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Should You Consider Margin?

For Customers with Margin Accounts: Margin Risk Disclosure

TD Waterhouse is furnishing this information to you to provide some basic facts about purchasing securities on margin. Securities purchased on margin are
TD Waterhouse's collateral for the loan to you. If the securities in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, TD Waterhouse can take action, such as issue a margin 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 account. Please note that trading on margin may not be appropriate for all customers. It is important that you fully understand the risks involved in trading securities on margin. 

These risks include the following:


You can lose more funds than you deposit in the margin account.

TD Waterhouse can force the sale of securities or other assets in
your account(s).

TD Waterhouse can sell your securities or other assets without
contacting you.

You are not entitled to choose which securities or other assets in your account(s) are liquidated or sold to meet a margin call.

TD Waterhouse can increase 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.

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Should You Consider Margin?
If you are comfortable with the risks associated with margin, you may want to consider adding margin privileges to your account. Margin allows you to use 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 <http://tdwaterhouse.ip02.com/rd/9z1zue775eg89lsahmemot5499rbgj2f98vufvnp1o0>


Please note that margin privileges may be added to Individual, Joint and other qualified account types. Certain accounts, including retirement (IRA) and custodial accounts, are not eligible for margin privileges.

If you have any questions, please call a TD Waterhouse customer service representative at 1-800-934-4448 and press 4.

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?2002 TD Waterhouse Investor Services, Inc. Member NYSE/SIPC. 

Access to services and your account may be affected by market conditions, system performance or for other reasons. Visit our web site <http://tdwaterhouse.ip02.com/rd/9z1zhn1ms9ks6cjnr51u0nlj469act6a4b6u4d7a840> for details. 

This e-mail is intended for TD Waterhouse customers only. If you have received this message in error, please reply to this email or contact us at customerservice@tdwaterhouse.com <mailto:customerservice@tdwaterhouse.com>.
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