Administrative Message – Sharing of Content

11/19/10 04:10PM EST

Dear Subscriber:

Thank you for subscribing to Hedgeye.  We pride ourselves on the unique approach we bring to investment research, and we are pleased that our subscribers recognize the value of our work.

From time to time, subscribers request permission to share individual pieces of our research with colleagues or associates, beyond what is covered under the basic User’s Agreement.  One of the value features of the Hedgeye product is its limited availability, and we are protective of our content in order to preserve the value of your subscription, as well as to guard our own intellectual property.

We recognize that there may be legitimate business reasons for our subscribers to occasionally share our work with their colleagues.  If you are interested in forwarding individual items to non-subscribers, we would be happy to review requests on a case-by-case basis.

Please forward requests to .

Your Hedgeye Risk Management Team

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