Towneley’s Internet Web Site ("Site") is intended to provide Towneley clients and other investors with general information regarding Towneley’s services and other specific information and data such as research reports and information pertaining to Towneley client accounts. This Site is provided for informational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security referenced in this Site. Past performance does not guarantee future results.

The information provided on this Site is for personal, non-commercial use. Towneley is not providing specific investment advice to any individual viewing the content of the Site and does not represent that the securities or services described herein are suitable for any specific investor. Investors are advised not to rely on any information contained in this Site in the process of making a fully informed investment decision. Users of the Site should contact Towneley before making any investment decisions. Towneley does not provide tax or legal advice through this Site. Neither our presentation of the information on the site nor your receipt of the information creates an advisor-client relationship or imposes any obligation on Towneley.

Information contained on this Site reflects the authors' analysis and other information available as of the publication date indicated. Towneley does not guarantee the accuracy, completeness or timeliness of such information and such information is subject to change. Towneley is under no obligation to update the information to reflect changes after the publication date. Furthermore, all information contained on this Site is believed to be reliable, but Towneley cannot and does not guarantee its accuracy, timeliness or completeness.

Our web site may not always be operational or free of functional defects. We disclaim any liability in connection with any actions taken or not taken based on any of our web site's content.

Any electronic communication sent to Towneley may not be secure and thus may be disclosed. Accordingly, we request that you do not send sensitive or confidential information electronically.