Disclaimer

The Performance data shown on our Web site represents the trailing, four-week, cap-weighted total returns of the lists of securities rated as "Buy," "Hold" and "Sell" when viewed as theoretical portfolios, rebalanced weekly. Construction of the three simulated portfolios is intended to illustrate total return discrimination among the three categories of ratings and is not meant to be a recommendation for actual construction of an investment portfolio in whole or in part. The rating that we apply is our assessment of the expected return of that stock, but no one, including us, can predict future results, and we expressly disclaim the same. The Service and the information contained herein is not and should not be considered individually or collectively as recommendations to buy or sell any stock or the basis on which to form an investment portfolio. The supply of the data is provided soley as an accommodation to the user, and is not intended to be construed as the provision of investment advice, recommendations or guidance as to investment in securities. The information is solely for the private, non-corporate purposes of the user. To the extent that any information is used in connection with any research, investigation, or inquiry as to any security or contemplated investment in securities, user expressly acknowledges that DeMarche has no responsibility, obligation or duty as to any resulting investment decision; each user is soley responsible for his or her own research and any resulting decision. Any use made of the Web site is at the sole discretion and is the sole responsibility of the user.

DeMarche reserves the right to make changes and to update or not update the performance information at any time without prior notice. DeMarche will not be responsible for any loss or damage caused by, and user expressly disclaims any reliance on, the use of this Web site or any information contained in the Web site or any hyperlinked area. User acknowledges that his, her or its access to and use of the information is entirely at his, her or its own risk, and that it is the sole responsibility of the user to evaluate the accuracy, completeness and usefulness of all the information contained herein. All information, products and services are provided "as is" without warranty of any kind, either expressed or implied, including without limitation, implied warranties of merchantability, fitness for a particular pupose or non-infringement. In no event shall DeMarche be liable for any direct, indirect, special, punitive or consequential damages resulting from the use of the information provided on the Web site.

Nothing in this disclaimer shall be deemed to disclaim any duty or liability that might otherwise arise in connection with any applicable federal securities law in the event that DeMarche is deemed to be acting as an investment adviser by provision of services through the Web site.