DEVO Web Page Disclosure

The information provided in the following pages is not to be construed as an offer to sell or a solicitation to buy the commodities herein named. The factual content of the DEVO web pages has been obtained from sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to its accuracy. You should refrain from entering into transactions in futures and option contracts unless you fully understand the terms and risks of the transactions, including the extent of your potential risk of loss, which can be equal to, or in certain instances greater than, the full amount of your initial investment. The quotes provided by DEVO Capital in its pricing sheets are indications only. The quotes do not reflect bid/ask spreads and commissions.

Risk Disclosure If You Trade Commodities

The risk of loss in trading commodities can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. In considering whether to trade or to authorize someone else to trade for you, you should be aware of the following:

If you purchase a commodity option you may sustain a total loss of the premium and of all transaction costs.

If you purchase or sell a commodity future or sell a commodity option you may sustain a total loss of the initial margin funds and any additional funds that you deposit with you broker to establish or maintain your position. If the market moves against your position, you may be called upon by your broker to deposit a substantial amount of additional margin funds, on short notice, in order to maintain you position. If you do not provide the required funds within the prescribed time, your position may be liquidated at a loss, and you will be liable for any resulting deficit in your account.

Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, when the market makes a "limit move".

The placement of contingent orders by you or your trading advisor, such as a "stop-loss' or "stop-limit" order, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.

A "spread" position may not be less risky than simple "long" or "short" position.

The high degree of leverage that is often obtainable in commodity trading can work against you as well as for you. The use of leverage can lead to large losses as well as gains.