Natixis Distribution, LLC ("Natixis Distribution") has specifically designed this private website (the "Natixis IM Merrill Web Site") for the exclusive use of the Merrill Lynch Pierce Fenner & Smith Incorporated ("Merrill Lynch") US Financial Advisors who do business with investors who are not US Persons (as that term is used in Regulation S under the Securities Act of 1933, as amended) or persons otherwise present in the US. The Natixis IM Merrill Web Site is not a public web site and does not contain information intended for anyone other than those persons from within Merrill Lynch that have been granted authorization to view and use the Natixis IM Merrill Web Site ("Authorized Users"). By using the Natixis IM Merrill Web Site, you acknowledge that you are an Authorized User and that you agree to comply with the terms and conditions of this Legal Notice.

The sole purpose of the Natixis IM Merrill Web Site is to facilitate the provision, to Authorized Users, of fund-related documentation, marketing material and other approved communications concerning certain funds promoted by Natixis Investment Managers International that are domiciled outside of the United States and that may be offered by or through Merrill Lynch, in accordance with separately agreed contractual terms, as may be amended from time to time.

Authorized Users should be aware that products or services described on the Natixis IM Merrill Web Site may not be available for investment in all jurisdictions, or to all types of investors in a jurisdiction. Authorized Users shall not issue any information obtained from the Natixis IM Merrill Web Site to a US Person or persons present in the US or in any jurisdiction or to any type of investor in a jurisdiction where prohibited by law. Any solicitation, marketing or sales efforts made by an Authorized User on the basis of information obtained from the Natixis IM Merrill Web Site are under the sole responsibility of the Authorized User.

Natixis Distribution makes no warranty or representation that the Natixis IM Merrill Web Site can be accessed at all times. The Natixis IM Merrill Web Site may, without notice, be temporarily unavailable or restricted for administrative or other reasons. The entire content of the Natixis IM Merrill Web Site is subject to copyright with all rights reserved. While precautions have been taken to ensure the accuracy of information available through the Natixis IM Merrill Web Site, Natixis Distribution is not responsible for the consequence of any action carried out by any Authorized User in reliance on the Natixis IM Merrill Web Site or its content.

The Natixis IM Merrill Web Site is owned and operated by Natixis Distribution, 888 Boylston Street, Boston, Massachusetts, 02199 USA.