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I) Investor type description. A professional client is one of the following: 1. Entities that are required to be authorised or regulated to operate in the financial markets. The list below should be understood as including all authorised entities carrying out the characteristic activities of the

entities mentioned:
• entities authorised by a member state under a directive;
• entities authorised or regulated by a member state without reference to a directive;
• and entities authorised or regulated by a non-member state being:

a) credit institutions
b) investment firms
c) other authorised or regulated
financial institutions
d) insurance companies
e) collective investment schemesand management companies of such schemes
f) pension funds and management companies of such funds
g) commodity and commodity derivatives dealers
h) locals
i) other institutional investors

2. Large undertakings meeting two of the following size requirements on a company basis:
• balance sheet total:€ €20,000,000;
• net turnover: €€40,000,000;
• own funds: €2,000,000.

3. National and regional governments, public bodies that manage public debt, central banks, international and supranational institutions such as the World Bank, the International Monetary Fund, the European Central Bank, the European Investment Bank and other similar international organizations.

4. Other institutional investors whose main activity is to invest in financial instruments, including entities dedicated to the securitization of assets or other financing transactions.

Clients not falling within this list are, by default, retail clients.

II) No offer
ETFplus.net (“Website”) is an an independent resource for ETFs and ETCs investing. All content is produced independently of any advertising relationships. Nothing contained on this Website should be considered as an offer to purchase any of the products as described on this Website. Pricing levels and valuations published on the Website are indicative and they and other information displayed thereon are for information purposes only.

III) No investment advice
Information made available on the Website should not be considered as investment advice or any form of recommendation to purchase products described thereon. Nor the Website or the Company will be liable for any claims or losses of any nature, arising indirectly or directly from use of the information on or accessed through the Website.

IV) No warranties for contents
Although best efforts have been used to ensure that the information set out on the Website is reliable, no warranty is made as to its accuracy, completeness and adequacy. Any opinions expressed reflect the current view of ETF Consulting S.r.l. (“Company”), which may change without notice. V) Cookies
The Website may use cookies to collect and store information about your Internet connection when you visit our web site. Cookies are data elements that our website sends to your browser. In using cookies, we do not gather or store any personal information about you other than to the extent necessary to identify you, if you are a registered user. Cookies allow to better understand who is coming and returning to the Website and to measure the number of visitors to different parts of the Website. If you choose to disable cookies in your browser, you may not be able to access all of the website.
Advertisers and advertising vendors who serve ads onto the Website may use their own cookies or other tracking technologies. The Company can not be responsible for the privacy policies or practices of any such advertisers and vendors.

VI) Personal Information
The Website uses your personal information to service your account, to improve its services to you, to provide information to you and to inform you about additional products or services that may be of interest to you. Nor the Website or the Company will supply your personal information to third parties. We take every measure to protect our users' information. When users submit information via the web site or through our survey technologies, this information is protected both online and offline.

VII) Links
The Website contains links to other sites. Please be aware that The Company is not responsible for the privacy practices of such other sites.

© 2010 ETF CONSULTING. All rights reserved.

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Potete contattarci per offerte di collaborazione
o proposte commerciali, ai seguenti recapiti:

ETF Consulting S.r.l.
Via Vittor Pisani, 22
20124 Milano

T +39 02 6733 9156
F +39 02 6709 763
E mail redazione @ etfplus.net

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