TERMS AND CONDITIONS FOR USE OF MERCER>IS<

It is important you read the following terms and conditions ("Terms and Conditions") carefully before you use this Site, as you and your employer (or the licensed entity that has authorised you as its representative under chapter 7 of the Corporations Act 2001, as the case may be) will be bound by them whenever you access, browse or use the Site. By accessing, browsing, or using this Site, you acknowledge that you have read, understood, and accepted these Terms and Conditions . Please be aware that we may change these Terms and Conditions at any time. These Terms and Conditions were last revised on 15 December 2003.

This Site is provided to you by Mercer Human Resource Consulting Pty Ltd ABN 32 005 315 917 as an authorized representative of Mercer Investment Nominees Limited ABN 79 004 717 533 (AFSL number 235906). ("the Provider") under an agreement with a securities dealer who has registered you as the holder of a proper authority or Australian financial services licensee who has appointed you as its authorised representative ("Licensee"). If that agreement ceases your access to this site shall also cease.

Terms and Conditions

In accessing, browsing or using this Site you acknowledge and agree with the Provider:

1. You are not a Retail Client within the meaning provided in chapter 7 of the Corporations Act 2001 ("Retail Client").
   
   
2. If you are a Retail Client you agree not to use this Site and to notify the Provider that you are a Retail Client and to cancel your username and password.
   
   
3. You are authorised by your employer (or the Licensee, as the case may be) to bind it to these Terms and Conditions.
   
   
4. You agree and acknowledge that the Licensee:
   1. is solely responsible for the assessment and use of content available at the Site and its appropriateness and application in relation to any Retail Client;
   2. is solely responsible for the provision of any advice to your Retail Clients, and the Provider has no responsibility for the provision of any advice to your Retail Clients;
   3. is not an authorised representative of Mercer under Mercer's Australian Financial Services Licence, nor will the Licensee hold itself out as being an authorised representative of Mercer.
   
   
   
5. You agree that you are either an authorised representative of a licensed securities dealer or a representative of an Australian Financial Services holder, and if you cease to be so appointed, you will immediately notify the Provider and cease use of the Site.
   
   
6. You have been provided with a confidential username and password that will permit access to the Site.
   
   
7. You acknowledge that access to this Site is provided to any person using your username and password. You must therefore do everything necessary to protect your username and password from disclosure to any other person. You will be responsible for all acts of unauthorised use of your username and password.
   
   
8. Where as a result of your act or omission, any content at the Site is accessible to or obtained by any person (other than a person authorised by the Provider to access the Site) ("Unauthorised Use"), the Provider will immediately have the right to retrospectively charge you a fee equal to the user fee ordinarily charged by the Provider for access to the Site multiplied by the number of persons who have engaged in Unauthorised Use (whether for gain or sale or otherwise) multiplied by the number of months (or parts thereof) that each such person has engaged in such Unauthorised Use.
   
   
9. You will not attempt to access any content at this Site which you are not authorised to access and will notify the Mercer>IS< Web Site Manager via (03) 9245 5573 ("Site Contact") immediately you become aware of any such unauthorised access or attempted access.
   
   
10. You must notify the Site Contact immediately if you become aware that your password has been lost or forgotten. A new password will be provided to you.
    
    
11. If requested by the Provider or in the event of clause 4 occurring, you must immediately agree to change your password.
    
    
12. You will notify the Site Contact in writing if you want your access to the Site suspended or cancelled at any time.
    
    
13. Your use of the Site may be interrupted, varied, suspended or cancelled by the Provider at any time without notice or for reasons beyond the Provider's control. You agree that the Provider shall not be liable for any interruption, variation, suspension or cancellation of the Site.
    
    
14. The Provider does not guarantee the security of transmissions over the Internet. The Provider shall not be responsible for your access to the Site, for any interception or interruption of any communications through the Internet, or for changes to or losses of data.
    
    
15. You may not use the content obtained from the Site other than:
    1. make copies for back up purposes;
    2. for internal research and analysis purposes; and
    3. on a tailored, one-to-one basis for your clients who seek specific and individual investment advice.
    
    
    
16. When using content obtained from the Site to provide tailored, on a one-to-one basis individual investment advice, you will use a disclaimer in relation to the content used in that advice as directed by the Provider and include an attribution to the Provider in the form directed by the Provider.
    
    
17. The Site's content has been compiled in good faith by the Provider but no guarantee is given (either express or implied) regarding reliability, timeliness, completeness or accuracy of the information at any particular time. All information available via the Site is subject to change without notice.
    
    In addition, certain information at this Site belongs to parties other than the Provider. The Provider does not claim authorship of such information and duly acknowledges the copyright of other parties where applicable. The Provider shall not be liable if you rely on any information obtained via the Site.
    
    
18. The information provided at this Site constitutes the provision of "general financial product advice" within the meaning given to that term by the Corporations Act 2001 by the Provider, and that to the extent that such information is deemed "general financial product advice" within the provisions of the Corporations Act 2001, you agree that:
    1. in preparing the "general financial product advice", the Provider did not take into account the particular goals and objectives, anticipated resources, current situation or attitudes of any particular person; and
    2. before making any investment decisions on the basis of that "general financial product advice", any investor or prospective investor needs to consider, with or without the assistance of an investment advisor, whether the advice is appropriate in the light of the particular goals and objectives, anticipated resources, current situation or attitudes of the investor or prospective investor.
    
    
    
19. By activating any hypertext links at this Site you may leave this Site and go to other web sites that are not under the control of the Provider. The Provider does not accept any responsibility or liability in respect of material contained in other web sites. The terms and conditions that apply to other web sites may be different from these and those terms and conditions will govern the use of information you access or obtain from those sites.
    
    
20. The content of the Site has been prepared for residents of Australia. If you are resident in any other country you will need to check whether you are entitled to access the Site. The Provider does not accept any liability arising from you accessing and using the Site outside Australia. All currency references are shown in Australian dollars unless otherwise specified.
    
    
21. The Provider uses reasonable efforts to maintain the Site and all associated data with technical, administrative and physical safeguards to protect against loss, unauthorised access, destruction, misuse, modification and improper disclosure. You acknowledge no computer system or information can ever be fully protected against every possible hazard and the Provider shall not be liable for any loss occasioned by unauthorised access, destruction, misuse or improper disclosure of content at the Site.
    
    
22. You agree to take all necessary precautions to prevent the introduction or spread of any software contamination, including viruses and the like into the Site when accessing, providing or downloading information via this Site.
    
    
23. Except to the extent required by law, the Provider and its related companies make no representations or warranties, express or implied that the Site is fault free or as to the continuity, accessibility, reliability or efficiency of the Site prior to, during or after your acceptance of these Terms and Conditions, or the suitability of the content at the Site to your needs and will accept no responsibility arising in any way (including for negligence) for errors in, and omissions or otherwise for any loss or damage of any kind at all (including consequential loss) arising directly or indirectly out of the provision or use of, or inability to use the content at the Site or the Site. You enter into this Agreement at your own risk and solely in reliance on your own judgment and not upon any warranty or representation made by the Provider, any related company of the Provider.
    
    
24. The Provider will not be liable if you breach these Terms and Conditions or your use of the Site causes loss, damage or injury to any other person or entity. You agree to indemnify the Provider and/or any related company from and against all such loss, damage, injury and expenses, (including legal expenses on a full indemnity basis).
    
    
25. If any provision of these Terms and Conditions is unlawful, void or unenforceable for any reason, then if the provision would not be illegal or unenforceable if a word or words were omitted, that word or those words are severed or in any other case the provision is severed and the rest of these Terms and Conditions will continue to be legal and enforceable.
    
    
26. Except where otherwise stated, the copyright and intellectual property rights relating to the content of this Site belong to and remain the property of the Provider. The granting of access to the Site by the Provider does not create or imply a license or permit you to reproduce, download, transmit and/or distribute this content in any form or by any means other than as permitted under these Terms and Conditions, unless authorised by the written consent of the Provider.
    
    
27. The performance of the investments contained on this Site are not guaranteed by the Provider, any of its related companies or the relevant fund managers. The investments are subject to the rise and fall of the market. Past performance is not indicative of future performance.
    
    
28. Content at the Site may contain general information about the Provider's goods and services. This information does not constitute an offer or inducement to enter into a legally binding contract.

By accessing and using this Site you agree to this Agreement.