Goldman Sachs Investment Research Legal Disclaimer

Goldman Sachs Global Investment Research

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The following disclosures relate to relationships between The Goldman Sachs Group, Inc. (with its affiliates, “Goldman Sachs”) and companies covered by the Global Investment Research Division of Goldman Sachs and referred to in research products.

Ratings, coverage groups and views and related definitions

Buy (B), Neutral (N), Sell (S) - Analysts recommend stocks as Buys or Sells for inclusion on various regional Investment Lists. Being assigned a Buy or Sell on an Investment List is determined by a stock’s return potential relative to its coverage group as described below. Any stock not assigned as a Buy or a Sell on an Investment List is deemed Neutral. Each regional Investment Review Committee manages various regional Investment Lists to a global guideline of 25%-35% of stocks as Buy and 10%-15% of stocks as Sell; however, the distribution of Buys and Sells in any particular coverage group may vary as determined by the regional Investment Review Committee. Regional Conviction Buy and Sell lists represent investment recommendations focused on either the size of the potential return or the likelihood of the realization of the return.

Return potential represents the price differential between the current share price and the price target expected during the time horizon associated with the price target. Price targets are required for all covered stocks. The return potential, price target and associated time horizon are stated in each report adding or reiterating an Investment List membership.

Coverage groups and views: A list of all stocks in each coverage group is available by primary analyst, stock and coverage group at http://www.gs.com/research/hedge.html. The analyst assigns one of the following coverage views which represents the analyst’s investment outlook on the coverage group relative to the group’s historical fundamentals and/or valuation.

Attractive (A). The investment outlook over the following 12 months is favorable relative to the coverage group's historical fundamentals and/or valuation.
Neutral (N). The investment outlook over the following 12 months is neutral relative to the coverage group's historical fundamentals and/or valuation.
Cautious (C). The investment outlook over the following 12 months is unfavorable relative to the coverage group's historical fundamentals and/or valuation.

Other ratings/identifiers
NR	Not Rated. The investment rating and target price, if any, have been removed pursuant to Goldman Sachs policy when Goldman Sachs is acting in an advisory capacity in a merger or strategic transaction involving this company and in certain other circumstances.
CS	Coverage Suspended. Goldman Sachs has suspended coverage of this company.
NC	Not Covered. Goldman Sachs does not cover this company.
RS	Rating Suspended. Goldman Sachs Research has suspended the investment rating and price target, if any, for this stock, because there is not a sufficient fundamental basis for determining an investment rating or target. The previous investment rating and price target, if any, are no longer in effect for this stock and should not be relied upon.
NA	Not Available or Not Applicable. The information is not available for display or is not applicable.
NM	Not Meaningful. The information is not meaningful and is therefore excluded.

Ratings, coverage views and related definitions prior to June 26, 2006

Our rating system requires that analysts rank order the stocks in their coverage groups and assign one of three investment ratings (see definitions below) within a ratings distribution guideline of no more than 25% of the stocks should be rated Outperform and no fewer than 10% rated Underperform. The analyst assigns one of three coverage views (see definitions below), which represents the analyst's investment outlook on the coverage group relative to the group's historical fundamentals and valuation. Each coverage group, listing all stocks covered in that group, is available by primary analyst, stock and coverage group at http://www.gs.com/research/hedge.html

Definitions
OP	Outperform. We expect this stock to outperform the median total return for the analyst's coverage universe over the next 12 months.
IL	In-Line. We expect this stock to perform in line with the median total return for the analyst's coverage universe over the next 12 months.
U	Underperform. We expect this stock to underperform the median total return for the analyst's coverage universe over the next 12 months.

Other definitions

Coverage view. The coverage view represents each analyst or analyst team's investment outlook on his/her/their coverage group(s). The coverage view will consist of one of the following designations:

CIL

Current Investment List. We expect stocks on this list to provide an absolute total return of approximately 15%-20% over the next 12 months. We only assign this designation to stocks rated Outperform. We require a 12-month price target for stocks with this designation. Each stock on the CIL will automatically come off the list after 90 days unless renewed by the covering analyst and the relevant Regional Investment Review Committee.

Previous rating system (prior to November 4, 2002)

Investment ratings: Definitions
RL	Recommended List. Expected to provide price gains of at least 10 percentage points greater than the market over the next 6-18 months.
LL	Latin America Recommended List. Expected to provide price gains at least 10 percentage points greater than the Latin America MSCI Index over the next 6-18 months.
TB	Trading Buy. Expected to provide price gains of at least 20 percentage points sometime in the next 6-9 months.
MO	Market Outperformer. Expected to provide price gains of at least 5-10 percentage points greater than the market over the next 6-18 months.
MP	Market Performer. Expected to provide price gains similar to the market over the next 6-18 months.
MU	Market Underperformer. Expected to provide price gains of at least 5 percentage points less than the market over the next 6-18 months.

Legal/policy ratings and other abbreviations: Definitions

Not Rated. The investment rating and target price, if any, have been suspended temporarily. Such suspension is in compliance with applicable regulation(s) and/or Goldman Sachs policies in circumstances when Goldman Sachs is acting in an advisory capacity in a merger or strategic transaction involving this company and in certain other circumstances.

Not Covered. Goldman Sachs does not cover this company.

Coverage Suspended. Goldman Sachs has suspended coverage of this company.

Rating Suspended. Goldman Sachs Research has suspended the investment rating and price target, if any, for this stock, because it does not currently have a sufficient basis for determining a rating or target. The previous investment rating and price target, if any, are no longer in effect for this stock and should not be relied upon.

Not Available or Not Applicable. The information is not available for display or is not applicable.

Not Meaningful. The information is not meaningful and is therefore excluded.