sites. 
  • Information on this Site may include references to products or services not offered or available through the internet in your particular jurisdiction. Such references in no way implies that Bear Stearns Companies will make such products or services available in your jurisdiction now or in the future and such services may never be available to you.

• LIMITATION OF LIABILITY, RELEASE, AND INDEMNITY
  • Bear Stearns Companies shall not be liable to any User for any damages, including consequential or special damages, arising directly or indirectly from: (a) any breach of this agreement, fundamental or otherwise; or (b) any of Bear Stearns Companies negligence, acts, or omissions; or (c) any provision, duty, or requirement of any statute; or (d) any duty at law or in equity.
  • By accessing this Site, you hereby release, remise, acquit, and discharge us from any claims, actions, demands, costs and expenses of any kind whatsoever, whether in contract, negligence, or tort, at law or in equity, or by statute or otherwise, howsoever caused, with respect to the use of the Sites by you or the operation of the Site by Bear Stearns Companies.
  • You hereby indemnify, save, and hold Bear Stearns Companies harmless from and against any claims, actions, demands, judgments, awards, declarations, orders, settlements, damages (including general, special, punitive, aggravated, or exemplary damages), liabilities, losses, costs, charges, interest, expenses, or proceedings of any kind whatsoever which may be initiated or presented by any other persons, individuals, or other legal entities, and which arise directly or indirectly from use of this site. Without limiting the generality of the foregoing, you hereby agree to pay all costs, fees, and expenses, including legal fees on a solicitor and own client basis, which may be incurred by Bear Stearns Companies in relation to your use of this Site.

• APPLICABLE LAWS AND REGULATIONS
  • The use of the Sites is subject to all applicable laws and regulations.
  • The Sites are controlled and operated by Bear Stearns Companies from outside the USA and are not intended to subject Bear Stearns Companies to the laws or jurisdiction thereof. Bear Stearns Companies does not represent or warrant that this Site or any part thereof are appropriate or available for use in the USA. Further, Bear Stearns Companies does not solicit nor accept as clients any American citizens or residents. By using the Sites, you affirm that you are not a resident or citizen of the USA.
  • In accessing the Site, you hereby covenant and agree that you are doing so by your own initiative and at your own risk, and that you shall do so in compliance with all laws and regulations applicable in your jurisdiction.
  • This Agreement is entered into in Belize and shall be governed and construed pursuant to the laws thereof. By using this Site, you hereby agree to submit to the exclusive jurisdiction of Belize and waive any and all objections to the jurisdiction of the courts of Belize regarding any action to enforce this Agreement.

• GENERAL
  • In the event that any one or more of the provisions contained herein should be invalid, illegal, or unenforceable in any respect, the validity, legality, and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby and any such invalid, illegal or unenforceable provision shall be deemed to be severable and such unenforceable provision shall be removed to the minimum extent necessary so that this Agreement shall otherwise remain in full force and effect.
  • This Agreement forms the entire agreement between you and Bear Stearns Companies and supersedes any prior agreement, whether written or oral.
  • Bear Stearns Companies may revise this Agreement at any time by posting notice of such modification on a page on this Site entitled “Legal Notices” or similar title before such modification takes place. Your continued use of this Site after such revisions are posted will signify your agreement to these revised terms.