THESE TERMS AND CONDITIONS ARE TO BE READ IN CONJUNCTION WITH AND FORM PART OF THE PORTFOLIOCONSTRUCTION FORUM TERMS AND CONDITIONS OF USE PUBLISHED ON WWW.PORTFOLIOCONSTRUCTION.COM.AU.

BY ACCESSING THE FARRELLY'S INVESTMENT STRATEGY SERVICE ("FARRELLY'S SERVICE") ON THE SITE, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTAND AND AGREE TO BE BOUND BY THE PORTFOLIOCONSTRUCTION FORUM TERMS AND CONDITIONS OF USE AND THE FOLLOWING ADDITIONAL TERMS AND CONDITIONS:

1. Within 21 days of 1 March, 1 June, 1 September and 1 December, the farrelly's Service components will be updated and republished on the private farrelly's subscribers-only area on www.PortfolioConstruction.com.au and you will receive electronic notification of the same;

2. You agree to pay the farrelly's Service Subscription Fee. You hereby authorise the Publisher to charge your credit card each quarter following delivery of the farrelly's Service until such time as you provide notice in writing that you wish to terminate your subscription. Such notice must be received prior to the delivery of the next quarter's farrelly's Service;

3. You acknowledge that your subscription to the farrelly's Service allows for its use at one physical location ("Site") by up to five investment advisers and their support staff (together "Users") unless otherwise agreed in writing by the Publisher;

4. You agree to use your best endeavours to prohibit any unauthorised use of your farrelly's Service subscription and, on becoming aware of any unauthorised use, notify the Publisher promptly and in writing;

5. You agree that where as a result of action or lack of action by you, the farrelly's Service is supplied to or obtained by persons without written authorisation by the Publisher, the Publisher shall be entitled to charge you (in addition to any other fees paid or payable by you) the Subscription Fee for each person to whom the farrelly's Service has been supplied or obtained whether for gain or sale or otherwise and you hereby agree to pay such Subscription Fee;

6. Wherever the farrelly's Service or any extract thereof is published, used, promoted or referred to by you, you agree to attribute the farrelly's Service in the form "source: farrelly's Investment Strategy";

7. The Publisher and Farrellys Research & Management Pty Ltd reserve the right to change the form and content of the farrelly's Service at any time without notice;

8. The Publisher and Farrellys Research & Management Pty Ltd will use their best endeavours to correct and advise you of any errors that are found to exist in the farrelly's Service as soon as reasonably practicable after being notified of any such error; and,

9. The Publisher and Farrellys Research & Management Pty Ltd will facilitate a Help Desk email support facility on issues relating to the farrelly's Service.