With effect from Mar 1, 2013, customers who trade shares issued by Italian resident companies (e.g. Prada S.p.A. (stock code: 1913.HK)) which listed on The Stock Exchange of Hong Kong Limited via our Bank are required to pay for the new Financial Transactions Tax (FTT) that introduced by Italian authorities. The tax rate in 2013 is 0.22%. Customers are advised to visit the web site of HKEx for the relevant latest circulars issued by the relevant listed companies. Regarding the FTT for respective transactions, since the above tax rate and calculation method etc. of the FTT may be subject to changes or further clarification, the Bank will adopt a special arrangement, holding the respective amount for FTT (the “Hold Amount”) in the settlement account one business day after the trade day until further notice. The Hold Amount is calculated based on total gross quantity of buy trade(s) on each trade day  x  weighted average purchase price  x  0.22% (tax rate in 2013). If the above tax rate and calculation method etc. of the FTT is different from the finalized calculation method announced by Italian authorities, our Bank will base on the finalized calculation method to calculate the FTT.