Directorate Change

Gold Bullion Securities Limited

21 October 2015

Directorship Changes

Gold Bullion Securities Limited (the "Company") wishes to announce that Mark Weeks has resigned as a Non-Executive Director of the Company and Christopher Foulds has been appointed as a Non-Executive Director of the Company, in each case with effect from 20 October 2015. Christopher's biography is set out below.

The Non-Executive Directors of the Company are as follows:

Graham Tuckwell

Graeme Ross

Joe Roxburgh

Christopher Foulds

Christopher Foulds - Non-Executive Director

Mr Foulds is responsible for Financial Reporting at ETF Securities Limited and is the Compliance Officer of the Company and ETFS Management Company (Jersey) Limited. He is also a non-executive director and the Compliance Officer of the Company, ETFS Commodity Securities Limited, ETFS Oil Securities Limited, ETFS Metal Securities Limited, ETFS Hedged Commodity Securities Limited, ETFS Foreign Exchange Limited, ETFS Hedged Metal Securities Limited, Swiss Commodity Securities Limited and ETFS Equity Securities Limited. He is the Vice President, Chief Financial Officer, Treasurer and Secretary of ETF Securities USA LLC and the Chief Financial Officer of ETF Securities Advisors LLC. Mr. Foulds was previously a director of Active Services (Jersey) Limited, providing start-up management and support services to the funds sector and also held various roles with Deloitte between 2001 and 2008. Mr Foulds is a Chartered Accountant (ACA) and holds a BSc in Mathematics with Financial Management from the University of Portsmouth.

For further information, please contact

Richard Parker

R&H Fund Services (Jersey) Limited

Tel: +44 (0) 1534 825 258

Fax: +44 (0) 1534 825 335

E-mail address: [email protected]