http://www.silverinstitute.org/news/pr27apr06.html Silver Institute Welcomes Silver-Backed Exchange Traded Fund (ETF) (Washington, D.C. - April 27, 2006) The Silver Institute applauds today's decision by the U.S. Securities and Exchange Commission to declare effective the iShares Silver Trust registration statement which was submitted by Barclays Global Investors (BGI) for their silver-backed ETF. According to BGI, this paves the way for the ETF to be launched on the American Stock Exchange tomorrow, April 28, and is expected to trade under the symbol "SLV". This exciting new investment vehicle will make investing in silver more convenient, because a grantor trust will hold the metal on behalf of the investor; thus giving the investor exposure to the market without the necessity of taking physical delivery and thereby having no storage, insurance or assaying costs. Michael DiRienzo, Executive Director of the Silver Institute, stated, "Because the silver-backed ETF will be listed on a major stock exchange, shares in it are easily traded like any equity investment. This investment vehicle will give a wide-range of investors the opportunity to diversify their portfolio with exposure to silver." The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. Established in 1971, the Institute serves as the industry's voice in increasing public understanding of the value and many uses of silver.
