WEB SITE TERMS OF USE
Agreement between user and PHP Technologies GmbH. This Web site is offered to you, the user, conditioned on your acceptance without modification of the terms, conditions, and notices contained herein. Your use of this Web site constitutes your agreement to all such terms, conditions, and notices.

PERSONAL AND NON-COMMERCIAL USE LIMITATION
This Web site is for your personal and non-commercial use. You may not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information, software, products or services obtained from this Web site. Use of this Web site may not interfere with the usage of other users of this Web site or hinder them in any way. The installation of one or more hyperlinks from other Web sites to one or more pages of this Web site or it's content is without prior written agreement by PHP Technologies GmbH forbidden. No part of this Web site or it's content may be linked or displayed in a frame. Hyperlinks to the entrance of the CoveredCalls.de Web Site are allowed.

COPYRIGHT AND TRADEMARK NOTICES:
All contents of this Web site are: Copyright (c) 2005 PHP Technologies GmbH and/or its suppliers, 82194 Gröbenzell, Germany. All rights reserved. This copyright includes but is not limited to layout, HTML, source code, software and the published information. CoveredCalls.de and other names of PHP Technologies GmbH products and/or services referenced herein are trademarks or registered trademarks of PHP Technologies GmbH. Other product and company names mentioned herein may be the trademarks of their respective owners.

LIABILITY DISCLAIMER
The information, software, products, and services published on this Web site may include inaccuracies or typographical errors. changes are periodically added to the information herein. PHP Technologies GmbH and/or its respective suppliers may make improvements and/or changes in this Web site at any time. This Web site may be temporarily unavailable from time to time due to required maintenance, telecommunications interruptions, or other
disruptions . the user has no claim on daily updated content of the Web site. PHP Technologies GmbH and/or its respective suppliers make no representations about the suitability of the information, software, products, and services contained on this Web site for any purpose. all such information, software, products, and services are provided "as is" without warranty of any kind. PHP Technologies GmbH and/or its respective suppliers hereby disclaim all warranties and conditions with regard to this information, software,
products , and services, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title, non-infringement, and availability. In no event shall PHP Technologies GmbH and/or its suppliers be
liable for any direct, indirect, punitive, incidental, special or consequential damages arising out of or in any way connected with the use of this Web site or with the delay or inability to use this Web site, or for any information, software, products, and services obtained through this Web site, or otherwise arising out of the use of this Web site, whether based on contract, tort, strict liability or otherwise, even if PHP Technologies GmbHor any of its suppliers has been advised of the possibility of damages. because some states/jurisdictions do not allow the exclusion or limitation of liability for consequential or incidental damages, the above limitation may not apply to you. PHP Technologies GmbH, it's executives, representatives and employees are not, nor do they claim to be registered investment advisers or broker/dealers. The user of Web sites published by PHP Technologies GmbH assume full responsibility to carefully research the companies profiled before making a decision to invest in such companies. Data and information is provided for informational purposes only; and is not intended for trading purposes. Under no circumstances shall neither PHP Technologies GmbH nor any memeber of PHP Technologies GmbH be held liable for any profits and losses incurred by any individual or individuals as a result of any individual or individuals decision to invest in any company profiled by PHP Technologies GmbH. Further, PHP Technologies GmbH is not in any way responsible or to be held liable for any profits or losses resulting from acting on the signals generated by the trading systems or any other form of recommendation. Using and viewing this Web site and using and viewing trading systems on this Web site shall under no circumstances create an offer to buy or sell stock in any company profiled. Before investing in any stocks, including those profiled by PHP Technologies GmbH, the user agrees to contact a qualified financial planner. The user should, at no time, rely solely on the information contained in web sites published by PHP Technologies GmbH and is urged to research presented and profiled companies on his own and make his own investment decisions. Past performance of the presented trading systems and other services offered by PHP Technologies GmbH are not indicative of future results. PHP Technologies GmbH may make use of any public information, including, but not limited to, company issued press releases, sec filings, brokerage reports, magazines, newspapers and electronic databases on the web. PHP Technologies GmbH attempts to verify the accuracy of the information contained in said resources, but does notrepresent or warrant the accuracy contained in these resources. Factual statements on Web sites published by PHP Technologies GmbH. PHP Technologies GmbH and it's executives reserve the right to buy or sell its position in any company it profiles or generates trading systems for at any time. The Web site published by PHP Technologies GmbH and it's base technology are no high security systems and through the connection with the internet PHP Technologies GmbH can not guarantee or be held liable for intercepting or logging of transmited data to and from PHP Technologies GmbH by a third party.

TRADING ONLINE WITH BROKERAGE AND MUTUAL FUND FIRMS
The online trading services which you may access through the links contained on this Web site are services of the listed independent brokerage and mutual fund companies. In order to use these services, you need to have an existing account with such company, or you will need to set an account up, which you may do after linking to the company's Web site. PHP Technologies GmbH provides links to selected companies for your convenience only. PHP Technologies GmbH is not a registered broker-dealer or mutual fund company, and does not endorse or recommend the services of any brokerage or mutual fund company. The brokerage or mutual fund company you select is solely responsible for its services to you, and you agree that PHP Technologies GmbH shall not be liable for any damages or costs of any type arising out of or in any way connected with your use of such services.

SUBSCRIPTION BASED CONTENT
Some contents and/or services on this Web site may be offered to you conditioned on your payment of subscription fees. If you elect to purchase subscription based content/services and transmit to PHP Technologies GmbH a subscription purchase request, you warrant that all information that you submit is true and accurate (including without limitation your credit card number and expiration date), and you agree to pay all subscription fees you incur. Like all Web publications, CoveredCalls.de may be temporarily unavailable from time to time due to required maintenance, telecommunications interruptions, or other disruptions. Although PHP Technologies GmbH makes
every reasonable effort to minimize such downtime, PHP Technologies GmbH does not guarantee 100 % availability of this Web site. If you wish to cancel your subscription for any reason, you may do so by sending e-mail to PHP Technologies GmbH, but there are no refunds of subscription fees previously paid. Your subscription is personal to you and the members of your household, and you may not transfer or make available your account name and password to others, including without limitation your co-workers. Any distribution by you of your account name and password may result in cancellation of your subscription without refund and additional charges based on unauthorized use.

NO UNLAWFUL OR PROHIBITED USE
As a condition of your use of this Web site, you warrant to PHP Technologies GmbH that you will not use this Web site for any purpose that is unlawful or prohibited by these terms, conditions, and notices.

LINKS TO THIRD PARTY SITES
This Web site may contain hyperlinks to Web sites operated by parties other than PHP Technologies GmbH. Such hyperlinks are provided for your reference only. PHP Technologies GmbH does not control such Web sites, and is not responsible for their contents. PHP Technologies GmbH's inclusion of hyperlinks to such Web sites does not imply any endorsement of the material on such Web sites or any association with their operators.

SERVICE CONTACT
Please see our Contact pages in help for questions or problems with this Web site.

MODIFICATION OF THESE TERMS AND CONDITIONS
PHP Technologies GmbH reserves the right to change the terms, conditions, and notices under which this Web site is offered.

GENERAL
This agreement is governed by the laws of the Federal Republic of Germany. You hereby consent to the exclusive jurisdiction and venue of courts in Munich, Germany. in all disputes arising out of or relating to the use of this Web site. Use of this Web site is unauthorized in any jurisdiction that does not give effect to all provisions of these terms and conditions, including without limitation this paragraph. You agree that no joint venture, partnership, employment, or agency relationship exists between you and PHP Technologies GmbH as a result of this agreement or use of this Web site.PHP Technologies GmbH's performance of this agreement is subject to existing laws and legal process, and nothing contained in this agreement is in derogation of PHP Technologies GmbH's right to comply with law enforcement
requests or requirements relating to your use of this Web site or information provided to or gathered by PHP Technologies GmbH with respect to such use. PHP Technologies GmbH reserves the right, to use a third party to meet it's duties of this agreement. If any part of this agreement is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and liability limitations set forth above, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision and the remainder of the agreement shall continue in effect. This agreement constitutes the entire agreement between the user and PHP Technologies GmbH with respect to this Web site and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral or written, between the user and PHP Technologies GmbH with respect to this Web site. A printed version of this agreement and of any notice given in electronic form shall be admissible in judicial or administrative proceedings based upon or relating to this agreement to the same extent and subject to the same conditions as other business documents and records originally generated and maintained in printed form. Fictitious names of companies, products, people, characters and/or data mentioned herein are not intended to
represent any real individual, company, product or event. Any rights not expressly granted herein are reserved.

USE OF BULLETIN BOARD, CHAT ROOMS, AND OTHER COMMUNICATIONS FORUMS
If this Web site contains bulletin boards, chat rooms, or other message or communication facilities (collectively, "Forums"), you agree to use the Forums only to send and receive messages and material that are proper and related to the particular Forum. By way of example, and not as a limitation, you agree that when using a Forum, you shall not do any of the following:
- Defame, abuse, harass, stalk, threaten or otherwise violate the legal rights (such as rights of privacy and publicity) of others.
- Publish, post, distribute or disseminate any defamatory, infringing, obscene, indecent or unlawful material or information.
- Upload files that contain software or other material protected by intellectual property laws (or by rights of privacy of publicity) unless you own or control the rights thereto or have received all necessary consents.
- Upload files that contain viruses, corrupted files, or any other similar software or programs that may damage the operation of another's computer.
- Advertise or offer to sell any goods or services, or conduct or forward surveys, contests, or chain letters.
- Download any file posted by another user of a Forum that you know, or reasonably should know, cannot be legally distributed in such manner.
You acknowledge that all Forums are public and not private communications.

Further, you acknowledge that chats, postings, conferences, and other communications by other users are not endorsed by PHP Technologies GmbH, and such communications shall not be considered reviewed, screened, or approved by PHP Technologies GmbH. PHP Technologies GmbH reserves the right for any reason to remove without notice any contents of the Forums received from users, including without limitation bulletin board postings. PHP Technologies GmbH reserves the right to deny in its sole discretion any user access to this Web site or any portion thereof without notice.

SOFTWARE AVAILABLE ON THIS WEB SITE
Software (if any) that is made available to download from this Web site (" Software") is the copyrighted work of PHP Technologies GmbH and/or its suppliers. Your use of the Software is governed by the terms of the end user license agreement, if any, which accompanies or is included with the Software ("License Agreement"). You may not install or use any Software that is accompanied by or includes a License Agreement unless you first agree to the License Agreement terms. For any Software not accompanied by a license agreement, PHP technologies GmbH hereby grants to you, the user, a personal, non-transferable license to use the Software for viewing and otherwise using this Web site in accordance with these terms and conditions, and for no other purpose. Please note that all Software, including without limitation all HTML code and Active X controls contained in this Web site, is owned by PHP Technologies GmbH and/or its suppliers and is protected by copyright laws and international treaty provisions. Any reproduction or redistribution of the Software is expressly prohibited by law, and may result in severe civil and criminal penalties. Violators will be prosecuted to the maximum extent possible.

Without limiting the foregoing, copying or reproducution of the software to any other server or location for further reproduction or redistribution is expressly prohibited. The software is warranted, if at all, only according to the terms of the license agreement.

You acknowledge that the Software, and any accompanying documentation and/or technical information, is subject to applicable export control laws and regulations of the Federal Republic of Germany. You agree not export or re-export the Software, directly or indirectly, to any countries that are subject to german export restrictions.