Investor Services - Agreement

Agreement between DNB Bank ASA (in the agreement referred to as "DNB") and the client (in the agreement referred to as "Client") regarding Investor Account Services related to financial instruments, hereinafter referred to as the "Agreement".

1. Brief description of dnb.no

dnb.no is DNB's electronic channel for the Internet services offered by DNB at any given time.

2. Entry into agreement and terms of agreement. General business terms

The Agreement is entered into by signing the Agreement or by following the procedure shown on the Internet. The Client confirms the Agreement by logging on with a first-time password or with the previously established dnb.no password.

In order to access the service, proof of identity must be verified in accordance with prevailing laws and regulations and DNB's internal guidelines.

It is the responsibility of the Client to ensure that the Client's computer equipment, computer programs and network system at all times satisfy the requirements set by DNB.

The Client's account(s) in the Norwegian Euronext Securities Depository (in the Agreement referred to as VPS) is/are regulated by the "The VPS Account Management Agreement". In the event of conflict, the terms of the present Agreement prevail.

DNB Markets' general business terms shall apply at any given time to financial instruments etc. provided that the matter in question is not specially regulated in this agreement, including provisions on complaints, DNB's liability, default by Client, Client's responsibility for own competence etc.

3. Password and security solution

When using the services on dnb.no, the Client's signature consists of both a password and a security code. Where the correct password is used, it wil be assumed that it is the Client who has accessed each service at dnb.no.

4. Security rules

The Client is responsible for ensuring that unauthorised parties do not gain access to computer programs and/or information stored on the Client's computer.

In order to be able to use the service, the Client must have, at all times, satisfactory and virus-free computer equipment. The Client is under an obligation to ensure that installed security solutions, routers and/or firewalls on the Client's computer system do not block data to and from the service on dnb.no. In addition, reference is made to a separate chapter on security in the help file on dnb.no.

If the Client suspects that unauthorised parties have gained access to the password, or if there is a risk of misuse for other reasons, the Client shall notify DNB as soon as possible. Outside DNB's telephone opening hours, DNB Assistanse must be contacted. DNB will register the time the notification was received.

5. DNB's liability

DNB will only be liable for losses incurred by the Client due to negligent or wilful errors on the part of DNB. Liability will be limited to cover direct loss and will not comprise consequential loss.

DNB is not liable for losses arising from, for example:

• network errors or problems, shutdowns, communication errors, or problems suffered by the Client or partners used by the Client, or other conditions at the Client or the Client's partners,
• errors, problems etc. - including capacity problems - in the communications network conditions,
• errors, problems etc. - including capacity problems - or other occurrences of any kind entering DNB's network or in DNB's network.

DNB is not liable for losses due to incorrect use of the service by the Client. Neither is DNB liable for losses due to unauthorised persons gaining access to, or in any other way acquiring access code devices and/or passwords, or due to the Client, by other means, infringing security provisions and precautionary measures, cf. items 3 and 4 of the Agreement.

DNB is not liable for the correctness of the information published under DNB Investor Account Services, including holdings deposited in VPS accounts and holdings deposited in nominee accounts.

DNB may have entered into various agreements, including agreements with stock exchanges, agreements regarding distribution of information and agreements with VPS - including affiliation agreements with VPS and agreements on the use of VPS' subscription client. These agreements etc. will apply correspondingly between the Client and DNB, to the extent they apply. In particular, this will apply to liability provisions and clauses limiting liability for damages in the agreements.

6. Copyright

DNB has full copyright and right of ownership to all software and user instructions supplied by DNB. Such software and user instructions shall not be handed over to other persons, sold, copied or used in any other manner for purposes which are not approved by DNB.

7. Conditions governing the use of DNB Investor Account Services

7.1 Bank accounts

A bank account in DNB is not a condition under the agreement.

7.2 VPS accounts. Financial instruments registered in VPS

The Client must have an account in VPS with DNB as account manager. Under the agreement, the Client will also have access to his or her own VPS accounts administered by other account managers.

All financial instruments registered in VPS for which the Client is registered as owner will be comprised by the agreement. Thus, this will apply to, for example: shares, primary capital certificates, bonds, commercial paper and derivatives. Holdings in mutual funds registered in VPS and registered in the Client's account will be comprised by the Agreement.

8. Investor services on dnb.no

8.1 Contents - VPS

8.1.1 Holdings summary

A summary of the Client's holdings of financial instruments comprised by the Agreement is shown on the screen. If the Client is specified as the owner of accounts owned by an association, these association accounts will also be specified.

The figure in the column "Holdings" shows all VPS registered financial instruments owned by the Client, updated with all transactions settled up to and including the preceding banking day.

A value estimation of holdings based on the closing market price on the previous trading day or before if such information is available will also be shown. If no relevant market price information is available, "N/A" will be shown. Such value estimation will be available for financial instruments listed on Oslo Børs and for VPS registered securities. Market price information is available on a delayed basis and not in real time.

8.1.2 Transaction summary and transaction search

The display shows transactions registered during the last 24 months on VPS accounts for the financial instruments selected. The display also shows registered, unsettled purchases and sales that have been effected, but which are not yet shown as changes in holdings on the VPS account. All mutual fund holding transactions can be viewed (purchases (subscriptions), redemption, transfers stemming from inheritance, gifts etc.) also those dating more than two years back.

The Client can use transaction searches to find specific transactions.

8.1.3 Transaction details

Under the detail summary, the Client can find all transaction details, but limited to transaction details registered in VPS. Further information may be obtained from traders, mutual funds or etc.

For certain transactions, some sections may not be updated in the VPS register.

8.1.4 ISIN information

ISIN information gives the Client information on fixed data registered with VPS regarding the chosen financial instrument, for example ISIN/securities name, country of registration, type of securities, issuer, nominal value and stock exchange code.

8.1.5 Share issues

On the subscription screen, the Client can find an overview of current secondary offerings and issues. During the subscription period, the Client can subscribe via this service and obtain more information on secondary offerings or issues.

A summary screen shows both which subscriptions in secondary offerings and issues carried out via VPS are registered under the Client's national identity number/business registration number and the status of the subscriptions. The service does not show subscriptions in secondary offerings and issues which have been concluded.

Subscriptions with status "not processed" may be annulled by clicking on "Annul" in the column "Annul".

Subscriptions in secondary offerings and issues etc. will be subject to approval from DNB or other managers, who have the right to refuse subscriptions. Generally, a subscription will not entail any allotment right. Information published on the Internet will contain the relevant premises, conditions, requirements, closing dates, allotment rules, payment etc. for each individual offering, issue etc. There may be restrictions on the number of subscriptions in the actual secondary offering or issue.

Any allotment is decided by the seller or issuer of the financial instrument in question and the Client will receive notification of allotment. After allotment, the Client's VPS account will be updated.

8.1.6 Account information

Account information shows information pertaining to the Client's VPS accounts, for example address information.

8.1.7 Personal data

On this screen, supplementary information can be entered by the Client, such as telephone number, which may be useful for VPS and DNB. An e-mail address must be given. This information can be changed at any time by the Client.

8.1.8 Investor notifications

The screen will show an overview of all amendment notifications from VPS relating to all VPS accounts for which the Client is registered as owner and which are produced and registered in VPS. Amendment notifications are listed chronologically, independent of VPS account number, but are only shown as from 2000.

8.1.9 Column administration

Column administration may be used for providing an overview of holdings and transactions. Further information on how to use this service can be found under help tools.

8.2 Services - VPS

The screen "Services" shows which supplementary services DNB offers and which services the Client has and can access.

The Client may, via this screen, order and cancel supplementary services.

8.2.1 Annual statement - VPS

The screen shows the holdings summary as at 31 December. By clicking on the securities name, detailed tax information will be shown for each individual holding.

8.2.2 Rights - VPS

This gives a summary of the rights and authorisations related to the VPS account. Rights details show which information is registered under rights/authorisations in VPS.

9. Liability for market price information

When market price information is communicated under the agreement with or without delay from Oslo Børs or other relevant information sources, DNB assumes no liability for the correctness of the information. Moreover, this service will be conditional on agreements with the relevant information sources not being significantly amended and on market price information being conveyed by the named parties. The information is owned by the different information sources and these may have immaterial rights to the information. The information sources have no liability for the correctness of the information.

10. Prices

DNB Investor Account Services' main services, as described in 8.1 Contents - VPS, are currently free of charge for the Client.

If the Client chooses to subscribe to the various supplementary services under the Agreement, as described in item 8.2 Services – VPS, the Client must pay the prices prevailing at all times for these services.

Which services are fee-paying and relevant charges may be changed with immediate effect, starting from the time the Client is informed of changes or when prevailing price lists are updated on www.dnb.no

Upon subscription, details of subscription costs will be given in the information published on the Internet pertaining to the sale, issue etc. in question.

The costs of establishing, maintaining, using or cancelling bank accounts, interest rates, interest calculations etc. are specified in DNB's "General Terms and Conditions for Deposits and Payment Orders", DNB's prevailing price list, account information and/or other suitable information. The costs related to VPS accounts will be specified in the relevant agreements.

11. Payment by the Client

When the Client uses the fee-paying services under the Agreement, the Client accepts that the bank account specified by the Client as a fee account under the "VPS Account Operating Agreement" will be debited upon payment and thus grants DNB a limited right to operate the bank account. With respect to subscriptions in secondary offerings, share issues etc., the Client will have to grant a special debit authorisation. The Client accepts that no special notification will be sent prior to such account debiting. Debits made on the basis of the Client's use of fee-paying services will appear on bank statements in the normal manner. In connection with share subscriptions, the amount to be debited the bank account will be notified in the confirmation of allotment. Information may also be searched for through the electronic channels used by the Client.

12. Imparting information. Regulatory framework

The Client hereby accepts that the Client is not entitled to impart to others - electronically or by other means - information obtained under the Agreement. This applies to all information from fee-paying services as well as any free information, whether information is imparted in an edited or non-edited form, and whether it is obtained directly or indirectly via other clients.

The Client is responsible for complying with legislation, rules, market practice, agreements etc. prevailing at any given time in Norway and abroad which regulate financial instruments, including VPS (Euronext Securites).

13. Amendments and suspension

DNB may unilaterally change agreed prices, as described above. In addition, DNB may amend other elements, including which services are comprised by the Agreement.

In the event of technical errors of various kinds, security problems or other circumstances occurring at DNB, VPS, clients or others, DNB reserves the right to suspend the Agreement such that parts of the service or the entire service is interrupted. Such suspension will apply until the reason for the suspension is rectified or until the agreement is terminated with immediate effect.

14. Termination and cancellation

This Agreement may be terminated in writing with at least four weeks' notice. Termination shall be notified to DNB by post, e-mail or fax. The Client's notice of termination must be received no later than the last banking day of a month, if it is to be effective from the end of the subsequent month. Notices of termination received after this date will enter into force at the end of the following month.

If the Client is in debt settlement proceedings or bankruptcy, the Agreement may be cancelled with immediate effect.

In the event of material breach by one of the parties, the Agreement may be terminated by the non-defaulting party with immediate effect. If VPS removes the Client's unutilized accounts, the Agreement may be cancelled by DNB with immediate effect.

15. Governing law and jurisdiction

This Agreement shall be governed by Norwegian law.

Unless otherwise provided by the Norwegian Financial Services Act, all disputes arising in connection with this Agreement shall be settled by the Oslo District Court, which is hereby accepted as the legal venue.