KEYINVEST - IMPORTANT LEGAL INFORMATION

When you access this KeyInvest website of UBS AG ("KeyInvest Website") and retrieve information therefrom, including posted documents ("Materials") on the KeyInvest Website, you must agree to this "KEYINVEST - IMPORTANT LEGAL INFORMATION" which appears here and below (please scroll all the way to the bottom to see all this information) and you must also agree to the Disclaimer, Terms of Use, Privacy Statement, Fraudulent Mail andI Information on UBS ( all together called the "KeyInvest Website Terms"). Note: You can access the documents which form part of the KeyInvest Website Terms, by clicking on the hyperlinks above or by clicking on the document's title at the bottom of each page on the KeyInvest Website.

When you (i) tick the box confirming that you have read, understood and agree to the KEY-INVEST - IMPORTANT LEGAL INFORMATION and also the KeyInvest Website Terms, and you (ii) click on the "I confirm and agree" icon which is displayed to you, then the KEY-INVEST - IMPORTANT LEGAL INFORMATION and the KeyInvest Website Terms will become a legal contract between you and UBS AG.

In the event of a conflict or inconsistency between any of the KEY-INVEST - IMPORTANT LEGAL INFORMATION, or the KeyInvest Website Terms, and the Special Agreements, the Special Agreements will prevail to the extent of such conflict or inconsistencies.

Only for Residents of South Africa
The products and services described on the KeyInvest Website are only intended for residents of South Africa (and should not under any circumstances be accessed by US residents or persons) and may not be eligible or suitable for sale in all jurisdictions or to certain categories of investors. The products and services are not intended for persons subject to a jurisdiction that prohibits the publication of and the access to the KeyInvest Website (due to the nationality of the respective person or on any other grounds). Persons who are subject to such restrictions are prohibited from accessing the KeyInvest Website.

No Offer, Non-Binding Nature
The information and Materials available as well as the opinions expressed on the KeyInvest Website do not constitute an investment advice or recommendation, and shall not be construed as a solicitation or an offer for sale or purchase of any products, to effect any transactions or to conclude any legal act of any kind whatsoever. The information, Materials and opinions are only published for personal use and information purposes. Nothing therein is based upon the consideration of the particular needs, investment objectives and financial situation of any specific investor, nor are they a complete statement of the products, services, markets or developments. The products and services are not suitable for all investors, and trading in these products is considered risky. Unless specifically stated otherwise, all information, Materials as well as price information is indicative only. The Materials are based on information obtained from sources believed to be reliable but are not guaranteed as being accurate, exact, complete, appropriate or up to date. Any opinions may differ or be contrary to opinions expressed by other business areas or groups of UBS as a result of using different assumptions and criteria. The information and Materials should not be regarded by investors as a substitute for the exercise of their own judgement. The information on the KeyInvest Website shall not be construed as decision guidance for economic, financial, legal, regulatory, tax, accounting or any other issues. Investors should not make an investment decision or any other decision solely based on this information and Materials. Investors should consult qualified professionals in this regard. The information, Materials, opinions, products and services are subject to change without notice. No representation or warranty (either express or implied) is provided in relation to the accuracy, exactness, completeness, appropriateness, actuality or reliability of the information, Materials, opinions published on the KeyInvest Website. UBS is not under any obligation to update or keep current the information, Materials and opinions as well as to remove outdated information, Materials and opinions from the KeyInvest Website or to mark them as outdated.

Performance, Influences
Past performance is not necessarily indicative of future performance. The investment value of a product may increase or decline. Foreign currency rates of exchange may adversely affect the value, price or income of any products. Therefore, UBS cannot guarantee the maintenance (or the increase in value) of the invested capital. The issuer ratings indicated in product documentations reflect the situation at the time of issuance and may be subject to changes during the lifetime of the product.

Essential Interests
UBS and/or its directors, officers, employees and clients may have or have had interests or positions in the products described on the KeyInvest Website, and may at any time make purchases and/or sales in them as principal or agent. In addition, they may act or have acted as market-maker in these products. Furthermore, UBS and/or its directors, officers, employees and clients may have or have had a relationship with or may provide or have provided investment banking and/or other services to the relevant companies. Employees of UBS may serve or have served as officers, directors, board members and/or members of the board of directors of the relevant companies.

No Liability
To the fullest extent permitted by law, in no event shall UBS or any of its directors, employees or agents have any liability whatsoever to any person for any direct or indirect loss, liability, cost, claim, expense or damage of any kind, whether in contract or in tort, including negligence, or otherwise, arising out of or related to the access to or the use of the KeyInvest Website, the use of all or part of information and Materials, even if UBS has been advised of the possibility of the same.