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No Offer, No Solicitation of an Offer to BuyThe following information is for the private information of the user and is not to be construed as an offer to sell or solicitation to buy any security of Goldman Sachs International (and its affiliates, "Goldman Sachs"). Investors may not purchase or sell the securities described on this web-page from Goldman Sachs directly but only via their own broker.

Important Notice
The securities mentioned on this web-page are not being offered, and will not be sold, within the United States or to, or for the account or benefit of, any U.S. person. The term U.S. person shall have the meaning as defined in Regulation S under the United States Securities Act of 1933 and includes, among other things, U.S. residents and U.S. corporations and partnerships.

Goldman Sachs International
Peterborough Court
133 Fleet Street
London EC4A 2BB

Conditions of Use

Authorised Users
This web-page of Goldman Sachs International is only for use by persons domiciled in the United Kingdom of Great Britain and Northern Ireland ("User" or "You"). The User undertakes to cease accessing this web-page should he in the future no longer be domiciled in this country.

No Offer, No Solicitation of an Offer to Buy
The following information is for the private information of the user and is not to be construed as an offer to sell or solicitation to buy any security of Goldman Sachs International (and its affiliates, "Goldman Sachs"). Investors may not purchase or sell the securities described on this web-page from Goldman Sachs directly but only via their own broker.

No Information Agreement, No Advice, Hotline, Complaints
The use of this web-page does not create a contractual relationship with Goldman Sachs beyond these conditions of use. The information displayed on this web-page is not to be construed as an offer by Goldman Sachs International to enter into any contractual information agreement. Therefore, no information agreement between Goldman Sachs International and the User shall be concluded by visiting this web-page or accessing information contained thereon.
Neither the information on this web-page, nor information which You receive via the "Hotline" constitutes investment, tax or other advice. It does not take into account the particular situation of the User in respect of his investment aims and risk propensity. It does not replace advice by Your broker or any other tax or financial advisor which is necessary prior to each individual purchase decision. Complaints of the User concerning this web-page must be made in writing and directed to our Compliance department at the postal address stated in "Contact".

No Financial Analysis
The information stated on this web-page does not represent "Investment Research or Financial Analysis" within the meaning of the Council Directive 2004/39/EC (the Markets in Financial Instruments Directive) and may deviate from the analyses of financial instruments and their issuers (research) published by Goldman Sachs.

Risks
The purchase of securities is linked to financial risks. In the case of an unfavourable development of the underlying of a certain product, a total loss of the invested capital may occur.

Price Information
The price information contained on this web-page is in general based on SIX Financial Information or Reuters but may also be calculated by Goldman Sachs itself. Prices of the securities or underlyings may be shown time delayed due to the regulations of the respective exchanges or the respective provider of financial information. You may find other price information, in particular information about the historical performance of the underlying in the prospectus of the respective security (see "Prospectus") as indicated. Historical performances are not a reliable indicator for the future performance of the underlying or the securities. Goldman Sachs does not assume responsibility for the accuracy of any price information and price information may be corrected at any time (also see "Exclusion of Warranty").

Prospectus
Users who consider the purchase of securities described on this web-page should, in consideration of the features of the securities and the risks which are linked to such securities, prior to a purchase of the securities, read the legally binding Final Terms which complement the base prospectus, as updated by supplements, if any, (collectively the "Prospectus"). A copy of the Prospectus is available free of charge at Goldman Sachs International, Peterborough Court, 133 Fleet Street, London EC4A 2BB. It is also possible to download the Prospectuses relating to the securities from this web-page.

Exclusion of Warranty
Neither the provision nor the content of this web-page or other "Hotline" services create any obligations of Goldman Sachs towards the Users. Although this material is based upon information that Goldman Sachs International considers reliable and endeavours to keep up-to-date, neither Goldman Sachs International nor any of its affiliates makes any representations with regard to any information contained on this website. In particular, we do not make any representation as to

(a) the quality, accuracy, timeliness, continued availability or completeness of the data and services made available herein,
(b) the timeliness and correct information of the user that a certain threshold or barrier has been reached,
(c) the continuation of the provision of information or its updating in the future,
(d) the suitability of the securities for any particular investor,
(e) the appropriate accounting treatment or possible tax consequences of investing in the securities or
(f) the future performance of the securities.Investors should consult their own professional advisors.

Values or prices displayed on this web-page are not related to the size of a transaction, i.e. the size of a specific transaction may lead to deviating values or prices. Furthermore, they may not reflect actual prices or values that would be available in the market at the time that the user may want to purchase or sell a particular security or currency.

Conflict of Interest
Goldman Sachs International or any of its affiliates may, from time to time, for hedging purposes or otherwise, have long or short positions in, or buy and sell, securities, commodities, futures or options identical or related to those mentioned herein, and the potential implications of such activities on the value of the securities should be considered by investors.

Goldman Sachs may also act as the calculation agent or sponsor of underlyings and in this capacity may make determinations which affect the value of the securities. In accordance with the requirements of the FSA Rules, Goldman Sachs maintains a conflicts of interests policy on the management of any conflicts that may arise. Further details of this policy are available on request to the Compliance department.

Commission Payments by Goldman Sachs
Goldman Sachs may pay commission to distributors in connection with the distribution of securities. Such commission may affect the potential yield to the investor. Should commission payments be made, You will find information on the amount in the relevant Prospectus (also see "Prospectus").

Copyright
The content and the layout of this web-page, including the underlying software are protected by copyright. The (complete or partial) reproduction, transfer, modification, linking or use of this web-page for public or commercial purposes without Goldman Sachs' written consent is prohibited. Downloads and copies of such web pages may only be made for private, not commercial, use and may not be forwarded to third parties.

Selling Restrictions
The User undertakes to observe the enclosedselling restrictions.

Applicable Law
These conditions of use shall be governed by English law. The application of private international law shall be excluded.
Goldman Sachs International is registered in England and Wales (Company Number 02263951) and its registered office is at Peterborough Court, 133 Fleet Street, London EC4A 2BB.
Goldman Sachs International is authorised and regulated by the Financial Services Authority under number 142888.