Training on derivatives

The video on General Knowledge of Derivatives is extracted from Hong Kong Association of Banks (“HKAB”) investor education DVD (“Video”). The Video is being provided for general information purpose only and it is NOT intended to set forth the definitive terms of any transaction. The Video also does not constitute an offer to sell or the solicitation of an offer to buy any security. All intellectual property rights in and to the Video are owned by HKAB. The Video has been made available to HKAB members for the purpose of designing their own investor education materials. HKAB makes no representations or warranties of any kind about the Video or any part of it. To the maximum extent permitted by applicable law, HKAB and its employees, agents and representatives expressly disclaim any or any liability (whether in tort or contract or otherwise) for any loss, damage, costs or expenses of any nature arising from or in connection with the Video.