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					                                                                                                                             US BROKERAGE ACCOUNT APPLICATION
                                                                                                                      How to Apply for A BrokerAge Account
                                                                                                                      •   Please note you must be 18 years of age or older
US Account Applications
                                                                                                                      •   Complete sections 1–5 in BLOCK CAPITALS.
E*TRADE Securities Limited
                                                                                                                      •   tick, sign and date your completed application form.
Vintners Place
                                                                                                                      •   complete, sign and date your w-8Ben form if you’re not a U.S. Citizen.
68 Upper Thames Street
London EC4V 3BJ                                                                                                       •   Please return your completed application form and the following documents to the address on the left:
United Kingdom                                                                                                            - A legible copy of your passport or National ID card
                                                                                                                          - Evidence of your residential address which can be a recent original bank statement or utility bill
Questions?                                                                                                                  (dated within the last 3 months)
Email : prosales@etrade.com                                                                                               - For joint account please submit an additional passport copy, w-8Ben form and evidence of
Telephone: +44 203 192 0010                                                                                                 residential address
                                                                                                                      we cAnnot process your ApplicAtion witHout tHese items.
importAnt informAtion ABout proceDures for opening A new Account
To help the government fight the funding of terrorism and money laundering activities, the USA Patriot Act requires
all financial Institutions to obtain,                                                                                 optionAl
verify, and record Information that identifies each person who opens an account. What this means for you: When        • If you wish to trade on margin, please fill in section 6.
you open an account, we will ask for your name, address, date of birth, and other information that will allow us to
identify you. We may also ask to see your drivers license or other identifying documents                              • If you wish to trade on Option Markets, please fill in the The U.S. Options Trading Application Form.



    1               Choose Your Account Type
                     Individual Account                                                                                                               Joint Account



    2               Enter Your Account Holder Information (please print)
               Securities industry regulations require that we collect all of the following information.

Primary Account Holder                                                                                                             Co-Account Holder (if applicable)
 Mr.              Ms.             Name (first, middle initial, last)                                                              Mr.        Ms.        Name (first, middle initial, last)
 Dr.                                                                                                                               Dr


Home Street Address (cannot be a P.O. box)                                                                                         Home Street Address (cannot be a P.O. box)



City, Postal Code, Country                                                                                                         City, Postal Code, Country



Mailing Address (if different from above; P.O. box may be used)                                                                    Mailing Address (if different from above; P.O. box may be used)



City, Postal Code, Country                                                                                                         City, Postal Code, Country



Home Phone (include country code)                                    Business Phone (include country code)                         Home Phone (include country code)                Business Phone (include country code)



E-mail Address (required for account updates)                                                                                      E-mail Address (required for account updates)



Date of Birth (mm/dd/yyyy)                                           U.S Social Security No. (if applicable)                       Date of Birth (mm/dd/yyyy)                       U.S Social Security No. (if applicable)



Employment Status                                                                                                                  Employment Status
    Employed                   Self-employed                     Retired               Student                                    Employed          Self-employed            Retired         Student
    Not Employed                                                                                                                     Not Employed

Employer                                                             Specific Occupation                                           Employer                                         Specific Occupation



Line of Business (This box must be filled in by both employed and self-employed persons)                                           Line of Business (This box must be filled in by both employed and self-employed persons)



Business Street Address                                                                                                            Business Street Address



City, Postal Code, Country                                                                                                         City, Postal Code, Country



Are you employed by a registered securities broker/dealer, investment advisor,                                                     Are you employed by a registered securities broker/dealer, investment advisor,
bank, or other financial institution?                                                                                              bank, or other financial institution?
 No                                                                                                                                No
 Yes (you must submit a compliance letter on letterhead with this application)                                                     Yes (you must submit a compliance letter on letterhead with this application)
                                                                                                    Continued on next page
                                                                                                                               1                                          (05/12/08 ) XB U.S. Individual BROKERAGE APPLICATION
Primary Account Holder                                                                     Co-Account Holder (if applicable)

Are you a director, 10% shareholder or policymaker of a publicly held company?             Are you a director, 10% shareholder or policymaker of a publicly held company?
   No       Yes (specify companies) __________________________________                       No         Yes (specify companies) __________________________________

Do you have accounts at other brokerage firms or mutual fund companies?                    Do you have accounts at other brokerage firms or mutual fund companies?
   No       Yes (check all that apply below)                                                 No        Yes (check all that apply below)
   Discount (traditional)      Discount (electronic)      Full Commission                   Discount (traditional)      Discount (electronic)      Full Commission


 If you are not a U.S. citizen, please provide the following information.                                                (U.S. citizens residing abroad need to attach a W-9 form)

Passport Number                               Country of Issue                             Passport Number                                Country of Issue



Country of Legal Residence (please attach Form W-8BEN)                                     Country of Legal Residence (please attach Form W-8BEN)



Country of Citizenship (please attach FORM W-8BEN)                                         Country of Citizenship (please attach FORM W-8BEN)



 If you have been at your current address for less than six months, please provide your previous address

Street Address                                                                             Street Address



City, Postal Code, Country                                                                 City, Postal Code, Country




    3         Create Your Investment Profile
              Securities industry regulations require that we collect the following information: For joint accounts please include combined amounts.

Overall Investment Objective for this Account                  Investment       Annual Income                  Approximate Net Worth            Approximate Liquid Net Worth
(choose only one)                                              Experience                                      (excluding residence)            (cash, stocks, etc.)
    Capital preservation                                         None               $0-14,999                     $0-24,999                          $0-14,999
    Minimize the potential for any loss of principal                                $15,000-$24,999               $25,000-$49,999                    $15,000-$24,999
    Income                                                       Limited
                                                                                    $25,000-$49,999               $50,000-$99,999                    $25,000-$49,999
    Provide current income rather than growth of
    principal                                                    Good               $50,000-$99,999               $100,000-$499,999                  $50,000-$99,999
                                                                                    $100,000-$199,999             $500,000-$999,999                  $100,000-$199,999
    Growth                                                       Excellent
    Increase investment value over time while                                       $200,000+                     $1,000,000+                        $200,000-$499,999
    accepting price fluctuations.                                                                                                                    $500,000-$999,999
    Speculation                                                                                                                                      $1,000,000+
    Assume the highest degree of risk for potentially
    higher returns




    4     Select Your Account Features
                 Select Your Account Features
Receive Your Account Documents Online                                                       Earn Income on Your Cash Balance
For your convenience, account documents such as monthly statements, and
trade confirmations will be delivered to you via a secure online file cabinet               Select only one of the following choices
instead of by mail. We will notify you at the primary account holder’s e-mail ad-           for the cash balance in your account. For current yields and descriptions, go to
dress provided in section 2 whenever a new document is available. This feature              global.etrade.com in the ‘Pricing and Rates’ section.
is provided automatically unless declined below.
                                                                                                 E*TRADE Financial International
I would prefer to receive the following items by U.S. mail:                                       Sweep Deposit Account (ISDA)


     Monthly statements                                                                         Cash Balance

                                                                                            Interest on your cash accrues daily and is paid monthly.
     Trade confirmations

     Prospectuses
                                                                                            Fund your account
     Corporate reports, proxies and reorganization notices                                 Tell us how you’ll make your initial deposit. A $1,000 minimum is required for cash
                                                                                            accounts ($2,000 for margin accounts). Check one of the following:
You must provide us with your e-mail address in section 2 to receive elec-
tronic account documents.                                                                        I have enclosed a cheque or money order for $_______________________
You may change your delivery preferences at any time. With respect to docu-                       made payable to E*TRADE Clearing LLC.
ments you elect to receive electronically, you agree to all the terms of section                 My completed Account Transfer Form is attached
10 of the E*TRADE Securities Limited Customer Agreement U.S. Supplemental
Terms at global.etrade.com                                                                       I will transfer funds from an existing account
                                                                                                 I plan to wire funds from another financial institution




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                                                                                       2                                          (05/12/08 ) XB U.S. Individual BROKERAGE APPLICATION
  5         Sign and Date Your Application


In accordance with UK Financial Services Authority Rules, you will be classified as a Retail Client.


Fully Disclosed Clearing Arrangement
Securities products and services are offered by E*TRADE Securities Limited. For the purpose of trading in U.S. equities, options and bonds, your account is with E*TRADE
Securities Limited. E*TRADE Clearing LLC (member NYSE/FINRA/SIPC) will execute, clear and settle transactions pursuant to a fully-disclosed clearing agreement.

The legal and regulatory regime applying to E*TRADE Clearing LLC will be different from that of the United Kingdom. E*TRADE Clearing LLC is a broker dealer registered
with the U.S. Securities and Exchange Commission (“SEC”) and is subject to the rules of SEC and other US regulatory organisations as well as any other federal, state or
foreign laws, rules and regulations (collectively, the “US Rules”). We have attached a copy the 382 Disclosure Notice which outlines important information on the fully
disclosed clearing arrangement.


Client Money
As a result of the fully disclosed clearing arrangement any money we receive from you and hold under an investment agreement will not be subject to the Financial Services
Authority Client Asset rules.

Please note, E*TRADE Clearing LLC is a member of the Securities Investor Protection Corporation (“SIPC”). SIPC currently protects the Securities and/or Other Property in
each of your accounts up to $500,000, including $100,000 for claims for cash. (Please note that money market fund balances are not considered cash for this purpose; they
are considered to be securities.) E*TRADE Clearing offers additional protection secured through an independent insurer. Account protection and coverage (either under
SIPC or the additional insurance secured by E*TRADE Clearing) does not cover fluctuations in the market value of your investments. Positions held away are not in the
custody or control of E*TRADE Clearing, nor are they covered by SIPC or the additional insurance secured by E*TRADE Clearing. As a retail client you will still be eligible for
this protection. If you are eligible for an E*TRADE Options, please be aware that we will be unable to activate your account until we receive this signed confirmation.


Marketing Communications
We would like to send you occasional promotional material (including Emails) to keep you updated on our products and services. We will not divulge your details to any third
party for promotional purposes. If you do not want us to contact you with such promotional material, please contact us at emea@etrade.com.

You must tick the boxes below to complete your application
     I have read, understood and acknowledged the term and conditions set out in the E*TRADE Financial BSA Account Agreement which can be found at global.etrade.com.

     I have read and understood the NYSE Rule 382 Disclosure Notice and I acknowledge that my trading in US products will be subject US Rules as part of the fully
disclosed clearing arrangement between E*TRADE Securities Limited and E*TRADE Clearing LLC.

    I am of legal age to enter into this contract. I acknowledge that I have read, and agree to be bound by the terms and conditions as currently set forth in the
E*TRADE Customer Agreement and the US Supplemental Terms and as both are amended from time to time. The E*TRADE Customer Agreement and the US Supple
mental Terms are both available online at global.etrade.com at the bottom of the Homepage. I ACKNOWLEDGE THAT E*TRADE SECURITIES LIMITED
DOES NOT PROVIDE INVESTMENT, TAX, OR LEGAL ADVICE. I understand that you will supply my name to issuers of any securities held in my account so that i might
receive any important information regarding them, unless I notify you in writing not to do so.

      I am not a U.S. person and have attached a passport copy, W-8BEN form, and evidence of my residential address (which can be a recent original of a bank statement or
utility bill or equivalent document to verify my address). Definition of a U.S. person: 1) A citizen or resident of the United States, 2) A partnership created or oganised in the
United States or under the law of the United States or of any State, 3) A corporation created or organised in the United States or under the law of the United States or of any
State, or 4) Any estate or trust other than a foreign estate or foreign trust.

     I confirm that i have sufficient experience and understanding to participate in financial markets.

Please respond to the questions below to complete your application.
I confirm have read E*Trade Securities Limited’s Order Execution Policy at www.global.etrade.com

Yes       No 

Consent to non-publication of limit orders - Where you place a limit order in shares which are admitted to trading on a Regulated Market and the order is not immediately
executed under prevailing market conditions, you agree that E*TRADE Securities Limited may but will not be required to make public the order in a manner which is easily
accessible to other market participants

Yes       No 

Consent to executions of orders outside a Regulated Market or Multilateral Trading Facility (“MTF”) - Please provide your consent to E*TRADE Securities Limited executing
your Orders outside a Regulated Market or MTF.

Yes       No 

I confirm that the information provided on this application form is correct.

 I agree         I disagree

risk warning
please note that the value of your investments may rise or fall depending on market conditions and that you may not always recoup your initial investment. if you are in any doubt as to the
suitability of any investment you should seek independent expert advice.



                                                                                              
    Signature of Primary Account Holder                        Date                                Signature of Co–Account Holder or Custodian               Date




    Printed Name                                                                                   Printed Name




                                                                           Continued on next page
                                                                                              3                                        (05/12/08 ) XB U.S. Individual BROKERAGE APPLICATION
Disclaimer
in providing you execution only services in relation to your equities trading we are not required to assess the suitability of the instrument or the service provided or offered
to you and as a result, you will not benefit from the protection of the FSA rules on assessing suitability. Therefore, we will not assess whether: (i) the relevant product or
services meets your investment objectives (ii) you would be able financially to bear the risk of any loss that the product or service may cause; or (iii) you have the necessary
knowledge and experience to understand the risks involved.


System response and account access times may vary due to a variety of factors, including trading volumes, market conditions and system performance.

Securities products and services are offered by E*TRADE Securities Limited. For the purpose of trading in U.S. equities, options and bonds, your account is with E*TRADE Se-
curities Limited. E*TRADE Securities Limited has a fully disclosed clearing Agreement with E*TRADE Clearing LLC (member NYSE/FINRA/SIPC), which will execute, clear and
settle transactions pursuant to a fully-disclosed clearing agreement. E*TRADE Securities Limited and E*TRADE Clearing LLC are separate but affiliated companies. E*TRADE
Securities Limited is a company registered in Scotland No. SC103238 with its principal place of business at Vintners Place, 68 Upper Thames Street, London EC4V 3BJ, United
Kingdom, Registered Office: 24 Great King Street, Edinburgh EH3 6QN, United Kingdom. E*TRADE Securities Limited is a member of the London Stock Exchange and is
authorized and regulated by the Financial Service Authority. It is a wholly owned subsidiary of E*TRADE Financial Corporation.

© 2008 E*TRADE FINANCIAL Corp. All rights reserved. E*TRADE FINANCIAL is a registered trademark and the E*TRADE FINANCIAL logo is a trademark of E*TRADE
FINANCIAL Corp.




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                                                                                                  4                                        (05/12/08 ) XB U.S. Individual BROKERAGE APPLICATION
  6           Add Margin Borrowing and Overdraft Protection


Please read and sign the Margin Disclosure Statement shown below if you wish to add Margin Borrowing and Overdraft Protection to this account.


A margin account gives you the flexibility to borrow from E*TRADE Securities using the assets in your account as collateral. Proceeds may be used to purchase additional
securities, as overdraft protection, or for any other purpose.

Margin transactions involve additional risks, including the risk that you could lose more money than you deposit in your account. For more information, including current
margin interest rates and the NASD Margin Disclosure Statement, visit global.etrade.com/e/t/intl/margin

See Section 8 of the E*TRADE Securities Limited Customer Agreement U.S. Supplemental Terms at global.etrade.com/e/t/intl/margin for more information about your
responsibilities.

Margin Disclosure Statement. E*TRADE Securities LLC and its clearing broker, E*TRADE Clearing LLC, are furnishing this statement to you to provide some basic facts
about purchasing securities on margin and to alert you to the risks involved with trading securities in a margin account. Before trading stocks in a margin account, you should
carefully review the margin agreement provided by us. Contact E*TRADE Securities regarding any questions or concerns you may have with your margin account(s). When
you purchase securities, you may pay for the securities in full or you may borrow part of the purchases price from your brokerage firm. If you choose to borrow funds from
your firm, you will open a margin account with the firm. The securities purchased are the firm’s collateral for the loan to you. If the securities in your account decline in value,
so does the value of the collateral supporting your loan, and as a result the firm can take action, such as issue a margin call and/or sell securities in your account, to maintain
the required equity in the account.

It is important that you fully understand the risks involved in trading securities on margin. These risks include the following.

You can lose more funds that you deposit in the margin account. A decline in the value of securities that are purchased on margin may require you to provide additional
funds to the firm.

The firm can force the sale of securities in your account. If the equity in your account falls below the maintenance margin requirements under the law or the firm’s higher
“house” requirements, the firm can sell the securities in your account to cover the margin deficiency. You will be responsible for any shortfall in the account after such a sale.

The firm can sell your securities without contacting you. Some investors mistakenly believe that a firm must contact them for a margin call to be valid and that the firm
cannot liquidate securities in their accounts to meet the call unless the firm has contacted them first. This is not the case. Most firms will attempt to notify their customers
of margin calls, but they are not required to do so. However, even if a firm has contacted a customer and provided a specific date by which the customer can meet a margin
call, the firm can still take necessary steps to protect its financial interests, including immediately selling the securities without notice to the customer.

You are not entitled to choose which security in your margin account is liquidated or sold to meet a margin call. Because the securities are collateral for the margin loan,
the firm has the right to decide which security to sell to protect its interests.

The firm can increase its “house” maintenance margin requirements at any time and is not required to provide you with advance written notice. These changes in firm
policy often take effect immediately and may result in the issuance of a maintenance margin call. Your failure to satisfy the call may cause the firm to liquidate or sell securi-
ties in your account.

You are not entitled to an extension of time on a margin call. Although an extension of time to meet margin requirements may be available to customers under certain
conditions, a customer does not have a right to an extension.

I understand that my account, if approved, will be upgraded to a margin account. I acknowledge that securities held in my margin account may be pledged, repledged,
hypothecated, or rehypothecated for any amount due E*TRADE Clearing in my account(s) or for a greater amount which E*TRADE Clearing, at its sole discretion, may deem
necessary.




                                                                                        
    Signature of Primary Account Holder                    Date                              Signature of Co–Account Holder or Custodian           Date




    Printed Name                                                                             Printed Name



For E*TRADE Securities Use Only

I have received this application and believe the account is suitable for:  Margin      Cash               ______________________________________      _____________________

                                                                                                            Approval                                      Date




                                                                                         5                                      (05/12/08 ) XB U.S. Individual BROKERAGE APPLICATION
                                                                                                      US OPTIONS TRADING APPLICATION
                                                                                                                                                             This application is optional
                                                                                Complete this form if you would like to apply to add US options trading capability to your account.
                                                                                             Visit global.etrade.com to learn more about the risks and rewards of options trading.

Options Activity (select only one box)
If no box is selected, you will be considered for Level One account activity only.

   Level One: Write Covered Calls                    Level Two: Level One +                Level Three: Level Two +                         Level Four: Level Three + Uncovered
    (Custodial accounts will only be considered        Purchases/Covered Puts                 Spreads/Uncovered Equity Puts                     Equity/Index Calls and Uncovered Index
    for Level One or Two activity.)                                                           (Level 3 accounts require you to sign             Puts
                                                                                              the margin disclosure on page 3.)                 (Level 4 accounts require you to sign the
                                                                                                                                                margin disclosure on page 3.)




Investment Objective for Options Trading (choose only one)

    Capital preservation                            Income                                  Growth                                          Speculation
Minimize the potential for any loss of            Provide current income rather than      Increase investment value over time               Assume the highest degree of risk for
principal.                                        growth of principal.                    while accepting price fluctuations.               potentially higher returns.



 Primary Account Holder                                                                Co–Account Holder, If Applicable (or custodian if custodial account)

 Martial Status                                                                        Martial Status
  Single  Married            Divorced           Widowed                             Single  Married              Divorced          Widowed

 Number of Dependents (including self)                                                 Number of Dependents (including self)
 1 2 3          4        Other:_________                                           1 2 3          4          Other:__________

 Options Investment Knowledge                                                          Options Investment Knowledge

  None  Limited  Good  Excellent                                                    None  Limited  Good  Excellent

 Options Trading Experience                                                            Options Trading Experience

 None           Covered calls         Covered puts            Purchases            None             Covered calls          Covered puts              Purchases
  Spreads      Uncovered calls         Uncovered puts                                Spreads        Uncovered calls          Uncovered puts

 Any section left blank will be assumed to be zero or none.                            Any section left blank will be assumed to be zero or none.

 Years of Experience                                                                   Years of Experience
 Stocks: ____ yrs. / Bonds: ____ yrs. / Options: ____ yrs. / Futures:____ yrs.         Stocks: ____ yrs. / Bonds: ____ yrs. / Options: ____ yrs. / Futures:____ yrs.

 Total Transactions per Year                                                           Total Transactions per Year

 Stocks                Bonds                      Options           Futures            Stocks                      Bonds                     Options                    Futures
  0–9                  0–9                       0–9              0–9               0–9                        0–9                      0–9                       0–9
 10–14                10–14                     10–14            10–14             10–14                      10–14                    10–14                     10–14
 15–24                15–24                     15–24            15–24             15–24                      15–24                    15–24                     15–24
  25–74                25–74                     25–74            25–74             25–74                      25–74                    25–74                     25–74
  75+                  75+                       75+              75+               75+                        75+                      75+                       75+


 Average Transaction Size                                                              Average Transaction Size

  0-$9,999      $10,000-$24,999           $25,000+                                   0-$9,999         $10,000-$24,999             $25,000+




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                                                                                             6                                          (05/12/08 ) XB U.S. Individual BROKERAGE APPLICATION
special statement for uncovered options writers

There are special risks associated with uncovered options writing which expose the investor to potentially significant loss. Therefore, this type of strategy may not be suitable for all customers
approved for options transactions.

•     The potential loss of uncovered call writing is unlimited. The writer of an uncovered call is in an extremely risky position, and may incur large losses if the value of the underlying instrument
      increases above the exercise price.
•     As with writing uncovered calls, the risk of writing uncovered put options is substantial. The writer of an uncovered put option bears a risk of loss if the value of the underlying instrument
      declines below the exercise price. Such loss could be substantial if there is a significant decline in the value of the underlying instrument.
•     Uncovered options writing is thus suitable only for the knowledgeable investor who understands the risks, has the financial capacity and willingness to incur potentially substantial losses, and
      has sufficient liquid assets to meet applicable margin requirements. In this regard, if the value of the underlying instrument moves against an uncovered writer’s options position, the investor’s
      broker may request significant additional margin payments. If an investor does not make such margin payments, the broker may liquidate stock or options positions in the investor’s account
      with little or no prior notice in accordance with the investor’s margin agreement.
•     For combination writing, where the investor writes both a put and a call on the same underlying instrument, the potential risk is unlimited.
•     If a secondary market in options were to become available, investors could not engage in closing transactions, and an options writer would remain obligated until expiration or assignment.
•     The writer of an American-style option is subject to being assigned an exercise at any time after he has written the option until the option expires. By contrast, the writer of a European-style
      option is subject to exercise assignment only during the exercise period.

I agree not to enter into any options transactions until I have received, read, and understood the disclosure document entitled Characteristics and Risks of Standardized Options, which can be
found at global.etrade.com. In particular, please direct your attention to the chapter entitled Principal Risks of Options Positions. This statement is not intended to enumerate all of the risk entailed
in writing uncovered options. I am aware of the special risks and obligations of options tr ading. I have read, understood, and agree to be bound by the options trading terms and conditions outlined
in section 9 of the E*TRADE Securities Limited Customer Agreement US Supplemental Terms, which can be found at global.etrade.com. as it is amended from time to time.


In accordance with UK Financial Services Authority Rules, you will be classified as a Retail Client.
(Please tick as appropriate)

On the basis of the information that you have provided to us in this application in relation to your knowledge and experience, we may consider that derivative products are not appropriate for you.
Please confirm if you still wish to proceed with your application. You should note that derivative products may not be appropriate for you and that you may be exposing yourself to risks that fall outside
of your level of knowledge and experience.
Yes         No 

Before investing in derivative products you should consider whether it is suitable given your particular circumstances and, if necessary, seek professional advice. Derivative Products give rise to
substantial risk and are not suitable for all investors. You may loose more than your initial deposit. Only speculate with funds you can afford to loose.
Do you wish to continue and invest in Derivative Products and have you read and understood the risks associated with Derivative Products:
Yes         No 

IMPORTANT: You must also sign in section 6 of the Brokerage Application before we can open your account. You cannot use this application to upgrade an existing account.
If you would like to add options trading capability to an existing account, please use the Margin/Option Account Upgrade Form, which can be found at global.etrade.com.

Options trading carries high risk to your capital. You may lose more than your initial deposit. Only speculate with funds that your can afford to lose.



SIGN HERE


                                                                                                        
     Signature of Primary Account Holder                          Date                                        Signature of Co–Account Holder or Custodian                            Date


For E*TRADE Securities Use Only

I have reviewed this application and believe the account is suitable for:                                                                                 Approval                   Date
 Margin        Cash           Options Level One         Options Level Two            Options Level Three           Options Level Four
                                                                                                                                                          Approval                   Date




System response and account access times may vary due to a variety of factors, including trading volumes, market conditions and system performance.

Securities products and services are offered by E*TRADE Securities Limited. For the purpose of trading in U.S. equities, options and bonds, your account is with E*TRADE Securities Limited. E*TRADE
Securities Limited has a fully disclosed clearing Agreement with E*TRADE Clearing LLC (member NYSE/FINRA/SIPC), which will execute, clear and settle transactions pursuant to a fully-disclosed clearing
agreement. E*TRADE Securities Limited and E*TRADE Clearing LLC are separate but affiliated companies. E*TRADE Securities Limited is a company registered in Scotland No. SC103238 with its principal
place of business at Vinters Place, 68 Upper Thames Street, London EC4V 3BJ, United Kingdom, Registered Office: 24 Great King Street, Edinburgh EH3 6QN, United Kingdom. E*TRADE Securities Limited
is a member of the London Stock Exchange and is authorized and regulated by the Financial Service Authority. It is a wholly owned subsidiary of E*TRADE Financial Corporation.

©2008 E*TRADE FINANCIAL Corp. All rights reserved. E*TRADE FINANCIAL is registered trademark and the E*TRADE FINANCIAL logo is a trademark of E*TRADE FINANCIAL Corp.




                                                                                                     7                                          (05/12/08 ) XB U.S. Individual BROKERAGE APPLICATION
Form      W-8BEN                      Certificate of Foreign Status of Beneficial Owner
(Rev. February 2006)                          for United States Tax Withholding                                                                        OMB No. 1545-1621
Department of the Treasury
                                �     Section references are to the Internal Revenue Code. � See separate instructions.
Internal Revenue Service                � Give this form to the withholding agent or payer. Do not send to the IRS.

Do not use this form for:                                                                                                                                   Instead, use Form:
● A U.S. citizen or other U.S. person, including a resident alien individual                                                                                              W-9
● A person claiming that income is effectively connected with the conduct
  of a trade or business in the United States                                                                                                                       W-8ECI
● A foreign partnership, a foreign simple trust, or a foreign grantor trust (see instructions for exceptions)                                             W-8ECI or W-8IMY
● A foreign government, international organization, foreign central bank of issue, foreign tax-exempt organization,
  foreign private foundation, or government of a U.S. possession that received effectively connected income or that is
  claiming the applicability of section(s) 115(2), 501(c), 892, 895, or 1443(b) (see instructions)                                                       W-8ECI or W-8EXP
Note: These entities should use Form W-8BEN if they are claiming treaty benefits or are providing the form only to
claim they are a foreign person exempt from backup withholding.
● A person acting as an intermediary                                                                                                                                    W-8IMY
Note: See instructions for additional exceptions.

 Part I            Identification of Beneficial Owner (See instructions.)
  1       Name of individual or organization that is the beneficial owner                                                  2     Country of incorporation or organization


  3       Type of beneficial owner:             Individual                       Corporation                Disregarded entity         Partnership             Simple trust
              Grantor trust                     Complex trust                    Estate                     Government                 International organization
              Central bank of issue             Tax-exempt organization          Private foundation
  4       Permanent residence address (street, apt. or suite no., or rural route). Do not use a P.O. box or in-care-of address.


          City or town, state or province. Include postal code where appropriate.                                                         Country (do not abbreviate)


  5       Mailing address (if different from above)


          City or town, state or province. Include postal code where appropriate.                                                         Country (do not abbreviate)


  6       U.S. taxpayer identification number, if required (see instructions)                                     7    Foreign tax identifying number, if any (optional)
                                                                               SSN or ITIN            EIN
  8       Reference number(s) (see instructions)


Part II            Claim of Tax Treaty Benefits (if applicable)
  9       I certify that (check all that apply):
      a       The beneficial owner is a resident of                       within the meaning of the income tax treaty between the United States and that country.
      b       If required, the U.S. taxpayer identification number is stated on line 6 (see instructions).
      c       The beneficial owner is not an individual, derives the item (or items) of income for which the treaty benefits are claimed, and, if
              applicable, meets the requirements of the treaty provision dealing with limitation on benefits (see instructions).
      d       The beneficial owner is not an individual, is claiming treaty benefits for dividends received from a foreign corporation or interest from a
              U.S. trade or business of a foreign corporation, and meets qualified resident status (see instructions).
      e       The beneficial owner is related to the person obligated to pay the income within the meaning of section 267(b) or 707(b), and will file
              Form 8833 if the amount subject to withholding received during a calendar year exceeds, in the aggregate, $500,000.
10        Special rates and conditions (if applicable—see instructions): The beneficial owner is claiming the provisions of Article                                       of the
          treaty identified on line 9a above to claim a            % rate of withholding on (specify type of income):                                                          .
          Explain the reasons the beneficial owner meets the terms of the treaty article:



Part III           Notional Principal Contracts
11            I have provided or will provide a statement that identifies those notional principal contracts from which the income is not effectively
              connected with the conduct of a trade or business in the United States. I agree to update this statement as required.
 Part IV           Certification
Under penalties of perjury, I declare that I have examined the information on this form and to the best of my knowledge and belief it is true, correct, and complete. I
further certify under penalties of perjury that:
1 I am the beneficial owner (or am authorized to sign for the beneficial owner) of all the income to which this form relates,
2 The beneficial owner is not a U.S. person,
3 The income to which this form relates is (a) not effectively connected with the conduct of a trade or business in the United States, (b) effectively connected but is
not subject to tax under an income tax treaty, or (c) the partner’s share of a partnership’s effectively connected income, and
4 For broker transactions or barter exchanges, the beneficial owner is an exempt foreign person as defined in the instructions.
Furthermore, I authorize this form to be provided to any withholding agent that has control, receipt, or custody of the income of which I am the beneficial owner or
any withholding agent that can disburse or make payments of the income of which I am the beneficial owner.


Sign Here           �    Signature of beneficial owner (or individual authorized to sign for beneficial owner)         Date (MM-DD-YYYY)             Capacity in which acting

For Paperwork Reduction Act Notice, see separate instructions.                                        Cat. No. 25047Z                       Form     W-8BEN         (Rev. 2-2006)




                                                                                          8                                       (05/12/08 ) XB U.S. Individual BROKERAGE APPLICATION
                           simplifieD instructions for completion of
                           Form W-8BEN – Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding

                           NOTICE: THESE SIMPLIFIED INSTRUCTIONS ARE PROVIDED AS A CONVENIENCE AND ONLY APPLY TO THE FOLLOWING CUSTOMERS OF E*TRADE:

                           1. These instructions only apply to brokerage accounts owned by individuals

                           2. These instructions only apply to individuals who are not either a U.S. citizen or a U.S. resident

                           3. These instructions only apply to accounts which do not produce income effectively connected with a U.S. trade or business

                           All OTHER ACCOUNT HOLDERS SHOULD REFER TO THE OFFICIAL IRS INSTRUCTIONS FOR FORM W8-BEN, WHICH CAN BE FOUND AT WWW.IRS.GOV




IMPORTANT NOTICE: E*TRADE Securities Limited is an execution only stockbroker, and hence does            Line 3.     If you are an individual, please check the ”individual” box. If you are not an individual,
not provide tax advice, recommendations or warrant the accuracy of this document. E*TRADE                please do not follow these instructions. Instead, please refer to the IRS instructions.
Securities Limited is providing this Simplified Instructions as a service to the customer and
will not be liable for the customers correct filling of the document. Should discrepancies occur         Line 4.    Enter your permanent residence address. Do not abbreviate city names, e.g. please
between this Simplified Instruction and the Official IRS Instructions the Official IRS Instructions      use “HONG KONG” and not “HK”.
will prevail.
                                                                                                         Note: Your “permanent residence address” is the address in the country where you claim to be
COMPLETE W8-BEN INSTRUCTIONS                                                                             a resident for purposes of that country’s income tax. Do not show the address of a financial
                                                                                                         institution, a post office box, or an address used solely for mailing purposes. If you are an
Official IRS instructions to Form W8-BEN can be found by clicking the following icon:                    individual who does not have a tax residence in any country, your permanent residence is where
                                                                                                         you normally reside.
www.irs.gov or www.global.etrade.com
                                                                                                         Line 5.      Enter your mailing address if different from line 4.
PURPOSE OF W8-BEN
                                                                                                         Note:
This form is used by a foreign (non-U.S.) person to establish foreign status for U.S. tax purposes,      US Addresses: If either the permanent or mailing address shown on line 4 or line 5 of the form
to claim beneficial ownership of the income for which the form is being provided and, if                 is in the United States, we must also receive:
applicable, to claim a reduced rate of, or exemption from, withholding as a resident of a foreign
country with which the United States has an income tax treaty.                                               •      A letter signed by each account holder stating the reason why a U.S. address is
                                                                                                                    associated with the account
SPECIAL RULE FOR JOINT (MULTIPLE OWNER) ACCOUNTS                                                             •      Copies of a valid government-issued identification (ID), such as a passport, for each
                                                                                                                    account holder (that does not include the US address)
If your E*TRADE account is a joint account, each joint beneficial account owner must complete
and submit a separate Form W8-BEN.                                                                       Inconsistent Addresses: We must also receive proof of your country of residence or a written
                                                                                                         explanation for the difference if either the permanent or mailing address shown on line 4 or line
WHAT HAPPENS WITHOUT A TIMELY SUBMITTED FORM W-8BEN: Under U.S. tax regulations, if you                  5 is not in the country whose treaty benefits are claimed on line 9a
do not submit a valid Form W-8BEN to us on a timely basis, all payments made to your account
(including gross sales proceeds) may be subject to a 28% withholding tax. Alternatively, if you          Line 6.      Provide U.S. taxpayer identification number, if any.
do not furnish a valid treaty claim, your dividend payments may be subject to a 30% withholding          Line 7.      Foreign Tax Identifying Number (Optional)
rate, regardless of the potential for a lower treaty rate or other exemption from withholding. Any       Line 8.      Please list all E*TRADE account numbers (Optional).
over-withheld tax will generally not be reversible, and it will be your responsibility to file an
income tax return with the United States Internal Revenue Service to obtain a refund claim.
                                                                                                         Part II – Claim of Treaty Benefits
COMPLETE AND RETURN YOUR W-8BEN FORM: We need your original executed Form W-8BEN
and not a facsimile. Complete and return your from W-8BEN Form to the address of your local              Note, part II must be properly completed in order to claim the benefits of any income tax treaty
E*TRADE office. The address of your local E*TRADE office can be found on page one of the                 between the United States and the country in which you are a resident.
application or on www.global.etrade.com
                                                                                                         Line 9a.
SOME ACCOUNTS ARE REQUIRED TO USE ANOTHER FORM: Forms W-8BEN are to be completed
only by non-U.S. persons who are actual account owners and whose accounts do not produce                     1.     Check box 9a if you are entitled to benefits under a tax treaty between the U.S. and the
income effectively connected with a U.S. trade or business. If you are a U.S. citizen or resident, or               country in which you are a resident.
acting as a nominee, intermediary, or in an agency or custodial capacity, or if you are a non-U.S.           2.     On the space provided please enter the complete name of the country where you claim
partnership or pass-through trust, DO NOT SUBMIT FORM W-8BEN.                                                       to be a resident for income tax treaty purposes. Please do not abbreviate
 Note: Please refer to IRS Instructions for the series of Forms W-8 at http://www.irs.gov/for
further details.                                                                                         Note: Please refer to IRS Instructions for Form W-8BEN at www.irs.gov for more information on
                                                                                                         beneficial ownership and tax residency for treaty purposes.

instructions for How to complete form w-8Ben
                                                                                                         Part III – Notional Principal Contracts
Part I – Identification of Beneficial Owner
                                                                                                         Line 11.     This does not apply to your account so leave this section blank.
Line 1. Enter your full name. If your account is jointly owned, each beneficial owner must
complete a separate W8-BEN.                                                                              Part VI - Certification

Beneficial Owner: Please refer to IRS Instructions for Form W-8BEN at www.irs.gov for more               The beneficial owner must Sign and date the form in the spaces indicated. You may leave the
information on “beneficial ownership”. The “beneficial owner” of income is generally the person          “Capacity in which Acting” line blank.
who is required under U.S. tax principles to report the income on their US Income Tax Return.
Likewise, the “beneficial owner” of an account is the person who owns the assets in the account.         We appreciate the opportunity to be of service. If you have any questions or desire further
A person is not a beneficial owner to the extent that person is receiving income or holding assets       information, please do not hesitate to call your representative at the Introducing Firm.
as a nominee, agent or custodian, or to the extent the person is a conduit whose participation in
a transaction is disregarded.

Line 2.      Enter N/A (for “not applicable”).
                                                                  E*TRADE CLEARING LLC

                                                           DESIGNATION OF RESPONSIBILITIES
                                                              NYSE RULE 382 DISCLOSURE

 THIS DISCLOSURE STATEMENT CONTAINS IMPORTANT INFORMATION. PLEASE READ IT CAREFULLY AND RETAIN IT FOR FUTURE REFER-
                                                     ENCE.


E*TRADE Clearing LLC (“E*TRADE Clearing”) is a registered broker-dealer and member of the New York Stock Exchange (“NYSE”). E*TRADE Clearing
will clear and settle customer accounts of E*TRADE SECURITIES LIMITED (“Introducing Firm”) on a fully-disclosed basis pursuant to a clearing agreement
entered into by E*TRADE Clearing and Introducing Firm. This disclosure statement is intended to advise you that E*TRADE Clearing and the Introducing
Firm have allocated certain responsibilities and functions with respect to your account. It is important that you understand the responsibilities as between
E*TRADE Clearing and the Introducing Firm, as outlined below.

Introducing Firm will be solely responsible for opening, approving and monitoring your account to assure that the transactions in the accounts are in
compliance with all applicable laws, rules and regulations. This means that, among other things, Introducing Firm (and not E*TRADE Clearing) is solely
responsible for: (a) receiving and reviewing any financial or personal information about you and your investment objectives; (b) determining if a specific
investment strategy is suitable or appropriate for you; (c) supervising the volume of activity, or any other matter regarding the quantity, quality or
specifics of any securities or options transaction in your account; (d) making recommendations regarding a specific security or investment strategy; and
(e) providing you with research or market interpretations regarding the advisability of purchasing or selling a specific security.

If you have an options account or engage in transactions in listed securities options, Introducing Firm will be solely responsible for: (a) delivering a current
Options Clearing Corporation (OCC) brochure - Characteristics and Risks of Standardized Options - to you prior to your first options trade and delivering
to you periodic updated versions of this brochure as they are published by the OCC; (b) determining which options strategies are suitable for you; (c)
notifying you when you have been assigned delivery responsibility on a short options position; and (d) accepting exercise notices from you for long
options positions in your account.

E*TRADE Clearing will provide you with written confirmation of each transaction entered for your account. E*TRADE Clearing also will provide you with
at least one quarterly summary of the status of your account (account statement) that will list your securities and cash positions, margin debt and open
options positions, if applicable. E*TRADE Clearing provides Introducing Firm with copies of each confirmation and account statement sent to you. Please
direct any questions you may have about your confirmations or account statements to your Introducing Firm as promptly as possible.

E*TRADE Clearing will maintain books and records relating to the settlement and clearing of cash and securities transactions in your account. To the
extent E*TRADE Clearing provides execution services for Introducing Firm, E*TRADE Clearing will maintain records relating to execution. All other books
and records including information and investment objectives, records relating to orders to purchase or sell securities and communications between you
and Introducing Firm, including correspondence and documents relating to advertising and promotion will be maintained solely by Introducing Firm.

E*TRADE Clearing is responsible for holding and safekeeping your funds and securities in your account. You may deliver funds and securities to E*TRADE
Clearing or Introducing Firm for deposit to your account provided, however, that E*TRADE Clearing will only be responsible for holding and safekeeping
your funds, and securities from the time they are actually received by E*TRADE Clearing from you or Introducing Firm. Any funds or securities required to
settle transactions in your account must be delivered to E*TRADE Clearing on or before the settlement date for the transaction except where you either
deliver funds or securities directly to the Introducing Firm, you receive a check directly from Introducing Firm, or you settle the transaction on a delivery
versus payment/receive versus payment basis with a third-party custodian.

E*TRADE Clearing is responsible for approving, extending and maintaining credit or margin transactions in your account. Introducing Firm, however,
is responsible for communicating all information to you regarding margin and credit, including communications and processing margin calls. E*TRADE
Clearing may nevertheless contact you as well with respect to margin deficiencies in your account(s).

Introducing Firm is solely responsible for accepting orders from you to buy, sell, margin, tender, or exchange securities for settlement in your account.
Introducing Firm is also responsible for execution of those orders on the applicable exchange or market. Introducing Firm may request that E*TRADE
Clearing or one of its broker-dealer affiliates assist with the acceptance and execution of orders for your account. In those cases where E*TRADE
Clearing or one of its broker-dealer affiliates assists Introducing Firm with acceptance and execution, E*TRADE Clearing or its broker-dealer affiliate, as
applicable,is acting on behalf of Introducing Firm only and not directly for you. E*TRADE Clearing or its broker-dealer affiliate, as applicable, may rely
on any order or instruction it receives from Introducing Firm, or if applicable from you directly, without further inquiry. Orders for your account may only
be entered by and through Introducing Firm, unless otherwise agreed to by E*TRADE Clearing.

In addition, as part of its clearing and settlement services, E*TRADE Clearing will (a) collect from or pay to third parties money due to or from you for
securities transactions in your account; (b) receive from third parties or deliver to third parties securities purchased or sold, as the case may be; (c) collect
and pay to you dividends or interest due on securities held in your account in E*TRADE Clearing’s name and charge your account for interest or dividends
improperly credited to your account; (d) on your instruction, process exchange, rights and tender offers with respect to securities in your account and
(e) in the case of an account which trades in listed securities options, allocate assignment or exercise notices or execute notices to exercise, as the case
may be. E*TRADE Clearing also may use and rely upon third parties, including data processors, clearing agencies, transfer agents, and other service
providers.

We appreciate the opportunity to be of service. If you have any questions or desire further information, please do not hesitate to call your representative
at the Introducing Firm.

				
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