CEE. 30 September 2008, Marriott Hotel, Warsaw

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CEE To Register Tel: +44 (0)870 240 8859 Email:

com/spcee2008 30 September 2008, Marriott Hotel, Warsaw The

and networking needs of investment product distributors and

1 CEE To Register Tel: +44 (0) structuredproductsonline.com/spcee September 2008, Marriott Hotel, Warsaw The only conference specifically designed to meet the educational and networking needs of investment product distributors and buy-side institutions in the CEE region Speaker sponsors Co-sponsor Lunch sponsor Exhibitor

CEE T: +44 (0)870 240 8859 E: conf@incisivemedia.com Who should attend?

Any financial advisers who are currently using structured products, looking to get started, or just interested in learning more would benefit from this event.

Financial advisers Conference highlights include: v Workshop on pricing structured products led by a local practitioner v How can European Union regulations benefit the CEE structured products market?

2 CEE T: +44 (0) E: Who should attend? Professionals dedicated to providing advice and implementing financial investment strategies for mass market, HNW and Ultra HNW investors should attend. Any financial advisers who are currently using structured products, looking to get started, or just interested in learning more would benefit from this event. v Investment advisers v Private client advisers v Branch managers v Product distributors v Product marketers v Portfolio managers v Wealth managers v Financial planners v Investment brokers v Financial advisers Conference highlights include: v Workshop on pricing structured products led by a local practitioner v How can European Union regulations benefit the CEE structured products market? v How can structured products be used as flexible tools for wealth management? v Champagne roundtable: The future of structured products in CEE projections for 2009 Benefits of attending: v Network with peers and develop contacts over coffee breaks, lunch and cocktail reception v Address your questions to experts from a cross-section of the industry v Access valuable presentation documents through the web portal v Get actively involved in our panel discussions and express your views v Walk away with practical advice that can be immediately applied when back in the office Don t miss our complimentary workshop 8 9am Introduction to pricing structured products v Pricing investment products v What does pricing really tell you? v Theoretical vs. real value v Data considerations v Practical applications of pricing models v Choosing the right model and the dangers of over-sophistication Tuesday 30 September 8:00-9:00am led by Andrzej Daniluk Deputy Treasurer PZU S.A. Structured Products events schedule 2008 Structured Products Ireland 17 September 2008 IRELAND Structured Products West Coast USA September 2008

Officer NWAI (NEW WORLD ALTERNATIVE INVESTMENTS) Daryl French Senior

Zoárd Gázmár Head of Group Compliance MKB BANK Maciej Kossowski

Head of Structured Products NORDEA John McNaughton Managing Director

Jacek Ostas Director, Head of Structured Products BPH Benoit Sauvage

Péter Simon Business Development Director OTP FUND MANAGEMENT Pte.

of Finance CRACOW UNIVERSITY OF ECONOMICS AND JAGIELLONIAN

Aufenacker Deputy Managing Director Private Banking BERENBERG BANK

most visible trends in rapidly growing financial markets.

flexible enough to fulfil the needs of every investor.

neglected by professional portfolio management. Guy O.

3 structuredproductsonline.com/spcee2008 CEE Speakers: KEYNOTE: Mateusz Walczak Chief Executive Officer NWAI (NEW WORLD ALTERNATIVE INVESTMENTS) Daryl French Senior Vice President Commodity Division MACQUARIE BANK LIMITED Dr. Zoárd Gázmár Head of Group Compliance MKB BANK Maciej Kossowski Chief Executive Officer Wealth Solutions Holger Lunden Director, Head of Structured Products NORDEA John McNaughton Managing Director URSA BANK Piotr Minkina Head of Structured Products BANK MILLENNIUM Jacek Ostas Director, Head of Structured Products BPH Benoit Sauvage Financial Markets Adviser THE LUXEMBOURG BANKERS ASSOCIATION (ABBL) Péter Simon Business Development Director OTP FUND MANAGEMENT Pte. LTD Dr. hab. Andrzej Szopa Prof. of Finance CRACOW UNIVERSITY OF ECONOMICS AND JAGIELLONIAN UNIVERSITY Guy O. Aufenacker Deputy Managing Director Private Banking BERENBERG BANK (SWITZERLAND) AG Development of structured products is one of the most visible trends in rapidly growing financial markets. By granting an access to all asset classes, structured products are flexible enough to fulfil the needs of every investor. It s hard to imagine a modern financial institution with no presence in structured products. Structured products are well established tools which cannot be neglected by professional portfolio management. Guy O. Aufenacker, Deputy Managing Director Private Banking, BERENBERG BANK (SWITZERLAND) AG Mateusz Walczak, Chief Executive Officer, NWAI Structured Products Asia September 2008 Structured Products Private Banking 2 October 2008 Structured Products Italia October 2008 Structured Products Europe November 2008

4 Morning agenda Tuesday 30 September Registration and refreshments 8.00 Workshop: Introduction to pricing structured products v Pricing investment products v What does pricing really tell you? v Theoretical vs. real value v Practical applications of pricing models v Data considerations v Choosing the right model and the dangers of over-sophistication Andrzej Daniluk, Deputy Treasurer, PZU SA 9.00 Welcome address: STRUCTURED PRODUCTS MAGAZINE 9.10 Keynote address: An overview of the CEE structured products market v The impact of the credit crisis: why should we invest now? v Why should CEE invest in structured products? v Is CEE the right market for structured investment products? v What are the growth patterns and evolution process? v What are the benefits of structured products? Mateusz Walczak, Chief Executive Officer, NWAI (NEW WORLD ALTERNATIVE INVESTMENTS) 9.45 Georgia on my mind : introducing structured products into CEE markets the importance of cross border co-operation Maciej Kossowski, Chief Executive Officer, Wealth Solutions STREAM ONE Risk, regulation and portfolio management How can EU regulations benefit structured products? v MiFID, a new context for product distribution Overview of MiFID Impact on the distribution channel v Review of EU regulatory initiatives UCITs directive update and the work of CESR Non-harmonised funds and private placement regime substitute products Overview of regulatory agenda and challenges v Other EU initiatives and their impact on structured products ECB Target 2 Securities Financial turmoil and work of regulatory bodies and professional associations Benoit Sauvage, Financial Markets Adviser, THE LUXEMBOURG BANKERS ASSOCIATION (ABBL) Morning break and the opportunity to visit the exhibition Practical approach to MiFID implementation v How do we use MiFID in practice? v New customer-relevant obligations Client-categorisation (different obligations relating to different customers) Client-testing (appropriateness, suitability) New client-testing opportunities for service providers v New approach to handling conflicts of interest v Case study: Hungary Zoárd Gázmár, Head of Group Compliance, MKB BANK Investing in structured products: where to start v How to provide a good service from the beginning v Emerging trends currencies, underlyings, pay-offs and wrappers v Launching a product or offering an investment? v SIP s vs. other investment products: market timing Piotr Minkina, Head of Structured Products, BANK MILLENNIUM Luncheon address sponsored by Nordea v Nordea s experiences in the Nordic and Baltic Sea regional markets v What can CEE s structured products market learn from this? Holger Lunden, Director, Head of Structured Products, NORDEA Lunch with the opportunity to visit the exhibition STREAM TWO Innovation, underlyings and distribution New directions and innovations in equity-linked structured products v Using equity-linked structured products as a flexible investment tool for client portfolios v Hybrid derivatives: exploring the relationship between equity and other asset classes Techniques for educating investors on the risks and attributes of structured investments v How to meet the customer s expectations v Techniques for educating the customers v There is always a reason why a cheap option is cheap v The pricing: let s be honest before the legislators force us to be Commodity underlyings: different risks, great opportunities v Differences between commodities and other asset classes from a pricing perspective v Good story + good structure = great product v +26.8% in how did other assets perform? Daryl French, Senior Vice President, Commodity Division, MACQUARIE BANK LIMITED It is important to note that there are restrictions on representatives from investment banks and other structuring institutions attending this conference. To apply for a place from a limited number, please visit structuredproductsonline.com/events/application. For bookings contact: Christopher Lynas T: +44 (0) E: christopher.lynas@incisivemedia.com For speaking opportunities contact: Joanna Rejman T: +44 (0) E: joanna.rejman@incisivemedia.com For sponsorship opportunities contact: Esha Khanna T: +44 (0) E: esha.khanna@incisivemedia.com

5 Afternoon agenda Tuesday 30 September Structured products as flexible tools for wealth management v An overview of the structured products market v Examining the use of structured products in wealth management Determining optimal weighting within the portfolio Strategies for achieving optimal weighting Guy O. Aufenacker, Deputy Managing Director Private Banking, BERENBERG BANK (SWITZERLAND) AG Risk management issues in the CEE derivatives market: practical considerations v Factors of structured product practicality Elasticity Efficiency (value added creation) Compatibility to other financial instruments v Built-in risks of structured products v Structured products in risk hedging Dr. hab. Andrzej Szopa, Professor of Finance, CRACOW UNIVERSITY OF ECONOMICS and JAGIELLONIAN UNIVERSITY FX-linked structures: basic structures and latest developments v Conventions of FX as an asset class v Development of FX-linked investments products in Poland v Overview of popular payoffs and underlyings Jacek Ostas, Director, Head of Structured Products, BPH The advantages of products linked to indices for CEE countries v Allocation, access and diversification: different indices for different purposes v Equity, commodity and bond benchmark indices v Access to new asset classes: case hedge fund and hedge fund replication indices v Strategy indices: origin, uses and benefits for portfolio diversification Michel Danechi, Managing Director, Head of Emerging Markets Equities, EMEA, LEHMAN BROTHERS Interactive business networking session An effective form of networking designed to build lasting business relationships Afternoon break and the opportunity to visit the exhibition Asset allocation and portfolio management using structured products v Evaluating the changing investment environment v Analysing the hottest asset classes v Integrating alternative asset classes into an existing portfolio v Managing alternative investment portfolios v Fees and cost structures Champagne roundtable: The future for structured products in CEE projections for 2009 v How are investor attitudes to structured products changing? v Market predictions for the next few years v Theories, examples, European comparison v Lessons learnt Péter Simon, Business Development Director, OTP FUND MANAGEMENT Pte. LTD John McNaughton, Managing Director, URSA BANK Closing remarks and cocktail reception Speaker sponsors Comparing and contrasting structured products and exchangetraded funds v ETFs versus structured products v ETFs: low cost, transparency and high liquidity v SIPs: short-term and fixed income instruments v SIPs pricing and transparency vs. ETFs that can be easily tracked on an exchange v Accessing emerging markets and commodities through ETFs Lehman Brothers (ticker symbol: LEH), an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high net worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. The Firm is headquartered in New York, with regional headquarters in London and Tokyo, and operates in a network of offices around the world. For further information about Lehman Brothers services, products and recruitment opportunities, visit the Firm s Web site at Wealth Solutions specialises in structured products. We offer investment solutions that, according to major global financial institutions, should provide high profits to our customers, irrespective of current situation on financial markets. Our mission is to create modern investing philosophy using the best complied solutions. Co-sponsor The Macquarie Bank Group is a diversified international provider of specialist financial and investment banking services with more than 8,500 people 24 countries. Our approach is driven by a deliberate focus on areas of business where our particular skills and expertise deliver a real advantage for clients. As a result we have established leading positions in a diverse range of market segments and regions internationally. Macquarie Bank is listed on the Australian Stock Exchange with a market capitalisation of 6.2bn as at 31 March The Macquarie Bank Group s total assets are 43.7bn with a further 57.8bn in assets under management. Macquarie s Commodity Markets Division offers structured products, risk management and financing solutions in energy, metals, and agricultural products to clients spread across Europe, the Americas, Australia and Asia. Lunch sponsor Nordea Markets is a product responsible division within Nordea s Corporate and Institutional Banking, handling trading, research and sales of: Foreign exchange and money market products and derivatives; Fixed income products and derivatives; Credit products and derivatives; Equity products and derivatives; Capital markets products and derivatives; Commodity products and derivatives. Nordea Markets presently comprises some 850 employees. Major centres and regional sales in the four Nordic countries. Presence in Estonia, Latvia, Lithuania, Poland, London and New York. Exhibitor NumeriX is the recognized independent leader in multi-platform, cross asset derivatives pricing and risk management software for fixed income, credit, foreign exchange and equity. More than 200 clients across 25 countries rely on NumeriX for speed and accuracy in valuating and pricing their vanilla and exotic derivatives. Trading and risk platform vendors leverage NumeriX analytics to gain a time to market advantage by embedding the power of NumeriX into their systems. Founded in 1996, the company is privately held and has offices in New York, Chicago, Santa Fe, Toronto, London, Paris, Singapore and Tokyo. NumeriX has a financial engineering and quantitative team composed largely of PhDs on the same scale as the very largest of financial institutions. For more information visit SGAM Alternative Investments (SGAM AI), a wholly-owned subsidiary of Societe Generale Asset Management, has developed successfully by combining active asset management processes with a capital market culture that mixes innovation and risk management. With 41.8bn* in AUM, 398 employees* worldwide and the strategic and financial backing of Société Générale Group, SGAM AI has become one of the leading global specialists in alternative investments. SGAM Group as a whole (SGAM AI, TCW and BAREP) manages 55.8bn* in alternative investments assets. Based in Paris, London, Tokyo and Hong Kong, SGAM AI Structured Asset Management Group manages 31.4bn*, with 145 professionals*, through guaranteed structured products, structured credit products, index funds & ETFs.

6 30 September 2008, Marriott Hotel, Warsaw Code: VIP No: Booking Details Registration Details Please complete your details below in BLOCK CAPITALS title first name last name job title/position department address city country telephone For buy-side institutions*: VAT company post/zip code fax Please do not cover this box as it contains important marketing information Quote this VIP number to save 100! For other institutions** (apply for a place at VAT CEE * Buy-side institutions include private banks, asset managers, institutional investors, and family offices ** Other institutions include sell-side institutions: structuring asset managers, consultants, technology vendors and law firms. For more than 3 delegate bookings, please contact Customer Services to discuss a group discount on tel: + 44(0) Register now For European office registration Post: Complete this form and send it to Conference Administration at: Incisive Financial Publishing Ltd Haymarket House, Haymarket, London, SW1Y 4RX, UK Telephone: +44 (0) Fax: +44 (0) conf@incisivemedia.com For US & Canada office registration Post: Complete this form and send it to Conference Administration at: Incisive RWG Inc, 270 Lafayette Street, Suite 700, New York, NY 10012, USA Telephone: +1 (212) E-Fax: +1 (646) conf@incisivemedia.com Book Online structuredproductsonline.com/ spcee2008 Visit the Incisive Media web site for an update on our forthcoming conferences, courses and for information on our magazines/books at incisive-events.com In order that we process your registration with maximum efficiency, we request that a copy of this booking form accompanies your payment. Your registration fee includes morning refreshments, lunch, afternoon refreshments, your conference/seminar materials and the conference cocktail party. If you require an invoice please inform us stating whether you need an original or a fax copy. We accept company cheques, credit cards and bank transfers. Please allow a minimum of seven working days for a bank transfer to reach us and phone or fax us when it has been sent. Please state the event name and delegate name to which it relates. Venue approving manager training manager I enclose a cheque payable to Incisive Financial Publishing Ltd. Please debit my amex visa maestro mastercard 4822/08 Warsaw Marriott Hotel Al. Jerozolimskie 65/79 Warsaw, Poland Tel: (48) Fax: (48) wawpl-warsaw-marriott-hotel/ issue number: valid from date: expiry date Please see website for more information regarding hotel accommodation. card no security no. account address if different from above signature date Incisive Finanicial Publishing Ltd. VAT No: GB For companies in EU member states only: Please write your VAT/TVA/BTW/IVA/ MCMS/MWST/FPA number here Warning: Structured Products is a registered trademark, and the titles, contents and style of this brochure are the copyright of Incisive Media. We will act on any infringement of our rights anywhere in the world. Incisive Media. Cancellation: A refund (less 10% administration fee) will be made if notice of cancellation is received in writing three weeks before the event. We regret that no refunds can be given after this period. A substitute delegate is always welcome at no extra charge. Disclaimer: The program may change due to unforeseen circumstances, and Incisive Media reserves the right to alter the venue and/or speakers. Incisive Media accepts no responsibility for any loss or damage to property belonging to, nor for any personal injury incurred by, attendees at our conferences, whether within the conference venue or otherwise. Data Protection: By registering for Structured Products CEE Incisive Media will send you further information relating to this event. In addition we will send you information about our other relevant products and services which we believe will be of interest to you. If you do not wish to receive other relevant information from Incisive Media via a particular medium please tick the following relevant boxes: mail ; phone ; fax ; . Incisive Media will also allow carefully selected third parties to contact you about their products and services. If you do not wish to receive information from third parties via any of the following media please tick the relevant boxes: mail ; phone ; Please tick if you are happy to receive relevant information from carefully selected third parties by and fax.

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