Hendrickson Financial Inc. (HFI) is committed to protecting your privacy and the confidentiality of your personal information.

As of January 1, 2004 all Canadian businesses are required to comply with the privacy principles set out by the "Canadian Personal Information Protection and Electronic Documents Act" (PIPEDA).

Our Privacy Policy is based on the following principles:

1. Accountability

Hendrickson Financial Inc. is responsible for maintaining and protecting the personal information under its control and shall designate one or more individuals to be accountable for the company's compliance with these principles.

2. Identifying Purposes For Information

We will identify the purposes for which personal information is collected, either before or at the time of collection.

3. Consent

We will only collect, use and disclose your personal information with your consent, except where otherwise permitted or required by law.

4. Limiting Collection

We will limit the collection of your personal information to only those details which are necessary for the purpose identified.

5. Limiting Use, Disclosure and Retention

Your personal information will only be used or disclosed for the purpose for which it was collected, unless you have otherwise consented, or when it is required or permitted by law. We will only retain your personal information for the period of time required to fulfill the purpose for which it was collected.

6. Accuracy

We will keep personal information we collect as accurate, complete and up-to-date as necessary to fulfill the purposes for which it was collected.

7. Safeguards

We will protect the personal information we collect with security safeguards appropriate to the sensitivity of the information.

8. Openness

HFI will provide information to individuals about our policies and practices relating to the management of personal information that is under our control.

9. Access

You may request access to your personal information at any time to review its content and accuracy and have it amended as appropriate.

10. Challenging Compliance

You may contact us with any questions, complaints or suggestions with respect to our privacy principles.

Why we collect and use personal information:

The information collected is required as per Securities legislation in order for HFI, as a registered portfolio management firm, to prudently perform its service commitment to you, the client. The "Know Your Client: rules and regulations specify the information needed.

The information is outlined as part of an Account Application which each client is required to fill and sing upon opening a new account. This information is sent to each client on an annual basis for review, update and signature.

How we use your information:

• To identify each client

• To understand and assess each client's ongoing needs and offer suggestions to meet those needs

• To process applications for clients and provide requested information and services

• For client communication, service and administration

• For internal, external and regulatory audit purposes

• to comply with legal and regulatory requirements

Sharing personal information with others:

The personal information is not shared with any other organization. The personal information is never sold or rented.

Safeguarding your information:

HFI employs physical, electronic and procedural safeguards to protect our systems and all personal information under our control against unauthorized access and use. All safety and security measures are appropriate to the sensitivity level of the information collected.

Our portfolio managers and administrative staff are required to maintain client confidentiality and may not use the information for any unauthorized purposes. Employees are governed by strict standards to ensure that personal information is secure and treated with the utmost care and respect.

Consent:

Providing us with your personal information is always your choice. When you request service from us, we ask that you provide information that enables us to perform this service,. In doing so, you consent to collection and use of such personal information for this purpose., you also authorize us to use and retain this personal information for as long as it may be required for the purpose described. Your consent remains valid even after termination of our relationship with you, unless you provide us with written notice that such consent is withdrawn.

Keeping information accurate:

Personal information will be as accurate, complete and up-to-date as possible. You have the right to access, verify and amend the the information we have about you. We rely on you to keep us informed of any changes, such as change of address, telephone number or any other circumstances.

Questions about Hendrickson Financial Inc.'s Privacy Policy may be directed to:

Hendrickson Financial Inc.

#203, 12 Blackfoot Road

Sherwood Park, AB   T8A 4P4

Attention: Privacy Manager

Fax: (780) 628-4798