Legal Notice -- Terms of Use, Disclaimer and Legal Information

Copyright © 2003-2004 by Trapeze Asset Management Inc. ('Trapeze'). ALL RIGHTS RESERVED. This web site is published in Canada, and is protected by domestic and international Copyright laws.

Through accessing this Web Site and pages thereof you agree to be bound by the terms and conditions set forth below. Should you, after reading this "Legal Notice", disagree with the applicable terms, please do not access the site in the future. Your use of the site and its pages constitutes implied agreement to these terms.

Terms of Use

The content of the pages of this Web Site is the property of Trapeze and it is intended only for the utilization of the user. Trapeze grants to you a limited license to display the content on your PC and print the content on your printer solely for your own personal non-commercial use. No part of these documents, including the text, graphics, sound, coding, or layout, may be reproduced, stored in a retrieval system, transmitted or distributed in any form or by any means, electronic, mechanical, photocopying, printing, recording, or otherwise, nor used in any other documents or publications, without the prior written permission of the author - the only exception being the transient copy held in temporary cache during normal viewing of the document while on line, which may not be used for any other purpose. Requests for permission will be considered, and should be addressed in writing to: Trapeze Asset Management Inc., 22 St. Clair Avenue East, 18th Floor, Toronto, ON M4T 2S3 Canada. (416) 861-0774. Permission to establish a link to a document on this site is not required. If you notify the author of such a link, if appropriate, a reciprocal link may be established.

Disclaimer and Legal Notice

All products and services provided by Trapeze are subject to the respective agreements and applicable terms governing their use. This site is for reference purposes only and is not intended to provide any form of advice. Please contact the appropriate Trapeze professional directly before acting on any of the information on this web site.

This Web Site contains charts, tables, performance and other information about funds and other investment products and services ("Information") which are provided to you for your informational purposes only and are not intended to be and do not constitute investment or tax advice nor an opinion or recommendation regarding the appropriateness of any investment. The Information is not intended to be and should not be relied or acted upon without consulting with and obtaining specific advice from your financial or tax advisor. The Information does not constitute an offer to sell, or a solicitation of an offer to buy, any securities named in this Web Site or an interest in any Fund.

The Information contained in this Web Site is drawn from sources believed to be reliable, but it has not been independently verified or audited. The accuracy and completeness of the information is not guaranteed, nor does Trapeze make any express or implied warranties regarding the Information or assume any liability in providing it. Trapeze shall not be liable for any losses, costs, expenses or damages relating to the adequacy, accuracy, completeness, timeliness or validity of the Information or relating to any investment decision made based upon the Information. This information on this site is subject to change and Trapeze assumes no obligation to update the information or advise on further developments relating to these securities. Please consult Trapeze directly for complete and up-to-date information on products and services.

Past performance is no guarantee of future returns, particularly with respect to short-term performance. No representation is made that any investor in any Fund or portfolio managed by Trapeze will or is likely to achieve results comparable to those shown on this Web Site or will make any profit at all or will be able to avoid incurring substantial losses. Net asset value of any portfolio or Fund managed by Trapeze and the return on an actual investment in any security, portfolio or Fund will fluctuate, and an investor may have a gain or loss upon disposition of his or her investment in such security, portfolio or Fund.

Trapeze, its affiliated companies and their respective directors, officers and employees and companies with which they are associated may, from time to time, hold the securities mentioned on this site.

This Web Site contains information about funds and other investment products and services which are not intended for or available to certain investors in certain jurisdictions. Moreover, such funds and investment products have not been registered with or approved by any Canadian regulatory authority or the U.S. Securities and Exchange Commission. The funds and other investment products and services referred to on this Web Site are only available to investors in certain jurisdictions where they may be legally offered and to certain investors who are qualified according to the laws of the applicable jurisdiction. Nothing on this web site shall constitute an offer or solicitation to anyone in any jurisdiction where such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such a solicitation. Trapeze’s products are not being offered in the United States or to U.S. persons by way of this website and may only be offered in the United States or to U.S. persons pursuant to applicable U.S. laws.

E-mail communications over the Internet, no matter how protected or encrypted, may not be secure and may not be confidential. Trapeze is not responsible for any e-mail communication sent by you to Trapeze or sent by Trapeze to you from being intercepted, read or distributed to unknown persons and Trapeze will not be liable for errors, omissions or alterations made or caused by email communications. Any confidential information sent by you to Trapeze is at your own risk.

This Web Site may contain electronic hyperlinks to other sites on the Internet that are owned or operated by third parties.  Trapeze offers these hyperlinks as a convenience to you and other users, but makes no representations, does not guarantee, has no control over and is not responsible for the accuracy, quality, or suitability of the information provided on third party sites located through such hyperlinks.  A link to a non-Trapeze site does not imply that Trapeze endorses the site or the products or services referenced on such third party’s site.  In addition, Trapeze is not responsible for the security practices or privacy policies of such other sites and sponsoring companies.  When you leave our site by means of a hyperlink, you are subjecting yourself to whatever policies and practices might be employed by the operators of the other Web site, and Trapeze has no control over such activities.  When linking to a third party’s site, you do so at your own risk and it is strongly recommended that you review the terms and conditions of use of the other Web site and determine if you agree with its user policy before using such site.

Any legal disputes regarding the site shall be settled through the governance of applicable Canadian laws.