Disclaimer and Terms of Use

Due to legal restrictions, your use of the following website pages is subject to acceptance by you of the following terms:

The material on this web page and the web pages accessed through this web page (together, the "Website") is for distribution only to persons who are not members of the public in New Zealand in terms of the Securities Act 1978 (New Zealand) and, in all cases, in such circumstances as may be permitted by applicable law in any jurisdiction in which an investor may be located. In particular, but without limitation, the material on this Website is for distribution in New Zealand only to persons (A) whose principal business is the investment of money or who, in the course of and for the purposes of their business, habitually invest money within the meaning of section 3(2)(a)(ii) of the Securities Act 1978, or (B) in circumstances where there is no contravention of the Securities Act 1978, and excluding any person who is an "eligible person" (as defined in section 5(2CC) of the Securities Act 1978) unless that person also satisfies the criteria in paragraphs (A) or (B) above. Each person accessing this Website confirms that they are a person who is entitled to do so under all applicable laws, regulations and directives in all applicable jurisdictions.

The material on this Website is provided for information purposes only and does not constitute an offer, invitation, inducement, solicitation or recommendation to subscribe for, underwrite or purchase any security (including, without limitation, as any of those terms are defined or used in the US Securities Act of 1933, as amended, (the "US Securities Act") or the New Zealand Securities Act 1978 or the UK Financial Services and Markets Act 2000 or the Australian Corporations Act 2001). The Website shall not form the basis of any contract or commitment whatsoever. No sale of any securities described on this Website will occur in any jurisdiction in which such offer, invitation, inducement, solicitation, recommendation or sale would be unlawful.

Access to and use of the Website and the materials found on it (the "Material"), including the investment products referred to on (the "Investment Products") are subject to the terms set out in this Disclaimer and Terms of Use (the "Terms"). By clicking the confirmation at the bottom of these Terms, you signify that you have read, understood and accepted these Terms. ANZ Bank New Zealand Limited ("ANZ New Zealand") and any of its related bodies corporate (together, the "ANZ New Zealand Group") may update, revise, delete or modify information on this Website without notice. Material should only be considered current as of the time of initial publication of that Material on the Website or as otherwise stated on the Website without regard to the date on which you may access the Material.

Neither the ANZ New Zealand Group nor any of its directors, employees, agents or advisers warrants the fairness, accuracy, adequacy or completeness of any information contained in or referred to in the material on this Website. To the maximum extent permitted by law, neither the ANZ New Zealand Group nor its directors, employees, agents or advisers accepts any liability whatsoever for any loss (including, without limitation, any liability arising from any fault or negligence on the part of ANZ New Zealand Group or its respective directors, employees, agents or advisers) arising from the use of this material, access to material on the Website by any person not entitled to do so or otherwise arising in connection with the material on this Website.

This Website contains general information only and does not contain investment recommendations or advice nor does it purport to take into account any investors particular financial circumstances. The information is historical in nature and only current as of the date of the materials and is not to be relied upon as being accurate, complete or up to date. All information is subject to change without notice. ANZ New Zealand recommends that, before making any investment decision or otherwise acting upon information contained or referred to in this Website, investors should seek independent professional advice that takes into account their financial situation, investment objectives, particular needs and/or other personal circumstances. The information contained in this Website is not to be used for any purpose other than providing factual historical data and it is not to be construed as an indication or prediction of future results.

In Australia:
This Website is directed only to persons who are not "retail clients" within the meaning of section 761G of the Corporations Act 2001 of Australia and are also sophisticated investors, professional investors or other investors in respect of whom disclosure is not required under Part 6D.2 of the Corporations Act 2001 of Australia.

In the United Kingdom:
This Website is directed at persons in the United Kingdom who (i) have professional experience in matters relating to investments or (ii) are a high net worth entity falling within Article 49(2)(a) to (d) of the Financial Services and Markets Act (Financial Promotion) Order 2005 or a certified high net worth individual within Article 48 of the Financial Services and Markets Act (Financial Promotion) Order 2005. The information on this Website is available only to such persons and any related investment activities will be engaged in only with such persons. The information on this Website may not be published, copied or distributed to any other person. If you are a person of any other description, you should not act upon the material contained on this Website.

These Terms will be governed by, and construed in accordance with, New Zealand law. The New Zealand courts will have jurisdiction to settle any disputes which may arise in connection with these Terms.

User Agreement
By proceeding to access this Website, you represent, warrant and agree that:

(a) Either (1)you are not in the U.S or a U.S. person (as defined in Regulation S under the United States Securities Act of 1933) nor are you acting for the account or benefit of a U.S. person or (2) you are a "qualified institutional buyer" as that term is defined in Rule 144A under the US Securities Act;

(b) Your access to this Website does not violate applicable laws, including the laws of your home jurisdiction; and

(c) You have read, understood and accept the Disclaimer and Terms of Use set out above.

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