Markets in Financial Instruments Directive (MiFID)

MiFID is European Union Legislation which must be implemented in all member states and is driving the single largest change to the regulation of the investment industry in the last 20 years. Its objectives are the development of a pan-European market in investment services through the establishment of a singles set of European regulatory rules.

Amongst its impacts are changes in the way trades can be executed, the level of protection afforded to investors and it particularly focuses on pre and post trade transparency in the Equity market. It is effective from 1st November 2007.

As stated in the letter you received in early September titled "CLIENT CATEGORISATION AND ORDER EXECUTION UNDER MiFID", in order to meet the various obligations under the MiFID regulatory regime (effective 1 November 2007), we include below various documents for your reference:

• DEFINITION OF PROFESSIONAL CLIENT
  
• ABN AMRO BANK N.V. ORDER EXECUTION POLICY FOR PROFESSIONAL CLIENTS
  
• Conflicts of Interest Summary Policy
  
• Execution Venues
  
• Terms Of Business ABN AMRO Bank NV - Netherlands Offices
  
• Terms Of Business ABN AMRO Bank NV - London Branch
  
• Limit order publication