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1. General Provisions

1.1. These General Business Terms & Conditions for Correspondent Banks define all legal relations between the Bank and the Customer arising from: (1) a Loro Account Agreement, (2) actions taken in order to open such an account, (3) in connection with the provision of services specified in the Terms & Conditions, and of Bank Transactions, and (4) an Agreement between the Bank and the Customer.

1.2. The Terms & Conditions, constituting an inseparable part hereof, supersedes, effective from 1st August 2002, relevant parts of he Terms & Conditions for the provision of Financial and Trading Services in effective since 1st July 2000.

1.3. These General Business Terms & Conditions, together with the Terms & Conditions, shall be incorporated in each Agreement, and, insofar any provisions of an Agreement vary from those of these General Business Terms & Conditions, the provisions of such written Agreement shall apply to the parties of the Agreement.

1.4. All legal relations not expressly provided for herein or in a relevant Agreement shall be governed by appropriate provisions of the Commercial Code, as applicable, and by other applicable legislation of the Slovak Republic.

1.5. Documentary credits are subject to the "Uniform Rules for Documentary Credits" published by the International Chamber of Commerce (ICC) in Paris, as applicable.

1.6. Documentary collections are subject to the "Uniform Rules for Collections" published by the International Chamber of Commerce (ICC) in Paris, as applicable.

1.7. Bank guarantees are subject to the "Uniform Rules for Bank Guarantees" published by the International Chamber of Commerce (ICC) in Paris, as applicable.

1.8. The Slovak version shall be the sole legally binding document. In case of any inconsistency between the Slovak and a foreign-language version, the Slovak version shall prevail and be binding.

Definitions of terms: The terms starting with capital letters used herein, in Agreements, or in any documents related to Agreements,shall have the meanings defined herein, unless an express provision to the contrary is made in such Agreements. Agreement: any contract or agreement made between the Bank and the Customer in respect of the execution of Bank Transactions. Authorised Person: a natural person authorised by the Customer in a Signature Specimen or by a separate power of attorney, signed by persons empowered to act on behalf of the Customer in accordance with a relevant Corporate Register extract, before a Bank employee or in an officially authenticated manner. Bank the company Slovenská sporiteľňa, a. s., having its registered office at Suché mýto 4,816 07 Bratislava, corporate ID:00 151 653, registered in the Corporate Register kept by the Bratislava I District Court, in section Sa, file No.601/B, the holder of a banking license granted by the decision of the National Bank of Slovakia No. ÚBD-1 247/1996 of 4 July 1996, No. ÚBD-2222/1997 of 29 December 1997, No. ÚBD-2470/99 of 1 March 2000, No. ÚBD-2284-3/2001 of 24 January 2002, and No. ÚBD-218/2002 of 6 February 2002. Bank Transaction: the origination, change or cessation of a contract between the Bank and the Customer, and any operations, including Disposal of deposits. Business Day: any day on which interbank transactions are settled. For transactions in a currency other than the Slovak koruna, this means any day when foreign exchange transactions are settled in the Slovak Republic and in the principal financial centre of the currency of denomination of the payments concerned. A financial centre means a place where the interest rates for the currency concerned are mostly quoted and where payments made in the currency are settled. The Bank's Business Days exclude the non-working days and holidays of the Slovak Republic. The Bank's Business Days shall also exclude any day that the Bank, due to particularly serious operating problems, declares a non-business day; the Bank shall publish any such decision in nation-wide Slovak periodicals at least 5 calendar days prior to the date declared a non-business day of the Bank. Confidential Information: any and all information concerning Customers learnt by he Bank in the process of, or in connection with, performing banking activities, including information subject of bank secret pursuant to the Banking Act, trade secret pursuant of the Commercial Code, or subject of legal protection pursuant of the Act on Protection of Personal Information in Information Systems, as well as any other information on the legal status, economic and financial situation, or activities of the Customer. Correspondent Bank: a legal person - financial institution having a contract with the Bank and/or for whom the Bank does or will conclude Bank Transactions. Current Account Agreement: a contract under which the Bank undertakes to set up on a specified date a Loro Account denominated in a specified currency for a Correspondent Bank. Customer: a Correspondent Bank - financial institution having a contract with the Bank and/or for whom the Bank has or will conclude Bank Transactions. Fees: the fees set out in an Agreement or herein which the Bank charges according to the or Terms & Conditions agreed by he way of derogation between the Bank and the Customer. General Business Terms & Conditions: the Bank's Terms & Conditions for Correspondent Banks and for the provision of services according o the Terms & Conditions. Instruction: an Order, Payment Order, or any other demand of the Customer delivered to the Bank. Loro Account: a customer current account opened by the Bank under a Current Account Agreement. Payment Order: a written order given by the Customer to the Bank to dispose of funds held in a Loro Account in cash or direct form, by means of a payment or collection. Publication: the making available of a document or information in a publicly accessible place at Business Outlets and/or through Electronic Services and/or on the Bank's web site and/or by any other appropriate method, at the Bank's discretion, whereupon the document or information takes effect, unless provided otherwise. Receivable: the Bank's right to receive money from the Customer. Signature Specimen: a Bank form containing signatures and/or other identification features of persons which the Customer, by filling out the form, authorizes to dispose of the funds in a Loro Account, at the same time specifying the manner of disposal of funds in the Loro Account by Authorised Persons; the Customer shall confirm the veracity of information given in a Signature Specimen and the authenticity of signatures of Authorised Persons by signatures of persons authorised to act on behalf of the Customer. SWIFT: society for world-wide interbank financial telecommunication which realize data transfers without documents among its members as a electronic process. Terms & Conditions: the up-to-date Terms & Conditions of the Bank, valid and effective from its Publication Date, applied to the execution of Bank Transactions with a Correspondent Bank. Test Key: a character string agreed between the sender and the recipient of a message. The Test Key is attached to each message as a means of authorisation. Messages which are subject to authorisation are sent by SWIFT or by telex. The general rule is that the Test Key must be unique for each senderrecipient pair. The sender generates the appropriate Test Key according o pre-agreed rules, and the recipient checks if it is correct. If the result is positive, the message is deemed authentic.

2. Opening and Maintenance of Loro ccounts

2.1. The Bank shall open a Loro Account for the Customer in accordance with the relevant provisions of the Commercial Code and the Current Account Agreement. A Loro Account shall be set up on the basis of the Customer's written request and a SWIFT message, in which it shall specify all basic information necessary for the maintenance of the Loro Account, including a declaration that it is familiar with the applicable version of the General Business Terms & Conditions and agrees to their content, as well as to the content of the Terms & Conditions. The Bank may require the Customer to supply any other documents which the Bank, at its own discretion, deems necessary for opening and maintaining the Loro Account. The Customer shall have no legal right to claim the opening of a Loro Account, regardless of any existing contracts between the Bank and the Customer.

2.2. Based on a request mentioned above, the Bank shall send the Customer a written confirmation of the opening of a Loro Account. The Loro Account Agreement shall become valid and effective upon receipt of the confirmation of the opening of the Loro Account by the Correspondent Bank concerned. The Customer's name and address and an assigned code number shall identify each Loro Account. Either one or several sub-accounts may be set up under a Loro Account.

2.3. The Customer shall become authorised to dispose of funds on the Loro Account when funds are first credited to the Loro Account.

2.4. The Customer undertakes to ensure that sufficient funds are held on the Loro Account at all times; any debit balances shall be subject to the prior agreement between the parties.

2.5. The Bank shall receive Instructions from the Customer given by Authorised Persons. Any changes concerning the representation of persons authorised to act on behalf of the Customer shall take effect upon delivery of appropriate documents to the Bank.

2.6. The Bank shall inspect all written notices, orders and instructions received from the Customer and compare signatures attached thereto with the appropriate Signature Specimen presented to the Bank. Except for documents duly verified by a Test Key, the Bank may only accept an instruction which is signed in person by Authorised Persons of the Customer. The Bank may decline to execute an order or follow an instruction if the signatures therein fail to match the signatures in the Signature Specimen held by the Bank. The Bank shall not be liable for any damages resulting from false Payment Orders and Instructions.

2.7. The Bank shall receive the Customer's Instruction only during a Business Day and, where an Instruction is received outside a Business Day, such instruction shall be deemed received on the next Business Day of the Bank. The Bank shall settle a Payment Order on the payment date specified in the Instruction. The Bank shall settle an Instruction delivered on the payment date in usual times or in times laid down by separate legislation.

2.8. The Bank may decline to execute an Instruction if:

- it is not clear, specific or comprehensible;
- it is not executed in the form prescribed by law or agreed between the parties;
- it contravenes generally applicable regulations and/or internal Bank regulations;
- the balance in the relevant Loro Account is insufficient for the payment requested in the Instruction, unless the parties agree otherwise;
- there is a pledge or disposal restriction on funds in the account.

The Bank shall not be liable for any damages resulting from the non-execution of an Instruction by virtue of this provision.

2.9. Unless the parties expressly agree otherwise, a Loro Account Agreement shall be made for an indefinite term.

2.10. Statements from a Loro Account about the balance on the Loro Account, and on credits and debits to/from the Loro Account, shall be sent to the Customer by mail, fax, telex, SWIFT, or delivered in person on the date following each transaction, with no test applied, based on the Customer's written request. Debit notices shall be sent to the account holder, as specified by him, without the Test Key applied. Credit notices shall be sent o the Customer, as specified by him, using the Test Key or the staff signatures as defined in a Signature Specimen.

2.11. The Customer shall notify the Bank in writing of any objections to or inconsistencies in statements sent by the Bank. If the Customer fails to notify its disagreement with the content of a statement to the Bank within 1 month from the date the statement was produced by the Bank, the Customer shall be deemed to have accepted and approved the statement provided by the Bank.

2.12. The Bank reserves the right to change its interest rates, and shall notify each interest rate change in writing to the Customer. Any change of interest rate shall take effect upon its Publication. The Bank shall credit accrued interest upon its annual account closing. A different interest accrual period may be determined subject to a case-to-case agreement. Accrued interest shall be calculated as at the last day of the relevant interest period. Accrued interest shall not be taxed.

2.13. The Customer shall pay the fees for the services provided as set out in the Terms & Conditions. Any fee shall be payable on the date the service that the fee is charged for was performed. The Loro Account maintenance fees shall be payable on an annual basis, always on the last day of a calendar year. The Customer hereby gives its consent to the Bank to collect the fees from its Loro Account. If the balance on the Loro Account falls short of due receivables, the Bank shall charge the fees to the Loro Account. The Customer shall settle the resulting debit without undue delay, unless the Agreement provides otherwise.

3. Contract Termination and Loro account Cancellation

3.1. The contract shall be terminated and the Loro Account cancelled:

a) upon expiry of the period for which is was established;
b) based on a written agreement to cancel the Loro Account;
c) by termination of the Loro Account Agreement;
d) as provided by applicable legislation.

3.2. The Customer may terminate the Loro Account Agreement by giving a written notice to the Bank. The notice of termination of the Loro Account Agreement shall take effect on the third day following the date of its delivery to the Bank.

3.3. The Bank may terminate the Loro Account Agreement at any time without explaining the reason. The termination shall take effect at the end of the calendar month in which the Bank delivers the notice of termination of the Loro Account Agreement to the Correspondent Bank.

3.4. After the Loro Account is cancelled, the Bank shall dispose of the funds remaining on the Loro Account as instructed in writing by the Customer. If the Customer gives no instructions of that effect, the Bank shall keep the balance as the Correspondent Bank's account receivable from the Bank, accruing no interest. The Bank shall notify the former account holder in writing of, and of the date of, the cancellation of the Loro Account, and of the disposal of its balance.

3.5. Upon termination of their business relationship, the Bank and the Customer shall take any measures necessary to prevent any damages.

3.6. These General Business Terms & Conditions shall survive the termination of a business relationship between the Customer and the Bank and shall apply until the full discharge of their mutual obligations.

4. Liability for Damages

4.1. The Bank shall not be liable for any damage or loss incurred or suffered as a result of an interruption of its activities due to an event of force majeure, civil unrest, war, natural disasters, or any other events which are beyond the Bank's control despite reasonable effort.

4.2. The Bank shall not be liable for any damage incurred as a result of failures of telecommunications or other supporting services provided to the bank by third parties, which had an impact on the damage incurred.

4.3. The Bank shall not be liable for any damage incurred as a result of events under the control of the Customer or events for which the Customer is liable, or damages incurred as a result of a breach of or default on any of the Customer's obligations towards the Bank.

4.4. The Bank shall only be liable for damages it has caused. This rules out the principle of objective liability for business law relations. In case the Bank is held liable for damages to the Customer, the Bank shall not be required to pay any reimbursement for lost profits.

4.5. The Customer undertakes to compensate the Bank, at the Bank's request and without undue delay, for any damages and any expenses, including the Bank's legal expenses, the Bank incurs in connection with:

a) any breach of any of the Customer's contractual obligations towards the Bank, or the settlement of any disputes between the Bank and the Customer, in particular those relating to the recovery of the Bank's due receivables from the Customer (including court and administrative fees and other expenses related to court or out-of-court enforcement of receivables), or
b) court or out-of-court proceedings in which the Bank takes part in connection with court proceedings or a dispute between the Customer and third parties.

5.Communications and Delivery

5.1.The Bank's documents shall be delivered:

a) in person,
b) by mail,
c) by electronic communication media (fax, telex, e-mail, SWIFT, or other electronic media).

5.2. If delivered in person (including a courier service, and collection of documents by the Correspondent Bank's Authorised Persons at the Bank), a document shall be deemed delivered when handed over, including if the recipient refuses to receive it.

5.3. If delivered by mail, a document shall be deemed delivered on the third day from its mailing, if sent inland, and on the seventh day from its mailing, if sent abroad.

5.4. If delivered by fax, telex, or SWIFT, documents shall be deemed delivered when a "Sent" message is printed; documents sent by e-mail shall be deemed delivered when a message of their delivery is received.

5.5. The Customer shall specify to the Bank the addresses and numbers of telephone, fax, telex, and other electronic means of communication, at which the Bank shall send or notify all notices and documents, and shall notify the Bank of any change in such specifications without undue delay. If the Customer fails to supply this information to the Bank, any delivery or notice made or given at the last known address, or the last known number of a means of telecommunications, shall be deemed duly made or given.

5.6. The Bank may send insured or uninsured valuables, registered-mail letters with an insignificant declared value, at he Customer's risk, at its own discretion, in a usual manner used in the banking business.

5.7. The Customer shall notify the Bank without undue delay of any non-delivery of expected documents of any kind, in particular of documents concerning the execution of Payment Orders, and the receipt of sums, after the expiry of the period set for the delivery of the documents by mail. The Bank shall not be liable for any damages resulting from the non-delivery of a document.

5.8. The Bank and the Customer undertake to notify each other without undue delay of any events and facts relevant to heir relationship, and shall respond without undue delay to any inquiries of the other party regarding such matters.

5.9. Unless caused by the Bank's gross neglect, the Customer shall be liable for any damages incurred as a result of the use of post services, telephone, fax, telex, or other means of communication or transportation, in particular due to a loss, delay, or damage.

5.10. The Customer shall indemnify the Bank for any damages or losses incurred or suffered by the Bank as a result of its action on the basis of any notice or other information given to the Bank by the Customer or on its behalf. The Customer may not and will not assert any claim against the Bank, take any action, or initiate any proceedings against the Bank or its employees, with respect to any damage or loss the Customer might incur or suffer as a result of any action by the Bank based on any notice or other information received by the Bank from the Customer or on its behalf.

6. Confidentiality

The Bank shall treat all Customer's information as strictly confidential in accordance with relevant provisions of applicable legislation. The Bank shall not disclose any information concerning the Customer to any third person (other than the legal representatives of the Bank, who shall also treat the information as confidential), unless such disclosure is made in accordance with a court order and/or applicable legislation of the Slovak Republic.

7. Settlement of Disputes

Any disputes arising from legal actions taken in accordance with these Business Terms and Conditions and/or legal relations established under a legal relationship between the Bank and the Customer shall be settled by a general court of jurisdiction in the own of the Bank's registered office, unless specified otherwise in the relevant Agreement.

8. Final Provisions

8.1. The Bank may modify and amend these General Business Terms & Conditions and the Terms & Conditions at any time, in response o developments in the legal and business environment, and with respect o its business policy. The Bank shall publish the applicable text of these General Business Terms & Conditions. The Customer may express its disagreement with any amendment of these General Business Terms & Conditions by giving a written notice to the Bank delivered with 15 days from the publication of the General Business Terms & Conditions. Unless any such notice is given, the amendment shall take effect on the date specified therein if the Customer (i) takes any action vis-á-vis the Bank after the Publication of the General Business Terms & Conditions, or (ii) continues to accept the Bank's bank services in a way that its intention to carry on the contractual relationship with the Bank is obvious, or (iii) acts so as to confirm that it is familiar with the amended General Business Terms & Conditions. If the Customer, in the period set above, expresses its disagreement with a change in the General Business Terms & Conditions, and no agreement is reached, the Bank may terminate its contract with the Customer with immediate effect and declare its receivables from the Customer immediately due and payable.

8.2. These General Business Terms & Conditions take effect on 1st August 2002. All contracts made between the Customer and the Bank on and after the effective date hereof shall be governed by these General Business Terms & Conditions, unless provided otherwise therein. The Customer and the Bank agree that in any contracts governed by previously applicable General Business Terms & Conditions, these General Business Terms & Conditions shall replace the original General Business Terms & Conditions and similar documents of the Bank, and that such contracts shall be subject solely to these General Business Terms & Conditions, unless provided otherwise herein.

8.3. At your request, we will be glad to give you information on fees for transactions