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Muse China & Hong Kong - Important Disclosures and Disclaimers

This is the latest version and was last revised on 2 February 2006.

This web page should be read in conjunction with all issues of Muse.

Muse is a newspaper registered in the Hong Kong SAR. Muse is NOT investment advice and does not purport to be investment advice.

The information contained in and accompanying this newspaper is intended solely for the use of the intended recipient specifically named on the message. It should not be forwarded to any persons other than the intended recipient without the prior written authorization of this newspaper. It must not be relied upon by any other person for any purpose whatsoever. If you are not the intended recipient of this communication, please delete and destroy all copies (including any attachments) that you have and notify us that you have received this message in error.

This newspaper has been prepared for information purposes only, is not and does not constitute investment advice and is not a solicitation, or an offer, to buy or sell, or otherwise to transact in any security or to purchase any investment products and services. We are not soliciting any action based on this material. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this newspaper.

This newspaper does not purport to be a complete description of the securities, markets or developments referred to in the newspaper. The information on which the newspaper is based has been obtained from sources which we reasonably believe to be reliable, or purports to be reliable unless we specify otherwise, but we have not independently verified such information and we do not guarantee that it is accurate, correct or complete, and such information should not be relied upon as such. We do not guarantee that any translations of any information or statements is accurate, correct, complete, or is free of errors, mistranslations, misquotations or misinterpretations.

All expressions of opinion are of our own, are current as of the date of this newspaper, and subject to change without notice.

All statistical data, calculations and derivations contained in this newspaper are updated from time to time and at our convenience but may be out of date and we do not make any warranties as to the accuracy, correctness and completeness of such data.

Broker forecasts: From time to time we include data regarding "broker forecasts". These figures represent forward earnings estimates as surveyed by Muse and/or by various agencies. These figures may be adjusted, modified or changed by Muse and/or by its reporters arbitrarily manually or automatically through various computer programmes or as we see fit, may be inaccurate or out of date and may be different from original figures published by various stock brokers.

Oratio Asia Limited, the publisher of Muse (hereafter, "our Company") and our connected companies and affiliates, and their respective directors, officers, employees, contractors or their associates and related persons (collectively, "Related Persons"), including, but not limited to the journalists, editors, sub-editors, translators, copywriters, typesetters, designers and assistants assigned to this newspaper or otherwise, may from time to time have a long or short position, or other interest, in the securities mentioned in this newspaper and may sell or buy or otherwise deal in such securities or any instruments linked to such securities.

Our company and the Related Persons may perform or seek to perform financial, professional or other services for companies, individuals or other entites or legal or natural persons or their affiliates, and their respective directors, officers, employees mentioned in this newspaper.

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