PLEASE READ THE FOLLOWING TERMS AND CONDITIONS CAREFULLY.
THEY GOVERN YOUR ACCESS AND USE OF THIS WEBSITE.

TEJAS SECURITIES GROUP, INC. ("TEJAS", "WE", "US" AND "OUR") PROVIDES THE MATERIALS CONTAINED AT OUR SITE ON THE WORLD WIDE WEB (THE SITE) AS A SERVICE TO OUR VISITORS. WE REQUIRE THAT ALL VISITORS TO THE SITE ADHERE TO THE FOLLOWING TERMS AND CONDITIONS. BY ACCESSING OR USING THIS SITE, YOU AGREE TO BE BOUND BY THESE TERMS AND CONDITIONS WITHOUT LIMITATION OR QUALIFICATION. WE MAY REVISE THESE TERMS AND CONDITIONS AT ANY TIME BY UPDATING THIS POSTING, WHICH REVISIONS WILL BE BINDING UPON ALL VISITORS TO THE SITE. YOU SHOULD THEREFORE VISIT THIS POSTING TO REVIEW THESE TERMS AND CONDITIONS FROM TIME TO TIME AS YOU VISIT THE SITE. FOR PURPOSES OF THESE TERMS AND CONDITIONS, REFERENCES TO TEJAS INCLUDE OUR AFFILIATES AND EMPLOYEES.

WE EXPRESSLY DISCLAIM ALL LIABILITY FOR THE USE OR INTERPRETATION BY OTHERS OF INFORMATION CONTAINED IN THIS SITE. DECISIONS BASED ON INFORMATION CONTAINED IN THIS SITE ARE THE SOLE RESPONSIBILITY OF THE VISITOR, AND IN EXCHANGE FOR USING THIS SITE THE VISITOR AGREES TO HOLD TEJAS AND OUR AFFILIATES HARMLESS AGAINST ANY CLAIMS FOR DAMAGES ARISING FROM ANY DECISIONS THAT THE VISITOR MAKES BASED ON SUCH INFORMATION. THIS SITE IS FOR INFORMATIONAL PURPOSES ONLY AND NOTHING CONTAINED IN THIS SITE CONSTITUTES INVESTMENT ADVICE, AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITY WHICH MAY BE REFERENCED IN THE SITE.

TEJAS SECURITIES GROUP, INC. IS NOT REGISTERED AS A BROKER/DEALER IN ALL STATES. THIS SITE IS INTENDED FOR USE BY RESIDENTS OF STATES WHERE TEJAS SECURITIES GROUP, INC. IS REGISTERED AS A BROKER/DEALER OR OTHERWISE EXEMPTED FROM SUCH REGISTRATION.

A. No Warranties. Although we attempt to provide accurate reports, analysis, information, names, images, pictures, logos, icons, documents and materials (collectively, the Contents) on this Site, we make no representation, endorsement or warranty that such Contents are accurate, complete or suitable for any particular purpose. Furthermore, although we endeavor to provide accurate information in a secure format, the potential exists for the falsification or alteration of the posted information after it has been published on the Site by third parties beyond our control. THIS SITE AND ITS CONTENTS ARE PROVIDED ON AN AS IS BASIS. USE OF THIS SITE AND ITS CONTENTS IS AT THE USERS SOLE RISK. THIS SITE AND ITS CONTENTS ARE PROVIDED WITHOUT ANY REPRESENTATIONS, ENDORSEMENTS OR WARRANTIES OF ANY KIND WHATSOEVER, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF TITLE OR ACCURACY AND ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR ACCURACY WITH THE SOLE EXCEPTION OF WARRANTIES (IF ANY) WHICH CANNOT BE EXPRESSLY EXCLUDED UNDER APPLICABLE LAW. AS NOTED BELOW, WE ALSO MAKE NO REPRESENTATIONS, ENDORSEMENTS OR WARRANTIES, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO ANY WEBSITE OPERATED BY A THIRD PARTY.

B. Limitation of Liability. IN NO EVENT WILL TEJAS OR OUR AFFILIATES, CONTRACTORS OR THEIR RESPECTIVE EMPLOYEES BE LIABLE FOR ANY DAMAGES, INCLUDING, WITHOUT LIMITATION, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, WHETHER ARISING UNDER A CONTRACT, TORT OR ANY OTHER THEORY OF LIABILITY, ARISING IN CONNECTION WITH ANY PARTYS USE OF THIS SITE OR IN CONNECTION WITH ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS, LINE SYSTEM FAILURE, LOSS OF DATA, OR LOSS OF USE RELATED TO THIS SITE OR ANY WEBSITE OPERATED BY ANY THIRD PARTY OR ANY CONTENT OF THIS SITE OR ANY OTHER WEBSITE, EVEN IF WE ARE AWARE OF THE POSSIBILITY OF SUCH DAMAGES.

TEJAS IS NOT LIABLE FOR ANY HARM CAUSED BY THE TRANSMISSION, THROUGH THE CONTENTS, OF A COMPUTER VIRUS, OR OTHER COMPUTER CODE OR PROGRAMMING DEVICE THAT MIGHT BE USED TO ACCESS, MODIFY, DELETE, DAMAGE, CORRUPT, DEACTIVATE, DISABLE, DISRUPT, OR OTHERWISE IMPEDE IN ANY MANNER THE AVAILABILITY OF THE CONTENTS OR ANY OF THE USERS SOFTWARE, HARDWARE, DATA OR PROPERTY.

C. Use of the Contents: The Contents are included in this Site solely for your individual use. You may not copy (other than a copy for your own internal use), modify, distribute, transmit, display, perform, reproduce, transfer, resell or republish any of the Contents of this Site without Tejas prior written consent in each instance, which may be withheld in our sole and absolute discretion. Your access to the Contents at this Site may be terminated without notice at the sole and absolute discretion of Tejas.

The Contents are generally available on this Site 24 hours a day, 7 days a week, but we make no representation as to the Sites overall availability or continued operation. We retain the right to make this Site unavailable from time to time for any reason, including scheduled maintenance as well as equipment or software failures. We are under no legal obligation to continue to provide such information via the Internet and reserve the right, at any time and without prior notice, to discontinue such publication. You agree that we shall not be liable for, and hereby release us from, any damages arising from any interruption, suspension or termination of this Site.

D. Copyrights, Work Product and Other Intellectual Property. Except for links to other websites and the contents thereof noted below, all Contents of this Site, including research reports, company analyses, analysts comments, work product of any of our employees, graphics, icons and overall appearance of this Site, are the sole exclusive property of Tejas and/or our affiliates. The posting of the Contents of this Site neither constitutes a waiver of any of our proprietary rights or any other trademarks, servicemarks, patents, and other intellectual property, nor a transfer by implication, estoppel, or otherwise of any such rights or of any license to the Site user or to any third party. Contents of this Site are protected by United States and international copyright law both as individual works and as a collection and by United States and international trademark laws. You agree not to delete any copyright, trademark or similar notice from any Contents you obtain from this Site. The display of our trademarks within this Site does not grant a license of any kind to the reader. Any downloading of material contained in this Site, or of any site to which this Site links, may be a violation of federal trademark and copyright laws. Any downloading of Content on this Site or any website linked to this Site may be a violation of federal and other trademark laws and federal copyright laws. Furthermore, you may not provide a link to this Site without our prior written consent.

E. Links to Other Websites. The links between this Site and other Websites are operated by third parties. We have no control over any such other Websites or the links contained in such Websites, the contents therein or the products and/or services offered and we are not responsible for the content of any linked site or any link contained in a linked site. The existence of any such links shall not constitute an authorization, sponsorship, affiliation, endorsement, representation or warranty by us of such Websites, the contents of the Websites, the products or services of the Websites or the operators of the Websites. We are providing these links only as a convenience to you. We have not tested any information, products or software found on such Websites and therefore cannot make any representations as to the accuracy, subject matter, quality, timeliness or any other matter whatsoever with respect thereto. We reserve the right to terminate any link or linking program at any time. If you decide to access any of the third party sites linked to this Site, you do this entirely at your own risk. It is up to you to take precautions to ensure that whatever you select is free of such items as viruses, worms, trojan horses and other items of a destructive nature. We disclaim responsibility for the privacy, policies and customer information practices of third-party internet sites hyperlinked to our Site.

IN NO EVENT WILL TEJAS BE LIABLE TO ANY PARTY FOR ANY DIRECT, INDIRECT, SPECIAL OR OTHER CONSEQUENTIAL DAMAGES FOR ANY USE OF ANY HYPERLINKED WEBSITE, INCLUDING WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF PROGRAMS OR OTHER DATA ON YOUR INFORMATION HANDLING SYSTEM OR OTHERWISE, EVEN IF WE ARE EXPRESSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

F. Notice to Investors. TEJAS DOES NOT WARRANT OR GUARANTEE THE ACCURACY OR THE COMPLETENESS OF INFORMATION PROVIDED HEREIN WITH RESPECT OT THE SHARE PRICE OF TEJAS AND OTHER INVESTMENT-RELATED INFORMATION THAT MAY BE AVAILABLE BY HYPERLILNK OR OTHERWISE. UNDER NO CIRCUMSTANCES WILL TEJAS BE LIABLE FOR ANY LOSS OR DIRECT, INDIRECT, PUNITIVE SPECIAL OR CONSEQUENTIAL DAMAGES CAUSED BY RELIANCE ON THIS INFORMATION OR FOR THE RISKS OF THE STOCK MARKET.

Forward-Looking Statements

Information or statements provided by Tejas from time to time at the Site or otherwise may contain certain forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Such forward-looking statements may be identified by the use of terminology such as may, will, expect, anticipate, intend, plan, believe, estimate, goal, target, forecast, project, continue or similar expressions and may involve certain risks or uncertainties and are qualified in their entirety by the cautionary statements provided below. These cautionary statements are being made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995 (the Act) and with the intention of obtaining the benefits of the safe harbor provisions of the Act for any such forward-looking information.

We caution investors not to place undue reliance on any forward-looking statements, as they speak only of our views as of the date the statement was posted at this Site. We caution you that any forward-looking information provided by us or on our behalf is not a guarantee of future performance. Actual results may differ materially as a result of various factors, many of which are outside of our control, including the rapidly changing business environment and our limited administrative, operational, financial and other resources; our dependence on third party vendors to provide critical services; unanticipated changes in economic or political trends impacting business and finance, particularly those resulting in downward changes in volumes and price levels of securities transactions; customer defaults on indebtedness to us; our potential failure to comply with various regulatory requirements or to maintain net capital levels; and other factors discussed in our annual report on Form 10-K and other reports filed with and available from the Securities and Exchange Commission.

We wish to caution investors that other factors in the future may prove to be important in affecting our results of operations. New factors may emerge from time to time and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

G. Transmissions to and from this Site. Except where expressly indicated otherwise, transmissions to and from this Site or directly to us, including e-mails, are not sent in a secure form and can be intercepted by third parties and may not be immediately received by the appropriate business unit at Tejas. Please do not use e-mail to send us communications which contain confidential information, which we require to be in writing, or which need our immediate attention. Instead, please call Kurt Morales at 512-306-5284 or write us instead at this address: 8226 Bee Caves Road, Austin, TX 78746. Any transmission to this Site including e-mails shall be deemed and remain the property of Tejas. We shall be free to use, for any purpose, any ideas, concepts, know-how, techniques provided by a Site user to us through this Site.

H. Disclosure: Tejas may disclose any information provided to us, including any information created, input or developed in connection with the use of the Site, to its employees, representatives, officers, agents and affiliates, as well as governmental entities or any other third party agent or service provider (a) for any purpose related to the conduct of Tejas business or the offer, provision, or maintenance of such information; (b) to comply with applicable rules, orders, subpoenas or other legal process, or in order to give information to any government agent or official requesting such information; or (c) for any other legitimate business purpose.

I. User Password and Security: PARTICULAR AREAS OF THE SITE WILL BE RESTRICTED TO THOSE PERSONS WHO REGISTER WITH TEJAS DIRECTLY. A PASSWORD WILL BE REQUIRED TO ACCESS SUCH AREAS. THE USER IS RESPONSIBLE FOR MAINTAINING THE CONFIDENTIALITY OF THE PASSWORD AND IS FULLY RESPONSIBLE FOR ALL ACTIVITIES THAT OCCUR UNDER THE PASSWORD. THE USER SHALL IMMEDIATELY NOTIFY TEJAS OF ANY UNAUTHORIZED USE OF THE PASSWORD OR ANY OTHER BREACH OF SECURITY AND WILL SIGN OFF AT THE END OF EACH SESSION. TEJAS RESERVES THE RIGHT TO BLOCK ACCESS TO THE RESTRICTED AREA FOR ANY REASON.

J. Available Only Where Permitted by Law. The services of Tejas and our affiliates are available only in the United States and other countries where permitted by law.

K. Modifications. We may, at any time and from time to time, make modifications, changes and alterations to the Contents of this Site, including these Terms and Conditions, without prior notice, which modifications shall be effective immediately upon posting. You are responsible for regularly reviewing these Terms and Conditions. Your continued use of the Contents and this Site following any modifications, changes or alterations shall constitute your acceptance of such modifications, changes or alterations.

L. Laws and Regulations. User access to and use of this Site is subject to all applicable federal, state and local laws and regulations. Those who choose to access this Site are solely responsible for determining and complying with applicable laws. Unauthorized use of this Site is prohibited and violaters can be prosecuted under federal and state laws. These Terms and Conditions shall be governed by and construed in accordance with the laws of the State of Texas, without regard to the conflict of laws thereof, and to the laws of the United States.

M. Venue. Any dispute in any way relating to the information contained on this Site or the construction or enforceability of these provisions shall be resolved by a district court located in Travis County, Texas. By using or viewing the information on this website, you irrevocably agree to submit to personal jurisdiction in a district court located in Travis County, Texas and irrevocably waive any right to a trial by jury. This provision shall not be construed to imply that any person who uses or views this Site may bring any claim or cause of action against the owners or operators of this Site.

N. Waiver. No waiver by Tejas of any right under or term or provision of these Terms and Conditions will be deemed a waiver of any other right, term or provision of these Terms and Conditions at that time or a waiver of that or any other right, term or provision of these Terms and Conditions at any other time.

O. Violations of Terms and Conditions. We reserve the right to seek all remedies available at law and equity for violations of these Terms and Conditions, including the right to block access from a particular Internet address to the Site. YOU AGREE TO INDEMNIFY, DEFEND AND HOLD HARMLESS TEJAS FROM ANY LIABILITY, LOSS, CLAIM AND EXPENSE, INCLUDING ATTORNEYS FEES, RELATED TO YOUR VIOLATION OF THESE TERMS AND CONDITIONS OR YOUR USE OF THE SERVICES AND INFORMATION PROVIDED AT THE SITE.

P. Service Contact. You may contact us by e-mail or by phone at 800.846.6803 or by mail to cbiddle@tejassec.com, Attention: Craig Biddle with questions or problems with this Site.

Terms and Conditions for Password Restricted Area

Use of the Password Restricted Contents: The Contents are included in this Site solely for your individual use. You may not copy (other than a copy for your own internal use), modify, distribute, transmit, display, perform, reproduce, transfer, resell or republish any of the contents of this site without the prior written consent from Tejas, which may be withheld in our sole and absolute discretion. Your access to the Contents at this Site may be terminated without notice at the sole and absolute discretion of Tejas.

Copyrights, Work Product and Other Intellectual Property. Except for links to other websites and the contents thereof noted below, all Contents of this Site, including research reports, company analyses, analysts comments, work product of any of our employees, graphics, icons and overall appearance of this Site, are the sole exclusive property of Tejas and/or our affiliates. The posting of the Contents of this Site neither constitutes a waiver of any of our proprietary rights or any other trademarks, servicemarks, patents, and other intellectual property, nor a transfer by implication, estoppel, or otherwise of any such rights or of any license to the Site user or to any third party. Contents of this Site are protected by United States and international copyright law both as individual works and as a collection and by United States and international trademark laws. You agree not to delete any copyright, trademark or similar notice from any Contents you obtain from this Site. The display of our trademarks within this Site does not grant a license of any kind to the reader. Any downloading of material contained in this Site, or of any site to which this Site links, may be a violation of federal trademark and copyright laws. Any downloading of Content on this Site or any website linked to this Site may be a violation of federal and other trademark laws and federal copyright laws.