ETFS Commodity Secs and AIG Update 19-09-2008

    RNS Number : 8411D
  ETFS Comm Sec Ltd All Commodities
  19 September 2008
   

       

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR TO
THE GENERAL PUBLIC IN THE UNITED KINGDOM OR JERSEY.  


    Announcement  Friday 19 September 2008


    Commodity Securities and AIG - Update

    ETF Securities Limited ("ETF Securities") would like to update investors and all market participants regarding the Exchange Traded
Commodities (ETCs) issued by ETFS Commodity Securities Limited ("ETFS Commodity Securities") and which are backed by matching contracts from
AIG Financial Products Corp. and guaranteed by American International Group, Inc (collectively "AIG").

    On Friday 19th September, it is expected that trading will recommence on the London Stock Exchange ("LSE") in a limited number of
Commodity Securities backed by AIG.  An announcement has just been released by the LSE which stated:

    "Automatic execution will resume in all 33 Leveraged Commodity Securities with an uncrossing that will take place from 12:30 BST today.
It will be preceded by an auction call period that will commence at 12noon BST.

    "The remaining 80 Commodity Securities (Classics, Forwards and Shorts) will remain suspended for automatic execution for the rest of
today and a further announcement will be issued in due course."

    ETF Securities hopes that trading will resume sequentially in the other Commodity Securities backed by AIG as soon as possible.

    ETF Securities will make further announcements in due course.

    In the meantime trading and operations of all other products administered by ETF Securities remain unaffected.

    Conference Calls

    ETF Securities will be hosting daily conference calls at 11am GMT (UK time) on each weekday to discuss the current situation with regard
to the ETCs issued by ETFS Commodity Securities. For details, please see ETF Securities' website or Email info@etfsecurities.com.

    ETF Securities will continue to update investors and market participants via our website (www.etfsecurities.com) and via the Regulatory
News Service (RNS) if there is any change to the situation.

    For further information, please contact: 

    Graham Tuckwell, Chairman, ETF Securities Ltd
    Hector McNeil, Head of Sales, ETF Securities Ltd
    Tel: +44 20 7448 4330

    Roman Townsend, Penrose Financial 
Tel: +44 20 7786 4875

    
This release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or
subscribe for, any transferable securities to be issued by the ETF Securities Limited group ("ETFS"), nor shall it or any part of it nor the
fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto. Any offer,
invitation or solicitation shall be made solely by means of a prospectus and recipients of this release who are considering a purchase of
securities are reminded that any such purchase should be made solely on the basis of the information contained in such prospectus and any
supplementary prospectus(es). This release does not constitute any recommendation regarding the securities of ETFS. 

The communication of this release is not being made by, and this release has not been approved by, an authorised person for the purposes of
section 21 of the Financial Services and Markets Act 2000 (the "FSMA"). Accordingly this release is not being distributed to, and must not
be passed on to, the general public in the United Kingdom. The communication of this release or any other document issued in connection with
the offer and sale of any ETCs is only being made to and directed at those persons in the United Kingdom falling within the definition of
Investment Professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Order"), or high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(1) of
the Order or any person to whom it may otherwise lawfully be made (all such persons together being referred to as "relevant persons"). The
communication of this release (or any other document issued in connection with the offer and sale of the ETCs) must not be acted upon or relied upon by persons who are not relevant
persons. Persons distributing this release must satisfy themselves that it is lawful to do so. All applicable provisions of the FSMA must be
complied with in respect of anything done in relation to the ETCs in, from or otherwise involving the United Kingdom. 

This is not an offer of securities for sale in the United States. Securities issued by the ETFS group ("Securities") have not been and will
not be registered under the US Securities Act or any other applicable law of the United States. These Securities are being offered and sold
only outside the United States to non-US persons in reliance on the exemption from registration provided by Regulation S of the US
Securities Act. The Issuer has not been and does not intend to become registered as an investment company under the Investment Company Act
and related rules. These Securities and any beneficial interest therein may not be reoffered, resold, pledged or otherwise transferred in
the United States or to US persons. If the Issuer determines that any Security Holder is a Prohibited US Person (being a US Person who is
not a "qualified purchaser" as defined in the Investment Company Act), the Issuer may redeem the Securities held by that Security Holder in
accordance with the provisions described in the Prospectus. The Securities may not be purchased with plan assets of any "employee benefit plan" within the meaning of section 3(3) of the United
States Employee Retirement Income Security Act of 1974, as amended ("ERISA"), any "plan" described in section 4975(e)(1) of the United
States Internal Revenue Code of 1986, as amended (the "Code") or any entity whose underlying assets include "plan assets" of any of the
foregoing by reason of an employee benefit plan's or other plan's investment in such entity, which employee benefit plan, plan or entity is
subject to Title I of ERISA or section 4975 of the Code or any United States Federal, state, or local law or non-United States law that is
substantially similar to the prohibited transaction provisions of section 406 of ERISA or section 4975 of the Code (any such employee
benefit plan, plan or entity, a "Prohibited Benefit Plan Investor"). If the Issuer determines that any Security Holder is a Prohibited
Benefit Plan Investor, the Issuer may redeem the Securities held by that Security Holder in accordance with the provisions described in the Prospectus relating to those Securities." 

"Dow Jones," "AIG�" "Dow Jones-AIG Commodity IndexSM," "DJ-AIGCISM", "Dow Jones-AIG Commodity 3-Month Forward Index" are service marks of
Dow Jones & Company, Inc. and American International Group, Inc. ("American International Group"), as the case may be, and will be licensed
for use for certain purposes by ETF Securities Ltd. ETCs based on the DJ-AIGCISM or related subindices (including single commodity
sub-indices) or 3-Month Forward Indexes are not sponsored, endorsed, sold or promoted by Dow Jones, AIG Financial Products Corp. ("AIG-FP"),
American International Group, or any of their respective subsidiaries or affiliates, and none of Dow Jones, AIGFP, American International
Group, or any of their respective subsidiaries or affiliates, makes any representation regarding the advisability of investing in such
product(s).



This information is provided by RNS
The company news service from the London Stock Exchange
 
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