Issue of ETFS Metal Securities Ltd

PRICING SUPPLEMENT

Dated: 14 December 2010

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

254,494 ETFS Physical Silver Securities

50,195 ETFS Physical Swiss Gold Securities

 (the "ETFS Metal Securities")

This Pricing Supplement (as referred to in the Prospectus (the "Prospectus") dated 03 December 2010 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: 15 December 2010

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 3,795,803

ETFS Physical Palladium 5,369,966

ETFS Physical Silver 28,522,269

ETFS Physical Gold 43,136,382

ETFS Physical PM Basket 2,709,375

ETFS Physical Swiss Gold 1,316,313

SIGNED on behalf of ETFS Metal Securities Limited

By: …………………………………………………...