Issue of ETFS Metal Securities Limited

PRICING SUPPLEMENT

Dated: 22 May 2012

ETFS Metal Securities Limited

(Incorporated and registered in Jersey under the Companies

(Jersey) Law 1991 (as amended) with registered number 95996)

(the "Issuer")

Programme for the Issue of ETFS Metal Securities

Issue of

308,909 ETFS Physical Gold Securities

51,263 ETFS Physical Palladium Securities

 (the "ETFS Metal Securities")

This Pricing Supplement (as referred to in the Prospectus (the "Prospectus") dated 01 September 2011 in relation to the above programme) relates to the issue of the ETFS Metal Securities referred to above. The ETFS Metal Securities have the terms provided for in the trust instrument date 18 April 2009 between the Issuer and The Law Debenture Trust Corporation p.l.c. as trustee constituting the ETFS Metal Securities. Terms used in this Pricing Supplement bear the same meaning as in the Prospectus. The particulars in relation to this issue of ETFS Metal Securities are as follows:

Issuer: ETFS Metal Securities Limited

Issue Date: 23 May 2012

Following the issue of ETFS Metal Securities to which this Pricing Supplement applies, the following ETFS Metal Securities will be in issue:

Class of Individual Securities or Category of Basket Securities Number

ETFS Physical Platinum 3,662,369

ETFS Physical Palladium 5,024,613

ETFS Physical Silver 25,817,761

ETFS Physical Gold 45,518,450

ETFS Physical PM Basket 2,055,314

ETFS Physical Swiss Gold 2,143,439

SIGNED on behalf of ETFS Metal Securities Limited

By: …………………………………………………...