Redemption of ETFS Metal Securities Ltd

PRICING SUPPLEMENT

Dated: 28 January 2011

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 Redemption of ETFS Metal Securities

Redemption of

275,051 ETFS Physical Silver Securities

20,009 ETFS Physical 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 redemption 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: 31 January 2011

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 4,040,596

ETFS Physical Palladium 5,806,292

ETFS Physical Silver 27,517,625

ETFS Physical Gold 41,004,696

ETFS Physical PM Basket 2,774,417

ETFS Physical Swiss Gold 1,441,173

SIGNED on behalf of ETFS Metal Securities Limited

By: ………………………………………………………………