SCOTIA ONLINE BROKERAGE SERVICES
ELECTRONIC SERVICES TERMS OF ACCESS
 
Please read carefully the following Terms of Access. If you do not agree with these terms you will not have access to the brokerage functions within the Scotia Online site.
 
"ScotiaMcLeod" is a registered trademark of The Bank of Nova Scotia. "ScotiaMcLeod Direct", "Scotia iTRADE", "Scotia Online" and "Scotia Online Brokerage" are trademarks of The Bank of Nova Scotia. Scotia Capital Inc. is an authorized user of these marks. All other trademarks, service marks, registered trademarks, or registered service marks mentioned in this web site are the property of their respective owners. Scotia Capital Inc. is a wholly owned subsidiary of The Bank of Nova Scotia. ScotiaMcLeod and Scotia iTRADE are divisions of Scotia Capital Inc.
"Scotia Private Client Group"consists of private client services from The Bank of Nova Scotia, The Bank of Nova Scotia Trust Company, Scotia Asset Management Investment Counsel Limited, Scotia Asset Management U.S. Investment Counsel Inc., and ScotiaMcLeod, a division of Scotia Capital Inc.,all members of the Scotiabank Group. Scotia Capital Inc. is a member of Canadian Investment Protection Fund."Scotia Private Client Group"is a registered trademark of The Bank of Nova Scotia (each individually or collectively referred to as a "Service Provider").
"You" and "yourv refer to the person who has been issued a ScotiaCard and undertakes Electronic Services. "We", "our" and "us" refer to the member of the Scotiabank Group offering a particular service including, if appropriate, its affiliates.
 
You agree to comply with the terms and conditions of The ScotiaCard Cardholder Agreement, as that agreement is amended by The Bank of Nova Scotia from time to time, in addition to the terms and conditions contained herein. Where there is a conflict between the provisions of this Agreement and the ScotiaCard Cardholder Agreement, the provisions of this Agreement will govern. You acknowledges and understands that the range of services that you may use and the types of transactions that you may enter into in respect of Client's Designated Account(s) using the ScotiaCard may be different than those described in the ScotiaCard Cardholder Agreement. You agrees that you may only use those services and enter into those transactions which the Service Provider makes available to clients from time to time in its sole discretion. All capitalized terms not defined herein shall have the meaning set forth in the ScotiaCard Cardholder Agreement.
 
No portion of the content of this web site may be reproduced, other than for personal, non-commercial use, in any form or by any means, without prior written permission from the Service Provider.
 
Electronic Services
 
You agree that you may only use those services and enter into those transactions which the Service Provider make available to users from time to time.Your access to all electronic and telephone services, including but not limited to the Scotia Online Brokerage services (the "Electronic Services"), may be temporarily suspended or terminated, without notice, where it is believed that you are using such services for inappropriate purposes.
 
The Electronic Services are intended to permit clients to, among other things, transmit securities trading instructions, view account balances, access related information, effect Direct Payment transactions and pay bills to any participating business, company or utility, which services may vary from user to user depending upon level of access granted. We reserves the right to charge for those services.
 
Transactions
 
Transactions entered into by you through Electronic Services will be posted to your account as follows: (i) transactions processed before 5 p.m.(Eastern Time) on any business day will be processed on that day and will appear on the your account records on the following business day; and (ii) transactions processed after 5 p.m. (Eastern Time) will be processed as of the next business day, however, interest will be calculated as of the day on which the transaction was entered by you. For transactions processed after 5 p.m., your account records will reflect the transaction on the second business day after the transaction was entered.
You will receive a reference number or, if the transaction is by way of the Internet, a transaction record will be displayed on the computer screen. Where the Electronic Services are used to effect a Direct Payment transaction, third parties may provide the transaction record directly to you.
 
Fees
 
The Service Provider endeavours to keep the rates and fees posted on this web site current. However, rates, fees and related information are subject to change at any time with prior notice and may not be reflected. A list of charges and fees will be provided to you upon request. However, fees and rates imposed by other financial institutions may only be obtained from such financial institutions. For more information on fees, see the ScotiaCard Cardholder Agreement.
 
Security
You will follow the security requirements of the ScotiaCard cardholder agreement and any rules or instructions we may issue.
You are solely responsible for the security and confidentiality of your Electronic Signature, which includes logon ids, passwords, access codes and personal identification numbers chosen by you. The Service Provider shall not be responsible for the unauthorized use of the service by any other person with your Electronic Signature, and the Service Provider is under no obligation to confirm the actual identity or authority of any user of the Electronic Signature.
 
You shall notify the Service Provider immediately upon becoming aware of any known or suspected unauthorized use of your Electronic Signature to gain access to the Electronic Services, or any other breach of security involving your Electronic Signature.
 
You will be liable up to the maximum daily and weekly permitted purchase and withdrawal amounts through the ScotiaCard, ScotiaCard number and/or Electronic Signature for all account activity contemplated by this Agreement resulting from unauthorized use. For more information on security and unauthorized use, see the ScotiaCard Cardholder Agreement.
 
Transaction Acceptance
 
You acknowledges and agrees that with regards to Electronic Services:
 
(1) You are solely responsible for the accuracy of transactions;
 
(2) We may exercise our absolute discretion to accept and process transactions placed through your Electronic Signature, whether or not the transaction was placed by you,and will not incur any liability by reason of acting or failing to act in such respect;
 
(3) all transaction requests will only be processed if your account is in good standing, you have sufficient funds to complete the transaction and the transaction is consistent with your stated objectives, where your stated objectives are applicable;
 
(4) prior to processing, all brokerage order requests must be reviewed and approved by a licensed trader where applicable. If the order is not approved for any reason, it may be cancelled. You will be advised of the details and any necessary action by e-mail or telephone;
 
(5) in certain circumstances we may request additional confirmation of any transaction request before execution of the same;
 
(6) for mutual protection, we may keep records of all transactions and instructions received, though not required by applicable law or regulatory requirements to do so. These records will be conclusive and binding on you in the absence of clear proof that the records are erroneous or incomplete;and
 
(7) We may pay a referral fee to its affiliates and their personnel as compensation for referring you to us.
 
You must advise us immediately if: you placed a transaction and did not receive the applicable reference number;you did not receive the written confirmation; you received an inaccurate written confirmation; or you received a written confirmation for a transaction not placed.
 
Cancellation of Access
 
We may at any time, without notice, withdraw or vary any Electronic Services. Any transactions posted subsequent to the withdrawal of such service will not be processed by the Service Provider.
 
Disclaimer
 
The information provided by the Electronic Services is provided "AS IS" with all faults. While we believes the information to be correct when posted on the Electronic Services, neither us nor our affiliates nor any third party owner, licensor or supplier of equipment, software, systems, services or facilities (the "Systems") used or made available in connection with the information used or made available through the Electronic Services, including market data, quotation information and databases, and including news, articles, text, graphs, audio clips, video clips, broadcasts and seminars ("Data") makes or is liable for any representation, warranty or condition, whether express or implied, concerning the Systems or Data or the use thereof, including, without limitation, that (i) the Systems or Data will meet your needs, will be of a merchantable quality and fitness for use at any particular time or for any particular purpose or will be error free or (ii) the Systems or Data is up-to-date, accurate, in sequence, reliable, complete or suitable for any purpose. Without limiting the foregoing, "real time" quotes viewed on this web site, particularly in times of high volumes of trading and market volatility, may not be reflective of current trading prices. Further, all express or implied, direct or indirect, representations, warranties and conditions in respect of the Systems and Data arising or implied by statute, common law, custom, usage of trade, course of performance, course of dealing or otherwise, including, but not limited to, any warranties or conditions are expressly excluded.
 
Changes may be made at any time to the Electronic Services and the information contained therein without prior notice. If you are a client of ScotiaMcLeod, consult your Investment Executive or any branch of ScotiaMcLeod for more complete and up-to-date information. If you are a client of Scotia iTRADE, contact the local office of Scotia iTRADE.If you are a client of Scotia Private Client Group, please consult your Relationship Manager.
 
The Electronic Services are not intended to provide legal, accounting or tax advice and should not be relied upon in that regard.
 
All the Data is protected by copyright and each supplier of the Data reserves all proprietary and intellectual property rights therein.You shall not reproduce, retransmit, disseminate, sell, rent, distribute, publish, broadcast, circulate or commercially exploit the Data provided through the Electronic Services in any manner or furnish it to any other person without our prior written consent of the Service Provider and the relevant supplier. As a user of the Electronic Services you shall use the Data accessible through the Electronic Services only for your individual use, and shall indemnify and hold harmless us,our affiliates and each supplier of Data from any losses or liabilities incurred as a result of your breach of the foregoing provisions or other misuse of the Data. You agrees that the terms of this Agreement may be enforced directly against you by each supplier of Data.
 
We and each supplier of Data expressly disclaims any liability for losses or damages, whether direct, indirect, specific or consequential incurred by you and whether by contract,negligence or otherwise. In consideration for our providing access to you of the Electronic Services, you shall release,each supplier of Data and all related companies and their respective directors, officers, employees and agents from all claims and proceedings for such losses, damages or consequences.
 
We expressly disclaims any liability for your acts or omissions, such as errors regarding dollar figures, account numbers or other information required to complete an Electronic Service. You acknowledges that once you confirms the details of a transaction made through the Electronic Services, that transaction may not be revoked, other than for post-dated payments for which you provides a written request to stop payment at least five business days before the payment is due to be charged to your account.
 
The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use.
 
The Dow Jones Wilshire IndexesSM are jointly produced by Dow Jones & Company, Inc. and Wilshire Associates, Inc. and have been licensed for use. All content of the Dow Jones Wilshire IndexesSM © 2005 is proprietary to Dow Jones & Company, Inc. & Wilshire Associates Incorporated.
 
All claims or disputes arising by virtue of your effecting (i) a permitted Direct Payment transaction or (ii) a permitted bill payment through the Electronic Services, we will in no way be liable for (a) the quality or non-receipt of the goods or services purchased pursuant to (i) or (b) verifying that any purpose for which the payment in (ii) is made has been fulfilled. Any such claims or disputes must be settled directly with the third party merchant, business, company or utility. Similarly, we shall not be liable if any merchant, business, company or utility does not accept your ScotiaCard number or Electronic Signature.
 
We and our affiliates do not guarantee continuous access. From time to time interruptions, errors or other deficiencies in service may occur which are outside our control and our affiliates, including interruptions in the accessibility of the Internet, a system outage in facilities of a third party service and market conditions that may result in general market volatility, volatility affecting a particular security or class of securities, or heavy demand and high volumes of trading activity. Neither we nor its affiliates will be liable for any loss or damage resulting from use of the Systems, including but not limited to loss or damage resulting from failure of electronic or mechanical equipment or communications lines, the Internet, telephone or other inter-connect problems, power failure or third party system failure.
 
Information in this web site does not constitute a solicitation or offer to sell our products or services and our subsidiaries and affiliates or mutual funds normally distributed by them, or the securities or financial instruments of any issuer. We do not guarantee investment results and are not liable for any loss or missed investment opportunities resulting from any investment decision made by you.
 
Links in this web site to other web sites or references to products, services or publications other than ours or those of our subsidiaries and affiliates should not be construed as an endorsement, recommendation or approval of such web sites, products, services or publications by us or our subsidiaries and affiliates, rather are solely those of the third party and not of us or our affiliates.
 
Information from the Electronic Services is intended for use only in Canadian jurisdictions where such services or products may lawfully be offered for use and/or for sale and neither use or sale is intended where prohibited by law. Canadian laws exclusively apply to this web site and to the use of this web site, notwithstanding domicile, residence or physical location of any user. THE ELECTRONIC SERVICES ARE NOT AVAILABLE TO U.S. RESIDENTS.
 
Market Volatility - Online Trading Customers Only
 
In times of market volatility and high trading volumes, both at market opening and during the trading day, and including situations of high volume trading of so-called "hot stocks",you may experience delays in the execution of their orders which may expose you to the risk of trade execution at a market price that is significantly different from the market price at the time the order was placed. Once an order is placed, it may be difficult or impossible to cancel. In these circumstances, we and our affiliates bear no responsibility to you for any discrepancy between the market price at the time of order placement and of trade execution. To minimize the risk, you should consider placing limit orders in lieu of market orders, limiting the price at which your order will be filled. Limit orders will be executed only at a specified price or better, rather than at the earliest opportunity without regard to price at the time of execution in the case of market orders. While the market may be such that your limit order does not get filled at all, this outcome may be more desirable than the risk of a fill at an undesirable price.
 
General
 
This web site is not a secure medium for e-mail communications. Any confidential, proprietary or sensitive information transmitted by means of this web site through e-mail may be read and/or copied by unauthorized persons.
 

You are responsible, at your own expense, to obtain and maintain all necessary equipment, software and communication links as required in order to access the Electronic Services.
 
When using this web site, it is your responsibility to take reasonable precautions to scan for computer viruses and other items of a destructive nature. You should ensure to have a complete and current backup of the information on your computer system prior to using this web site.
 
You may not assign your rights under this Agreement without the prior written permission of the Service Provider. This Agreement shall be governed by the laws in force in the Province of Ontario (without reference to its conflicts of laws rules).
 
If the account subject to this Agreement is held as a joint account by more than one person,your liabilities and obligations hereunder shall be joint and several, other than in the Province of Québec, and shall be carried out in accordance with the provisions of the applicable forms signed by you at the time the joint account was activated.
 
You acknowledges that you are also subject to all other agreements entered into with the Service Provider and its affiliates.
  * Indicates a Service Mark