Preamble:

Whereas the Customer wishes to establish a securities portfolio through which investment tools which are listed in International Markets shall be dealt with which the Bank consents to deal with and delegates the establishment thereof to the Bank, being fully aware that he shall be responsible for the entire obligations as a result of dealing with the Bank and conducting investment transactions through the Bank and that he shall solely be responsible for the risk consequences of his orders to the Bank to perform his investment transactions; hence, all the general and special terms and conditions contained under this Agreement shall apply to dealing with all the investment tools provided for hereunder.  The preamble of this Agreement and its appendices shall be deemed to be an integral part thereof and shall be read together therewith as one unit for all intents and purposes.