Margin Risk Disclosure

[IMAGE] [IMAGE] [IMAGE] [IMAGE] Should You Consider Margin? =
For Customers with Margin Accounts: Margin Risk Disclosure TD Waterhous=
e is furnishing this information to you to provide some basic facts about =
purchasing securities on margin. Securities purchased on margin are TD Wat=
erhouse's collateral for the loan to you. If the securities in your accoun=
t decline in value, so does the value of the collateral supporting your lo=
an, and, as a result, TD Waterhouse can take action, such as issue a margi=
n call and/or sell securities or other assets in any of your accounts held=
with TD Waterhouse, in order to maintain the required equity in the acco=
unt. Please note that trading on margin may not be appropriate for all cus=
tomers. It is important that you fully understand the risks involved in tr=
ading securities on margin. These risks include the following: You ca=
n lose more funds than you deposit in the margin account. TD Waterhouse ca=
n force the sale of securities or other assets in your account(s). TD Wat=
erhouse can sell your securities or other assets without contacting you. Yo=
u are not entitled to choose which securities or other assets in your acc=
ount(s) are liquidated or sold to meet a margin call. TD Waterhouse can i=
ncrease its "house" maintenance margin requirements at any time and is not=
required to provide you advance written notice. You are not entitled to =
an extension of time on a margin call. Should You Consider Margin? If y=
ou are comfortable with the risks associated with margin, you may want to =
consider adding margin privileges to your account. Margin allows you to us=
e the equity in your account as collateral for a loan that may be used for=
the purchase of additional securities or for overdraft protection if you =
have check writing privileges. Add Margin Privileges to Your Account =
Please note that margin privileges may be added to Individual, Joint a=
nd other qualified account types. Certain accounts, including retirement (=
IRA) and custodial accounts, are not eligible for margin privileges. If y=
ou have any questions, please call a TD Waterhouse customer service repres=
entative at 1-800-934-4448 and press 4. [IMAGE] [IMAGE] ?2002 TD Wa=
terhouse Investor Services, Inc. Member NYSE/SIPC. Access to services an=
d your account may be affected by market conditions, system performance or=
for other reasons. Visit our web site for details. This e-mail is inte=
nded for TD Waterhouse customers only. If you have received this message i=
n error, please reply to this email or contact us at customerservice@tdwat=
erhouse.com . [IMAGE] =09