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NOTE: REQUESTING OR VIEWING INFORMATION ON SG RESEARCH WEB SITE IS DEEMED TO BE AN ACCEPTANCE OF THE SITE'S USAGE AGREEMENT.

I agree that the Login Identification and Password provided to me by SG to access SG Research Website ("the Site") are for my own use only, and that I will not provide or make known my Login Identification and/or Password nor grant access to the Site to any other person. In addition, I will not distribute, reproduce, or transfer reports or information obtained from the Site to anyone without the prior written consent of SG.

I understand that the information available on the Site is for informational purposes only, and should not be construed as an offer to buy or sell, or the solicitation of an offer to buy or sell, any security or provide investment services in any state, country, or jurisdiction where such an offer, solicitation or provision of services would be illegal. I also understand that the information contained on the Site is not a complete analysis of every material fact concerning any company, industry or security. Although opinions and estimates expressed herein reflect the current judgment of SG, the information upon which such opinions and estimates are based have been obtained from sources considered reliable but are not guaranteed. These reports contain forward-looking statements which involve risks and uncertainties and the actual results may differ significantly from the results described in the forward-looking statements. The information contained on the Site may not reflect events occurring after the date of publication. In addition, opinions and estimates are subject to change without notice. SG may perform corporate finance or other services for some companies described herein and SG may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the information herein.

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