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This website ("the Taylor Collison Website") is published by Taylor Collison Limited (A.B.N. 53 008 172 450) ("Taylor Collison "), participant of ASX Group, a market participant of the Australian Stock Exchange Ltd and holder of Australian Financial Services Licence No 247083, in good faith based on the facts known to it at the time of preparation and does not purport to contain all relevant information in respect of the financial products to which it relates. Any projections are estimates only and may not be realised in the future.

This website and all content contained within it has been prepared solely for the purpose of information and analysis and is for the use of the recipient only. It does not constitute, nor is it intended to constitute, an offer or invitation to any person to buy or sell any interest or to deposit moneys with any person. Neither this document, nor its contents, is to be reproduced, transmitted, or made available to any person other than the recipient. The information on this website and related publications is given in good faith and has been obtained from published information and other sources believed to be reliable at the time of preparation.

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The information and opinions expressed on the linked websites are not necessarily prepared by Taylor Collison and do not represent the opinions of Taylor Collison.

None of Taylor Collison, its related companies , their associates nor any person involved in the preparation of this publication accepts any liability or responsibility whatsoever for the accuracy or completeness of this publication and none of them makes any representation or warranty in relation thereto. The Companies, each of their associates and every person involved in the preparation of this publication expressly disclaim all liability for any loss or damage of whatsoever kind (whether foreseeable or not) which may arise from any person acting on any statements contained in this publication notwithstanding any negligence, default or lack of care.

This publications or reports has been prepared without consideration of the particular investment objectives, financial situation and needs of recipients. In all cases recipients should conduct their own investigation and analysis of the information contained in this publication. No recipient should act on the basis of any matter contained in this publication without considering and, if necessary, taking appropriate legal, financial and other professional advice upon the recipient's own particular circumstances. Unless otherwise permitted by law in the applicable jurisdiction, only approved representatives of Taylor Collison will affect orders and transactions in securities and other product for customers in such jurisdiction. Should you consider the acquisition of a particular financial product as a result of the material contained, you should obtain a copy of and consider the Product Disclosure Statement for that product before making any decision. At various times Taylor Collison and its associates may hold interests in any securities mentioned in this publication. Brokerage may be earned by such companies or persons in respect of any business transacted in all or any securities discussed in the publication.

Analyst Indepdendence

Any research analyst who prepares a document within the Taylor Collison Website hereby certifies that the views expressed in that document accurately reflect the analyst's personal views about the subject company(s) and their Financial Products. The research analyst also certifies that the analyst has not been, is not, and will not be receiving direct or indirect compensation for expressing the specific recommendations or views in that report.

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© 2013 Taylor Collison Limited ACN 008 172 450
Participating Organisation of the Australian Securities Exchange Limited

No reproduction or copying of any material on our site, either in part or in full, via any medium whatsoever is permitted without the prior written permission of Taylor Collison Limited.

You may not reproduce in whole or in part the Works unless:

1. you obtain prior written permission from Taylor Collison Limited;
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Disclosure

Taylor Collison and its associates (as defined in Chapter 7 of the Corporations Law), officers, directors, employees and agents, from time to time, may hold securities in any of the companies to which this document refers and may trade in the securities mentioned either as principal or agent

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