These Terms and Conditions explain certain legal and regulatory conditions and restrictions in relation to Principal Global Investors (Europe) Limited, Principal Global Investors (Europe) Limited Niederlassung Deutschland and the information contained on this website. This information may be changed by Principal Global Investors at any time without notice.In these terms and conditions, references to "Principal Global Investors" means Principal Global Investors (Europe) Limited, Principal Global Investors (Europe) Limited Niederlassung Deutschland or any affiliate of the Principal Financial Group, Inc. or Principal Global Investors LLC.

The information, functions and materials on this website ("this website") are provided by Principal Global Investors (Europe) Limited ("PGIE"), level 4, 10 Gresham Street, London EC2V 7JD, which is an investment manager in the United Kingdom and regulated and authorised by the Financial Services Authority ("FSA"), the British financial regulator (registered in the register of the FSA under number 191120). PGIE is registered in England and Wales as a Private Company (Company Number 03819986).Principal Global Investors (Europe) Limited Niederlassung Deutschland is located at Maximilianstrasse 35A, D-80539 München, Germany. Principal Global Investors (Europe) Limited Niederlassung Deutschland is a branch office (Zweigniederlassung) in the meaning of Section 53b of the German Banking Act (Kreditwesengesetz) of Principal Global Investors (Europe) Limited and is registered in the commercial register at the municipality court of Munich (Amtsgericht München) under number HRB 161571.PGIE is subject to the guidelines and provisions of the FSA; details hereto can be found on the website of the FSA under www.fsa.gov.uk. The FSA regulates the financial services industry in the United Kingdom; its address is 25 The North Colonnade, Canary Wharf, London E14 5HS, England. Principal Global Investors (Europe) Limited Niederlassung Deutschland is a branch office supervised by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - "BaFin") as far as provided for by the German Banking Act and other applicable German law.

This website is directed exclusively at professional clients resident in Germany (as defined in Section 31a of the German Securities Trading Act (Wertpapierhandelsgesetz) and Annex II of the Markets in Financial Instruments Directive 2004/39/EG); access to and usage of this website is permitted only to these clients.This website is not directed at professional clients that are resident in a jurisdiction other than Germany (including the United States).

Nothing contained in this website shall constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful or not authorised.Users of this website because of its usage are not automatically viewed as clients by PGIE.No instructions for investment purposes will be accepted directly from this website or by e-mail.

This website should not be interpreted as investment, legal or tax advice or advice regarding the suitability of an investment or investment strategy for your personal situation nor does it contain any investment recommendation directed personally at you.

The Principal Global Investors Funds ("the Funds") details of which are available on the website are registered in Germany with the BaFin for public distribution. Investments in the Funds may only be made on an application form attached to the current Prospectus. The latest version of the Prospectus of the Funds is dated 10 October 2008.The Prospectus and the simplified Prospectus as well as the latest annual and half-year reports are available free of charge and can be downloaded at www.principalglobalfunds.com.PGIE does not directly or indirectly recommend to purchase units in the Funds. The provisions dealing with financial analysis (Section 34b of the German Securities Trading Act) do therefore not apply.

Past performance is not indicative or a guarantee of future performance; no explicit or implicit assurance or warranty is given with regards to future performance.

The price or value as well as the returns of the financial instruments [fund units] named on the website can rise as well as fall. Financial instruments denominated in a foreign currency are subject to exchange rate fluctuations, which can have a positive or negative effect on the value, price or return of these financial instruments. Investors in financial instruments which value can be influenced by exchange rate fluctuation are de facto subject to this risk.You should only deal in financial instruments if you have the required knowledge of the relevant financial instruments and the associated risks. You should also satisfy yourself that the product is suitable with regards to your investment targets, risk profile and personal and financial situation.

Opinions and views correspond to the assessment of Principal Global Investors on the date of initial publication. Principal Global Investors reserves the right to delete or change information on the website without prior notice.Principal Global Investors may publish further reports which do not match the information shown on the website or represent different views. These reports mirror the different assumptions, views and analytical methods of various analysts. Principal Global Investors is not bound to point out these reports to you.The information on this website is given by Principal Global Investors in good faith and has been derived from sources believed to be reliable and accurate as at their date. However, Principal Global Investors makes no representation or warranty of any kind for the accuracy or completeness of the information and it is under no obligation to update or correct any errors in the information after the date of publication. Subject to applicable law, Principal Global Investors and its affiliates and their respective directors, employees and associates do not accept any responsibility arising in any way (including by reason of negligence) for errors in, or omissions from, the information and do not accept any liability for any loss or damage, howsoever caused, as a result of any persons relying on any information on the website or being unable to access the website.The Internet is not a totally reliable and secure medium of communication. Principal Global Investors accepts no liability for the security or confidentiality of information transmitted in this way and any transmission of information shall be at your own risk.

The entire content of this website is subject to copyright with all rights reserved. You may not copy, reproduce, distribute or modify the content of this website without the prior written permission of Principal Global Investors.

This website is directed exclusively at persons who are under the German Securities Trading Act (Wertpapierhandelsgesetz) and the Markets in Financial Instruments Directive 2004/39/EG classed as professional clients.

You should be aware that cookies are used on this website. Cookies are small text files that your web browser files as data in your computer. This data inclusive of your IP-address is used by us for administrative purposes and to facilitate the access to our websites. You can set your web browser in such a manner that you will be informed of cookies or that the downloading of cookies can be averted. If you decline the usage of cookies this could lead to a restriction in the functionality of this website; if you decline the usage of cookies in connection with your identification, access to our website might under certain circumstances not be possible.Your usage of the products and services of this website can be monitored by Principal Global Investors or a service provider; the resulting data can be used by Principal Global Investors for internal business purposes or in accordance with the provisions of the responsible regulator or self-regulatory body.

These conditions are subject to English law.

Principal Global Investors is obliged by the FSA to have internal procedures for the appropriate and timely processing of complaints in place. In case of a complaint clients are asked to address themselves to the Compliance Department at the address of Principal Global Investors (Europe) Limited noted above.

The costs and fees that will arise will be determined by the financial products and services selected by you. Information about the standard fees and charges are set out in the Funds Prospectus and client agreements.

If you want further information about Principal Global Investors please contact Herr Schuleit at Principal Global Investors (Europe) Limited Niederlassung Deutschland at the address noted above.

I confirm that I am a professional client (as defined in the German Securities Trading Act and the Markets in Financial Instruments Directive 2004/39/EG) based in Germany and that I understand and accept the preceding conditions. This includes my agreement to the seizing and using of cookies as well as my IP-address.