The following are Money Manager Review's ("MMR") terms and conditions for use of all Money Manager Review services, including without limitation subscription services, consulting services and manager tracking services (individually and collectively referred to as the "Service"). Please read them carefully. The Service is provided to persons who are at least 18 years old. YOUR USE OF THE SERVICE CONSTITUTES ACCEPTANCE OF THE TOS. The Service is conditioned on your acceptance without modification of the terms, conditions, and notices contained herein.

1. SUBSCRIBER ACCOUNTS, PASSWORDS, AND SECURITY

Persons or entities wishing to subscribe to MMR's online database must:

1. provide us with current, complete and accurate information as prompted by the Subscription Form;
2. specify the duration of the subscription, the number of persons who will use the subscription, and the nature of the use (ie whether the subscriber or subscribers are acting in the capacity of individual investor, institution, professional broker/consultant, money manager, or other entity);
3. read, acknowledge and agree to the TOS; and
4. complete the subscription process by submitting payment.

Once payment has been received, each subscriber will be assigned a password and an account, accessible via the World Wide Web (the "Web"). An account is activated on the day that its corresponding password is issued. Counting forward from the activation date, the account will expire at the end of the term contracted for, unless the account is renewed, canceled or terminated prior to expiration. Each subscriber is entirely responsible for:

1. providing for his or her own access to the Web as outlined below;
2. maintaining the confidentiality of his/her password and account;
3. ensuring that the password and account are used only by the person or persons specified in the Subscription Form and only for the type of use contracted for; and
4. any and all activities that occur under the account.

Subscribers agree to notify MMR immediately of any unauthorized use of their accounts or any other breach of security.

2. MANAGER TRACKING

To be included in MMR's investment manager database ("tracked by MMR"), a money manager must first:

1. attest to being registered in accordance with the Investment Advisors Act of 1940, as amended;
2. present a performance track record of at least one year; and
3. send MMR a complete marketing package, including a Form ADV.

When the manager's materials are received and reviewed, the manager will be issued an account and password. To complete the tracking process, the manager must then log in and provide us with current, complete, truthful and accurate information as prompted by all Manager and Product Registration Forms. The manager must also log in from time to time as prompted by MMR to submit new information and correct existing information. A manager's request to be tracked by MMR constitutes that manager's consent to allow MMR to publish, disseminate, analyze, sell access to, and/or otherwise commercially use all information submitted by the manager as MMR sees fit.

You acknowledge and agree that MMR is in no way responsible for determining whether any persons and/or entities requesting to be tracked by MMR are in fact registered investment advisors and/or persons qualified and authorized to act on behalf of any particular registered investment advisor. You acknowledge and agree that MMR does not independently verify or check performance numbers. You understand the antifraud provisions of the Uniform Securities Act and the Investment Advisers Act of 1940, as amended. All manager submissions are subject to MMR's editorial approval and MMR reserves the right to edit, refuse to post, and/or remove any information or materials, in whole or in part, that, in its sole discretion, are unacceptable, undesirable, inappropriate or in violation of the TOS. MMR may refuse to track any manager, and/or terminate any tracked manager's account or accounts, without notice, for any reason whatsoever.

3. USER CONDUCT

As a condition of your use of the Service, you agree that you will not use the Service in any way that is unlawful or prohibited by these terms, conditions, and notices. Any unauthorized commercial use of the Service, or the resale of its services, is expressly prohibited. You agree to abide by all applicable local, state, national and international laws and regulations and are solely responsible for all acts or omissions that occur under your account or password. By way of example, and not as a limitation, you agree not to:

1. Use the Service in connection with junk e-mail, spamming or any duplicative or unsolicited messages (commercial or otherwise), solicitations, or investment opportunities or schemes;
2. Interfere with another individual's or entity's use of the Service;
3. Use the Service in any way that is unlawful, fraudulent, defamatory, libelous, harassing, abusive, obscene, threatening, or otherwise objectionable;
4. Post, publish, reproduce, distribute, or in any way exploit any aspect of the Service for commercial purposes (other than as expressly permitted by MMR);
5. Interfere with or disrupt networks connected to the Service or violate the regulations, policies or procedures of such networks;
6. Attempt to gain unauthorized access to the Service, other accounts, computer systems or networks connected to the Service, through password mining or any other means;
7. Violate any applicable laws or regulations.

Tracked managers specifically acknowledge and agree that they will not misreport, exaggerate, or otherwise misrepresent performance figures or any other information in connection with the Service. MMR has no obligation to monitor the Service or any user's use thereof or retain the content of any user session. However, MMR reserves the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, legal process or governmental request.

4. TERMINATION AND CANCELLATION

Users wishing to cancel their accounts should notify MMR. One-month subscriptions are not refundable. When a prepaid subscription of one-year or longer duration is cancelled, MMR will charge the monthly rate for subscription services already provided and refund the remainder, if any. MMR reserves the right to terminate any subscriber's or manager's access to any part or all of the Service at any time, with or without cause or notice, effective immediately, for any reason whatsoever, including but not limited to the unauthorized use of your account(s) and/or password(s) or violation of the TOS. In the event of such a termination, MMR shall have no liability to you, provided, however, that if a subscription is terminated without cause MMR will refund the pro rata portion of subscription fees paid and not used. MMR shall have no obligation to maintain any content associated with a terminated or expired account.

5. REPRESENTATION OF CONTENT

The performance data, news, biographies, research, and any other information accessible via the Service (the "Information") has been obtained from sources believed to be reliable, and it is our policy to strive for the greatest possible accuracy, but MMR cannot and does not guarantee completeness or accuracy. You specifically acknowledge and agree that MMR relies on the self-reporting of investment managers themselves, that MMR has not independently verified performance numbers, and that MMR has not performed due diligence on tracked managers. You specifically acknowledge and agree that MMR makes no claims to accuracy on the part of either the managers or MMR; that there may be delays, omissions or inaccuracies in the Information; and that the Information may become unreliable because of subsequent market or economic circumstances. Before committing funds with any manager, investors should always conduct a careful background check. MMR has been prepared solely for informative purposes, and does not constitute a recommendation for any investment advisors or their services. It does not purport to be a complete description of investment advisers' performance, investment advisers' services or investment advisers' descriptions referred to. Any and all expressions of opinion are subject to change without notice.

MMR cannot and does not in any way warrant or represent that use of the investment advisers herein will have any effect on investment performance. You acknowledge and agree that you are responsible for determining the nature, potential value and suitability for yourself of any particular investment or investment strategy, and that your investments are at your sole risk. You acknowledge and agree that past performance is not a guarantee of future results. Neither the Service nor the Information constitutes a solicitation or an offer to sell securities or advisory services. Such an offer an only be made in states where a manager is registered. Neither the Service nor any of the Information is intended as legal or tax advice.

6. DATA TRANSMISSION

All users of the Service are entirely responsible for providing for their own access to the Web, paying any service fees associated with such access and providing all equipment and software (including a computer, modem and browser) necessary to achieve a connection to the Web. MMR takes reasonable and appropriate measures, including data encryption, to ensure that your personal information is not disclosed to any outside parties. However, the Web is an open system and MMR cannot and does not guarantee that the personal information entered by users of the Service will not be intercepted by others and decrypted.

7. DATA STORAGE LIMITATIONS

The amount of data storage space per user is currently unlimited. However, MMR reserves the right to limit subscriber and/or manager storage space at any time without notice. You agree that MMR is not responsible or liable for the deletion or failure to store specified Watch List managers, manager performance numbers or any other information.

8. PRIVACY
It is MMR's policy to respect the privacy of all users of the Service. MMR will not monitor, edit, or disclose any personal information about subscribers or their use of the Service, including its contents, to any outside parties without prior permission unless MMR has a good faith belief that such action is necessary to:

1. conform to legal requirements or comply with legal process;
2. protect and defend the rights or property of MMR;
3. enforce the TOS; or
4. act to protect the interests of its subscribers or others.

MMR does provide certain user information in aggregate form to third parties, including its advertisers, for demographic purposes, or provide services related to management consulting or investment management alternatives.
In addition, MMR collects Internet Protocol addresses and uses cookies for account authorization and other purposes. For more information, see MMR's Privacy Policy. The personal information you provide to MMR may be stored outside of the country in which you reside. You agree that MMR may access your account, including its contents, as stated above or to respond to service or technical issues.

Privacy Policy
MMR is committed to respecting your privacy. Our privacy policy is listed below. Please check back periodically, since the policy may be revised from time to time.

1) Subscribers' personal information
MMR collects personal information from subscribers. This information is used to process payments, to provide user-appropriate services (since certain features are designed specifically for individuals, institutions or brokers), and to contact subscribers when necessary.

Subscriber information is held in strict confidence. Subscribers' personal particulars are never sold to outside parties. Personal information is not released to outside parties except under extraordinary circumstances, such as when MMR believes in good faith that the law requires it.

Any time we ask for a credit card number, we transmit that credit card number in an encrypted format, using industry-standard, Secure Socket Layer encryption. Other, extensive security measures are in place to protect against the loss, alteration, or misuse of subscriber information.

MMR may report aggregate subscriber information to advertisers. In such cases, advertisers are never granted access to individual account information. Also, from time to time, MMR or its associates may notify subscribers of new products or services which may be of interest to them or, to notify subscribers relating services related to management consulting or investment management alternatives.

3) Other user information

When you visit MMR's Web site and submit any of our online forms, personal information is gathered about you. Also, if you contact MMR, we may keep a record of that correspondence. Personal information gathered in this way is not released or sold to outside parties. However, from time to time, MMR or its associates may use this information to notify you of products or services which may be of interest to you. Any such notifications will always include contact information that you can use to:
" request not to receive future communications, or to change and modify information previously provided.

If you wish not to be contacted by MMR or its associates, please email us at mmraminvest@yahoo.com and type REMOVE at the subject heading of the email.

9. LINKS TO THIRD PARTY SITES

THE LINKS INCLUDED WITHIN THE SERVICE MAY LET YOU LEAVE THE SERVICE FOR OTHER WEB SITES ("LINKED SITES"). THE LINKED SITES ARE NOT UNDER THE CONTROL OF MMR AND MMR IS NOT RESPONSIBLE FOR THE CONTENTS OF ANY LINKED SITE OR ANY LINK CONTAINED IN A LINKED SITE, OR ANY CHANGES OR UPDATES TO SUCH SITES. MMR IS NOT RESPONSIBLE FOR WEBCASTING OR ANY OTHER FORM OF TRANSMISSION RECEIVED FROM ANY LINKED SITE. MMR IS PROVIDING THESE LINKS TO YOU ONLY AS A CONVENIENCE, AND THE INCLUSION OF ANY LINK DOES NOT IMPLY ENDORSEMENT BY MMR OF THE SITE OR ANY ASSOCIATION WITH THEIR OPERATORS.

10. PARTICIPATION IN PROMOTIONS OF ADVERTISERS

Any dealings with advertisers on the Service or participation in promotions, including the delivery of and the payment for goods and services, and any other terms, conditions, warranties or representations associated with such dealings or promotions, are solely between you and the advertiser or other third party. MMR shall not be responsible or liable for any part of any such dealings or promotions.

11. LIMITATIONS OF LIABILITY

MMR AND/OR ITS RESPECTIVE EMPLOYEES, AGENTS, SUCCESSORS, ASSIGNS, AFFILIATES, OR CONTENT OR SERVICE PROVIDERS MAKE NO REPRESENTATIONS ABOUT THE SUITABILITY, RELIABILITY, AVAILABILITY, TIMELINESS, AND ACCURACY OF THE SERVICE FOR ANY PURPOSE. MMR DOES NOT REPRESENT OR WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED OR ERROR-FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE SERVICE OR THE SERVER THAT MAKES IT AVAILABLE, ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. THE SERVICE IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND. MMR AND/OR ITS RESPECTIVE EMPLOYEES, AGENTS, SUCCESSORS, ASSIGNS, AFFILIATES, OR CONTENT OR SERVICE PROVIDERS HEREBY DISCLAIM ALL WARRANTIES AND CONDITIONS WITH REGARD TO THE SERVICE, INCLUDING ALL IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT. MMR IS IN NO WAY WHATSOEVER RESPONSIBLE FOR ANY LOSS OR LIABILITY INCURRED IN CONNECTION WITH INVESTMENTS MADE OR OTHER ACTION(S) TAKEN OR NOT TAKEN BY USERS OF THE SERVICE AND/OR ASSOCIATED PARTIES. IN NO EVENT SHALL MMR AND/OR ANY OF ITS EMPLOYEES, AGENTS, SUCCESSORS, ASSIGNS, AFFILIATES, OR CONTENT OR SERVICE PROVIDERS BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL DAMAGES OR ANY DAMAGES WHATSOEVER INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF USE, DATA OR PROFITS, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OR PERFORMANCE OF THE SERVICE OR RELATED WEB SITES, WITH THE DELAY OR INABILITY TO USE THE SERVICE OR RELATED WEB SITES, THE PROVISION OF OR FAILURE TO PROVIDE SERVICES, OR FOR ANY INFORMATION, PRODUCTS, SERVICES AND RELATED GRAPHICS OBTAINED THROUGH THE SERVICE, OR OTHERWISE ARISING OUT OF THE USE OF THE SERVICE, WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE, EVEN IF MMR OR ANY OF ITS SUPPLIERS HAS BEEN ADVISED OF THE POSSIBILITY OF DAMAGES.

Because some states do not allow the exclusion or limitation of liability for consequential or incidental damages, the above limitation may not apply to you. In such states, the respective liability of MMR and/or its employees, agents, successors, assigns, affiliates, and content or service providers, is limited to the greatest extent permitted by such state law. By using the Service, including and applets, software, and content contained therein, you agree that use of the Service is entirely at your own risk. You specifically agree that MMR shall not be responsible for unauthorized access to or alteration of your transmissions or data, any material or data sent or received or not sent or received, or any transactions entered into through the Service. You specifically agree that MMR is not responsible for any content sent using and/or included in the Service by any third party. MMR and/or its respective employees, agents, successors, assigns, affiliates, or content or service providers may make improvements and/or changes in the Service at any time.

12. INDEMNIFICATION

You agree to indemnify and hold MMR, its parents, subsidiaries, affiliates, officers and employees, harmless from any claim, demand, or damage, including reasonable attorneys' fees, asserted by any third party due to or arising out of your use of or conduct on the Service.

13. PROPRIETARY RIGHTS TO CONTENT

You acknowledge that content, including but not limited to text, software, music, sound, photographs, video, graphics or other material contained in either sponsor advertisements or electronically distributed, commercially produced information presented to you by the Service, by MMR, or MMR's Advertisers or other content providers, is protected by copyrights, trademarks, service marks, patents or other proprietary rights and laws. You may use a desktop printer or photocopier to make copies of this content subject to all terms and conditions outlined in MMR's Reprints policy, including the provision that you keep all copyright and other proprietary notices intact. You may not modify, copy, reproduce, republish, upload, post, transmit, or distribute in any way content available through the Service and its associated Web sites, including code and software, without MMR's express permission.

Please feel free to make links pointing to MMR's non-subscription Web pages. However, the contents of MMR are confidential and proprietary and may not be used, revealed, reproduced, mirrored, referred to, in whole or in combination with any other service, in any manner, shape or form in any written or other communication with any third party or by making MMR data of any portion thereof available to any third party, without the express written consent of MMR. All contents of the Service are: Copyright © 1999 Money Manager Review, 12620 DuPont Road Sebastopol, CA 95472. All rights reserved. "Money Manager Review", "MoneyManagerReview.com", and/or other MMR products and services referenced herein are either trademarks or registered trademarks of MMR. The MMR logo shows a detail of the Supreme Court building. It appears courtesy of Bulent Atalay (1982) and is trademarked by MMR. The names of actual companies and products mentioned herein may be the trademarks of their respective owners. The sample companies, organizations, products, people and events depicted by the Service are fictitious. No association with any real company, organization, product, person, or event is intended or should be inferred.

14. MODIFICATIONS TO TERMS OF SERVICE AND/OR POLICIES

MMR reserves the right to change the TOS or policies regarding the use of the Service at any time and to notify you by posting an updated version of the TOS on this Web site. You are responsible for regularly reviewing the TOS. Continued use of the Service after any such changes shall constitute your consent to such changes.

15. Additional Disclosure

Money Manager Review (MMR) has a solicitor’s agreement with Smith Barney (SB) . This agreement provides for the referral of our customers and contacts to SB in exchange for a referral fee. In no event does the fee shared between SB and MMR affect the cost of any services provided by MMR and or SB to the customer.

MMR also maintains an independent investment advisory relationship with Charles Schwab (CS) and Co. This relationship takes advantage of CS’s competitive brokerage rates and accounting and trading services. In every instance, MMR explains in detail the various services provided by SB and or CS. The client makes the final determination as to which financial institutions they wish to domicile their accounts.

The prospective client may direct MMR not to provide SB and/or CS with any information prior to the client entering into any relationship with MMR.

For Texas residents, investment advisory services are offered by the company’s legal name Peter Crawford Walker. MMR’s investment advisory services are not available to Pennsylvania residents. MMR’s investment advisory services are not available to Pennsylvania residents.

16. LANGUAGE

It is the express will of the parties that this agreement and all related documents have been drawn up in English.

17. GENERAL

This agreement is governed by the laws of the State of California, and the United States of America. Use of the Service 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 MMR as a result of this agreement or use of the Service. MMR's performance of this agreement is subject to existing laws and legal process, and nothing contained in this agreement is in derogation of MMR's right to comply with governmental, court and law enforcement requests or requirements relating to your use of the Service or information provided to or gathered by MMR with respect to such use. 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. The failure of MMR to exercise or enforce any right or provision of the TOS shall not constitute a waiver of such right or provision. The section titles in the TOS are solely used for the convenience of the parties and have no legal or contractual significance.

Unless otherwise specified herein, this agreement constitutes the entire agreement between the user and MMR with respect to the Service (excluding the use of any software which may be subject to an end-user license agreement) and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral or written, between the user and MMR with respect to the Service. 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. You agree that, when in the future you click on an "I agree," "I consent" or other similarly worded "button" or entry field with your mouse, keystroke or other computer device, your agreement or consent will be legally binding and enforceable and the legal equivalent of your handwritten signature. You and MMR agree that any cause of action arising out of or related to this Service must commence within one (1) year after the cause of action arose; otherwise, such cause of action is permanently barred.

Any rights not expressly granted herein are reserved.