1. U.S. Equity Product Suite “Trade 98% of US Equity market with two trades!” ETFS Russell 1000® (US Large Cap) ETFS Russell 2000® (US Small Cap) May 2009
January 2009

2. Contents Introduction to ETF Securities ETF Platform What are ETFs?
Trading the whole US market!
A volatility and recovery play
Key characteristics and benefits of Russell Indexes
Russell Indexes versus S&P500 and other benchmarks
ETF liquidity Model
Conclusion
Appendix

3. Introducing ETF Securities Limited
ETF Securities is the innovator and pioneer of ETCs
World’s first physical gold ETC, ‘An initiative of World Gold Trust Services’
World’s first oil and carbon ETCs
World’s first complete ETC platform
Range of commodities exposure: Physical, Classic, Forward, Short and Leveraged
131 ETCs available in multi-currency: USD, Euro, Sterling & AUD
6 ETC segments on 6 exchanges globally
Listed on LSE, Deutsche Boerse, NYSE-Euronext, Borsa Italiana and ASX
World’s first thematic ETF platform
11 commodity-themed ETFs and the Russell 1000 and 2000
Listed on LSE, Irish Stock Exchange, Borsa Italiana and NYSE-Euronext.
World’s first Shariah-approved ETCs
Over US$11 billion in total assets

4. Introducing ETF Exchange
World’s first 3rd Generation ETF Platform
Led by a consortium including: Citigroup, Merrill Lynch & ETF Securities
Swap-based ETF model with multiple swap providers (counterparties)
Credit diversification across a number consortium members, no reliance on a single bank
True Liquidity & Competition, largest pool of authorized participants and market makers (over 20)
Europe’s Largest Thematic ETF Offering
13 new ETFs provide access to sectors not available through ETCs
For certain commodities, commodity companies offer the only access to the underlying commodities market
Equities/Commodities will outperform in different parts of the commodity cycle
Commodity companies can be a leveraged play on the underlying commodities

5. ETF Securities AUM growth
Over US$ 11 billion in total assets as at May 2009, up over 100% in past year and up over $3bn since the middle of November.
Physical Gold and Oil ETCs have been largest AUM contributors over past year and this has intensified recently. Interest in agriculture has started to rise recently. 5

6. ETF Securities - Competitive Advantages
The management of ETFS pioneered ETCs
Independent of any mutli-service financial institution/bank
ETF Securities only business is creating and managing ETFs and ETCs
Largest Sales and Marketing team dedicated to ETFs in Europe
Highly customer focused & support customer business needs
5 ETF Securities products in top 10 traded ETFs on LSE
ETF Securities has more market makers than any of its competitors
Guaranteed tracking on ETCs
Swap based ETFs model ensures tracking errors remains minimal
Synthetic replication most robust equity ETF model from a risk perspective
Physically backed ETCs carry no credit risk, ETCs are 100% collateralised
Track Record
Focus
Service
Liquidity
Efficiency
Safety

7. What are Exchange Traded Funds (ETFs)?
Open-ended UCITS III funds
Track the underlying equity index
Managed by asset managers
Transparent, low cost, liquid
Buy & hold investments. No management or maintenance required
Listed on stock exchanges, trade & settle like equities
Trade free of stamp duty
Can be shorted and traded with all the same order types as an equity

8. Equity ETF Platform

9. Trading the whole US market!
First & Only European ETF issuer to offer ETFs on both market-leading Russell 1000 and 2000 US equity indexes
Most Comprehensive and unbiased large-cap and small-cap barometers of the U.S. equity market
Highly Liquid, ETFS has more market makers providing liquidity than any of other ETFs issuers
Cost Efficient 0.35% & 0.45% TER
Listed on 5 European exchanges: LSE, Deutsche Boerse, Milan, NYSE Euronext and the ISE & available in USD, EUR and GBP

10. Volatility Play
Market Volatility has increased significantly since Lehman’s bankruptcy on Sept 15, 2008
Since then the market* has moved by more than 5% on 18 days compared to 17 days in the previous 53 years !
US Equity volatility as measured by the VIX index soared to record levels in 2008, double the 98’ and 02’ spikes.
Russell 1000 outperforms in downswing phase of US business cycle when volatility and risk aversion is high
*S&P 500

11. Recovery Play
Russell 2000 outperforms in upswing phase of US business cycle
A high beta, aggressive portfolio of small cap businesses for those looking to play the next US upswing
Russell 2000 has significantly outperformed standard US benchmarks
Note: G7 and US Activity Indicator broadly similar

12. Key characteristics and benefits of Russell Indexes
Russell Indexes used by more US institutional investors than all other index providers combined
(63% of US Institutional funds, 98% of small cap mandates)
account for more than half of all US institutional equity assets benchmarked.
Deepest and most comprehensive market coverage
Russell Indexes represent over 98% of investable universe. 
Russell 1000, 90% of US equity market and Russell 2000, 8%
Completely objective
rule-based, transparent methodology creating ideal benchmarks and trading vehicles. No sampling, membership reflects the actual market.
Source: Nelson Information’s MarketPlace Web database, 30 June 2008

13. Russell Indexes vs. S&P Indexes and others
Russell 1000 & 2000 benchmarks capture 98% of US equity market
S&P500 – only 66%
56% of all US equity assets in US are benchmarked to Russell
Russell 1000 and 2000 and the main benchmarks for US equities
Objective Rules-based methodology vs. subjective committee based methodology for S&P
MSCI US indexes have limited acceptance in the US market and currently only capture only 0.1% institutional market share
Source: Russell, Data as of May 30, Russell Indexes charted by total market capitalization

14. Russell 1000 & 2000 - Outperformance
Significant outperformance in the long term
Russell 1000 & 2000 have outperformed other benchmarks over 2008
Russell 1000 & 2000 have outperformed benchmarks over the last 10 years
Russell 1000/2000 return volatilities compare favourably with other US asset benchmarks
Returns and Volatility – Asset Benchmarks –
Note: G7 and US Activity Indicator broadly similar

15. Russell 1000 & 2000 – Performance drivers
Index composition
Macro environments
Investment performance
Summary
Largest-cap US stocks, often global
Highly diversified growth drivers
US consumer discretionary, financials
Concentrated growth stocks
Downswing in US growth
High and rising inflation
High and rising risk aversion
Strong BRICs growth
Upswing in US growth
Low and stable inflation
Low and falling risk aversion
Low earnings volatility
Out-performance of US equity benchmarks
Strong outperformance vs. Russell 1000, US equity benchmarks in US upturns
Note: G7 and US Activity Indicator broadly similar
Tend to be “best of breed” stocks
Leverage up earnings in US growth upswings

16. Conclusion
Russell 1000, most efficient way to play current US equity volatility
Russell 2000, most efficient way to play US recovery
Russell 1000, Russell 2000, used by more US institutional investors than all other index providers combined
Swap based ETF model ensures tracking errors remains minimal, most robust model from a risk perspective
Highly liquid, more market makers than any of other ETFs issuers

17. ETF Securities - Competitive Advantages
The management of ETFS pioneered ETCs
Independent of any mutli-service financial institution/bank
ETF Securities only business is creating and managing ETFs and ETCs
Largest Sales and Marketing team dedicated to ETFs in Europe
Highly customer focused & support customer business needs
5 ETF Securities products in top 10 traded ETFs on LSE
ETF Securities has more market makers than any of its competitors
Guaranteed tracking on ETCs
Swap based ETFs model ensures tracking errors remains minimal
Synthetic replication most robust equity ETF model from a risk perspective
Physically backed ETCs carry no credit risk, ETCs are 100% collateralised
Track Record
Focus
Service
Liquidity
Efficiency
Safety

18. Appendix - Russell Indexes Compared - ETFS Russell ETFS Russell Market Makers Contacts - ETF Liquidity Model - ETC Platform - ETF, ETC & ETN Comparison
January 2009

19. ETF Securities & Market Maker Contacts
Website:
LSE:
Deutsche Boerse:
NYSE-Euronext:
Borsa Italiana:
Irish Stock Exchange:
ETF Securities contact
(UK Representative)
Market Maker & Authorised Participant contacts:
Flow Traders
+31 (0)
UBS
+44 (0)
HSBC
+44 (0)
Nyenburgh
+31 (0)
Citigroup
+44 (0)
Banca IMI
Morgan Stanley
+44 (0)
LaBranche
+44 (0)
Susquehanna
+353 (0)
UniCredit HVB
+44 (0)
Merrill Lynch
+44 (0)
Winterflood
+44 (0)
Barclays Capital
+44 (0)
JP Morgan
+44 (0)
Societe Generale
+44 (0)
Saen Options BV +31 (0)
RBS
+44 (0)
Commerzbank
+49 (0)

20. ETFs – Liquidity Model
ETF liquidity is determined by the liquidity of the underlying asset
ETFs are open-ended – creation/redemption process makes them as liquid as underlying
Multiple Authorised Participants (APs) & market makers – ensure pricing is kept very close to the underlying
Multiple swap providers who act as APs compete for the business adding an enhanced liquidity feature
APs provide the market with liquidity – create and redeem by trading the equity with the issuer of the shares
APs and market makers guarantee continuous two way prices on exchange and will execute larger orders by phone
TRADED VOLUME IS NOT A RELEVANT MEASURE OF LIQUIDITY!

21. Unique benefits of new ETFs
Independent Issuer, ETF Securities:
Multiple swap providers platform, unique in Europe
Swap providers are interchangeable – reduced operational risk
All swaps fully collateralised
Multiple market makers (ETFS has more market makers providing liquidity than any of other ETF issuer)
Synthetic Replication:
More accurate and more stable tracking of index
Full replication of index return
Ability to provide unique strategies not possible using in-specie model (Leveraged / Short / Emerging Markets / Commodities)
No issuer risk (UCITSIII fund)

22. Third Generation – Multiple Swap Backed ETFs
Secondary Market
Investors
ETFs
Exchange/ Market
Makers
Orders/Prices
Cash
Securities
Primary Market
ETF
Swap
provider 1
Swap
provider2
Swap
provider3

23. Understanding Russell Indexes - “1 + 2 = 3”
Russell U.S. Indexes total market capitalization1
The Russell 3000
This broad cap index of the top 3,000 U.S. stocks by market cap covers 98% of the U.S. equity investable universe
The Russell 1000
The largest 1,000 stocks by market cap, the index comprehensively covers the large cap opportunity set
The Russell 2000
The smallest 2,000 stocks and the primary benchmark for small cap investors in the U.S.
1Source: Russell Investments, Data as of June 2008.
Market capitalization = number of shares outstanding x price per share (e.g., Exxon Mobil has 5,283,694,000 shares outstanding times $88.76/ share gives $469.0 billion market cap). Various segments of the market will perform differently at different times (e.g., in year 2000, Russell 3000 was down 7.5%; Russell Midcap was up 8.3%).
The market capitalization ranges used above are absolute breakpoints for new members and do not include capitalization banding. Capitalization banding involves the implementation of a +/-2.5% band around certain breakpoints. For further information, please refer to the Russell Indexes construction and methodology document.

24. Russell 1000 and 2000 – Compared Capitalizations (in USD billions)
Fundamental characteristics
Source: Russell as at As of December 31, 2008

25. ETFS Russell 1000 Fund (US Large Cap)
ETFS Russell 1000 tracks the Russell 1000 Index which measures the performance of the large-cap segment of the U.S. equity universe
The top 5 companies are: Exxon Mobil, At&T Inc., Microsoft, Procter & Gamble, and Johnson & Johnson
A low beta, highly defensive portfolio of large cap business ideally suited to the current environment of high market uncertainty. The Russell 1000 has also outperformed standard asset benchmarks in upswing phases of the US economy
Sector Distribution

26. Russell 1000 Performance Drivers
Energy and Technology industries the two most significant growth drivers
Long run growth tends to be evenly split amongst consumer/services, manufacturing/technology and energy sectors
More diversified growth base than the Russell 2000
Russell 1000 components are less cyclical than Russell 2000
Financial and Consumer components have been a larger drag on overall performance than previous downturn
Note: G7 and US Activity Indicator broadly similar

27. ETFS Russell 2000 Fund (US Small Cap)
ETFS Russell 2000 tracks the Russell 2000 Index which measures the performance of the small-cap segment of the U.S. equity universe
The top 5 companies are: Alexion Pharmaceuticals, OSI Pharmaceuticals, Myriad Genetics, Railcorp Holdings and Sybase.
A high beta, aggressive portfolio of small cap businesses for those looking to capitalise on the next US upswing. The Russell 2000 has significantly outperformed standard asset benchmarks in the US
Sector Distribution

28. Russell 2000 Performance Drivers
Financials and consumer industries the two most significant growth drivers.
LR growth tends to be driven by Consumer/Services and Industrials/Technology sectors.
More concentrated growth base than the Russell 1000.
More cyclical vs. structural components to the return base.
More broad-based industry contributions to recent return drops: flight to large-cap safety?
Note: G7 and US Activity Indicator broadly similar

29. What are Exchange Traded Commodities (ETCs)?
Similarities to ETFs:
Open-ended securities
Track the underlying commodity price or commodity index
Asset backed – Physical bullion or Commodity Contracts (Swaps)
Buy & hold. No management or maintenance required
Listed on stock exchanges, trade & settle like stocks
Low cost – MERs 39 bps to 98 bps
Eligible investments for UCITS
Trade free of stamp duty
Long, Short and Leveraged exposures available
Differences from ETFs:
ETCs are securities and not funds

30. ETFS Platform
Listing: London, Frankfurt, Amsterdam, Paris and Milan *Shariah compliant precious metal ETC platform

31. ETF, ETC & ETN Comparison
PHYSICALLY-BACKED ETCs
SWAP-BASED ETCs
IN-SPECIE-BASED ETFs
SWAP-BASED ETFs
ETNs
STRUCTURE
Asset-backed Security
Fund
Unsecured Note
UNDERLYING HOLDINGS
Physical Allocated Bullion (audited + published bars)
Swap contract / collateralised or non
Equities & cash (not applicable for commodities)
Index swap plus a basket of non-index securities
Bank balance sheet
ISSUER RISK
No, assets ring-fenced by trustee structure
No, assets ring-fenced by fund structure
Yes, no trustee or ring - fencing
COUNTEPARTY / CREDIT RISK No
100% allocated bullion
No for collateralised
Ucollateralised, exposure to swap counterparty
Yes. Limited to 10% under UCITS
Yes, bears full exposure to credit worthiness of note issuer
OTHER COUNTEPARTY RISK
Securities lending, dividend enhancement activity and any derivative exposures
Cash management with linked notes
Rebalancing risk (tracking & counterparty)
Tracking Error
Management fees
Management fees,
Fund transaction costs,
Portfolio drift
EXCHANGE LISTED
Yes
UCITS FUND
UCITS ELIGIBLE

32. Risk Warnings
Risk Warnings: ETFS Fund Company public limited company (the “Company”) is an open-ended investment company with variable capital having segregated liability between its sub-funds (each a “Fund”) and is organised under the laws of Ireland as a public limited company. The Company was authorised by the Financial Regulator as a UCITS pursuant to the European Communities (Undertaking for Collective Investment in Transferable Securities) Regulations, 2003 and shall issue a separate class of shares (the “Shares”) representing each Fund. Further information in relation to a particular Fund can be found in the latest prospectus of the Company which should be read in conjunction with the relevant fund supplement (together the “Prospectus”).
An investment in Shares of a particular Fund may or may not be suitable for a particular investor. The price of Shares may go up or down and an investor may not get back the amount invested. Historical performance is not a guarantee for future performance. The Shares will be priced in the base currency of the relevant Fund and so the value of the investment in other currencies will be affected by exchange rate movements. To the extent Shares are traded in other currencies, their value may also be affected by exchange rate movements.
Restricted Investors: The information in this document is designed solely for use in the Republic of Ireland and the Netherlands and complies with the regulatory requirements of these jurisdictions only.
The distribution of the Prospectus and this document and the offering, sale and delivery of Shares in other jurisdictions may be restricted by law. In particular please see the section below headed “Important information for persons resident in particular jurisdictions.”
This document is furnished for the private information of the recipient and must not be copied, given or shown to any other person. Any subscription for Shares should be made on the basis of the Prospectus.
Shares will not be registered under the United States Securities Act of 1933 or qualified under any applicable state securities statutes. The Company will not be registered as investment companies under the US Investment Company Act of 1940.

33. Restricted Investors and Disclaimer
Disclaimer: Any investment in Shares carries with it certain risks, including those risks set out in the Prospectus. You should obtain your own independent financial, taxation and legal advice before making any
decisions about any investment in Shares. This information is not an offer of Shares and should not be used as the basis for any investment decision. The Shares of each Fund have been listed on the Irish Stock
Exchange and the Euronext Amsterdam and may be purchased on such exchanges. This information is issued by the Company and does not constitute financial product advice. The Company does not guarantethe
performance of Shares of a Fund and does not accept any responsibility for any omissions or inaccuracies in this document, which it believes to be correct at the time of issue.
Important information for persons resident in particular jurisdictions
Important information for persons resident in Austria:
Any information provided in this document does not constitute an offer to the public or an invitation to the public to make an offer for the acquisition of Shares in the Funds of the Company by Austrian investors. The
Shares are exclusively available to a limited number (less than 100) of individually selected investors in Austria. Therefore, the Prospectus is not a prospectus pursuant to the Austrian Investment Funds Act. This
document, the Prospectus and other materials relating to Shares are strictly confidential and may not be distributed to any person or entity other than the recipients hereof. This document as well as any information
contained herein may not be supplied to the public in Austria or used in connection with any offer for subscription of Shares to the public in Austria. The Shares must not be offered by public advertisement or in any
similar manner in Austria.
Important information for persons resident in Luxembourg:
This document and any offering of Shares does not and is not intended to constitute a public offer of Shares in the Grand Duchy of Luxembourg and as a consequence no notification has been made to the
Luxembourg regulators. Therefore, Shares may not be offered, sold or otherwise marketed in the Grand Duchy of Luxembourg in circumstances that constitute a public offer under Luxembourg law. This document
will not be used for a public offer in the Grand Duchy of Luxembourg of the Shares represented thereby and does not constitute a public offer to anyone in the Grand Duchy of Luxembourg to purchase the Shares.
Important information for persons resident in Spain:
The sale of the Shares in the Funds of the Company which this document refers to have not been registered with the Spanish National Securities Market Commission (“Comision Nacional del Mercado de Valores”)
pursuant to Spanish laws and regulations and do not form part of any public offer of such Shares in Spain. Accordingly, no Shares in the Funds of the Company may be or are presently intended to be publicly
offered, marketed or promoted, nor any public offer in respect thereof made, in Spain, nor may this document or any other offering materials relating to the offer of Shares in Funds be distributed, in the Kingdom of
Spain, by ETF Securities Limited or any other person on their behalf, except in circumstances which do not constitute a public offering and marketing in Spain within the meaning of Spanish laws and in compliance
with all legal and regulatory requirements in relation thereto. This document and any other materials relating to Shares are strictly confidential and may not be distributed to any person or any entity other than its
recipients.
Important information for persons resident in Switzerland:
The Company has not been and will not be authorised by or registered with the Swiss Federal Banking Commission as a foreign collective investment scheme pursuant to Article 120 of the Swiss Federal Act on
Collective Investment Schemes of June 23, Accordingly, the Shares may not be offered or distributed to the public in or from Switzerland, unless such offer or distribution is addressed to Swiss investors
without any public offering in accordance with the relevant practice of the Swiss Federal Banking Commission. This document may be used in a private placement only and is personal to the addressee. It does not
constitute an offer to any other person and may only be used by those persons to whom it has been handed out in connection with the offer described herein. It may not be used in connection with any other offer
and may neither be copied, used by, distributed or made available to any other person.
Important information for persons resident in United Kingdom:
The distribution in the United Kingdom of this document and any other marketing materials relating to the Company (A) if effected by a person who is not an authorised person under FSMA, is being addressed to, or
directed at, only the following persons: (i) persons who are "Investment Professionals" as defined in Article 19(5) of the FSMA (Financial Promotion) Order 2005 (the "Financial Promotion Order") and (ii) persons
falling within any of the categories of persons described in Article 49 ("High net worth companies, unincorporated associations etc") of the Financial Promotion Order and (iii) any other person to whom it may
otherwise lawfully be distributed in accordance with the Financial Promotion Order and (B) if effected by a person who is an authorised person under FSMA, is being addressed to, or directed at, only the following
persons: (i) persons falling within one of the categories of "Investment Professionals" as defined in Article 14(5) of the FSMA (Promotion of Collective Investment Schemes) (Exemption) Order 2001 (the "Promotion
of CISs Order"), (ii) persons falling within any categories of persons described in Article 22 `("High net worth companies, unincorporated associations etc") of the Promotion of CISs Order and (iii) any other person to
whom it may otherwise lawfully be distributed in accordance with the Promotion of CISs Order. Persons of any other description in the United Kingdom may not receive and should not act or rely on this document or
any other marketing materials relating to Company.
Potential investors in the United Kingdom are advised that all, or most, of the protections afforded by the United Kingdom regulatory system will not apply to an investment in Shares and that compensation will not be
available under the United Kingdom Financial Services Compensation Scheme.Regulated by the Jersey Financial Services Commission.