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Please note the following information regarding the sale of Stamps and Covers for China Guardian's 2012 Autumn 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 Autumn Auctions (for Stamps and Coins lots) before and up to and including the 13th of December 2012, the commission of the Buyer will be charged 13.5% of the Hammer Price, and from the 14th of December and up to and including the 28th of December, the commission of the Buyer will be charged 14% of the Hammer Price. This preferential policy will terminate on the 29th of December. 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.

Please note the following information regarding the sale of Stamps and Covers for China Guardian's 2012 Autumn Auctions:

1. Lot 3165 should be 113 pieces.

2. Lo t3209: the estimate should read: RMB:3,000-4,000.

3. Lot 3518 should be second edition.

2012/11/28