XXXXXX XXXXXXX XXXX XXXXXX
1/27/2000 13:58:56
------------------------------------------------------------------------------------------------------------------------------------
HMAC HMAC 00-PH1 SERIES 2000-PH1 CLASS A1
------------------ --------------- ---------------- --------------- ---------------- --------------- ---------------- --------------
Class A1 Cusip N/A Dated Date 02/01/2000 Original 171,000,000.00
Balance
Delay 14 First Payment 03/15/2000 Factor 1.00000000 Lead Manager Prudential
Date
Payment Freq Monthly Next Payment 03/15/2000 Current Balance 171,000,000.00 Orig Deal Size 956,916,238.00
Date
Yield Day Count 30/360 Settlement Date 02/08/2000 Coupon 7.46900 Num of Tranches 19
Yield Freq SemiAnnual Interest Freq Monthly Market Desc N/A Deal Age 0
YIELD TABLE DATE 01/27/2000 Credit Rating AAA/Aaa
SCENARIOS CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
----------------------- --------------------- --------------------- --------------------- --------------------- --------------------
PRICE/YIELD
98/24 7.808 7.815 7.818 7.820 7.824
98/28 7.779 7.785 7.789 7.791 7.794
99/00 7.750 7.756 7.759 7.761 7.764
99/04 7.721 7.726 7.729 7.731 7.734
99/08 7.692 7.697 7.700 7.701 7.704
99/12 7.663 7.668 7.670 7.672 7.674
99/16 7.635 7.639 7.641 7.642 7.644
99/20 7.606 7.609 7.611 7.613 7.614
99/24 7.577 7.580 7.582 7.583 7.584
99/28 7.548 7.551 7.553 7.554 7.554
100/00 7.520 7.522 7.524 7.524 7.524
100/04 7.491 7.493 7.494 7.495 7.495
100/08 7.463 7.464 7.465 7.466 7.465
100/12 7.434 7.436 7.436 7.437 7.435
100/16 7.406 7.407 7.407 7.407 7.406
100/20 7.377 7.378 7.378 7.378 7.376
100/24 7.349 7.349 7.349 7.349 7.347
100/28 7.321 7.321 7.321 7.320 7.317
101/00 7.293 7.292 7.292 7.291 7.288
101/04 7.264 7.264 7.263 7.262 7.259
101/08 7.236 7.235 7.234 7.234 7.229
AVERAGE LIFE 5.70 5.60 5.56 5.52 5.43
FIRST PRIN 03/15/2000 03/15/2000 03/15/2000 03/15/2000 03/15/2000
LAST PRIN 09/15/2008 09/15/2008 09/15/2008 09/15/2008 07/15/2008
PAYMENT WINDOW 103 103 103 103 101
ACCRUAL FACTOR 0.1452 0.1452 0.1452 0.1452 0.1452
MOD DURATION @ 100/00 4.36 4.31 4.28 4.25 4.20
This information is being delivered to a specific number of prospective
sophisticated investors in order to assist them in determining whether they have
an interest in the type of security described herein. It has been prepared
solely for information purposes and is not an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given
with respect to the accuracy or completeness of the information, or with respect
to the terms of any future offer of securities conforming to the terms hereof.
Any such offer of securities would be made pursuant to a definitive Prospectus
or Private Placement Memorandum, as the case may be, prepared by the issuer
which could contain material information not contained herein and to which the
prospective purchasers are referred. In the event of any such offering, this
information shall be deemed superseded, amended and supplemented in its entirety
by such prospectus or Private Placement Memorandum. Such Prospectus or Private
Placement Memorandum will contain all material information in respect of any
securities offered thereby and any decision to invest in such securities should
be made solely in reliance upon such Prospectus or Private Placement Memorandum.
Certain assumptions may have been made in this analysis which have resulted in
any returns detailed herein. No representation is made that any returns
indicated will be achieved. Changes to the assumptions may have a material
impact on any returns detailed. Xxxxxx Xxxxxxx & Co. Incorporated disclaims any
and all liability relating to this information, including without limitation any
express or implied representations or warranties for, statements contained in,
and omissions from, this information. Additional information is available upon
request. Xxxxxx Xxxxxxx & Co. Incorporated and others associated with it may
have positions in, and may effect transaction in, securities and instruments of
issuers mentioned herein and may also perform or seek to perform investment
banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and
availability are subject to change without notice. To our readers worldwide: In
addition, please note that this publication has been issued by Xxxxxx Xxxxxxx &
Co. Incorporated, approved by Xxxxxx Xxxxxxx International Limited, a member of
The Securities and Futures Authority, any by Xxxxxx Xxxxxxx Japan Ltd. We
recommend that such investors obtain the advice of their Xxxxxx Xxxxxxx & Co.
Incorporated, Xxxxxx Xxxxxxx International or Xxxxxx Xxxxxxx Japan Ltd.
representative about the investments concerned. NOT FOR DISTRIBUTION.
XXXXXX XXXXXXX XXXX XXXXXX
1/27/2000 13:58:56
------------------------------------------------------------------------------------------------------------------------------------
HMAC HMAC 00-PH1 SERIES 2000-PH1 CLASS A2
------------------ --------------- ---------------- --------------- ---------------- --------------- ---------------- --------------
Class A2 Cusip N/A Dated Date 02/01/2000 Original 532,326,000.00
Balance
Delay 14 First Payment 03/15/2000 Factor 1.00000000 Lead Manager Prudential
Date
Payment Freq Monthly Next Payment 03/15/2000 Current Balance 532,326,000.00 Orig Deal Size 956,916,238.00
Date
Yield Day Count 30/360 Settlement Date 02/08/2000 Coupon 7.67000 Num of Tranches 19
Yield Freq SemiAnnual Interest Freq Monthly Market Desc N/A Deal Age 0
YIELD TABLE DATE 01/27/2000 Credit Rating AAA/Aaa
SCENARIOS CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
----------------------- --------------------- --------------------- --------------------- --------------------- --------------------
PRICE/YIELD
98/24 7.940 7.941 7.941 7.941 7.943
98/28 7.921 7.921 7.921 7.922 7.923
99/00 7.902 7.902 7.902 7.902 7.903
99/04 7.882 7.882 7.883 7.883 7.884
99/08 7.863 7.863 7.863 7.863 7.864
99/12 7.844 7.844 7.844 7.844 7.845
99/16 7.825 7.825 7.825 7.825 7.825
99/20 7.805 7.805 7.805 7.806 7.806
99/24 7.786 7.786 7.786 7.786 7.786
99/28 7.767 7.767 7.767 7.767 7.767
100/00 7.748 7.748 7.748 7.748 7.747
100/04 7.729 7.729 7.729 7.729 7.728
100/08 7.710 7.710 7.710 7.710 7.709
100/12 7.691 7.691 7.691 7.691 7.689
100/16 7.672 7.672 7.672 7.672 7.670
100/20 7.653 7.653 7.653 7.653 7.651
100/24 7.634 7.634 7.634 7.634 7.632
100/28 7.615 7.615 7.615 7.615 7.612
101/00 7.596 7.596 7.596 7.596 7.593
101/04 7.577 7.577 7.577 7.577 7.574
101/08 7.559 7.559 7.558 7.558 7.555
AVERAGE LIFE 9.50 9.50 9.49 9.47 9.30
FIRST PRIN 09/15/2008 09/15/2008 09/15/2008 09/15/2008 07/15/2008
LAST PRIN 11/15/2009 11/15/2009 11/15/2009 11/15/2009 09/15/2009
PAYMENT WINDOW 15 15 15 15 15
ACCRUAL FACTOR 0.1491 0.1491 0.1491 0.1491 0.1491
MOD DURATION @ 100/00 6.54 6.54 6.53 6.52 6.44
This information is being delivered to a specific number of prospective
sophisticated investors in order to assist them in determining whether they have
an interest in the type of security described herein. It has been prepared
solely for information purposes and is not an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given
with respect to the accuracy or completeness of the information, or with respect
to the terms of any future offer of securities conforming to the terms hereof.
Any such offer of securities would be made pursuant to a definitive Prospectus
or Private Placement Memorandum, as the case may be, prepared by the issuer
which could contain material information not contained herein and to which the
prospective purchasers are referred. In the event of any such offering, this
information shall be deemed superseded, amended and supplemented in its entirety
by such prospectus or Private Placement Memorandum. Such Prospectus or Private
Placement Memorandum will contain all material information in respect of any
securities offered thereby and any decision to invest in such securities should
be made solely in reliance upon such Prospectus or Private Placement Memorandum.
Certain assumptions may have been made in this analysis which have resulted in
any returns detailed herein. No representation is made that any returns
indicated will be achieved. Changes to the assumptions may have a material
impact on any returns detailed. Xxxxxx Xxxxxxx & Co. Incorporated disclaims any
and all liability relating to this information, including without limitation any
express or implied representations or warranties for, statements contained in,
and omissions from, this information. Additional information is available upon
request. Xxxxxx Xxxxxxx & Co. Incorporated and others associated with it may
have positions in, and may effect transaction in, securities and instruments of
issuers mentioned herein and may also perform or seek to perform investment
banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and
availability are subject to change without notice. To our readers worldwide: In
addition, please note that this publication has been issued by Xxxxxx Xxxxxxx &
Co. Incorporated, approved by Xxxxxx Xxxxxxx International Limited, a member of
The Securities and Futures Authority, any by Xxxxxx Xxxxxxx Japan Ltd. We
recommend that such investors obtain the advice of their Xxxxxx Xxxxxxx & Co.
Incorporated, Xxxxxx Xxxxxxx International or Xxxxxx Xxxxxxx Japan Ltd.
representative about the investments concerned.
NOT FOR DISTRIBUTION.
XXXXXX XXXXXXX XXXX XXXXXX
1/27/2000 13:58:56
------------------------------------------------------------------------------------------------------------------------------------
HMAC HMAC 00-PH1 SERIES 2000-PH1 CLASS B
------------------ --------------- ---------------- --------------- ---------------- --------------- ---------------- --------------
Class B Cusip N/A Dated Date 02/01/2000 Original 43,062,000.00
Balance
Delay 14 First Payment 03/15/2000 Factor 1.00000000 Lead Manager Prudential
Date
Payment Freq Monthly Next Payment 03/15/2000 Current Balance 43,062,000.00 Orig Deal Size 956,916,238.00
Date
Yield Day Count 30/360 Settlement Date 02/08/2000 Coupon 7.53000 Num of Tranches 19
Yield Freq SemiAnnual Interest Freq Monthly Market Desc N/A Deal Age 0
YIELD TABLE DATE 01/27/2000 Credit Rating AA/Aa2
SCENARIOS CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
----------------------- --------------------- --------------------- --------------------- --------------------- --------------------
PRICE/YIELD
98/24 8.100 8.100 8.100 8.100 8.102
98/28 8.080 8.081 8.081 8.081 8.083
99/00 8.061 8.062 8.062 8.062 8.063
99/04 8.042 8.043 8.043 8.043 8.044
99/08 8.023 8.024 8.024 8.024 8.025
99/12 8.004 8.005 8.005 8.005 8.005
99/16 7.985 7.986 7.986 7.986 7.986
99/20 7.966 7.967 7.967 7.967 7.967
99/24 7.947 7.948 7.948 7.948 7.948
99/28 7.928 7.929 7.929 7.929 7.929
100/00 7.910 7.910 7.910 7.910 7.909
100/04 7.891 7.891 7.891 7.891 7.890
100/08 7.872 7.872 7.872 7.872 7.871
100/12 7.853 7.853 7.854 7.854 7.852
100/16 7.835 7.835 7.835 7.835 7.833
100/20 7.816 7.816 7.816 7.816 7.814
100/24 7.797 7.797 7.797 7.797 7.796
100/28 7.779 7.779 7.779 7.779 7.777
101/00 7.760 7.760 7.760 7.760 7.758
101/04 7.741 7.741 7.741 7.742 7.739
101/08 7.723 7.723 7.723 7.723 7.720
AVERAGE LIFE 9.79 9.78 9.77 9.77 9.60
FIRST PRIN 11/15/2009 11/15/2009 11/15/2009 11/15/2009 09/15/2009
LAST PRIN 12/15/2009 12/15/2009 11/15/2009 11/15/2009 09/15/2009
PAYMENT WINDOW 2 2 1 1 1
ACCRUAL FACTOR 0.1451 0.1451 0.1451 0.1451 0.1451
MOD DURATION @ 100/00 6.63 6.62 6.62 6.62 6.54
This information is being delivered to a specific number of prospective
sophisticated investors in order to assist them in determining whether they have
an interest in the type of security described herein. It has been prepared
solely for information purposes and is not an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given
with respect to the accuracy or completeness of the information, or with respect
to the terms of any future offer of securities conforming to the terms hereof.
Any such offer of securities would be made pursuant to a definitive Prospectus
or Private Placement Memorandum, as the case may be, prepared by the issuer
which could contain material information not contained herein and to which the
prospective purchasers are referred. In the event of any such offering, this
information shall be deemed superseded, amended and supplemented in its entirety
by such prospectus or Private Placement Memorandum. Such Prospectus or Private
Placement Memorandum will contain all material information in respect of any
securities offered thereby and any decision to invest in such securities should
be made solely in reliance upon such Prospectus or Private Placement Memorandum.
Certain assumptions may have been made in this analysis which have resulted in
any returns detailed herein. No representation is made that any returns
indicated will be achieved. Changes to the assumptions may have a material
impact on any returns detailed. Xxxxxx Xxxxxxx & Co. Incorporated disclaims any
and all liability relating to this information, including without limitation any
express or implied representations or warranties for, statements contained in,
and omissions from, this information. Additional information is available upon
request. Xxxxxx Xxxxxxx & Co. Incorporated and others associated with it may
have positions in, and may effect transaction in, securities and instruments of
issuers mentioned herein and may also perform or seek to perform investment
banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and
availability are subject to change without notice. To our readers worldwide: In
addition, please note that this publication has been issued by Xxxxxx Xxxxxxx &
Co. Incorporated, approved by Xxxxxx Xxxxxxx International Limited, a member of
The Securities and Futures Authority, any by Xxxxxx Xxxxxxx Japan Ltd. We
recommend that such investors obtain the advice of their Xxxxxx Xxxxxxx & Co.
Incorporated, Xxxxxx Xxxxxxx International or Xxxxxx Xxxxxxx Japan Ltd.
representative about the investments concerned.
NOT FOR DISTRIBUTION.
XXXXXX XXXXXXX XXXX XXXXXX
1/27/2000 13:58:56
------------------------------------------------------------------------------------------------------------------------------------
HMAC HMAC 00-PH1 SERIES 2000-PH1 CLASS C
------------------ --------------- ---------------- --------------- ---------------- --------------- ---------------- --------------
Class C Cusip N/A Dated Date 02/01/2000 Original 47,846,000
Balance
Delay 14 First Payment 03/15/2000 Factor 1.00000000 Lead Manager Prudential
Date
Payment Freq Monthly Next Payment 03/15/2000 Current Balance 47,846,000 Orig Deal Size 956,916,238.00
Date
Yield Day Count 30/360 Settlement Date 02/08/2000 Coupon 5.00 Num of Tranches 19
Yield Freq SemiAnnual Interest Freq Monthly Market Desc N/A Deal Age 0
YIELD TABLE DATE 01/27/2000 Credit Rating A/A2
SCENARIOS CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
----------------------- --------------------- --------------------- --------------------- --------------------- --------------------
PRICE/YIELD
98/24 8.260 8.260 8.261 8.261 8.262
98/28 8.241 8.241 8.241 8.242 8.243
99/00 8.222 8.222 8.222 8.222 8.224
99/04 8.203 8.203 8.203 8.203 8.204
99/08 8.183 8.184 8.184 8.184 8.185
99/12 8l.164 8.165 8.165 8.165 8.166
99/16 8.145 8.146 8.146 8.146 8.146
99/20 8.126 8.127 8.127 8.127 8.127
99/24 8.107 8.108 8.108 8.108 8.108
99/28 8.088 8.089 8.089 8.089 8.089
100/00 8.070 8.070 8.070 8.070 8.069
100/04 8.051 8.051 8.051 8.051 8.050
100/08 8.032 8.032 8.032 8.032 8.031
100/12 8.013 8.013 8.013 8.013 8.012
100/16 7.994 7.994 7.995 7.995 7.993
100/20 7.975 7.976 7.976 7.976 7.974
100/24 7.957 7.957 7.957 7.957 7.955
100/28 7.938 7.938 7.938 7.938 7.936
101/00 7.919 7.920 7.920 7.920 7.917
101/04 7.901 7.901 7.901 7.901 7.898
101/08 7.882 7.882 7.883 7.882 7.880
AVERAGE LIFE 9.85 9.85 9.85 9.83 9.66
FIRST PRIN 12/15/2009 12/15/2009 11/15/2009 11/15/2009 09/15/2009
LAST PRIN 01/15/2010 12/15/2009 12/15/2009 12/15/2009 10/15/2009
PAYMENT WINDOW 2 1 2 2 2
ACCRUAL FACTOR 0.1481 0.1481 0.1481 0.1481 0.1481
MOD DURATION @ 100/00 6.61 6.61 6.60 6.59 6.52
This information is being delivered to a specific number of prospective
sophisticated investors in order to assist them in determining whether they have
an interest in the type of security described herein. It has been prepared
solely for information purposes and is not an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given
with respect to the accuracy or completeness of the information, or with respect
to the terms of any future offer of securities conforming to the terms hereof.
Any such offer of securities would be made pursuant to a definitive Prospectus
or Private Placement Memorandum, as the case may be, prepared by the issuer
which could contain material information not contained herein and to which the
prospective purchasers are referred. In the event of any such offering, this
information shall be deemed superseded, amended and supplemented in its entirety
by such prospectus or Private Placement Memorandum. Such Prospectus or Private
Placement Memorandum will contain all material information in respect of any
securities offered thereby and any decision to invest in such securities should
be made solely in reliance upon such Prospectus or Private Placement Memorandum.
Certain assumptions may have been made in this analysis which have resulted in
any returns detailed herein. No representation is made that any returns
indicated will be achieved. Changes to the assumptions may have a material
impact on any returns detailed. Xxxxxx Xxxxxxx & Co. Incorporated disclaims any
and all liability relating to this information, including without limitation any
express or implied representations or warranties for, statements contained in,
and omissions from, this information. Additional information is available upon
request. Xxxxxx Xxxxxxx & Co. Incorporated and others associated with it may
have positions in, and may effect transaction in, securities and instruments of
issuers mentioned herein and may also perform or seek to perform investment
banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and
availability are subject to change without notice. To our readers worldwide: In
addition, please note that this publication has been issued by Xxxxxx Xxxxxxx &
Co. Incorporated, approved by Xxxxxx Xxxxxxx International Limited, a member of
The Securities and Futures Authority, any by Xxxxxx Xxxxxxx Japan Ltd. We
recommend that such investors obtain the advice of their Xxxxxx Xxxxxxx & Co.
Incorporated, Xxxxxx Xxxxxxx International or Xxxxxx Xxxxxxx Japan Ltd.
representative about the investments concerned.
NOT FOR DISTRIBUTION.
1/27/2000 13:58:56
------------------------------------------------------------------------------------------------------------------------------------
HMAC HMAC 00-PH1 SERIES 2000-PH1 CLASS D
------------------ --------------- ---------------- --------------- ---------------- --------------- ---------------- --------------
Class D Cusip N/A Dated Date 02/01/2000 Original 11,962,000
Balance
Delay 14 First Payment 03/15/2000 Factor 1.00000000 Lead Manager Prudential
Date
Payment Freq Monthly Next Payment 03/15/2000 Current Balance 11,962,000 Orig Deal Size 956,916,238.00
Date
Yield Day Count 30/360 Settlement Date 02/08/2000 Coupon 5.000 Num of Tranches 19
Yield Freq SemiAnnual Interest Freq Monthly Market Desc N/A Deal Age 0
YIELD TABLE DATE 01/27/2000 Credit Rating A-/A3
SCENARIOS CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
----------------------- --------------------- --------------------- --------------------- --------------------- --------------------
PRICE/YIELD
98/18 8.383 8.383 8.384 8.385 8.387
98/22 8.364 8.364 8.365 8.365 8.367
98/26 8.344 8.345 8.346 8.365 8.348
98/30 8.325 8.326 8.326 8.327 8.328
99/02 8.306 8.307 8.307 8.308 8.309
99/06 8.287 8.287 8.288 8.288 8.289
99/10 8.268 8.268 8.269 8.269 8.270
99/14 8.249 8.249 8.250 8.250 8.250
99/18 8.230 8.230 8.231 8.231 8.231
99/22 8.211 8.211 8.212 8.212 8.212
99/26 8.192 8.192 8.193 8.193 8.193
99/30 8.173 8.173 8.174 8.174 8.173
100/02 8.154 8.155 8.155 8.155 8.154
100/06 8.135 8.136 8.136 8.136 8.135
100/10 8.117 8.117 8.117 8.117 8.116
100/14 8.098 8.098 8.098 8.098 8.097
100/18 8.079 8.079 8.079 8.079 8.078
100/22 8.060 8.061 8.060 8.060 8.059
100/26 8.042 8.042 8.042 8.042 8.040
100/30 8.023 8.023 8.023 8.023 8.021
101/02 8.004 8.004 8.004 8.004 8.002
AVERAGE LIFE 9.94 9.92 9.88 9.85 9.69
FIRST PRIN 01/15/2010 12/15/2009 12/15/2009 12/15/2009 10/15/2009
LAST PRIN 01/15/2010 01/15/2010 01/15/2010 12/15/2009 10/15/2009
PAYMENT WINDOW 1 2 2 1 1
ACCRUAL FACTOR 0.1499 0.1499 0.1499 0.1499 0.1499
MOD DURATION @ 100/00 6.61 6.60 6.58 6.57 6.50
This information is being delivered to a specific number of prospective
sophisticated investors in order to assist them in determining whether they have
an interest in the type of security described herein. It has been prepared
solely for information purposes and is not an offer to buy or sell or a
solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given
with respect to the accuracy or completeness of the information, or with respect
to the terms of any future offer of securities conforming to the terms hereof.
Any such offer of securities would be made pursuant to a definitive Prospectus
or Private Placement Memorandum, as the case may be, prepared by the issuer
which could contain material information not contained herein and to which the
prospective purchasers are referred. In the event of any such offering, this
information shall be deemed superseded, amended and supplemented in its entirety
by such prospectus or Private Placement Memorandum. Such Prospectus or Private
Placement Memorandum will contain all material information in respect of any
securities offered thereby and any decision to invest in such securities should
be made solely in reliance upon such Prospectus or Private Placement Memorandum.
Certain assumptions may have been made in this analysis which have resulted in
any returns detailed herein. No representation is made that any returns
indicated will be achieved. Changes to the assumptions may have a material
impact on any returns detailed. Xxxxxx Xxxxxxx & Co. Incorporated disclaims any
and all liability relating to this information, including without limitation any
express or implied representations or warranties for, statements contained in,
and omissions from, this information. Additional information is available upon
request. Xxxxxx Xxxxxxx & Co. Incorporated and others associated with it may
have positions in, and may effect transaction in, securities and instruments of
issuers mentioned herein and may also perform or seek to perform investment
banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and
availability are subject to change without notice. To our readers worldwide: In
addition, please note that this publication has been issued by Xxxxxx Xxxxxxx &
Co. Incorporated, approved by Xxxxxx Xxxxxxx International Limited, a member of
The Securities and Futures Authority, any by Xxxxxx Xxxxxxx Japan Ltd. We
recommend that such investors obtain the advice of their Xxxxxx Xxxxxxx & Co.
Incorporated, Xxxxxx Xxxxxxx International or Xxxxxx Xxxxxxx Japan Ltd.
representative about the investments concerned.
NOT FOR DISTRIBUTION.
