Electronic Services Shareholder Agreement

Purpose of Agreement

The Franklin Templeton Electronic Services Agreement (the "Agreement") is designed by Franklin Templeton Investments (Asia) Limited ("Franklin Templeton") to provide an online access for Franklin Templeton Shareholders and to use information, products and Services available through the Hong Kong Franklin Templeton Web Site (the "Site"). Only Shareholders who agree to the terms of this Agreement (referred to from now on as "You") will be able to conduct business with Franklin Templeton using the Site.

Nothing in this Agreement should be construed as a solicitation or recommendation to buy or sell any products of Franklin Resources, Inc. and its associated subsidiaries and affiliates ("Franklin Templeton Products").

Your consent to the terms of this Agreement
If You agree to the content of this Agreement, You should click on the "Accept" button at the end of this Agreement to acknowledge Your consent and intention to be bound by these terms. By clicking on the "Accept" button, completing the registration process, obtaining a password, and using the Site, You indicate that You understand and intend this Agreement to be the legal equivalent of a signed, written contract, and equally binding, and that You will use the Site in a manner consistent with applicable laws and regulations and in accordance with the terms in this Agreement, as the same may be amended from time to time.
Accessing your account information on our site means sending and receiving personal financial information over the Internet. You are also authorising Franklin Templeton to act on instructions received by computer (including instructions received from commercial online services like AOL, T-Online, and the Internet) for any permitted actions related to your account access (including account maintenance actions) through this Web site. All permitted actions related to your account access are subject to any terms, restrictions and policies in the prospectus for your fund and your account application.

What this Agreement allows You to do
Franklin Templeton may make available services that allow You to look up details through the Site of the shares in Franklin Templeton Products held by You ("Services").

Franklin Templeton may, at any time and for any reason, remove particular products from the list of Franklin Templeton Products and may vary or remove the Services which we make available to You under this Agreement.

Term of this Agreement and Termination
This Agreement may be terminated by Franklin Templeton or by You at any time by written notice or email to the other party. This Agreement will terminate automatically when Your account is closed or when You or Franklin Templeton fail to comply with the terms of this Agreement. Franklin Templeton reserves the right, without liability, at any time, to change any of the Services offered on this Web site or to deny or restrict Your access and to terminate this Agreement. Franklin Templeton reserves the right to deny access to the Services if you fail to type the correct User ID and/or Password three consecutive times. You may then be required to complete the registration process again for online access.

Your responsibilities under this Agreement
You shall be the only authorized user of the Services offered under this agreement. You agree to keep confidential the data, information, or Services provided under this Agreement. You shall be responsible for the confidentiality and use of your passwords and other security data, methods and devices. You will be solely responsible for the use of any data, information, or Services obtained, using Your User IDs and Passwords. Any instructions communicated to Franklin Templeton through these means will be deemed to have been sent and authorized by You and shall be deemed to have been made at the time received by Franklin Templeton and in the form received except for instructions which have been erroneously generated, repeated, changed or otherwise affected by Franklin Templeton’s systems or otherwise under circumstances controlled by Franklin Templeton. You will notify Franklin Templeton immediately if You



Franklin Templeton and other third party Information
Certain information including last sale transaction data and other financial market data, third-party research and analysts' reports, opinions, price charts, news reports, and other information relating to Franklin Templeton Products or other products and securities in the market, may be made available from outside data sources. This information has been obtained through sources believed reliable but Franklin Templeton makes no representation with respect to, nor does it guarantee or endorse the accuracy, completeness, reliability or availability of, such information.

No advice
You agree and acknowledge that any information You receive pursuant to this Agreement is not intended to constitute investment, tax or legal advice. Reliance on content or information obtained from or through the Site is at Your sole risk.

Limitation of liability
Except in cases of breach of essential contractual duties under this Agreement, Franklin Templeton will not be liable for simple negligence.

Except in cases of wilful misconduct or gross negligence by Franklin Templeton, Franklin Templeton will not be liable to You:


In no event will Franklin Templeton be liable to You for any loss or damages caused by riot, war or natural events or due to other occurrences outside Franklin Templeton’s control or for which Franklin Templeton is not responsible (e.g. strike, lock-out, administrative acts of domestic or foreign high authorities).

Security of the Internet
You acknowledge that data, including e-mail, electronic communications and personal financial data, may be accessed by unauthorised third parties when communicated between You and Franklin Templeton using the Internet, other network communications facilities, telephone or any other electronic means. Franklin Templeton is not responsible for the security of information transmitted via the Internet, the accuracy of the information contained on the Site, or for the consequences of any reliance on such information.

Data Protection
Franklin Templeton might collect and store information ("Data") gathered from Your online session. Franklin Templeton is authorised by You to share this Data with and transmit this Data to any affiliated company registered within or outside Hong Kong. Franklin Templeton will use your Data only for advice by dealers or for promotional services including direct marketing, to improve Your Web experience and to evaluate the site's Services and features. You have the right to request Franklin Templeton for access to and/or correction of your Data by writing to Franklin Templeton Investments (Asia) Limited, 17/F Chater House, 8 Connaught Road, Central, Hong Kong. If you do not wish to receive any marketing or other information relating to Franklin Templeton Products and services offered by Franklin Templeton Investments, you are entitled to request that they cease, without charge, to use your Data for these purposes by informing Franklin Templeton at the address given above.

Changes to this Agreement
Any amendments of this Agreement will be notified to You. They shall be deemed to have been approved unless You object in writing within one month from the notification of the amendments. You might also agree explicitly, which includes click to accept approval

Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the Hong Kong Special Administrative Region.

Miscellaneous
Should any provision in this Agreement become wholly or partially ineffective, this shall not affect the validity of the remaining provisions of the Agreement. In place of the ineffective provision an appropriate regulation shall apply which – as far as it is legally possible – most closely reflects the intention of the parties concluding this Agreement.