| If you sustained losses in
                                relation  to securities, the amount of compensation
                                payable 
                                to you will not exceed HK$500,000. If you sustained
                                 losses in relation to futures contracts, the
                                upper 
                                limit of the compensation is also HK$500,000.
                                 The limit is per person. For joint account,
                                each 
                                of the account holders will be subject to a
                              maximum payment limit of HK$500,000. Where the Investor Compensation Company Limited ("ICC") makes any payment
                                out of the Investor Compensation Fund in respect
                                of any claim for compensation, the Securities and Futures Commission ("SFC") and the
                                ICC shall be subrogated to all the rights and
                                remedies of the claimant in relation to the loss.
                                All assets recovered by the SFC or the ICC from
                                the subrogation shall become part of the Investor
                                Compensation Fund.
 
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