Gerrard Investment Management Limited is authorised and regulated by The Financial Services Authority and is a member of the London Stock Exchange. Gerrard Investment Management Limited is a subsidiary of Barclays Bank plc.

Registered Office: Gerrard Investment Management Limited, 1 Churchill Place, London, E14 5HP. Registered in England, No. 2752982. VAT No GB 243 8522 62

The information in this website (the "Site") is not targeted at the residents of any particular country and is not intended for distribution to, or use by, any person in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.

Please note that Gerrard Investment Management Limited is independent for the purposes of giving investment advice.

The information on this Site is not intended as an offer to buy or sell securities. The facts stated and estimates and opinions given have been obtained from or based upon sources believed by us to be reliable; however no representation or warranty, express or implied, is made nor responsibility of any kind accepted by Gerrard, its directors or employees either as to the accuracy or completeness of any information stated herein, or that material facts have not been omitted. Visitors to the Site should be aware that prices may fall as well as rise and the income derived there from may fluctuate. Where an investment is denominated in a foreign currency, the rates of exchange may have an adverse effect on the sterling value, price or income of an investment. Past performance is not necessarily indicative of future performance and you may not get back the original amount invested. Investors are advised to seek independent financial advice, including the tax consequences of any proposed course of action, before dealing. Gerrard and its associate companies and/or their clients, directors and employees may own or have a position in the securities mentioned herein and may from time to time add to or dispose of any such securities. Please bear in mind that before publishing a research recommendation, we may have acted upon it or made use of information on which it is based.

This disclaimer covers all account and portfolio information.

The account and portfolio information shown is not the official record of your account or portfolio. It is provided for your convenience and for information purposes only. Such information shall not be deemed to supersede or replace contract notes, account statements or portfolio records.

Valuation of securities will be calculated for investments listed or dealt on The London Stock Exchange, at middle market prices obtained from a recognised price dissemination service or for other investments from available sources.

Clients whose stock is not held in nominees by Gerrard Investment Management Limited should periodically check the accuracy of the holdings shown on their portfolio records.

For the purposes of the United Kingdom's Financial Services & Markets Act 2000 this Site has been approved by Gerrard Investment Management Limited.