Regulators Statement

Those who advise on life assurance, pensions or unit trust products are either independent advisers or representatives of one company. Your advisers are independent and will act on your behalf in advising you on life assurance, pensions or unit trust products. As your adviser is independent, he can advise you on the products of different life companies.

Westexe (Life and Pension) Services Ltd are independent Financial Advisors and are regulated by the Financial Services Authority (the FSA) and are bound by FSA's rules.

We are not tied to one company's products, and therefore are able to be impartial when giving advice and on arranging life assurance, pensions, investments in authorised unit trusts, personal equity plans and ISAs

We hope the following will assist you in understanding the services we aim to provide.

We are also able to advise on mortgager and some general insurance and other products and services, which are not regulated by the Financial Services Authority. Because they are outside the Financial Serves Act 1986 there is no compensation scheme for such products and services

Independent Financial Advice

We offer independent financial advice but occasions can arise where we, or one of our other customers will have same sort of interest in the business we are transacting for you if that happens or we become aware that our interests or those of other customers conflict with your interest, we will write to you with details of our interest and obtain your consent before we carry out your instructions.

Commissions

We derive income from commission paid to us in respect of transactions in life assurance. ISAs, unit trusts and other regulated collective investment schemes and in investment trust schemes held in a PEP or regular savings scheme. We shall tell you the amount of commission payable to us on any such investment

If we receive commission or other form of benefit from the issuer of security or from another intermediary we will inform you, but we will not tell you the amount unless you ask us to do so.

Charges

The company receives commission from companies with whom investments including life assurance are arranged. We retain that commission. There are also occasions where we make a charge to clients, calculated on the following basis, maximum of 3% with a minimum of £250.00

Westexe reserve the right to make a charge for service rendered. I.e. where a mortgage is offered but not taken up a small registration fee may also be charged on an application for mortgage finance. Where we propose to charge a fee we shall agree the rate with you in writing prior to any work being carried out

Statement of Review

When we have arranged any investments for which you have given your instructions we will not give you any further advice unless you request it, but will be glad to advise you at any time you ask us to.

Advice

Any advice to be given by us, or instructions shall be in writing and any instructions to be given by you are also to be in writing. If any advice, request for instruction or instructions are given orally, then they must be confirmed in writing, to avoid possible disputes. We may refuse at our discretion to accept certain instructions, although such discretion will not be exercised unreasonably.

Records

We keep all records of all your investment transactions for up to six years. You and your appointed agents, have the right to inspect the records at a mutually convenient time. As we treat all our clients' records as confidential, we reserve the right to give you copies of your records, where, in certain circumstances to release the originals would compromise other clients' confidentiality

Registration of Investment / Retention of Documents

We will register all investments in your name unless otherwise agreed in writing. All contract notes and documents of title in respect of your investment will be forwarded to you, unless otherwise instructed in writing, as soon as practicable after being received by us. Where a number of documents relating to a series of transactions are involved, we will normally retain the documents until the series is complete and then forwarded to you.

Locum Arrangements

The firm has only one partner or director who is engaged in the day-to-day conduct of investment business. If he were unable to conduct business the firm would not want you to suffer. We have therefore made a formal arrangement with Sebastian Lange, 34 Victoria Road, Dartmouth, Devon TQ6 9SA (Tel: Dl803 833024) to carry out our business obligations if we were unable to conduct our investment business for a period of more then fourteen days.

Professional Indemnity Insurance

We confirm that we maintain adequate Professional Indemnity Insurance for your protection in the event of our negligence. Details of this insurance, including the current limits of indemnity, are available on request.

If you should make a valid claim against the firm in respect of any of the above investments we arrange for you and we were unable to meet our liabilities in full, you may be entitled to redress from the Investors Compensation Scheme. Details of the cover provided by the scheme are given in a leaflet, which we will send to you at your request. Further information is available from the Financial Services Authority and the Investors Compensation Scheme.

Complaints

If you have any complaint about the advice you receive or a product, which you have bought, please write to the Compliance Officer at the above address

Third Party Rights

These Terms of Business exclude any rights, which may be conferred upon third partier by the Contracts Third Party Rights Act 1998

Termination

You, or we, may terminate our authority to act on your behalf at any time, without penalty. Notice of this termination must be given in writing.

WESTEXE (LIFE and PENSIONS) SERVICES LTD DOES NOT HANDLE CLIENTS' MONEY. WE NEVER ACCEPT A CHEOUE MADE OUT TO US UNLESS IT IS A CHEOUE IN SETTLEMENT OF OUR CHARCES OR DISBURSEMENTS FOR WHICH WE HAVE SENT YOU A FEE NOTE

Data Protection and Direct Marketing

INFORMATION HELD UPON YOU. In order to advise you properly, we must obtain certain information from you about your financial and personal circumstances, to assess your suitability for particular products and services.

By signing these Terms and Conditions of Business:

You agree that the information we hold about you can be held on computer and/or paper files.

You agree that any information, which you give us may be disclosed to third parties (e.g. credit reference agencies and product providers) for the purpose of processing your application.

You agree that we may use the information that we hold about you to contact you from time to time by post, fax, email or telephone to bring to your attention additional products or services, which may be of benefit to you.

We agree that any consent given by you under paragraph 3 above may be withdrawn by you at any time by contacting us in writing at:

Westexe (Life and Pensions) Services Ltd 25 Okehampton Street, St Thomas, Exeter Devon, EX4 1DY