Explanation

In order to use the ING Global Real Estate Securities Limited (“ING GRES” or “the company”) website you must read and accept the following important legal information.

ING Clarion Real Estate Securities LLC (“ING CRES”) is acting for the Company and no one else. The information contained within this website does not constitute financial, professional or investment advice. To confirm the suitability of this investment for you, please speak to your financial adviser.

Agreement

By Clicking this button, you confirm that you have read and understood the important legal information below.


IMPORTANT LEGAL INFORMATION

The information contained within this website is issued by the Investment Manager, ING Clarion Real Estate Securities LLC ("ING CRES") and is provided for reference purposes only.

Nothing on this website is directed at any person where the publication or availability of such information is prohibited or restricted.

ING GRES is a closed-ended company incorporated with limited liability under the laws of Guernsey with registered number 44714. Its registered address is Trafalgar Court, Les Banques, St Peter Port Guernsey GY1 3QL. It is listed on the Official List of the London Stock Exchange. ING GRES is managed by ING CRES.

If you are unsure about the meaning of any information provided on this website, please consult your financial or other professional adviser.

General Risk Warning

Investment in the company involves a degree of risk. This includes the risk that the market value of the shares may vary considerably from their underlying net asset value.

The performance of the Company will be adversely affected by a downturn in the Global property market, any reduction in rental levels, or changes in the rate of applicable taxation or a reduction in the deductibility of interest and expenses.

Property securities will have investments in property and property-related assets, which are inherently subjective as regards value due to the individual nature of the property. There is no assurance that the valuations of the properties will reflect actual sale prices even where any such sales occur shortly after the relevant valuation date.

Prospective investors should be aware that, whilst the use of borrowings should enhance the Net Asset Value of the shares where the value of the underlying assets is rising, it will have the opposite effect where the underlying asset value is falling.

The strategy which the company uses may result in movements in the price of the shares being more volatile than the movements in the price of the underlying investments and the investment being subject to sudden and large falls in value.

The value of investments, and any income from them, can go down as well as up and you may not get back the amount you originally invested if there is a sufficiently large fall in the value of the investment. Past performance is not a guide to future performance.

An investment in the Company could be considered as part of a balanced portfolio.

Responsibility

Nothing on this website shall constitute, or form part of, any offer or invitation to sell or issue any securities in the Company in any jurisdiction.

Those viewing this website who are considering investing for shares in the Company are reminded that any such investment must be made solely on the basis of the information contained in the most up to date prospectus (and, if applicable, any supplementary prospectus and accounts) including the risk factors set out therein. No reliance may be placed for any purpose whatsoever on the information or opinions contained on this website or on its completeness, accuracy or fairness and no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the completeness, accuracy or fairness of the information contained on this website or the opinions expressed on it and no responsibility or liability is accepted by any of them for any such information or opinions. Further, the information displayed may be amended by us at any time and without notice. By continuing to use this website, you agree to the exclusion by us, to the extent permitted by applicable law and regulation, of any and all liability for any direct, indirect, punitive, consequential, incidental, special or other damages, including, without limitation, loss of profits, revenue or data arising out of or relating to your use of and our provision of this website and its content. If you are dissatisfied with any aspect of this website, or of its contents, your sole and exclusive remedy is to discontinue use of this website.

This website contains links to websites operated by third parties. We are not responsible for and make no representation or warranty as to the accuracy, completeness, timeliness or suitability of such information, and we have not and will not review or update such information and caution you that any use made of such information is at your own risk. Some of the information contained on this website may, where indicated, have been provided by third parties and may not have been verified by ING GRES. We make no representation or warranty as to the accuracy, completeness, timeliness or suitability of such information and hereby exclude any and all liability arising out of the provision of such third party information.

This Important Legal Information may be updated from time to time.

 


© 2006 ING Global Real Estate Securities