GLOBAL ELECTION MARKETS "World Elections 2008" TERMS OF SERVICE AND PROMOTION RULES

NO PURCHASE NECESSARY. A PURCHASE WILL NOT IMPROVE YOUR CHANCES OF WINNING. INTERNET ACCESS AND VALID E-MAIL ACCOUNT REQUIRED.

THE GLOBAL ELECTION MARKETS "World Elections 2008" PROMOTIONS (the "Promotions") IS OFFERED ONLY IN THE UNITED STATES AND DISTRICT OF COLUMBIA AND IS OPEN ONLY TO LEGAL RESIDENTS OF THE UNITED STATES, THE DISTRICT OF COLUMBIA AND CANADA (WITH EXCEPTION OF PUERTO RICO AND THE PROVINCE OF QUEBEC)WHO ARE AT LEAST 18 YEARS OF AGE AT TIME OF REGISTRATION. Residents of other jurisdictions or those under the age of 18 may participate in the market and/or to determine their ranking but winning a cash prize in the Promotions is subject to governing law where the participant resides.

VOID WHERE PROHIBITED BY LAW.

1. INTRODUCTION

A. Overview. The Global Election Markets are a set of prediction market competitions, where participants test their knowledge of politics against that of other participants by predicting the outcomes of U.S. and foreign political party primary elections/caucuses and general elections (the "Election Events") by "buying" and "selling" with GEM Dollars ("G$") (NOT actual currency) fictitious novelty interests in candidates for political office or political parties (in the case of a parliamentary election). The Promotions are intended to advertise and promote Global Election Markets, LLC and their affiliates's geopolitical information services as well as for the entertainment of participants. THE PROMOTIONS ARE NOT INTENDED AND SHOULD NOT BE USED FOR PURPOSES OF BETTING, WAGERING OR GAMBLING.

B. Objective. Use GEM Dollars ("G$") to "buy" fictitious interests in those actual candidate(s) for political office or political parties who you believe will win U.S. or foreign political party primary elections/caucuses/general or parliamentary elections. By correctly predicting the outcomes of Election Events, you accumulate additional GEM Dollars ("G$").

Each participant is only allowed one (1) Account for the Promotions and their Account's GEM Dollars ("G$") will be used to determine both the number of entries for the Sweepstakes and virtual Cash that is used to bid on the auction prizes. Any participant found to have more than one account will be automatically disqualified from participating in any ongoing and future promotions.

C. The interests in political candidates which are "bought" and "sold" in the Promotions are completely fictitious and are NOT and should NOT be construed as stocks, bonds, or any other form of equity or security of Global Election Markets LLC or any other person or entity.

2. ELIGIBILITY: Employees, officers, directors, agents, and representatives of Global Election Markets, LLC (the "Sponsor"), its parent, affiliates, subsidiaries and promotion, marketing, advertising and production agencies and each of their respective immediate family members (defined as parents, spouse, children, siblings, and grandparents) and any person residing in their same household are NOT eligible to register or participate.

3. PROMOTION PARTICIPATION.

A. Promotion Period. The Promotions begin on or about August 1, 2008 at 12:00:01 a.m. Central Time ("CT") and ends on 12/31/2008 at 10:00:00 p.m. CT. GEM Reserves the right to delay the start of the Promotion, in which case notifications will be made through the Website

B. Registration. Go to www.globalelectionmarkets.com, and follow the registration instructions, by choosing a unique username and password; providing your address, e-mail address and date of birth. This information is used for the sole purpose of confirming the participants identity, eligibility for awarding any prizes the participant may have won through the Promotions. Check the box indicating that you have read, understand and agree to these Official Rules. Then, click the "Submit" button to complete your registration and to create your Account (hereafter, "the Account"). Once your Account is created you will then be able to select a country option and an election option. Once you select the initial country and election option your Account will be credited with twenty GEM dollars plus 10 shares of each candidates for that particular election (equal to G$10). Each group of all candidates for that particular election is considered a ?basket?, each basket is worth G$1 and contains one share of each possible outcome; The basket will include a "rest of field candidate" representing all other possibilities not included in those named. Five shares of the initial endowment will be automatically invested into the election by creation of a random computer generated set of ?buy? and ?sell? orders based on the current market view at the time of joining that particular election. ?Buy? orders will be placed in at a discount of 90% times the current market view and ?Sell? orders will be placed in at a premium of 1.10% the current market view. Any existing orders that match the random orders generated will be automatically matched and be credit/debited to your portfolio, any unmatched orders will be held for 24 hours before they can be cancelled. This process will occur each time you join and election. You will be able to get additional grants of twenty (20) GEM Dollars plus $10 worth of Baskets for each election event that you select only after you have selected to ?join this election?. The maximum grant of GEM Dollars for a single Election Event is twenty (20) GEM Dollars G$20 plus G$10 worth of shares. The maximum grant of GEM Dollars for the contest will be thirty GEM Dollars multiplied by the number of Election Events held during the contest (including Election Events that have not been decided by the end of the Promotion Period. You may trade away any of the candidates and get additional GEM Dollars ("G$") from other participants in the Contest that want to buy the candidates you are selling. There is a Limit of one (1) registration/Account per person. No joint/group Accounts are allowed. Each time you visit the website (after you have registered and created an Account), to participate in the Promotions, you must first log-in using your username and password. You are solely responsible for the security of your username and password. You should take precautions to keep your username and password private to prevent any unauthorized use. Sponsor disclaims any and all responsibility for any losses, damages or consequences you may suffer due to careless or unauthorized use of a username or password.

C. How To Play.

1. "Buying" and "Selling" At any time prior to the "Freeze Time" for an Election Event (as defined in Section 3C-2 below), you may "buy" or "sell" interest(s) in candidate(s) in your Account. For each Election Event, review the slate of candidates or parties (in the case of a parliamentary election). Visit www.globalelectionmarkets.com for a list of Election Events. From the list of candidate(s) or parties, use the GEM Dollars ("G$") in your Account to "buy" interest(s) in those candidate(s) or parties who you believe will win the designated Election Event(s) by making an offer to buy at a "buy" or "bid" price, you nominate. Sellers will also be in the market and will nominate "sell" or "ask" prices. The prediction market computer program will match buy and sell prices and quantities and automatically execute trades when a buyer and seller have nominated prices and quantities that are consistent with a trade. The computer program will only execute trades when the price and quantities offered for exchange by buyers and sellers are consistent. This will occur when a buyer takes a seller's "ask" or a seller takes a buyer's "bid" in terms of both price and quantity. When you "buy" an interest in a candidate for political office, the market "buy" price of the candidate (in GEM Dollars ("G$") will be automatically deducted from your Account and the candidate or party will be credited to your account. If you do not have the appropriate quantity of GEM Dollars ("G$") in your Account, you will NOT be permitted to "buy" an interest in that candidate at that market "buy" price. When you "sell" an interest in a candidate or party the appropriate quantity of GEM Dollars will be credited to your account and your account will be debited that candidate or party.

2. "Freeze Time." "Buying"/"selling" will only be permitted up to the Freeze Time for a given Election Event, which will be determined by the Global Election Markets Committee of Experts (?the Committee?) as further described in Paragraph 8D below. As of the Freeze Time, all Accounts will be locked for that Election Event and no further "buying"/"selling" can take place for that Election Event and a winner will be declared. In many cases, trading will be permitted until the time the Committee decides to close an pay out an election.

3. Scoring. If the candidate(s) for a particular Election Event in your Account as of the Freeze Time for that Election Event win the given Election Event as determined by the Committee of Experts (as defined in paragraph 8D below), you will receive 1 GEM Dollars ("G$") per correct prediction. But, if the candidate(s) in your Account do not win a given Election Event, your investment in such candidate(s) automatically becomes worthless i.e., it has a value of zero GEM Dollars (G$0). After each Election Event, Sponsor will calculate each Account's current balance of GEM Dollars ("G$") based on the accuracy of the Account registrant's predictions in the immediately preceding Election Event(s). Allow approximately three (3) business days after the Committee of Experts (as defined in Paragraph 8D below) makes a final determination on the Election Event for Account information to be updated to reflect Election Event results and for GEM Dollars ("G$") to be credited to the Account, as appropriate. For Election Events where the Freeze Time has not occurred as of 10pm CST on 12/31/2008, then the value of each candidate in the Account will be calculated as of the market price for the last executed trade or if there is no last executed trade the for the mid range value of the bid and ask spread for each candidate. If there is no last executed trade nor is there a bid and ask spread, then the value of that candidate or party will be zero GEM Dollars (G$0).

4. Auction. G$ can be used to participate in auctions for prizes in the. Participants may only bid the un-invested G$ they have earned which is the virtual cash listed as "available cash" under the "Your Cash and Stocks" option in "Your Account." Although each auction has a preset "closing time" beyond which no more bids may be accepted, this closing time is pushed back five minutes later than the latest bid whenever that bid is made within five minutes of the closing time. For example, if the closing time is 6:00 PM, and a bid is made at 5:58 PM, then the new closing time is 6:03 PM. n each auction, the highest bidder gets the prize in exchange for the G$ that he/she bid. A participant who makes a winning bid will have his/her account debited of the corresponding amount of G$. Even if he/she forfeits the prize, his/her account will still be debited of the amount of the winning bid. In contrast, the G$ allocated to losing bids are not debited and may be reinvested in the Game, or used to make other bids during other auctions. If an auction closes and no bids have been made, then the prize may not be awarded at all, or it may be put up for auction again at a later time.

THE GLOBAL ELECTION MARKETS "World Elections 2008" PROMOTIONS (the "Promotions") IS OPEN ONLY TO LEGAL RESIDENTS OF THE UNITED STATES, THE DISTRICT OF COLUMBIA AND CANADA (WITH EXCEPTION OF PUERTO RICO AND THE PROVINCE OF QUEBEC)WHO ARE AT LEAST 18 YEARS OF AGE AT TIME OF REGISTRATION. Residents of other jurisdictions or those under the age of 18 may participate in the market and/or to determine their ranking but winning a cash prize in the Promotions is subject to governing law where the participant resides. Eligibility will be determined as documented by the physical address specified in the user's profile at the time of registration to GEM. The prize will be shipped to the address he/she specified at the time of registration and verifiable in his/her "member profile". Prizes will be awarded within approximately eight weeks of an auction's closing. If a player wants to have the prize shipped to another address than the one he/she specified upon registering, he/she will have to provide GEM proof that the original address was indeed his/hers at the date of registration.

The selection and starting prices (in G$) of the prizes put up for auction depends on availability and GEM reserves the right to substitute prizes of equal or greater value for any specific auction at any time. If a prize substitution is made for a specific auction prior to its closing time, the substitution will be effectively posted on the auction's bid page.

Auctions, their frequency, duration and prizes determined by GEM at its sole discretion. GEM will post any Auctions under the ?Action? link under the ?Prizes? section of the Website. GEM will provide information of the prize, duration, closing time and any other criteria under this section.

5. Sweepstakes. G$ can be used to participate in the Sweepstakes for prizes. Participants may only redeem the uninvested G$ they have earned which is the virtual cash listed as ?available cash? under the ?Your Cash and Stocks? option in ?Your Account? for chances to win the posted sweepstakes. Participants will earn one (1) entry into the Sweepstakes for every GEM Dollar that is allocated from the Participant?s account by going to the sweepstakes web page on the site. All GEM $ that are used to buy sweepstakes entries will be deducted from the participants account as soon as they virtually redeem their G$ for chances to win in the sweepstakes. A sweepstakes will be held on or about 1 October, 1 November, 1 December of 2008 and 1 January of 2009. Entries in each respective sweepstakes will be halted at 23:59 CST on the day preceding the sweepstakes drawing. However, Sweepstakes, their frequency, duration and prizes determined by GEM at its sole discretion. GEM will post any Auctions under the ?Sweepstakes? link under the ?Prizes? section of the Website. GEM will provide information of the prize, duration, closing time and any other criteria under this section.

On each sweepstakes date cited above the GEM platform will select a random computer generated prize winner from among all eligible entries received for the Sweepstakes in order to award the Sweepstakes Prizes (as defined in section 7B 1-4 below). Judges decisions are final. Odds of winning depend upon the total number of eligible entries received during each sweepstakes.

THE GLOBAL ELECTION MARKETS "World Elections 2008" PROMOTIONS (the "Promotions") IS OPEN ONLY TO LEGAL RESIDENTS OF THE UNITED STATES, THE DISTRICT OF COLUMBIA AND CANADA (WITH EXCEPTION OF PUERTO RICO AND THE PROVINCE OF QUEBEC)WHO ARE AT LEAST 18 YEARS OF AGE AT TIME OF REGISTRATION. Residents of other jurisdictions or those under the age of 18 may participate in the market and/or to determine their ranking but winning a cash prize in the Promotions is subject to governing law where the participant resides. Eligibility will be determined as documented by the physical address specified in the user's profile at the time of registration to GEM. The prize will be shipped to the address he/she specified at the time of registration and verifiable in his/her "member profile". Prizes will be awarded within approximately eight weeks of an auction's closing. If a player wants to have the prize shipped to another address than the one he/she specified upon registering, he/she will have to provide GEM proof that the original address was indeed his/hers at the date of registration.

6. University Competition. GEM university league competition is a chance for universities to compete against each other for bragging rights as the university team with the most astute political acumen. GEM university league competition will be eligible to participants who indicate that they are students, faculty, alumni, and/or administrative members of the university ("the University Team") at registration.. A valid ".edu" or corresponding university email account will need to be used when registering to play as part of the University Team. The email address used will be linked to the corresponding University to which the email domain belongs. Account holders not registering with a valid university account will not be registered as part of the University Team.

In order for a University Team to be officially entered into the University League, there will need to be at least five (5) unique participants from that university registered to play.

7. Election Events. Go to www.globalelectionmarkets.com for a list of Election Events available for participation. The Election Events are subject to change throughout the duration of the Promotion Period. In addition there may be a situation where the "Rest of Field" candidate is split into a named candidate and another Rest of Field Candidate. If this occurs then any Accounts that hold the "Rest of Field" interest for the Election Event where such a split occurs will be credited with a new named candidate and the residual Rest of Field candidate.

8. Additional Restrictions. Be careful in deciding to "buy" or "sell" interests in candidates, as once an interest in a candidate has been "bought"/"sold", it cannot be altered, modified, retracted or changed except by the exchange in the case of a split. By registering for and participating in the Promotions, you agree to abide by and be bound by these Official Rules as well as the decisions of Sponsor which are final and binding in all respects.

8. CONDITIONS OF PARTICIPATION.

A. Website Privacy Policy & Terms of Use. The Privacy Policy and Terms of Use of www.globalelectionmarkets.com govern your provision of personally identifiable information, participation in the Promotions and all other use of the website. If you do not agree to the Privacy Policy and Terms of Use, do not provide any personally identifiable information, participate in the Promotions or otherwise use the website.

B. Rankings. While every reasonable effort will be made to maintain and accurately reflect the value of GEM Dollars ("G$") accumulated by a given registrant Sponsor and its agencies assume no responsibility for any delays, technological or other errors which result in inaccurate or incomplete total GEM Dollar values/rankings (as appropriate) being displayed or awarded at any given time. Sponsor further reserves the right to correct any errors in GEM Dollars ("G$") awarded to a registrant and/or to otherwise adjust or revise GEM Dollars ("G$")/rankings (as appropriate) after posting of same to registrants' Accounts and/or the Promotions home page (as appropriate) without notice or liability of any kind. Potential winners will be notified directly and personally via e-mail or in writing from Sponsor (or its agency) as discussed in Sections 4 and 7 above.

C. Prize Conditions. Winners will be solely responsible for taxes on prizes. Winners will receive an IRS Form 1099 reflecting the value of the applicable prize won. Limit one (1) prize per Account/person/e-mail address. Prizes may not be assigned or transferred. Potential winners must complete, sign and return an affidavit of eligibility, liability release and publicity release (where lawful) and W-9 form within five (5) days of date indicated on documents. In the event of noncompliance with this requirement, if a registrant is found not to be eligible or not to have fully complied with these Official Rules or if prize notification is returned as undeliverable, prize will be forfeited and the potential winner disqualified. In relation to the awarding of Sweepstakes Prizes, if the potential winner is disqualified, an alternate winner will be selected from among the remaining eligible entries received.

D. Limitations on Liability/Related Issues. Sponsor's computer is the official clock for the Promotions and shall be controlling in all respects. Sponsor's records as to "buying"/"selling" of interests in candidates and calculation of registrant's total GEM Dollar values shall be controlling in all respects. The official source for the outcomes of Election Events is determined by a "Committee of Experts" appointed by Global Election Markets LLC which may also include employees and directors of Global Election Markets LLC and their affiliates. The Committee of Experts will use publicly available information from sources determined by the Committee of Experts to be credible to determine the winning candidate. All decisions by the Committee of Experts will be final and controlling in all respects. The use by any participant of automated, programmed or robotic means of participating in the Promotions, to affect the "buying"/"selling" of interests in candidates or otherwise to manipulate the market prices of candidates is strictly prohibited and all "buys"/"sells" associated with any suspected acts of market manipulation (as determined by Sponsor in its sole discretion) will be voided; such conduct will also be deemed by Sponsor to constitute tampering with the Promotions (as discussed in Section 5-F below). No responsibility is assumed by Sponsor or its agencies for lost, late, incomplete, damaged, misdirected or illegible registrations, "buys", "sales" or other Promotion participation; or for any computer, telephone, cable, satellite, network, electronic or Internet hardware or software malfunctions, failures, connections, availability or garbled or jumbled transmissions, service provider/Internet/web site/use net accessibility or availability, traffic congestion or unauthorized human intervention. Sponsor and its agencies are not responsible for any incorrect, incomplete or inaccurate information, whether caused by website users or by any of the equipment or programming associated with or utilized in the Promotions and assume no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, communications line failure, theft or destruction or unauthorized access to the website. Sponsor and its agencies are not responsible for injury or damage to participants' or any other person's computer related to or resulting from participating in these Promotions or downloading/uploading materials from/to the website. Sponsor and its agencies are not responsible for typographical, printing, or other inadvertent errors in these Official Rules or in other materials related to the Promotions.

E. Corruption/Disruption of Promotions. If, for any reason, the Promotions (or any part thereof) is not capable of running as planned by reason of infection by computer virus, worms, bugs, tampering, unauthorized intervention, fraud, technical failures, cancellation/postponement or other interruption of one or more election events or any other causes beyond the control of Sponsor which, in the sole opinion of Sponsor, could corrupt or affect the administration, security, fairness, integrity or proper conduct of the Promotions (or any part thereof), Sponsor reserves the right at its sole discretion to cancel, terminate, modify or suspend the Promotions and select the winners in a manner which is fair, equitable and in accordance with the spirit of these Official Rules, as determined by Sponsor in its sole discretion. Notice of such action by Sponsor will be posted on the website.

F. Tampering Prohibited. Sponsor reserves the right, at its sole discretion, to disqualify any individual it finds, in its sole discretion, to be tampering with the entry process or the operation of the Promotions or the website. CAUTION: ANY ATTEMPT TO DAMAGE ANY ONLINE SERVICE OR WEBSITE OR UNDERMINE THE LEGITIMATE OPERATION OF THE PROMOTIONS VIOLATES CRIMINAL OR CIVIL LAWS. IF SUCH AN ATTEMPT IS MADE, SPONSOR MAY DISQUALIFY ANY PARTICIPANT MAKING SUCH ATTEMPT AND SEEK DAMAGES TO THE FULLEST EXTENT OF THE LAW.

G. About GEM Dollars ("G$"). The sale (via auction or otherwise), trading, transfer, assignment, combining or barter of GEM Dollars ("G$") is prohibited. GEM Dollars ("G$") may only be used by the person to whom they were allocated by Sponsor. GEM Dollars ("G$") are good only for the Account to which they were allocated; GEM Dollars ("G$") cannot be pooled, shared or transferred between Accounts. GEM Dollars ("G$") have no cash value and may not be purchased or redeemed for cash or credit. GEM Dollars ("G$") may only be used in a manner which is fully consistent with and as expressly stated in these Official Rules. Registrants must log-in to their Accounts, "buy" or "sell" interests in candidates, use GEM Dollars ("G$") and/or otherwise participate in the Promotions only in a manner which is fully consistent with and as expressly stated in these Official Rules. Any other use (or attempted use) of GEM Dollars ("G$"), "buying"/"selling" interests in candidates and/or other participation in the Promotions constitutes fraud and is subject to prosecution by Sponsor. In addition, such conduct will result in disqualification.

H. Market Prices/Promotion Data. The market "buy" and "sell" prices of interests in candidates and other Promotion-related data is proprietary to Sponsor and, to the fullest extent of the law, is the copyrighted work of Sponsor. As such, the market prices and other Promotion-related data may only be used by a registrant for his/her personal use in conjunction with his/her participation in the Promotions. No other use of market prices and other Promotion-related data is permitted without the express written consent of Sponsor.

I. Releases. Registrant releases and agrees to indemnify and hold harmless Global Election Markets,LLC and their, affiliates, subsidiaries, agencies (including promotion, marketing, advertising and production agencies) and the directors, officers, agents, shareholders, representatives and employees of any of the above entities, from any and all liability associated with registrant's participation in the Promotions and receipt, acceptance, possession or use/misuse of any prize.

By accepting a prize, where permitted by law, winner grants Sponsor (and its designees) the right to print, publish, broadcast and use, worldwide in any media now known or hereafter developed, including but not limited to the world wide web, at any time or times, his/her name, portrait, picture, voice, likeness, biographical information or other indicia of persona as news or information and for advertising, trade and Promotional purposes without additional compensation, and without review, approval or further notice.

9. DISPUTE RESOLUTION/CHOICE OF LAW/WAIVER OF JURY TRIAL. Except where prohibited, by participating in the Promotions, you agree that (a) any action at law or in equity arising out of or relating to these Official Rules, the Promotions, or the rights and obligations of Global Election Markets LLC shall be filed exclusively in the federal or state courts of the State of Texas and you hereby consent and submit to the personal and exclusive jurisdiction of such courts for the purposes of litigating any such action, AND ANY RIGHT TO A TRIAL BY JURY AND A TRIAL BY JURY IS HEREBY WAIVED, (b) any and all disputes, claims and causes of action arising out of or connected with these Official Rules and/or the rights and obligations of Global Election Markets LLC shall be resolved individually, without resort to any form of class action, and (c) any and all claims, judgments and awards shall be limited to actual out-of-pocket costs incurred, including costs associated with participating in these Promotions but in no event attorneys' fees; and (d) under no circumstances will any registrant be permitted to obtain awards for and hereby waives any and all rights to claim punitive, exemplary, special, incidental, indirect and consequential damages and any other damages (whether due to negligence or otherwise), other than for actual out-of-pocket costs, and any and all rights to have damages multiplied or otherwise increased. All issues and questions concerning the construction, validity, interpretation and enforceability of these Official Rules, or the rights and obligations of any registrant and/or Global Election Markets, LLC shall be governed by and construed in accordance with the laws of the State of Texas without giving effect or regard to any principles or doctrines of conflict of laws/choice of laws of the State of Texas or of any other jurisdiction.

10. WINNER"S LIST. For the names of winners, send a self-addressed stamped envelope to "World Elections 2008" Contest and Sweepstakes, PO Box 10505, Rochester, NY 14610, to be received by 1/1/2009

11. SPONSORED BY: Global Election Markets, LLC Two Riverway, Suite 725, Houston, TX 77056.