Term:	6 years and 2 weeks
Index:	S&P Global Infrastructure Index™
Capital Growth:	potential to receive a capital growth payment equal to any increase in the Index level at the end of the Term, subject to a maximum capital growth payment equal to 50% of the original investment.
Annual Performance Payments:	potential to receive a performance payment for each year of the Term equal to 2.85% of the original investment if the Annual Index Level for that year is equal to or higher than the Starting Index Level.
Early Payout:	if any Annual Index Level is at least 50% higher than the Starting Index Level, the Plan will mature early and the investor will receive a full repayment of the original investment plus the maximum capital growth payment equal to 50% of the original investment (the Early Payout).
Partial Capital Protection:	if the Final Index Level is at least 75% of the Starting Index Level (in other words, not more than 25% below), the investor will be repaid their original investment in full at maturity. If the Final Index Level is less than 75% of the Starting Index Level, the original investment will not be repaid in full. Instead, the proportion of the original investment to be repaid will be calculated based on a comparison of the Final Index Level to the Starting Index Level (expressed as a percentage). The result of this comparison will then be multiplied by 1.333 to determine the amount of the original investment to be repaid. Example: if the Final Index Level is 60% of the Starting Index Level (which means the Final Index Level is 40% lower than the Starting Index Level), the final payment will be equal to 80% of the original investment (60% x 1.333 = 80%), a 20% reduction in the original investment.
Taxation:	based on current legislation, any capital growth payment is expected to be treated as a capital gain and any performance payments are expected to be treated as income. The tax treatment of an investment in a Plan depends on an investor’s individual circumstances and is subject to change in future.
Counterparty:	UBS AG, London Branch is the issuer of the securities (the Securities). Meteor will acquire the Securities in order to meet the Plan’s objectives as described in this Plan Brochure. UBS AG currently has a Standard & Poor’s long term credit rating of A+. In the event the Counterparty goes into liquidation, collapses or does not pay the amounts due under the terms of the Securities, the investor may not receive the anticipated returns on their investment and may lose all or part of their original investment.
Plan Manager:	Meteor Asset Management Limited. Meteor is authorised and regulated by the Financial Services Authority.
Investors:	the Plan is eligible for investment directly and via ISA, SIPP and SSAS arrangements.
Intermediary Commission:	3%

Initial Index Level is the level of the Index at close of business on 22 December 2009
Final Index Level is the level of the Index at close of business on 22 December 2015
Annual Index Level is measured at close of business on 22 December in each year of the Plan's Term

Please note that:

• an investment in the Plan is a capital-at-risk investment;
• the return from the Plan depends on the performance of the Index and is subject to counterparty risks; and
• the basis for calculating Plan returns and partial capital protection assumes that investors remain invested for the entire Term. An investor making an early withdrawal from the Plan may receive less than his/her original investment.

The Plan is an investment offering the potential for capital returns and annual performance payments during the Term.

Capital Return

Explanation:

1. Potential Capital Growth: If the Final Index Level is up to 50% higher than the Starting Index Level, investors receive a capital growth payment equal to the percentage increase in the Index level as well as full repayment of the original investment.
2. Maximum Capital Return/Early Payout: If any Annual Index Level, including the Final Index Level, is at least 50% higher than the Starting Index Level, the Plan matures early. Investors receive the maximum capital growth payment of 50% of their original investment as well as full repayment of the original investment.
3. Partial Capital Protection: If the Final Index Level is at least 75% of the Starting Index Level, investors receive full repayment of their original investment.
4. Capital at Risk: If the Final Index Level has fallen by more than 25% of the Starting Index Level then the original investment is not repaid in full. In this case, the capital return will be 1.333 times the Final Index level.
   
   The capital return and final Index return shown in this table are examples only and do not forecast the future performance of the Index. The capital return and final Index return may be different from those illustrated.
   
   Starting Index Level = Closing level of Index on 22 Dec 2009
   Annual Index Level = Closing level of Index on 22 Dec in each year of the Term (including Final Index Level)
   Final Index Level = Closing level of Index on 22 Dec 2015

Annual Performance Payments

Potential for investors to receive a performance payment for each year of the Term equal to 2.85% of the investor's original investment if the Annual Index Level for that year is equal to or up to 50% higher than the Starting Index Level.

The example below is based on an investment of £10,000 and assumes that no Early Payout occurs. If an Early Payout occurs no annual performance payment is made for that year.

The Annual Index Levels used below are examples only and do not forecast the future performance of the Index.

Annual Performance Payment	Annual Index Level equal to or up to 50% higher than Starting Index Level	Annual Index Level below Starting Index Level
Year 1	£285	£0
Year 2	£285	£0
Year 3	£285	£0
Year 4	£285	£0
Year 5	£285	£0
Year 6	£285	£0
Potential Total over Term	£1,710	£0

Important Notice:

Returns from the Plan are dependent on the performance of the Index and the ability of the Counterparty to meet its obligations. A full description of the Plan can be found in the Plan Brochure.

This information is intended for professional financial advisers only and should not be relied upon by retail investors.

An investment linked to the performance of the Index gives investors exposure to listed infrastructure securities, a sub-set of the broader infrastructure sector. Infrastructure is an established asset class amongst institutional and private investors globally. These investors have identified certain specific qualities of infrastructure as an asset class, including:

• Longevity - infrastructure is there for the long term
• Resilience - infrastructure usage is less affected by economic cycles
• Stability - infrastructure companies are usually protected from competition

Investments offering exposure to infrastructure can therefore be relevant as a component for portfolio construction and investment allocation for investors focusing on:

Long term wealth planning

• As a result of the current economic climate it is crucial for investors to consider long term trends. Globally, investors are increasingly adding infrastructure to their investment allocation.
• Demand for infrastructure services is a "mega trend" driven by global population growth.

Portfolio diversification

• Disciplined portfolio diversification is important for investors to minimise exposure to potential crises and to protect and grow wealth over the long term.
• The global infrastructure sector is generally less volatile and with limited correlation to other investment sectors. Infrastructure assets are primarily essential community services attracting predictable long term demand and hence delivering stable long term earnings. Infrastructure securities, however, such as those that make up the Index can be affected by general equity market volatility.

Inflation protection

• Inflationary pressures are increasing as a result of diverse financial stimulus packages announced by major governments. Infrastructure as an investment can assist an investor to protect investment portfolios from changes in inflation and therefore can help to preserve wealth over the long term.
• Generally, global infrastructure assets are largely protected from inflation as prices for essential community services such as gas, electricity and water are often indexed to inflation. Listed infrastructure securities, however, can be impacted by the effect of inflation on equity markets.

Defensive investing

• Given the resilient and stable nature of global infrastructure, investors are increasingly viewing this asset class as an important cornerstone element of their investment strategy given its defensive nature.
• The global infrastructure asset class is expanding because governments around the world are increasingly selling existing infrastructure assets, as well as inviting investors to tender for major infrastructure projects, such as toll roads.

This offer closed on 17 December 2009.

• Fact sheet
• Brochure (including Terms and Conditions)
• Agency Terms of Business (Meteor Asset Management Limited)
• Future Value Consultants independent research report

To order Plan Brochures please call 0800 089 0206, fax to 0800 089 0306 or email to Macquarie@talismangroup.co.uk.

Philipp Graf
T: +44 (0)20 3037 2048
E: Philipp.Graf@macquarie.com

Ken Lewis
T: +44 (0)20 3037 2046
E: Ken.Lewis@macquarie.com

Brendan Scarf
T: +44 (0)20 3037 2014
E: Brendan.Scarf@macquarie.com

Hugh Baggie
T: +44 (0)20 3037 2859
E: Hugh.Baggie@macquarie.com

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