Macquarie Contracts For Difference (CFDs)

Important Information
CFDs are highly leveraged and carry a high level of risk. Additionally, any profit or loss accruing to the investor will be adjusted to take into account certain fees and charges. Investors should not invest in CFDs unless they are experienced in equity derivatives and understand and are comfortable with the risks of investing in CFDs. Investors should read the Product Disclosure Statement for Macquarie CFDs, particularly "Risks You Should Consider", and obtain their own financial advice as to whether CFDs are an appropriate investment for them.

This website contains a brief description only of certain features of the Macquarie Trading Accounts and CFDs. Full details are set out in the Product Disclosure Statement ("CFD PDS") issued by Macquarie Bank Limited ABN 46 008 583 542 ("Macquarie"). This website has been prepared by Macquarie and does not take into account your' personal objectives, financial situation or needs. Before acting on this advice, you should consider its appropriateness based on your personal circumstances.and read the CFD PDS (click here), and the PDS for Macquarie Prime Cash Account and consider their content. To open a Trading Account, you must complete the application form included in or accompanying the CFD PDS.

You should note that, in certain very limited circumstances a Reference Security Price may not match the prices on the underlying exchange. Please see the PDS for full details.

Macquarie or its associates, officers or employees may have interests in CFDs or Reference Securities by acting in various roles and may receive fees, brokerage or commissions. Further, Macquarie or its associates, officers or employees may buy or sell the Reference Securities as principal or agent and may effect transactions which are not consistent with any recommendations above.

Investments in CFDs are subject to significant investment risk, including possible delays in repayment and loss of income and capital invested. None of Macquarie Bank Limited ("Macquarie") or any member of the Macquarie group of companies guarantees the performance, return of capital from or any particular rate of return of a CFD or Trading Account. Investment products are always subject to investment risk. Investors may lose more than the amount of funds in their Online Investor Account Account.

The distribution of the information in jurisdictions outside Australia may be restricted by law and persons into whose possession the information comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of an applicable jurisdiction.

Information current as at 28 May 2007 and subject to change without notice.