The information on this website has been prepared by Arbiter Fund Managers Limited (“Arbiter”) for persons who reasonably believe themselves to be appropriate investors, or to whom it may otherwise lawfully be issued or passed on to give preliminary information about the investment proposition described herein. It is a confidential communication to, and solely for the use of, the recipient. *

Its purpose is to give initial detail in order to gauge investor interest, so that Arbiter can decide whether to put a formal proposal to such investors. The information contained on this website is subject to updating, completion, modification and amendment.

This website does not constitute an offer to sell investments and may not be used to make such an offer. Therefore no person viewing this website may treat it as constituting an offer or invitation to him / her to buy investments, nor may he / she copy it for transmission to another person. If, however, an offer to sell investments is made in the future, it will be subject to information circulated by Arbiter at the time in a formal prospectus or equivalent document and not on the basis of the information contained on this website.

It is the responsibility of every person viewing this website to satisfy himself / herself as to the full observance of laws of any relevant country, including obtaining any government or other consent which may be required or observing any other formality which needs to be observed in that country.

The information on this website is written for the benefit of the category of person described in the first paragraph above. It is not addressed to any other person and may not be used by them for any purpose whatsoever. It expresses no views as to the suitability of the investments described herein to the individual circumstances of any recipient.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Trading on a margin basis means that any market movement will have a proportionate effect on your deposited funds and the high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk tolerance. The possibility exists that you could sustain a loss of some or all of your initial investment and for that reason should only be undertaken with risk capital. The definition of risk capital is funds that are not necessary to the survival or well being of the user and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and should seek advice from an independent advisor if you have any doubts or questions.

The information provided is only intended for distribution, or use by, any person in any country where such distribution or use would not be contrary to the local law or regulation, including, but not limited to, the United States of America. None of the products and services referred to in this website are available to persons residing in any country where the provision of such services or investments would be contrary to local law or regulation. In particular the information is not for distribution and under no circumstances is to be considered as an offer or solicitation to deal in investments in any jurisdiction in which such offer, solicitation or distribution would be unlawful, including, but not limited to, the United States of America.

Arbiter is Authorised and Regulated by the FSA in the UK.

* Investors should ensure that they are appropriately experienced to undertake high risk investments and if further clarification is required should seek advice from an independent advisor.