No Prospectus, Offer, Invitation, or Recommendation
The information contained on this website does not constitute a prospectus in the meaning of the Swiss Federal Code of Obligations or the listing rules of the SWX Swiss Exchange, not an offer, not an invitation, and not a recommendation to sell, buy or to dispose otherwise of any investment product, or to do any other transaction. Further information on the product including offering materials can be obtained from BT&T Asset Management AG, Hardturmstrasse 11/Puls 5, 8005 Zurich, Switzerland.

Investment Suitability and Risks
Potential investors are advised to consult with their own financial, tax or legal advisors before making any investment decision. The investments discussed on this website may not be suitable for all investors. Investors must take their own investment decision based on their specific investment objectives and financial position and using their own advisors.

Some of the statements made on this website are forward-looking. Such statements are inherently subject to risks, uncertainties and other factors that may cause actual results, performance or business generations of BT&T Asset Management Ltd ("BT&T") or in relation to products described on this website to be materially different from those expected or anticipated in the forward-looking statements. Forward-looking statements are based on BT&T’s current expectations and assumptions, which may be affected by a number of factors. BT&T assumes no responsibility to update the forward-looking statements made on this website to reflect events or circumstances occurring after such statements were made.

Investors should be aware that investments in securities are volatile and may fluctuate in value. Therefore, no promise can be given that the value of any investment product is preserved or increases or that the set aims are reached. Results achieved in the past are no warranty for a certain development in the future; the asset value/price of a share and a possible profit on this share may rise or fall. An investment should only be done by persons which are financially able to afford losses.

Copyright
The content of this website is subject to copyright and other property protections of BT&T, its affiliates or third parties. All rights are reserved. Any other uses of the content of this website than web browsing and web printing for personal purposes requires the express written consent of BT&T.

Links, Third Party Content
Some links on this website may lead you to third party websites or other third party resources. Following such links is at your own risk. Such links shall not be viewed as advice or recommendation of any kind. BT&T has no influence on such websites and other resources, has not reviewed them and will not take any responsibility for its content or availability. This also applies to any third party information contained on this website.

No Warranty
The website and its content is provided on an "as is" and "as available" basis; it is used on your own risk. BT&T does not warrant the accuracy, timeliness, correctness, completeness, performance, merchantability, non-infringement or fitness (for any particular purpose) of the information on this website. BT&T cannot warrant this website or its content is free from viruses or other harmful components or instructions. All implied warranties are excluded as possible by law.

No Liability
To the extent not prohibited by law, BT&T shall not be liable for any damages of any kind without limitation, including direct, indirect and consequential damages and loss of profits, arising from the use or inability to use the website or its content or from any content on this website or action taken or not taken as a result of using this website or its content.

Choice of Law & Jurisdiction
Any issue arising in connection with this website shall be governed by the laws of Switzerland and exclusively adjudicated by the courts of Zurich.

BT&T Asset Management AG, Hardturmstrasse 11/Puls 5, 8005 Zurich, Switzerland
15 December 2003