CRESTED CORP. CODE OF ETHICS AND CONDUCT
Crested Corp. ("Crested") will conduct its business honestly and ethically.
Employees will constantly improve the quality of their services, products and
operations and will create a reputation for honesty, fairness, respect,
responsibility, and integrity, trust and sound business judgment. No illegal or
unethical conduct on the part of officers, directors, employees or affiliates is
in Crested's best interest. Crested will not compromise its principles for
short-term advantage. The ethical performance of Crested is the sum of the
ethics of the men and women who manage it and work for it. Thus, each of
Crested's officers, directors and employees are expected to adhere to high
standards of personal integrity.
Crested's officers, directors, and employees must never permit their
personal interests to conflict, or appear to conflict, with the interests of
Crested, its clients or affiliates. Crested's officers, directors and employees
must be particularly careful to avoid representing Crested in any transaction
with others with whom there is any outside business affiliation or relationship.
Crested's officers, directors, and employees shall never use their company
contacts to advance their private business or personal interests at the expense
of Crested, its clients or affiliates.
Crested's officers, directors and employees shall offer no bribes,
kickbacks or other similar remuneration or consideration to any person or
organization in order to attract or influence business activity. Crested's
officers, directors and employees shall not accept gifts, gratuities, fees,
bonuses or excessive entertainment, in order to attract or influence business
activity.
Crested's officers, directors and employees come into contact with, and
have possession of, proprietary, confidential or business-sensitive information
and must take appropriate steps to assure that such information is strictly
safeguarded. This information, whether it relates to Crested or to any of our
customers, clients or affiliates, includes strategic business plans, operating
results, marketing strategies, customer lists, personnel records, upcoming
acquisitions and divestitures, new investments, and development and construction
costs, processes and methods. Proprietary, confidential and sensitive business
information about Crested, other companies, individuals and entities with whom
Crested does or has done business of any nature should be treated with
sensitivity and discretion and only be disseminated on a need-to-know basis
only.
Misuse of material inside information by Crested's officers, directors or
employees in connection with trading in Crested's securities can expose the
individual who misuses such information to civil liability and penalties under
the Securities Exchange Act. Under this Act, directors, officers, and employees
in possession of material information not available to the public are
"insiders." Spouses, friends, suppliers, brokers, and others outside Crested who
may have acquired the information directly or indirectly from a director,
officer or employee are also "insiders." The Act prohibits insiders from trading
in, or recommending the sale or purchase of, Crested's securities or the
securities of any other corporation to which the information relates, while
such inside information is regarded as "material", or if the information is
important enough to influence you or any other person in the purchase or sale
of securities of any company with which Crested does business, which could be
affected by the inside information. The following guidelines should be followed
in dealing with inside information:
X Until the material information has been publicly released by Crested,
Crested's officers, directors and employees must not disclose it to
anyone except those within Crested whose positions require use of the
information.
X Crested's officers, directors and employees must not buy or sell
Crested's securities when they have knowledge of material information
Concerning Crested until that information has been disclosed to the
public and the public has had sufficient time to absorb the
information.
X Crested's officers, directors and employees shall not buy or sell
securities of another corporation, the value of which is likely to be
affected by an action by Crested of which the employee is aware and
which has not been publicly disclosed.
Crested's officers, directors and employees will seek to report all
Information accurately and honestly, and as otherwise required by applicable
Reporting requirements.
Crested's officers, directors and employees will refrain from gathering a
competitor's proprietary information by illegitimate means and, if such
information is so obtained, shall refrain from acting on the knowledge which has
been gathered in such a manner. Crested's officers, directors and employees will
seek to avoid exaggerating or disparaging comparisons of the properties,
services and competence of their competitors.
Crested's officers, directors and employees will obey all Equal Employment
Opportunity laws and act with respect and responsibility towards others in all
of their dealings.
Crested's officers, directors and employees will strive at all times to
conduct their personal life so that their personal life will not interfere with
their ability to deliver quality products or services to Crested and its
customers and business associates.
Crested's officers, directors and employees are obligated and agree to
promptly disclose to Crested's President and/or its board of directors any
unethical, dishonest, fraudulent and illegal behavior, or the violation of
Crested policies and procedures by any officer, director and/or employee. Should
any person having such information be insecure in disclosing the information
to any officer, director or employee, such person must then promptly disclose
the information to Crested's outside legal counsel: Stephen E. Rounds, 1544 York
Street, Suite 110, Denver CO 80206, 303.377.6997.
Crested's management will establish and maintain a "WHISTLE BLOWER"
procedure in compliance with Title VIII, Section 806 Paragraph 154A of the
Sarbanes-Oxley Act. All notifications under this law of fraud and or financial
misconduct by the company, its officers, directors and employees will be
reported confidentially through this procedure to a designated member of the
audit committee.
Violation of this Code of Ethics WILL result in discipline, which
discipline, among other possibilities, may include suspension without pay or
termination for cause. The degree of discipline relates in part to whether there
was a voluntary disclosure of any ethical violation and whether or not the
violator cooperated in any subsequent investigation.