USE OF THIS MORNINGSTAR.COM WEB SITE (AND ITS ENTIRE CONTENTS, INCLUDING BUT NOT LIMITED TO THE TEXT, DATA, INFORMATION, MATERIALS, SOFTWARE, AND GRAPHICS CONTAINED OR PROVIDED THEREIN) (COLLECTIVELY, "WEB SITE") AND THE SERVICES OFFERED BY MORNINGSTAR, INC., ("MORNINGSTAR"), HEREUNDER IS SUBJECT TO THE TERMS AND CONDITIONS OF THIS FREE MEMBERSHIP AGREEMENT ("AGREEMENT"). BY USING THE WEB SITE OR CLICKING ON THE "I ACCEPT" BUTTON ABOVE: (1) YOU REPRESENT THAT YOU HAVE READ AND UNDERSTAND, AND HAVE THE CAPACITY AND AUTHORITY TO ENTER INTO, THIS FREE MEMBERSHIP AGREEMENT; AND (2) YOU AGREE TO BE BOUND BY ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT.

Morningstar may change the terms and conditions of this Agreement at any time. You will find notification of any such changes in the Membership area of the Web Site. You will be responsible for regularly checking this area and for reviewing any such changes. In addition, the current Agreement can always be found in the Membership area of the Web Site. By using the Web Site after any such changes take place, you agree to be bound by the Agreement as changed.

Ownership and Copyright
You acknowledge and agree that this Web Site and the information contained in it are owned by Morningstar and/or its third party content providers ("Content Providers") and is protected by U.S. and international copyright and other intellectual property laws. You further acknowledge and agree that the Web Site contains confidential and proprietary data and information of Morningstar and its Content Providers, that you will not use these data or information for any unlawful or unauthorized purpose, and that you will use reasonable efforts to keep such data and information confidential.

Trademarks
MORNINGSTAR, MORNINGSTAR.COM, and the MORNINGSTAR & DESIGN logo are service marks of Morningstar. Morningstar's star ratings and style boxes are trademarks of Morningstar. You will not use or allow any third party to use any of Morningstar's marks, including but not limited to the foregoing, without Morningstar's prior express written consent. All marks not owned by Morningstar are the property of their respective owners.

Use of this Web Site
You may use this Web Site only for your personal, noncommercial use. You may download or print hard copies of this Web Site, or portions thereof, only in connection with such personal, noncommercial use, provided that such downloads and hard copies contain the following notice:

"Copyright c 2001 Morningstar, Inc. All rights reserved."

You may not use or print hard copies of the Web Site for any use other than your personal, noncommercial use. Except as expressly set forth in this Agreement, you may not modify, copy, distribute, disclose, retransmit, sell, publish, broadcast, or circulate this Web site or any portion thereof without Morningstar's prior written consent.

Morningstar shall have the right, at any time without notice, to: (i) restrict or prevent your access to the Web Site (or any portion thereof); or (ii) change or discontinue providing the Web Site (or any portion thereof). Morningstar shall have no obligation to update the Web Site or to correct any errors or omissions in it.

Morningstar may require you to become a registered user, pay certain fees, and/or comply with certain other terms and conditions before you are allowed to access or use certain portions of the Web Site. In all such cases, this Agreement shall continue to govern your use of the Web Site.

Disclaimer of Warranties
THIS WEB SITE IS PROVIDED "AS IS" WITH ALL FAULTS. MORNINGSTAR AND ITS CONTENT PROVIDERS DISCLAIM ALL WARRANTIES OF ANY KIND REGARDING THIS WEB SITE, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OWNERSHIP, NONINFRINGEMENT, ACCURACY OF INFORMATIONAL CONTENT, AND ABSENCE OF VIRUSES AND DAMAGING OR DISABLING CODE.

NEITHER MORNINGSTAR NOR ITS CONTENT PROVIDERS WARRANT THE ACCURACY, CORRECTNESS, COMPLETENESS, OR TIMELINESS OF THIS WEB SITE. NEITHER MORNINGSTAR NOR ITS CONTENT PROVIDERS SHALL BE RESPONSIBLE FOR INVESTMENT DECISIONS, DAMAGES, OR OTHER LOSSES RESULTING FROM USE OF THIS WEB SITE OR THE INFORMATION CONTAINED THEREIN.

PAST PERFORMANCE OF A MUTUAL FUND, STOCK, OR OTHER INVESTMENT VEHICLE DOES NOT GUARANTEE FUTURE PERFORMANCE. MORNINGSTAR SHALL NOT BE CONSIDERED AN "EXPERT" UNDER THE SECURITIES ACT OF 1933. MORNINGSTAR DOES NOT WARRANT THAT THIS WEB SITE COMPLIES WITH THE SECURITIES LAWS OF ANY JURISDICTION OR WITH THE REQUIREMENTS OF THE NASD.

Some jurisdictions do not allow the exclusion or limitation of implied warranties, so the above exclusions or limitations may not apply.

Limitation of Liability
NEITHER MORNINGSTAR NOR ITS CONTENT PROVIDERS SHALL BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM OR RELATING TO THIS AGREEMENT, THE WEB SITE, OR THE USE OF, OR RELIANCE ON, THE WEB SITE, WHETHER IN CONTRACT OR TORT OR OTHERWISE, EXCEPT TO THE EXTENT SUCH DAMAGES ARISE DIRECTLY FROM A WILLFUL BREACH BY MORNINGSTAR OF ANY OF ITS EXPRESS OBLIGATIONS UNDER THIS AGREEMENT.

MORNINGSTAR'S AND ITS CONTENT PROVIDERS' AGGREGATE LIABILITY ARISING FROM OR RELATING TO THIS AGREEMENT, THE WEB SITE, OR THE USE OF, OR RELIANCE ON, THIS WEB SITE, WHETHER IN CONTRACT OR TORT OR OTHERWISE, SHALL BE LIMITED TO ACTUAL DIRECT DAMAGES THAT CAN BE PROVED UP TO AN AMOUNT NOT TO EXCEED $1,000.

NEITHER MORNINGSTAR NOR ITS CONTENT PROVIDERS SHALL BE LIABLE FOR ANY PUNITIVE, SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES ARISING FROM OR RELATING TO THE FOREGOING, WHETHER IN CONTRACT OR TORT OR OTHERWISE, EVEN IF MORNINGSTAR OR ITS CONTENT PROVIDER HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so the above limitations or exclusions may not apply.

Indemnification
You agree to indemnify, defend, and hold harmless Morningstar and its affiliates from and against any and all claims, liabilities, losses, costs (including, but not limited to, reasonable attorneys' fees), and/or damages of any kind arising from or relating to: (i) your use of the Web Site; (ii) your breach of this Agreement; or (iii) any messages, information, or materials uploaded, posted, published, or transmitted by you in connection with the Forums (as defined below).

Third-Party Web Sites, Links, and Information
This Web Site may contain information, products, and services provided by third parties and links (including advertisements) to Web sites made available by third parties. This information and these products, services, and links are provided only as a convenience to users of this Web Site. Morningstar does not control this information or these products, services, or Web sites, and Morningstar does not make any representations or warranties, express or implied, regarding this information or these products, services, or Web sites. Inclusion of any of the foregoing in this Web Site does not constitute or imply an endorsement, authorization, sponsorship, or affiliation by or with Morningstar with respect to any third party, any third party's Web site or its content, or any information, products, or services provided by a third party.

Stock Quotes
Stock quotes are supplied by S&P ComStock. Stock quotes are delayed between 15 and 60 minutes. Stock quotes are believed to be accurate, but neither Morningstar nor its Content Providers warrant or guarantee such accuracy. Morningstar advises that you should always confirm the price with a broker or other party executing your purchase or redemption of a stock, mutual fund, or other investment.

"THE STOCK EXCHANGE OF HONG KONG LIMITED ENDEAVORS TO ENSURE THE ACCURACY AND RELIABILITY OF THE INFORMATION PROVIDED BUT DOES NOT GUARANTEE ITS ACCURACY OR RELIABILITY AND ACCEPTS NO LIABILITY (WHETHER IN TORT OR CONTRACT OR OTHERWISE) FOR ANY LOSS OR DAMAGE ARISING FROM ANY INACCURACIES OR OMISSIONS"

Privacy and Information Made Available by You
Morningstar shall have the right to use and disclose any information provided by you through this Web Site (including but not limited to information provided through e-mail) or made available through your use of this Web Site, for any lawful purpose, unless you indicate otherwise in the Membership area of the Web Site. In no event shall you be entitled to any compensation for the use of any of this information.

Please see our Privacy Policy for further details.

Governing Law and Jurisdiction
This Agreement is governed by and construed in accordance with the laws of the United States and the State of Illinois, without giving effect to any choice-of-law or conflict-of-law provision or rule (whether of the State of Illinois or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the United States or the State of Illinois. You hereby consent to, and agree to bring any and all claims in, the exclusive jurisdiction of the state and federal courts located in Cook County, Illinois, U.S.A., for any action or proceeding arising under or relating to this Agreement, the Web Site, or the use of, or reliance on this Web Site, whether based in contract or tort.

Entire Agreement
This Agreement shall constitute the entire agreement between you and Morningstar regarding the subject matter hereof and shall supersede any and all prior negotiations, representations, warranties, undertakings, or agreements, written or oral, between the parties regarding such subject matter.

Severability
To the maximum extent possible, each provision in this Agreement shall be interpreted in such manner as to be valid and enforceable under applicable law. If any provision of this Agreement is held to be invalid or unenforceable under applicable law, such provision shall be modified so as to be rendered valid and enforceable while implementing, to the maximum extent possible, the original intent of such provision. If such modification is not possible or allowed, then such provision shall be ineffective only to the extent of such unenforceability or invalidity without affecting the remainder of such provision or any other provisions in this Agreement.

THIS FREE MEMBERSHIP AGREEMENT WAS LAST UPDATED ON DECEMBER 19, 2000