RISK DISCLAIMER

The performance information is based on the published results of the participants in the 2nd FX Trading Challenge, organised by Varengold Wertpapierhandelsbank AG, which ran from 1 August 2009 to 31 October 2009. The data collected is based on the performance reached in Varengold Wertpapierhandelsbank AG demo accounts as part of the 2nd FX Trading Challenge and does not take account of the costs and fee structure applicable to the Forex managed account.

Varengold Wertpapierhandelsbank AG has not verified the personal contact details of the trader and cannot guarantee the accuracy of this information.

The following presentation of participants by Varengold Wertpapierhandelsbank AG in no way constitutes a recommendation on the part of Varengold Wertpapierhandelsbank AG for FX clients to contact or work with these parties.

The Forex managed accounts can be subject to significant fluctuation as a result of the possible use of leverage i.e. the share prices may rise and fall considerably even within extremely short periods of time. There is a risk of total loss.

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