This site policy is applicable to website (www.in.daiwacm.com) managed and operated by Daiwa Capital Markets India Private Limited ("DCMIPL"). Please note the following when accessing these sites.

1. Introduction

Any items on this website are published for the purpose of providing information pertaining to DCMIPL as well as general information relating to Daiwa Securities Group Inc. Information is not provided for solicitation or any offering purposes.
DCMIPL reserves the right to modify or delete any part of the contents published on the website without any notice.

2. User Environment

We recommend the following user environment when accessing this website.

Viewing Flash Content

DCMIPL elects to use Adobe Flash software for content on a portion of this website. Flash Player from Adobe is required to view such content.

3. Cookies, JavaScript and IP Addresses

DCMIPL uses Cookies, JavaScript and IP Addresses on a portion of this website for the following purposes:

1. To study usage conditions on this website without tracking specific users.
2. To pinpoint and resolve any problems that may arise on the web server.
3. To improve the content of the website as well as e-mails and improve overall user satisfaction.
4. To customize the content of the website and e-mails so that it matches up with user preferences.

• *An IP address is a number that identifies a user's computer.
• *JavaScript is a scripting language that is embedded within the html code of a website to add interactive features to web pages.
• *A Cookie is a piece of information sent from DCMIPL's web server to a user's browser. The browser saves the information on the user's hard disk or other memory location. Although Cookies can distinguish between IP addresses of users, it cannot distinguish any features of a specific user unless the user inputs personal information to the browser. Any information inputted is saved on the Cookie and the browser sends it back to DCMIPL's web server whenever the user returns to this website. At this time, although the web server can identify the user, it does not infringe on or violate the user's privacy or usage environment.

In order to increase privacy, browsers may be configured to alert the user when a cookie is being sent, or to refuse to accept cookies. If a user disables the function that allows the acceptance of cookies by a browser, a portion of DCMIPL's website may not operate properly. Users are fully responsible for the setting and managing of Cookies.

Cookie Settings

The following instructions should be followed to modify cookie settings on a browser:

On Microsoft Internet Explorer7.0 for the PC

• *Setting instructions may differ depending on the browser. The help menu on the browser can be accessed to determine specific instructions for setting cookies.

1. Click on the "Tools" tab and select "Internet Options"
2. Click on the "Privacy" tab and select "Advanced"
3. Click on "Overwrite automatic cookie handling" and choose the setting for "First-party Cookies" and "Third-party Cookies" (websites other than those displayed)

• To specify that Cookies should always be saved on the computer, click on "Accept"
• To specify that Cookies should never be saved on the computer, click on "Block"
• To have the computer display a message every time a cookie is received, click on "Prompt"