This document is for Professional Investors and Financial Advisers only

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1 Easton AM - Discretionary Portfolio Management Monthly Performance Report October 2013 IDMS Model Portfolios - Matrices (Unit-linked) - Cautious Portfolios - Balanced Portfolios - Growth Portfolios - High Growth Portfolios Global Asset Classes Hedge Fund Strategies Global Currencies This document is for Professional Investors and Financial Advisers only This document is not for distribution to retail clients and should not be used or relied upon by them

2 Easton AM Discretionary Portfolio Management Background Discretionary Managament Service (DMS) Easton Asset Management (EAM) commenced the Discretionary Management Service in the early part of 2005 The DMS drew upon EAM's knowledge and experience in global macroeconomic research, strategic & tactical asset allocation and fund selection In 2011 EAM re-structured this service and rolled it into the new Independent Discretionary Management Service (IDMS) Independent Discretionary Management Service (IDMS) The Independent Discretionary Management Service was created in 2011 due to a demand for a core/satellite approach to portfolio construction. The IDMS combines the knowledge and experience of both Easton Asset Management (EAM) and Momentum Global Investment Management (MGIM) Under the IDMS, asset allocation strategy is provided by MGIM while EAM looks after fund selection, deal placement and reporting Where possible, the core of the IDMS portfolios is also managed by MGIM via the Harmony range of funds. The Harmony funds represent a multi-asset, multi-manager solution and are an ideal fit for a portfolio core The overall service is run by the EAM team The DMS and the IDMS have a combined track record of 7 years and EAM have significant experience in managing portfolios on a wide range of offshore life company investment platforms

3 Easton IDMS Matrices : Unit-linked Cautious Portfolios Inception 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year EAM IDMS Friends Provident Asian Cautious Dec % 1.43% -3.76% EAM IDMS Friends Provident AUD Cautious Dec % -0.48% 7.32% EAM IDMS Friends Provident EUR Cautious Mar % 1.01% -2.09% 2.01% 4.80% - EAM IDMS Friends Provident GBP Cautious Feb % -0.39% -3.30% 2.89% 2.72% - EAM IDMS Friends Provident USD Cautious Feb % 1.95% -0.76% 0.73% -1.90% - EAM IDMS Generali Asian Cautious Dec % 1.56% -1.59% EAM IDMS Generali AUD Cautious Dec % -0.36% 9.50% EAM IDMS Generali EUR Cautious Mar % 0.01% -2.66% 1.32% - - EAM IDMS Generali GBP Cautious Mar % -0.29% -2.09% 4.83% - - EAM IDMS Generali USD Cautious Mar % 1.95% 0.09% 2.27% - - EAM IDMS Hansard Asian Cautious Dec % 1.53% -2.93% EAM IDMS Hansard AUD Cautious Dec % 0.43% 8.06% EAM IDMS Hansard EUR Cautious Dec % 0.82% -1.43% EAM IDMS Hansard GBP Cautious Dec % 0.40% -3.81% EAM IDMS Hansard USD Cautious Dec % 2.33% -1.63% EAM IDMS Royal London 360 Asian Cautious Dec % -0.09% -4.55% EAM IDMS Royal London 360 AUD Cautious Dec % -0.39% 4.96% EAM IDMS Royal London 360 EUR Cautious Dec % -0.07% -3.60% EAM IDMS Royal London 360 GBP Cautious Dec % -1.48% -3.86% EAM IDMS Royal London 360 USD Cautious Dec % 2.04% -1.17% EAM IDMS Momentum Asian Cautious Dec % 2.18% -1.18% EAM IDMS Momentum AUD Cautious Dec % 1.82% 6.76% EAM IDMS Momentum EUR Cautious Dec % 0.61% -1.52% EAM IDMS Momentum GBP Cautious Dec % -0.66% -2.03% EAM IDMS Momentum USD Cautious Dec % 2.04% 0.90% EAM IDMS Royal Skandia Asian Cautious Dec % 2.41% -3.63% EAM IDMS Royal Skandia AUD Cautious Dec % -0.01% 7.31% EAM IDMS Royal Skandia EUR Cautious Mar % -0.11% -4.72% -1.92% - - EAM IDMS Royal Skandia GBP Cautious Mar % 0.45% -3.47% 1.85% - - EAM IDMS Royal Skandia USD Cautious Mar % 2.38% -0.93% 0.25% - - EAM IDMS Zurich Asian Cautious Dec % 1.73% -5.45% EAM IDMS Zurich AUD Cautious Dec % 1.91% 4.42% EAM IDMS Zurich EUR Cautious Dec % 0.39% -5.17% EAM IDMS Zurich GBP Cautious Dec % -1.38% -7.13% EAM IDMS Zurich USD Cautious Dec % 2.33% -3.04% - - -

4 Easton IDMS Matrices : Unit-linked Balanced Portfolios Inception 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year EAM IDMS Friends Provident Asian Balanced Jun % 3.01% -2.54% 0.89% - - EAM IDMS Friends Provident AUD Balanced Jun % 1.79% 8.31% 14.03% - - EAM IDMS Friends Provident EUR Balanced Mar % 1.98% -1.54% 3.50% 7.51% - EAM IDMS Friends Provident GBP Balanced Feb % 0.42% -1.87% 7.19% 7.65% - EAM IDMS Friends Provident USD Balanced Feb % 2.96% 1.28% 4.56% 9.26% - EAM IDMS Generali Asian Balanced Jun % 1.43% -2.86% 1.89% - - EAM IDMS Generali AUD Balanced Jun % 1.70% 8.87% 16.55% - - EAM IDMS Generali EUR Balanced Jan % 0.92% -1.75% 3.49% - - EAM IDMS Generali GBP Balanced Jan % -0.19% -2.05% 6.26% - - EAM IDMS Generali USD Balanced Jan % 2.91% 2.01% 6.29% - - EAM IDMS Hansard Asian Balanced Jun % 1.73% -3.14% -1.61% - - EAM IDMS Hansard AUD Balanced Jun % 1.64% 8.43% 10.53% - - EAM IDMS Hansard EUR Balanced Jun % 2.41% -0.46% 2.13% - - EAM IDMS Hansard GBP Balanced Jun % 1.82% -2.16% 3.91% - - EAM IDMS Hansard USD Balanced Jun % 3.45% 1.05% 2.86% - - EAM IDMS Royal London 360 Asian Balanced Jun % 0.51% -4.13% -0.95% - - EAM IDMS Royal London 360 AUD Balanced Jun % 1.72% 6.22% 11.86% - - EAM IDMS Royal London 360 EUR Balanced Jun % 1.81% -1.40% 2.13% - - EAM IDMS Royal London 360 GBP Balanced Jun % -2.10% -4.53% 3.08% - - EAM IDMS Royal London 360 USD Balanced Jun % 3.41% 0.13% 1.64% - - EAM IDMS Momentum Asian Balanced Jun % 2.95% -1.30% 3.47% - - EAM IDMS Momentum AUD Balanced Jun % 2.27% 7.82% 12.03% - - EAM IDMS Momentum EUR Balanced Jun % 1.29% -2.07% 3.26% - - EAM IDMS Momentum GBP Balanced Jun % -0.32% -2.48% 5.91% - - EAM IDMS Momentum USD Balanced Jun % 2.64% 0.81% 4.57% - - EAM IDMS Royal Skandia Asian Balanced Jun % 4.11% -2.29% 0.36% - - EAM IDMS Royal Skandia AUD Balanced Jun % 2.20% 8.56% 15.39% - - EAM IDMS Royal Skandia EUR Balanced Jun % 0.90% -3.39% 0.39% 8.31% - EAM IDMS Royal Skandia GBP Balanced Feb % 0.88% -2.37% 5.44% 6.68% - EAM IDMS Royal Skandia USD Balanced Jun % 3.96% 1.24% 4.75% 11.91% - EAM IDMS Zurich Asian Balanced Jun % 2.44% -5.43% -3.92% - - EAM IDMS Zurich AUD Balanced Jun % 4.24% 6.75% 10.68% - - EAM IDMS Zurich EUR Balanced Jun % 0.44% -5.25% -3.20% - - EAM IDMS Zurich GBP Balanced Jun % -0.45% -5.68% -0.28% - - EAM IDMS Zurich USD Balanced Jun % 3.66% -1.15% -0.97% - -

5 Easton IDMS Matrices : Unit-linked Growth Portfolios Inception 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year EAM IDMS Friends Provident Asian Growth Jun % 4.64% -0.91% 4.62% - - EAM IDMS Friends Provident AUD Growth Jun % 3.98% 9.38% 16.96% - - EAM IDMS Friends Provident EUR Growth Mar % 2.15% -2.11% 4.89% 8.97% - EAM IDMS Friends Provident GBP Growth Feb % 1.61% -0.06% 11.86% 11.02% - EAM IDMS Friends Provident USD Growth Feb % 4.27% 3.51% 8.56% 14.48% - EAM IDMS Generali Asian Growth Jun % 2.83% -1.94% 4.32% - - EAM IDMS Generali AUD Growth Jun % 3.75% 9.59% 18.57% - - EAM IDMS Generali EUR Growth Jan % 1.71% -1.81% 4.51% - - EAM IDMS Generali GBP Growth Jan % 0.45% -2.34% 8.98% - - EAM IDMS Generali USD Growth Jan % 4.73% 3.37% 9.28% - - EAM IDMS Hansard Asian Growth Jun % 3.57% -1.46% 3.79% - - EAM IDMS Hansard AUD Growth Jun % 3.92% 10.47% 16.86% - - EAM IDMS Hansard EUR Growth Jun % 4.37% 1.80% 8.29% - - EAM IDMS Hansard GBP Growth Jun % 2.66% -0.07% 10.76% - - EAM IDMS Hansard USD Growth Jun % 4.69% 3.88% 8.27% - - EAM IDMS Royal London 360 Asian Growth Jun % 3.11% -1.29% 4.47% - - EAM IDMS Royal London 360 AUD Growth Jun % 4.38% 7.41% 16.53% - - EAM IDMS Royal London 360 EUR Growth Jun % 3.58% 0.95% 7.72% - - EAM IDMS Royal London 360 GBP Growth Jun % -0.05% -1.89% 8.97% - - EAM IDMS Royal London 360 USD Growth Jun % 4.19% 0.55% 2.20% - - EAM IDMS Momentum Asian Growth Jun % 4.11% -0.41% 6.09% - - EAM IDMS Momentum AUD Growth Jun % 3.58% 8.10% 15.05% - - EAM IDMS Momentum EUR Growth Jun % 4.39% -0.10% 6.35% - - EAM IDMS Momentum GBP Growth Jun % 1.39% -0.52% 10.40% - - EAM IDMS Momentum USD Growth Jun % 3.74% 2.52% 7.95% - - EAM IDMS Royal Skandia Asian Growth Jul % 6.36% -0.32% 4.50% - - EAM IDMS Royal Skandia AUD Growth Jul % 4.18% 7.57% 13.78% - - EAM IDMS Royal Skandia EUR Growth Jun % 2.77% -1.12% 4.73% 8.71% - EAM IDMS Royal Skandia GBP Growth Feb % 2.99% -0.56% 9.99% 13.44% - EAM IDMS Royal Skandia USD Growth Jun % 5.57% 3.57% 8.91% 15.84% - EAM IDMS Zurich Asian Growth Jun % 2.94% -5.49% -1.54% - - EAM IDMS Zurich AUD Growth Jun % 5.90% 7.05% 14.56% - - EAM IDMS Zurich EUR Growth Jun % 2.13% -4.29% -0.06% - - EAM IDMS Zurich GBP Growth Jun % 0.75% -4.32% 3.74% - - EAM IDMS Zurich USD Growth Jun % 4.47% 0.21% 3.55% - -

6 Easton IDMS Matrices : Unit-linked High Growth Portfolios Inception 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year EAM IDMS Friends Provident Asian High Growth Jun % 5.72% -0.63% 5.10% - - EAM IDMS Friends Provident AUD High Growth Jun % 5.09% 8.55% 16.48% - - EAM IDMS Friends Provident EUR High Growth Jun % 3.89% -1.41% 5.46% - - EAM IDMS Friends Provident GBP High Growth Jun % 3.02% 0.00% 12.85% - - EAM IDMS Friends Provident USD High Growth Jun % 5.33% 2.97% 8.43% - - EAM IDMS Generali Asian High Growth Jun % 2.41% -2.78% 3.97% - - EAM IDMS Generali AUD High Growth Jun % 3.52% 7.84% 17.76% - - EAM IDMS Generali EUR High Growth Jun % 1.47% -2.66% 3.98% - - EAM IDMS Generali GBP High Growth Jun % -0.03% -3.41% 8.50% - - EAM IDMS Generali USD High Growth Jun % 4.36% 2.47% 8.94% - - EAM IDMS Hansard Asian High Growth Jun % 4.22% -1.24% 5.91% - - EAM IDMS Hansard AUD High Growth Jun % 4.37% 9.32% 17.07% - - EAM IDMS Hansard EUR High Growth Jun % 4.87% 1.37% 8.83% - - EAM IDMS Hansard GBP High Growth Jun % 2.85% -1.22% 10.15% - - EAM IDMS Hansard USD High Growth Jun % 5.10% 3.33% 9.33% - - EAM IDMS Royal London 360 Asian High Growth Jun % 3.49% -1.36% 5.41% - - EAM IDMS Royal London 360 AUD High Growth Jun % 4.33% 6.92% 16.97% - - EAM IDMS Royal London 360 EUR High Growth Jun % 4.05% 0.76% 8.29% - - EAM IDMS Royal London 360 GBP High Growth Jun % -0.50% -3.30% 8.18% - - EAM IDMS Royal London 360 USD High Growth Jun % 5.09% 0.23% 2.35% - - EAM IDMS Momentum Asian High Growth Jun % 5.92% -1.25% 4.97% - - EAM IDMS Momentum AUD High Growth Jun % 3.44% 7.57% 13.42% - - EAM IDMS Momentum EUR High Growth Jun % 5.25% -1.19% 5.30% - - EAM IDMS Momentum GBP High Growth Jun % 3.36% -0.38% 10.32% - - EAM IDMS Momentum USD High Growth Jun % 4.00% 1.37% 6.14% - - EAM IDMS Royal Skandia Asian High Growth Jul % 7.14% 0.53% 5.39% - - EAM IDMS Royal Skandia AUD High Growth Jul % 5.22% 8.87% 16.47% - - EAM IDMS Royal Skandia EUR High Growth Jul % 3.45% -0.64% 6.08% - - EAM IDMS Royal Skandia GBP High Growth Jul % 3.19% -0.52% 10.54% - - EAM IDMS Royal Skandia USD High Growth Jul % 6.76% 4.01% 9.88% - - EAM IDMS Zurich Asian High Growth Jun % 3.26% -5.72% -0.68% - - EAM IDMS Zurich AUD High Growth Jun % 6.82% 6.82% 16.26% - - EAM IDMS Zurich EUR High Growth Jun % 3.19% -3.73% 1.85% - - EAM IDMS Zurich GBP High Growth Jun % 1.68% -4.09% 5.45% - - EAM IDMS Zurich USD High Growth Jun % 4.84% 0.53% 6.11% - -

7 Global Asset Classes Asset Class Index Index Currency 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year 10 Year EQUITY (Developed) MSCI The World Local 7.97% 5.69% 16.60% 62.97% 54.29% 28.38% 41.46% United States S&P 500 USD 2.19% 10.20% 7.46% 24.29% 30.50% 42.25% % United Kingdom FTSE All Share GBP 1.12% 5.58% 3.84% 18.93% 33.36% 66.21% % Western Europe MSCI Europe ex UK Local 3.46% -0.18% 3.02% 3.95% -1.76% 58.11% % Japan Nikkei 225 JPY 3.14% 5.24% 8.31% 19.34% 57.16% 61.18% % Australia MSCI Australia AUD 5.29% 9.26% -0.89% 1.24% -4.64% 24.16% % Singapore Straits Times SGD 4.59% 0.55% -4.24% 3.51% 2.27% 34.29% 94.25% Hong Kong Hong Kong Hang Seng HKD 5.68% 10.70% 5.54% 13.64% 13.39% 50.35% % EQUITY (Emerging) MSCI Emerging Markets Local 3.68% 5.13% 1.88% 7.15% 8.96% 60.57% % Latin America MSCI Latin America Local 5.10% 9.80% 10.28% 23.73% 28.18% 32.59% % Europe MSCI EM Europe Local 3.98% 4.66% -4.55% -0.80% -0.11% 35.93% % Africa MSCI EFM Africa Local 4.25% 5.76% 1.23% 6.19% 9.52% 50.50% - Asia MSCI EM Asia Local 7.19% 8.60% 3.39% 7.49% 12.07% 24.75% % Brazil MSCI Brazil BRL 5.32% 12.23% 4.81% 13.07% 1.39% 53.19% % Russia MSCI Russia RUB 3.77% 6.52% 8.59% 23.04% 43.19% 46.84% % India MSCI India INR 7.82% 12.47% 7.82% 6.67% 14.24% 11.50% % China MSCI China RMB 5.68% 9.87% 9.90% 18.84% 49.79% 80.53% % EQUITY (Property) FTSE EPRA/NAREIT Global Developed Local 3.03% -1.63% -6.35% 5.45% 36.08% 48.48% - North America FTSE EPRA/NAREIT United States USD 3.21% -3.02% -4.40% 5.81% 41.22% 30.36% - United Kingdom FTSE EPRA/NAREIT United Kingdom GBP 3.83% 5.76% 12.19% 24.81% 48.87% 9.71% - Europe FTSE EPRA/NAREIT Euro Zone EUR 5.26% 4.82% 5.02% 16.10% 17.57% 36.88% - Asia Pacific FTSE EPRA/NAREIT Developed Asia Local 5.45% 3.04% -6.10% 11.56% 34.50% 74.92% - COMMODITY TR/Jefferies CRB Spot USD -1.14% -0.12% -2.54% -5.98% -4.06% 13.22% 74.39% Agricultural S&P GSCI Agriculture Total Return USD -0.99% -3.39% -8.54% % -1.64% -6.43% -2.83% Industrial S&P GSCI Industrial Metals Spot USD 1.98% 5.63% -3.88% % % -1.95% % Energy S&P GSCI Energy Spot USD -5.09% 4.46% -0.97% 0.86% 25.40% -1.60% % Precious Metals S&P GSCI Precious Metal Spot USD -5.30% 8.82% % % 0.90% 52.90% % BONDS/FIXED INCOME Barclays Global Aggregate USD Hedged USD H 0.81% 0.83% -0.92% 0.54% 9.23% 27.72% 54.10% US Government Barclays U.S. Government USD 0.70% 0.12% -1.76% -1.98% 6.54% 21.64% 50.46% US Corporate Barclays U.S. Corporate Investment Grade USD 0.69% 0.82% -2.51% -1.58% 13.80% 55.57% 67.17% Euro Government iboxx Euro Sovereigns EUR 0.74% 0.97% 0.72% 4.07% 11.90% 29.59% 53.11% Euro Corporate iboxx Euro Corporates EUR 0.67% 1.27% 0.76% 4.35% 15.07% 42.65% 53.89% UK Government iboxx Stg GILTS ALL MATS GBP 0.79% 0.49% -3.38% -3.19% 14.10% 36.99% 70.66% UK Corporate iboxx Stg CORP. ALL MATS GBP 1.00% 2.77% -0.12% 4.29% 20.72% 53.53% 65.33% Emerging Government JPM GBI-EM Global Composite USD 5.07% 0.23% -7.53% -3.81% 5.56% 34.69% % Asia Government JPM GBI-EM Global Asia USD 1.95% -6.72% % -9.44% 0.29% 38.47% - Global High Yield Barclays Global High Yield USD H 1.17% 2.54% 0.88% 7.24% 29.80% 91.42% %

8 Hedge Fund Strategies Hedge Fund Strategy Index Index Currency 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year 10 Year Fund of Funds Multi-Strat, Multi-Manager FoHF HFRI Fund of Funds Composite USD n/a 1.77% 1.82% 6.58% 7.68% 10.14% 39.65% Multi-Strat, Multi-Manager FoHF DJ Credit Suisse Hedge Fund Index USD n/a 1.61% 1.74% 7.41% 15.76% 30.61% 85.98% Global Macro Global Macro HFRI Macro (Total) USD n/a -1.09% -3.27% -2.92% -1.79% 9.50% 56.89% Managed Futures HFRI Macro: Systematic Diversified USD n/a -2.85% -4.95% -6.10% -4.64% 7.41% 91.04% Equity Hedge Equity Hedge HFRI Equity Hedge (Total) USD n/a 4.02% 3.94% 11.09% 14.47% 28.95% 69.23% Equity Market Neutral HFRI EH: Equity Market Neutral USD n/a 0.86% 1.64% 4.61% 6.65% 5.67% 29.45% Equity Long/Short DJ Credit Suisse Long/Short Equity Hedge USD n/a 3.48% 5.36% 13.07% 17.70% 34.16% 97.46% Relative Value Relative Value HFRI Relative Value (Total) USD n/a 1.61% 1.55% 7.18% 19.54% 44.92% 87.63% Fixed Income Convertible Arb HFRI RV: Fixed Income Convertible Arbitrage USD n/a 1.78% 3.24% 8.12% 13.96% 63.97% 59.19% Event Driven Event Driven HFRI Event Driven (Total) USD n/a 2.84% 4.61% 12.30% 19.84% 39.28% % Distressed/Restructuring HFRI ED: Distressed/Restructuring USD n/a 2.44% 4.71% 13.55% 23.79% 42.46% % n/a = Not available at time of production

9 Global Currencies % Return against the US Dollar Country Currency Reference Currency 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year 10 Year Australia Australian Dollars USD 4.99% 2.08% % % -3.39% 18.46% 38.12% Euro Zone Euro USD 2.65% 4.05% 5.64% 5.23% -0.81% -3.69% 16.27% Hong Kong HK Dollars USD 0.00% 0.03% 0.11% -0.02% 0.11% 0.13% -0.02% India Indian Rupees USD 6.81% -5.00% % % % % % Japan Japanese Yen USD 0.20% 1.44% -3.83% % % 8.42% 13.47% United Kingdom Pounds Sterling USD 4.50% 6.35% 6.39% 0.16% 2.58% -9.34% -2.69% Singapore Singapore Dollars USD 1.80% 1.12% -1.11% -2.19% 4.86% 14.00% 37.98% South Africa South African Rand USD 2.18% -0.87% -7.96% % % % % Switzerland Swiss Francs USD 3.09% 4.60% 4.95% 3.91% 8.03% 23.95% 46.76%

10 Past performance of any investment is not necessarily a guide to the future. All performance is calculated Total Return, net of an assumed 1% annual management charge. Any potential investment platform/vehicle fees & charges have not been taken into account. Fluctuations in the value of the underlying funds and the income from them and changes in interest rates mean that the value of the Portfolio and any income arising from it may fall, as well as rise, and is not guaranteed. Deductions of charges and expenses mean that you may not get back the amount you invested. The fees charged by the managers of the underlying funds are not guaranteed and may change in the future. Notwithstanding ongoing monitoring of the underlying funds within the Portfolios there can be no assurance that the performance of the funds will achieve their stated objectives. The Portfolios may contain shares or units in underlying funds that invest internationally. The value of your investment and the income arising from it may therefore be subject to exchange rate fluctuations. The appointed Management Company for the IDMS Portfolios is Easton Asset Management Limited. Easton Asset Management Ltd is not licensed and regulated in any jusrisdiction outside of Australia. This Report may not be circulated or copied where it may constitute an infringement of any local laws or regulations. This Report is for the sole use of the intended recipient and may not be reproduced or circulated without the prior written approval of the Investment Manager. All data contained herein is provided by FE. Care has been taken to ensure that the information is correct but it neither warrants, represents nor guarantees the contents of the information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Financial Express (Holdings) Limited Registration number: Registered office: 7 Chertsey Road, Woking, Surrey, GU21 5AB. Telephone Website The FTSE APCIMS Private Investor Index Series provide investors with an objective measure of performance against which to measure their investment portfolios, based upon the assumption that they are domestic investors with sterling denominated accounts. The index series represents the performance for growth-orientated, income, balanced and conservative investors and incorporates returns from FTSE indices representing UK equities, international equities, fixed income, cash and investment trusts. Disclaimer So far as the law allows, the author disclaims any warranty or representations to the accuracy or reliability of the information and statements in this document. The author expressly advise that it shall not be liable in any way whatsoever (whether negligence or otherwise) for any loss or damage which may be suffered by any person relying upon such information or conclusions contained in this document or otherwise arising in connection with the contents of or any omission from this document except where a liability is made non-excludable by legislation. The author has not knowledge of the readers specific investment requirements and therefore recipients should not rely upon the contents of this document but should make their own assessment and evaluation, undertake an investigation and enquires and seek advice to enable them to make any decision concerning their own risk. Easton Asset Management Ltd is licensed and regulated by the Australian Securities and Investments Commission AFSL No Australian Office: Level 16, 90 Collins Street, Melbourne, Victoria, 3000, Australia. Tel Fax: Cayman Office: Caledonian House, 69 Dr Roy s Drive, Gr. Grand Cayman, Cayman Islands, British West Indies Malaysian Office: PO Box 10209, Kuala Lumpur, Malaysia. Tel: Fax: adminasia@eastoninvest.com Website: