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Please note the following information regarding the sale of Modern Coins for China Guardian's 2012 Spring Auctions:

1: Any illustrations or statements in the catalogue are only for reference of prospective buyers and are not to be relied upon in terms of color, quality, or imperfections. Prospective buyers shall examine carefully each object before bidding. The purchase of a Lot shall be at the buyer's own risk.

2: According to the laws and regulations of the People's Republic of China, the lots marked with * in the catalogue cannot be exported.

In the payment of any purchase made by the Buyer during the China Guardian 2012 Spring Auctions (for Stamps, Coins and Bronze Mirror lots) before and up to and including the 5th of June 2012, the commission of the Buyer will be charged 13.5% of the Hammer Price, and from the 6th of June and up to and including the 20th of June, the commission of the Buyer will be charged 14% of the Hammer Price. This preferential policy will terminate on the 21th June. Any deduction between the Buyer's payment and the Seller's payment shall not apply to this preferential policy. The Buyer may not collect the Lot without full payment.

3: Lot 2557、Lot 3005、Lot 3173 have been withdrawn.

4: Lot 2667、Lot 2795：The images on the catalogue are not right, please be subject to the real object.

5: Lot 2699:English on the catalogue is is not right, please be subject to the real object.

6: Lot 3140 estimate should read: RMB 300,000-400,000.

7: Lot 3150 estimate should read: RMB 330,000-420,000.

2012/5/20