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Last Updated: August 30, 2004

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  1. Website Terms of Use
  2. Conditions of Use
  3. Accuracy of Information
  4. Links
  5. Stock Price Information
  6. No Solicitation
  7. Investment Decisions
  8. Forward-Looking Statements
  9. Software Available on the Website
  10. Copyright
  11. Compliance with Laws
  12. Disclaimers, Limitations of Liability and Indemnification
  13. Jurisdiction
  14. General

1. Website Terms of Use

Freehold Royalty Trust including its affiliates and subsidiaries ("Freehold", "we", "us" or "our") makes available to you the website located at www.freeholdtrust.com ("Website") subject to your acceptance of and compliance with these Legal Terms and Conditions ("Terms"). By accessing or using the Website you are agreeing to and accepting these Terms. If you do not agree with these Terms do not access or use the Website.

We reserve the right to modify these Terms at any time without prior notice by posting such modifications on the Website. Your continued access or use of the Website after such modifications have been posted indicates your acceptance of and agreement to be bound by these Terms as modified. It is your responsibility to review regularly these Terms.

2. Conditions of Use

Except as may be expressly authorized by us, any reproduction, modification or distribution of the Website materials or content is strictly prohibited. We reserve the right to modify, change, discontinue or suspend the Website in whole or in part, at any time, without prior notice to you. Freehold or any of its respective employees, agents, officers, directors or service providers shall not be liable to you or any third party should we exercise this right.

3. Accuracy of Information

While we make reasonable efforts to ensure that the information provided through the Website is current and accurate, we make no representations or warranties as to the accuracy, reliability, completeness or timeliness of such information. Information posted to the Website was believed to be accurate at the time it was posted, but may be superceded by subsequent disclosures.

4. Links

Certain links on this Website lead to other websites ("Linked Sites"). Independent parties over whom Freehold has no control maintain the Linked Sites. Freehold makes no representations or warranties as to the accuracy or any other aspect of the information contained on the Linked Sites, including the goods or services sold or made available. Freehold disclaims all liability and responsibility for the content of the Linked Sites. Nothing in these Terms grants you any rights or authorizations with respect to any Linked Sites.

5. Stock Price Information

Freehold does not guarantee the sequence, accuracy or completeness of any stock price information and is not liable or responsible in any way for delays, inaccuracies, errors or transmission of stock price information. The stock price information provided is not to be relied upon for any trading, business or financial purpose and Freehold and its service providers are not liable or responsible in any way for any damages, losses or costs arising from reliance upon this information or incurred as a result of the non-performance, interruption or termination for any reason whatsoever of the stock price information.

6. No Solicitation

Material contained in or accessible through this Website is for information purposes only and is not intended to and does not constitute an offering of securities in any jurisdiction. Freehold does not assume any duty of disclosure beyond what which is required by applicable law.

Freehold is subject to the securities laws of various jurisdictions. Information disclosed or provided by us pursuant to the securities laws of those jurisdictions is not intended to be in any way qualified, amended, modified or supplemented by the information otherwise available in, through, or on this Website. Our publicly filed disclosure documents can be viewed at www.sedar.com.

7. Investment Decisions

The information set out in this Website should not be used for the purpose of making investment decisions with respect to Freehold's securities. If you are contemplating trading in Freehold's securities, you should review our publicly filed disclosure documents at www.sedar.com and contact your securities broker or financial advisor.

8. Forward-Looking Statements

This Website (and the documents and information accessible through the Website) may contain forward-looking statements, including management's assessment of Freehold's future plans and operations.

By their nature, forward-looking statements involve numerous assumptions, risks and uncertainties, some of which are beyond Freehold's control. These include: the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. These and other factors contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Freehold's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements, and accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Freehold will derive therefrom. Further discussion of risks, uncertainties and other factors that negatively affect the reliability of the forward-looking information are discussed in our public filings with the Canadian securities regulatory authorities and on SEDAR. We further caution that information contained on, or accessible through, this Website is current only as of the date of such information and may be superseded by subsequent events. Freehold undertakes no obligation to update publicly or otherwise revise any information, including any forward-looking information, whether as a result of new information, future events or other factors.

9. Software Available on the Website

Software that is made available to download from the Website is the copyrighted work of Freehold or third party vendors. Your use of the software is governed by the terms of the end user license agreement that accompanies or is made available with the software. You may not install or use the software unless you first agree to the terms and conditions of the license agreement.

10. Copyright

Freehold or its service providers own all right, title and interest in the Website, including all associated market data and information, and you acquire no interest therein. The materials provided on the Website including all content, Website design, text, graphics and the selection and arrangement thereof are protected by copyright. All rights are reserved. Any unauthorized use or any reproduction, modification or distribution of the materials is strictly prohibited. Nothing in these Terms or your use of the Website shall grant you any rights in or to the intellectual property or proprietary rights of Freehold or any third party. You may not frame this Website or link to this Website without our express permission. If you wish to link to this Website please contact us at ir@freeholdtrust.com.

Freehold, Freeholdtrust.com and related words and logos are trademarks and/or trade names of Freehold. Nothing in these Terms or on the Website shall be construed as granting, either expressly, by implication, by estoppel or otherwise, a licence or other right to you to use any marks or names of Freehold. The names of other companies, products or services referred to on the Website may be trademarks or trade names of their respective owners. Any unauthorized use of the trademarks or trade names of Freehold or of third parties is strictly prohibited.

Freehold hereby grants to you a licence to download one copy of materials published by us on this Website on any single computer for your personal, non-commercial use only, provided you do not remove or alter any copyright or other proprietary notices.

11. Compliance with Laws

In addition to complying with these Terms, you agree to use the Website, Linked Sites and services available on or through the Website and Linked Sites for lawful purposes only and in a manner consistent with local, national or international laws and regulations. You may not use the Website or Linked Sites in any manner that could damage, disable, overburden, or impair the Website or Linked Sites or interfere with any other party's use or enjoyment of the Website or Linked Sites.

12. Disclaimers, Limitations of Liability and Indemnification

You understand and agree that:

Use of the Website is at your sole risk. The Website is provided on an "as is", "as available" basis. Freehold and its service providers do not warrant that the Website shall be uninterrupted or error free; nor do they make any warranty as to the results that may be obtained from the use of the Website or as to the accuracy, reliability or content of any information available on or through the Website.

The downloading of material from the Website or Linked Sites is done at your own risk. Freehold does not guarantee or warrant that such materials are free of viruses or other destructive code. You are responsible for implementing safeguards to protect your computer system and data and you are responsible for the entire cost of any service, repairs or corrections necessary as a result of the use of the Website or any Linked Site.

You should not rely on any opinion or other information set out in the Website or any website accessible through the Website when making business, financial, personal or other decisions. Freehold and its service providers do not endorse the opinions of any third party expressed on the Website or any website accessible through the Website.

LIMITATIONS OF LIABILITY. IN NO EVENT SHALL FREEHOLD BE LIABLE FOR ANY (I) INDIRECT, CONSEQUENTIAL, INCIDENTAL, SPECIAL, COMPENSATORY OR PUNITIVE DAMAGES, (II) DAMAGES FOR LOSS OF INCOME, LOSS OF BUSINESS PROFITS, BUSINESS INTERRUPTION, LOSS OF DATA OR BUSINESS INFORMATION, LOSS OF OR DAMAGE TO PROPERTY, (III) CLAIMS OF THIRD PARTIES, OR (IV) OTHER PECUNIDARY LOSS, ARISING OUT OF OR RELATED TO THESE TERMS, THE WEBSITE OR ANY LINKED SITE. IN NO EVENT WILL BE CUMULATIVE LIABILITY OF FREEHOLD AND ITS SERVICE PROVIDERS ARISING OUT OF OR RELATED TO THESE TERMS EXCEED CDN. $10.00. TO THE EXTENT THAT SOME JURISDICTIONS DO NOT ALLOW EXCLUSIONS OR LIMITATIONS ON SOME CATEGORIES OR DAMAGES, THESE EXCLUSIONS OR LIMITATIONS MAY NOT APPLY TO YOU.

SCOPE OF LIMITATIONS AND DISCLAIMERS. THE DISCLAIMER OR WARRANTIES AND LIMITATIONS OF LIABILITY SET OUT HEREIN SHALL APPLY REGARDLESS OF THE CAUSES CIRCUMSTANCES OR FORM OR ACTION GIVING RISE TO THE LOSS, DAMAGE, CLAIM OR LIABILITY, EVEN IF SUCH LOSS, DAMAGE, CLAIM OR LIABILITY IS BASED UPON BREACH OR CONTRACT (INCLUDING, WITHOUT LIMITATION, A CLAIM OF FUNDAMENTAL BREACH OR BREACH OF A FUNDAMENTAL TERM), TORT (INCLUDING, WITHOUT LIMITATION, NEGLIGENCE), STRICT LIABILITY OR ANY OTHER LEGAL OR EQUITABLE THEORY, AND EVEN IF FREEHOLD AND ITS SERVICE PROVIDERS ARE ADVISED OF THE POSSIBILITY OF THE LOSS, DAMAGE, CLAIM OR LIABILITY.

Indemnity. You agree to indemnify and hold Freehold and its service providers harmless from and against any and all claims, liabilities, damages, demands, losses or expenses (including all legal fees) arising out of your breach of these legal Terms and conditions.

13. Jurisdiction

The laws of the Province of Alberta and any applicable federal laws of Canada shall govern your use of the Website. The courts of the Province of Alberta shall have exclusive jurisdiction over any dispute arising out of your use of this Website.

14. General

These Terms, any and all other notices, policies and statements contained on the Website constitute the entire agreement between Freehold and you. These Terms cannot be modified except as described elsewhere herein. These Terms supercede anything in the Website inconsistent with these Terms. No waiver of any of these Terms shall be deemed a further or continuing waiver of such term or condition or any other term or condition. If in any jurisdiction, any part of these Terms is held to be unenforceable by a court of competent jurisdiction, such part of these Terms shall be restricted or eliminated to the minimum extent necessary and the remaining Terms shall otherwise remain in full force and effect.