Nordea Markets Disclaimer

Nordea Markets is the name of the Markets departments of Nordea Bank Norge ASA, Nordea Bank AB (publ), Nordea Bank Finland Plc and Nordea Bank Danmark A/S.

Copyright Nordea Markets, 2004. Not approved for publication in the United States. Nordea Markets is part of the Nordea Group. This document has been issued for the information of Nordea Markets Non-Private Customers

and Market Counterparties only, it is not intended for and must not be distributed to Private Customers. This document may not be reproduced, distributed or published for any purpose without the prior written permission of

Nordea Markets. Nordea Group and any person connected with them may provide investment banking services to an issuer of any of the securities or any other company mentioned in this document either directly or indirectly

and may have done so during the twelve months prior to publication of this document. Nordea Group and persons connected with it may from time to time have long or short positions in the securities mentioned in this

document and as agent or market maker, may buy, sell or hold such securities. All the information and opinions contained in this document have been prepared or arrived at from publicly available sources which are believed to

be reliable and given in good faith. We do not represent that such information is accurate or complete and it should not be relied upon as such, nor is it a substitute for the judgment of the recipient. All opinions and estimates

contained herein constitute Nordea Markets' judgment as of the date of this document and are subject to change without notice. The information in this document is not, and should not be construed as an offer to sell or

solicitation of an offer to buy any securities, options or futures contracts. Nordea Markets does not accept any liability whatsoever for any direct, indirect or consequential loss arising from any use of information in this document.

Nordea Bank Finland Plc, London Branch, is regulated for the conduct of investment business in the U.K. by the Securities and Futures Authority and is a member of the London Stock Exchange and as regards the activities of

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Services Act 1986 or regulations implemented pursuant thereto.

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