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Bucharest Stock Exchange World Wide Web Site Terms and Conditions of Use

Usage in any way of the World Wide Website of the Bucharest Stock Exchange is conditioned upon and subject to the following:

Proprietary Rights

The materials located on the Bucharest Stock Exchange World Wide Website, including all real time or other information and content as well as any software programs available on or through the website, are protected by copyright and other forms of proprietary rights. All right, title and interest in and to the contents are owned, licensed or controlled by the Bucharest Stock Exchange (the "BSE") or the party credited as the provider of the contents ("Third Party Provider").

Using the Contents

Except as otherwise indicated with respect to a particular portion, file, or document provided on this website, a user may only view and print one copy of the contents for its own personal, noncommercial use. The users may not copy, store, either in hardcopy or in an electronic retrieval system, transmit, transfer, perform, broadcast, publish, reproduce, create a derivative work from, display, distribute, sell, license, rent, lease or otherwise transfer any of the contents to any third person (including, without limitation, others in their company or organization) whether for direct commercial or monetary gain or otherwise without the prior written permission of the BSE or the Third Party Provider of the contents. Requests for such permission regarding BSE's contents must be in writing and should be sent to BSE. Certain Third Party Providers impose additional terms and conditions of use set forth elsewhere herein. A user of content from those Third Party Providers is also subject to those terms and conditions of use.

Disclaimers and Limitation of Liability

The Bucharest Stock Exchange cannot deal directly with the investors regarding the trading of listed securities. If users wish to invest in securities traded on the BSE, they may deal through one of the Broker Members approved by the BSE and Romanian National Securities Commission (RNSC) to trade in BSE listed/unlisted securities, also, they may contact the Custodian Members of BSE. Due to the number of sources from which the contents are obtained and the inherent hazards of electronic distribution they are provided to users on an "AS IS" basis without warranties of any kind and the BSE makes no representations about the suitability, completeness or accuracy of the information contained on this site, even it is believed to be true to the best of our knowledge using reliable sources. Neither the message, nor any opinions expressed herein, constitutes advice or a solicitation to subscribe, purchase or sell any securities. The BSE expressly disclaims any liability (whether in tort or contract or otherwise) from or in reliance upon any part of the contents of the site. It is recommended for users to seek the advice of professionals, as appropriate, regarding the evaluation of any specific security, indices, report, opinion, advice or other content. While BSE has endeavored to ensure the correctness of the information contained herein, the BSE, related companies or any of their respective employees or agents cannot and do not make any representation and to the fullest extent permitted by applicable law, hereby disclaim with respect to this website and the contents all express, implied and statutory warranties of any kind to users or any third party, including, but not limited to, representations and warranties regarding accuracy, timeliness, completeness, currentness, refresh frequency, reliability, noninfringement, merchantability or fitness for any particular purpose, or any representations or waranties arising from usage or custom or trade or by operation of law. Nor will they, to the extent permitted by law, be liable for any loss or damage arising in any way from, or in connection with, errors, delays or omissions in any information provided (including responsibility to any person by reason of negligence).

Use of Links

There are links in this site, which will let users leave the BSE's site. The linked sites are not under the control of the BSE and the BSE is not responsible for the contents of the linked site or any link contained in the linked site. The BSE is providing these links to users only as a convenience, and the inclusion of any link does not imply endorsement by the BSE of the site.

Laws and Regulations

User access to and use of this website is subject to all applicable Romanian laws and regulations.

Cookies

There is a technology called "cookies" which can be used by a website to enable its users to store tailored information from the website. A cookie can be sent to the user browser, which may then store it on user system. Some BSE pages use cookies so that BSE can better serve a client when he returns to BSE site. A cookie does not retrieve any other data from user hard drive or capture or store user e-mail address. The user can set its browser to notify him when is receiving a cookie, giving him the chance to decide whether to accept it. The user may continue browsing BSE site even if the user decide not to accept the cookie.

Personal Information - Collection and Use

BSE respects the user privacy. In general, the users can visit bvb.ro without telling to BSE who they are or revealing any personal information about themselves. There are times when BSE may need information from the users, such as name, mailing address or e-mail address. The user will be asked to supply that information voluntarily. BSE will take certain steps to protect the information that the users share with BSE. BSE will not sell the users personal information to any other company or third party agency, or release such information except when required to do so by law or by duly authorized regulators of the Exchange or its Internet activities, or as otherwise provided herein. When BSE receives information about a user session or about a user, BSE may use it for research, regulatory purposes, or to improve its site. In general, on bvb.ro, IP addresses (the Internet address of a computer) are logged to track a user's session while the user remains anonymous. This data is analyzed for certain trends and statistics, such as which parts of BSE site users are visiting and how long they spend there, among other possible uses.

Changes to Terms and Conditions of Use

The BSE reserves the right to revise these Terms and Conditions of Use at any time and users are deemed to be aware of and bound by any changes to these Terms and Conditions of Use upon publication on BSE website

Changes to content

The BSE reserves the rights to change without notice all products and services information contained on this site.

Restrictions

BSE webpage is designed for use in the context of ordinary navigation, navigation using a graphics program and generating a frequency of access requests specific to human capacity to process information in the appropriate context. It is forbidden to use automated programs to access the web page of BSE and / or parsing of the information contained therein. BSE reserves the right to block, without notice and without any obligation to provide explanations, the access for a particular Internet address (IP) to the BSE site for a specific period / indefinite, if it detects a behavior that cannot be justified by normal and reasonable access to BSE website or if this behavior prevents the proper functioning of systems of BSE, To retrieve electronic data from BSE, for any purpose other than for strictly personal information you need an express consent from BSE and in this regard, please address a written request to BSE, which will be treated in accordance with the BSE policy.

Violations of Terms and Conditions of Use

BSE reserves the right to seek all remedies available at law and in equity for violations of these Terms and Conditions of Use, including the right to block access from a particular Internet address to BSE site.