Common use of SUMMARY Clause in Contracts

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Trust Indenture dated as of November 12, 2004, as amended from time to time, between the Sponsor and the Trustee (the “Trust Indenture”). As provided in the Trust Indenture and described in the Prospectus (defined below), units of fractional undivided beneficial interest in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred thousand (100,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3, as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust (the “Prospectus”) included therein. Under the Trust Indenture, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized Participants, only through the facilities of the Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold that is transferred between the Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”). Under the Trust Indenture, when the Trustee issues Baskets in exchange for Gold, the Gold transferred by an Authorized Participant to the Participant Unallocated Account is transferred to the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian, and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for Gold, the Gold held in the Trust Allocated Account is to be deallocated and transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Participant Unallocated Account by the Custodian. The foregoing Gold transfers are also governed by the Trust’s Allocated Bullion Account Agreement and Unallocated Bullion Account Agreement with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘distribution,’’ as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust Indenture. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust Indenture, the provisions of the Trust Indenture shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Trust Indenture dated as of November 12, 2004, as amended from time to time, between the Sponsor and the Trustee (the “Trust Indenture”). As provided in the Trust Indenture and described in the Prospectus (defined below), units of fractional undivided beneficial interest in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred thousand (100,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3, as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust (the “Prospectus”) included therein. Under the Trust Indenture, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized Participants, only through the facilities of the Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold that is transferred between the Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C D (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”). Under the Trust Indenture, when the Trustee issues Baskets in exchange for Gold, the Gold transferred by an Authorized Participant to the Participant Unallocated Account is transferred to the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian, and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for Gold, the Gold held in the Trust Allocated Account is to be deallocated and transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Participant Unallocated Account by the Custodian. The foregoing Gold transfers are also governed by the Trust’s Allocated Bullion Account Agreement and Unallocated Bullion Account Agreement with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”)) and the Participant Unallocated Bullion Account Agreement. This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘distribution,’’ as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust Indenture. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust Indenture, the provisions of the Trust Indenture shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Trust Indenture dated as of November 12, 2004, as amended from time to time, __________ 2004 between the Sponsor and the Trustee (the “"Trust Indenture”"). As provided in the Trust Indenture and described in the Prospectus (defined below), units of fractional undivided beneficial interest in and ownership of the Trust (the “"Shares”") may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred thousand (100,000) Shares (each aggregation, a “"Basket”"). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No.: 333-105202), as declared effective by the Securities and Exchange Commission (“"SEC”") and as the same may be amended from time to time thereafter (collectively, the “"Registration Statement”") together with the prospectus of the Trust (the “"Prospectus”") included therein. Under the Trust Indenture, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized Participants, only through the facilities of the Depository Trust Company (“"DTC”") or a successor depository, and only in exchange for an amount of Gold that is transferred between the Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”). Under the Trust Indenture, when the Trustee issues Baskets in exchange for Gold, the Gold transferred by an Authorized Participant to the Participant Unallocated Account is transferred to the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian, and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for Gold, the Gold held in the Trust Allocated Account is to be deallocated and transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Participant Unallocated Account by the Custodian. The foregoing Gold transfers are also governed by the Trust’s 's Allocated Bullion Account Agreement and Unallocated Bullion Account Agreement with HSBC(together, as a Custodian, the "Custody Agreements") and the Trust’s Allocated Precious Metal Participant Unallocated Bullion Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”)Agreement. This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘"distribution,’’ " as such term is used in the Securities Act of 1933, as amended (“"1933 Act”"), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “"Plan of Distribution” " portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust Indenture. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust Indenture, the provisions of the Trust Indenture shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12______, 2004200__ among the Sponsor, as amended the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Hong Kong Dollar Shares issued thereunder and the Trustee all depositors (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No: 333-____), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust in the form first filed with the SEC pursuant to Rule 424 (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold Hong Kong Dollars that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold Hong Kong Dollars which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldHong Kong Dollars, the Gold Hong Kong Dollars held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold Hong Kong Dollar transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian Depository (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12June 8, 20042006, as amended among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Swiss Franc Shares issued thereunder and the Trustee all depositors (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3, as amended (Registration No: 333-210105), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended or replaced from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust in the form filed with the SEC pursuant to Rule 424 from time to time (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold Swiss Francs that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold Swiss Francs which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldSwiss Francs, the Gold Swiss Francs held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold Swiss Franc transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBCthe Depository, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian amended from time to time (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12June 8, 20042006, as amended among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Shares issued thereunder and the Trustee all depositors (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3, as amended (Registration No: 333-212378), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended or replaced from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust in the form filed with the SEC pursuant to Rule 424 from time to time (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold British Pounds that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold British Pounds which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldBritish Pounds, the Gold British Pounds held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold British Pound transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBCthe Depository, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian may be amended from time to time (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12June 8, 20042006, as amended among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Shares issued thereunder and the Trustee all depositors (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3, as amended (Registration No: 333-222506), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended or replaced from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust in the form filed with the SEC pursuant to Rule 424 from time to time (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold Australian Dollars that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold Australian Dollars which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldAustralian Dollars, the Gold Australian Dollars held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold Australian Dollar transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBCthe Depository, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian may be amended from time to time (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Trust Indenture dated as of November 12, 2004, as amended from time to time, __________ 2003 between the Sponsor and the Trustee (the “"Trust Indenture”"). As provided in the Trust Indenture and described in the Prospectus (defined below), units of fractional undivided beneficial interest in and ownership of the Trust (the “"Shares”") may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred thousand (100,000) Shares (each aggregation, a “"Basket”"). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No.: 333-105202), as declared effective by the Securities and Exchange Commission (“"SEC”") and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust (the “"Prospectus”") included therein. Under the Trust Indenture, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized Participants, only through the facilities of the Depository Trust Company (“"DTC”") or a successor depository, and only in exchange for an amount of Gold that is transferred between the Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”). Under the Trust Indenture, when the Trustee issues Baskets in exchange for Gold, the Gold transferred by an Authorized Participant to the Participant Unallocated Account is transferred to the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian, and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for Gold, the Gold held in the Trust Allocated Account is to be deallocated and transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Participant Unallocated Account by the Custodian. The foregoing Gold transfers are also governed by the Trust’s 's Allocated Bullion Account Agreement and Unallocated Bullion Account Agreement with HSBC(together, as a Custodian, the "Custody Agreements") and the Trust’s Allocated Precious Metal Participant Unallocated Bullion Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”)Agreement. This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can the creation and issuance of Baskets through an Authorized Participant may be created and issued on an ongoing basis, at any point during viewed in connection with certain activities by the life Authorized Participant as a "distribution" of the Trust, a ‘‘distribution,’’ as such term is used in Shares comprising the Baskets under the Securities Act of 1933, as amended (“the "1933 Act”"), such Authorized Participant (or its customers) may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which would render it a statutory underwriter and underwriters subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Each Authorized Participant should review the “"Plan of Distribution” " portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust Indenture. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust Indenture, the provisions of the Trust Indenture shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Trust Indenture dated as of November 12, 2004, as amended from time to time, __________ 2003 between the Sponsor and the Trustee (the “"Trust Indenture”"). As provided in the Trust Indenture and described in the Prospectus (defined below), units of fractional undivided beneficial interest in and ownership of the Trust (the “"Shares”") may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred thousand (100,000) Shares (each aggregation, a “"Basket”"). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No.: 333-105202), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust (the “"Prospectus”") included therein. Under the Trust Indenture, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants only, only through the facilities of the Depository Trust Company (“"DTC”") or a successor depository, and only in exchange for an amount of Gold that is transferred between the Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth Account by the specific procedures by which Custodian and the Participant's Custodian, acting on the instructions of the Trustee and the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”)Participant, as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)respectively. Under the Trust Indenture, when the Trustee issues creates Baskets in exchange for Gold, the Gold transferred by an Authorized Participant to the Participant Trust Unallocated Account is to be transferred to the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian, pursuant to the Allocated Bullion Account Agreement and the Unallocated Bullion Account Agreement (together, the "Custody Agreements"), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for Gold, the Gold held in the Trust Allocated Account is to be deallocated and transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Participant Unallocated Account by the Custodian. The foregoing Gold transfers are also governed by Custodian acting on the Trust’s Allocated Bullion Account Agreement and Unallocated Bullion Account Agreement with HSBC, as a Custodian, and instructions of the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”)Trustee. This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new the creation and issuance of Shares can through an Authorized Participant may be created and issued on an ongoing basis, at any point during viewed in connection with certain activities by the life Authorized Participant as a "distribution" of the Trust, a ‘‘distribution,’’ as such term is used in Shares under the Securities Act of 1933, as amended (“the "1933 Act”"), such Authorized Participant (or its customers) may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which would render it a statutory underwriter and underwriters subject it to the prospectus-prospectus- delivery and liability provisions of the 1933 Act. The Each Authorized Participant should review the “"Plan of Distribution” " portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust Indenture. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust Indenture, the provisions of the Trust Indenture shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12[ ], 20042011 among the Sponsor, as amended the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Chinese Renminbi Shares issued thereunder and the Trustee all depositors (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No: 333-174640), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) ), together with the prospectus of the Trust in the form first filed with the SEC pursuant to Rule 424 (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold Chinese Renminbi that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold Chinese Renminbi which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldChinese Renminbi, the Gold Chinese Renminbi held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold Chinese Renminbi transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian Depository (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12December 5, 20042005, as amended among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Shares issued thereunder and the Trustee all depositors (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No: 333-200305), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust in the form first filed with the SEC pursuant to Rule 424 (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold Euro that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold Euro which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldEuro, the Gold Euro held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold Euro transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian Depository (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12June 8, 20042006, as amended among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Shares issued thereunder and the Trustee all depositors (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3, as amended (Registration No: 333-186018), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust in the form first filed with the SEC pursuant to Rule 424 (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold British Pounds that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold British Pounds which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldBritish Pounds, the Gold British Pounds held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold British Pound transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian Depository (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Trust Indenture dated as of November 12, 2004, as amended from time to time, __________ 2004 between the Sponsor and the Trustee (the “"Trust Indenture”"). As provided in the Trust Indenture and described in the Prospectus (defined below), units of fractional undivided beneficial interest in and ownership of the Trust (the “"Shares”") may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred thousand (100,000) Shares (each aggregation, a “"Basket”"). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No.: 333-105202), as declared effective by the Securities and Exchange Commission (“"SEC”") and as the same may be amended from time to time thereafter (collectively, the “"Registration Statement”") together with the prospectus of the Trust (the “"Prospectus”") included therein. Under the Trust Indenture, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized Participants, only through the facilities of the Depository Trust Company (“"DTC”") or a successor depository, and only in exchange for an amount of Gold that is transferred between the Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”). Under the Trust Indenture, when the Trustee issues Baskets in exchange for Gold, the Gold transferred by an Authorized Participant to the Participant Unallocated Account is transferred to the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian, and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for Gold, the Gold held in the Trust Allocated Account is to be deallocated and transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Participant Unallocated Account by the Custodian. The foregoing Gold transfers are also governed by the Trust’s 's Allocated Bullion Account Agreement and Unallocated Bullion Account Agreement with HSBC(together, as a Custodian, the "Custody Agreements") and the Trust’s Allocated Precious Metal Participant Unallocated Bullion Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”)Agreement. This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can the creation and issuance of Baskets through an Authorized Participant may be created and issued on an ongoing basis, at any point during viewed in connection with certain activities by the life Authorized Participant as a "distribution" of the Trust, a ‘‘distribution,’’ as such term is used in Shares comprising the Baskets under the Securities Act of 1933, as amended (“the "1933 Act”"), such Authorized Participant (or its customers) may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which would render it a statutory underwriter and underwriters subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Each Authorized Participant should review the “"Plan of Distribution” " portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust Indenture. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust Indenture, the provisions of the Trust Indenture shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12[__________], 20042006, as amended among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Australian Dollar Shares issued thereunder and the Trustee all depositors (the “"Trust Indenture”Agreement"). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “"Shares”") may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “"Basket”"). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No: 333-13262), as declared effective by the Securities and Exchange Commission (“"SEC”") and as the same may be amended from time to time thereafter (collectively, the “"Registration Statement”") together with the prospectus of the Trust in the form first filed with the SEC pursuant to Rule 424 (the “"Prospectus”") included thereinadopted under the Securities Act of 1933, as amended (the "1933 Act"). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“"DTC”") or a successor depository, and only in exchange for an amount of Gold Australian Dollars that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold Australian Dollars which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian"Depository"), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldAustralian Dollars, the Gold Australian Dollars held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold Australian Dollar transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion the Trust has entered into with the Depository (the "Deposit Account Agreement with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”Agreement"). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘"distribution,’’ " as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “"Plan of Distribution” " portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12[__________], 20042006, as amended among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of British Pound Shares issued thereunder and the Trustee all depositors (the “"Trust Indenture”Agreement"). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “"Shares”") may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “"Basket”"). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No: 333-132361), as declared effective by the Securities and Exchange Commission (“"SEC”") and as the same may be amended from time to time thereafter (collectively, the “"Registration Statement”") together with the prospectus of the Trust in the form first filed with the SEC pursuant to Rule 424 (the “"Prospectus”") included thereinadopted under the Securities Act of 1933, as amended (the "1933 Act"). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“"DTC”") or a successor depository, and only in exchange for an amount of Gold British Pounds that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold British Pounds which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian"Depository"), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldBritish Pounds, the Gold British Pounds held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold British Pound transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion the Trust has entered into with the Depository (the "Deposit Account Agreement with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”Agreement"). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘"distribution,’’ " as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “"Plan of Distribution” " portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12[__________], 20042006, as amended among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of British Pound Shares issued thereunder and the Trustee all depositors (the “"Trust Indenture”Agreement"). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “"Shares”") may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “"Basket”"). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No: 333-[______]), as declared effective by the Securities and Exchange Commission (“"SEC”") and as the same may be amended from time to time thereafter (collectively, the “"Registration Statement”") together with the prospectus of the Trust in the form first filed with the SEC pursuant to Rule 424 (the “"Prospectus”") included thereinadopted under the Securities Act of 1933, as amended (the "1933 Act"). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“"DTC”") or a successor depository, and only in exchange for an amount of Gold British Pounds that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold British Pounds which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian"Depository"), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldBritish Pounds, the Gold British Pounds held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold British Pound transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion the Trust has entered into with the Depository (the "Deposit Account Agreement with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”Agreement"). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘"distribution,’’ " as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “"Plan of Distribution” " portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12, 2004200 among the Sponsor, as amended the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of South African Rand Shares issued thereunder and the Trustee all depositors (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No: 333- ), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust in the form first filed with the SEC pursuant to Rule 424 (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold South African Rand that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold South African Rand which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldSouth African Rand, the Gold South African Rand held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold South African Rand transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian Depository (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12December 5, 20042005, as amended among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Shares issued thereunder and the Trustee all depositors (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No: 333-227157), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended or replaced from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust in the form filed with the SEC pursuant to Rule 424 from time to time (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold Euro that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold Euro which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldEuro, the Gold Euro held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold Euro transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBCthe Depository, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian may be amended from time to time (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12June 8, 20042006, as amended among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Shares issued thereunder and the Trustee all depositors (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3, as amended (Registration No: 333-210104), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended or replaced from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust in the form filed with the SEC pursuant to Rule 424 from time to time (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold Canadian Dollars that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold Canadian Dollars which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N. A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldCanadian Dollars, the Gold Canadian Dollars held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold Canadian Dollar transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBCthe Depository, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian may be amended from time to fime (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12[__________], 20042006, as amended among the Sponsor, the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Canadian Dollar Shares issued thereunder and the Trustee all depositors (the “"Trust Indenture”Agreement"). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “"Shares”") may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “"Basket”"). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No: 333-132363), as declared effective by the Securities and Exchange Commission (“"SEC”") and as the same may be amended from time to time thereafter (collectively, the “"Registration Statement”") together with the prospectus of the Trust in the form first filed with the SEC pursuant to Rule 424 (the “"Prospectus”") included thereinadopted under the Securities Act of 1933, as amended (the "1933 Act"). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“"DTC”") or a successor depository, and only in exchange for an amount of Gold Canadian Dollars that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold Canadian Dollars which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian"Depository"), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldCanadian Dollars, the Gold Canadian Dollars held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold Canadian Dollar transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion the Trust has entered into with the Depository (the "Deposit Account Agreement with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”Agreement"). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘"distribution,’’ " as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “"Plan of Distribution” " portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12August 16, 2004, as amended from time to time, 2011 between the Sponsor and the Trustee (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as amended (Registration No: 333-220424), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended or replaced from time to time thereafter (collectively, the “Registration Statement”) ), together with the prospectus of the Trust in the form filed with the SEC pursuant to Rule 424 from time to time (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold Chinese Renminbi that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold Chinese Renminbi which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldChinese Renminbi, the Gold Chinese Renminbi held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold Chinese Renminbi transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBCthe Depository, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian may be amended from time to time (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Depositary Trust Indenture Agreement dated as of November 12February 9, 20042007 among the Sponsor, as amended the Trustee, the registered owners and beneficial owners from time to time, between the Sponsor time of Shares issued thereunder and the Trustee all depositors (the “Trust IndentureAgreement”). As provided in the Trust Indenture Agreement and described in the Prospectus (defined below), units of fractional undivided beneficial interest interests in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred fifty thousand (100,00050,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3, as amended (Registration No: 333-211932), as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended or replaced from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust in the form filed with the SEC pursuant to Rule 424 from time to time (the “Prospectus”) included thereinadopted under the Securities Act of 1933, as amended (the “1933 Act”). Under the Trust IndentureAgreement, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized ParticipantsParticipants under the Trust Agreement, only through the facilities of the The Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold Japanese Yen that is transferred between the such Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”)Trust. Under the Trust IndentureAgreement, when the Trustee issues Baskets in exchange for Gold, the Gold Japanese Yen which are transferred by an Authorized Participant to the Participant Unallocated Account is transferred to London Branch of JPMorgan Chase Bank, N.A. (the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian“Depository”), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for GoldJapanese Yen, the Gold Japanese Yen held in the Trust Allocated Account is to be deallocated and are transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Authorized Participant Unallocated Account by the CustodianDepository. The foregoing Gold Japanese Yen transfers are also governed by the Trust’s Allocated Bullion Deposit Account Agreement and Unallocated Bullion Account Agreement the Trust has entered into with HSBCthe Depository, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian may be amended from time to time (collectively, the “Custody AgreementsDeposit Account Agreement”). This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘“distribution,’’ ” as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which that would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust IndentureAgreement. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust IndentureAgreement, the provisions of the Trust Indenture Agreement shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Equity Gold Trust (the "Trust") pursuant to the Trust Indenture of the Equity Gold Trust dated as of November 12__________ 2003 between World Gold Trust Services, 2004LLC, as amended from time to time, between Sponsor (the Sponsor "Sponsor") and the Trustee (the “"Trust Indenture”"). As provided specified in the Trust Indenture and described in the Prospectus (defined below)Indenture, units of fractional undivided beneficial interest in and ownership of the Trust (the “"Shares”") may be created or redeemed by the Trustee for an the Authorized Participant in aggregations of one hundred thousand (100,000) Shares (each aggregation, a “"Basket”"). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3S-1, as declared effective by amended (Registration No.: ________), which includes the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus current Prospectus of the Trust (the “"Prospectus”) included therein"). Under the Trust Indenture, the Trustee is authorized to issue Baskets to, and redeem Baskets from, the Authorized Participants, only through the facilities of the Depository Trust Company (“DTC”) or a successor depository, and only Participant in exchange for an amount of Gold that is transferred between the Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”). Under the Trust Indenture, when the Trustee issues creates Baskets in exchange for Gold, the Gold transferred by an the Authorized Participant to the Participant Unallocated Account is transferred to the Trust Unallocated Account and then is to be transferred and allocated every Business Day to the Trust Allocated Account by HSBC Bank USA, London Branch (the "Custodian"), pursuant to the Allocated Bullion Account Agreement and the Unallocated Bullion Account Agreement (together, the "Custody Agreements"), and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for Gold, the Gold held in the Trust Allocated Account is to be deallocated and transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Participant Unallocated Account by the Custodian. The foregoing Gold transfers are also governed by Custodian acting on the Trust’s Allocated Bullion Account Agreement and Unallocated Bullion Account Agreement with HSBC, as a Custodian, and instructions of the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”)Trustee. This Agreement sets forth the specific certain procedures by which an the Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘distribution,’’ as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust Indenture. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust Indenture, the provisions of the Trust Indenture shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows:

SUMMARY. The Trustee serves as the trustee of the Trust pursuant to the Trust Indenture dated as of November 12, 2004, as amended from time to time, between the Sponsor and the Trustee (the “Trust Indenture”). As provided in the Trust Indenture and described in the Prospectus (defined below), units of fractional undivided beneficial interest in and ownership of the Trust (the “Shares”) may be created or redeemed by the Trustee for an Authorized Participant in aggregations of one hundred thousand (100,000) Shares (each aggregation, a “Basket”). Baskets are offered only pursuant to the most recent registration statement of the Trust on Form S-3, as declared effective by the Securities and Exchange Commission (“SEC”) and as the same may be amended from time to time thereafter (collectively, the “Registration Statement”) together with the prospectus of the Trust (the “Prospectus”) included therein. Under the Trust Indenture, the Trustee is authorized to issue Baskets to, and redeem Baskets from, Authorized Participants, only through the facilities of the Depository Trust Company (“DTC”) or a successor depository, and only in exchange for an amount of Gold that is transferred between the Authorized Participant and the Trust through the Participant Unallocated Account (defined below) and the Trust Unallocated Account. This Agreement sets forth the specific procedures by which the Authorized Participant may create or redeem Baskets (i) with HSBC Bank Plc (“HSBC”), as a Custodian, pursuant to the procedures set forth in Attachment A (“HSBC’s Procedures”) or (ii) with JPMorgan Chase Bank, N.A. (“JPM”), as a Custodian, pursuant to the procedures set forth in Attachment C CD (“JPM’s Procedures” and, together with HSBC’s Procedures, the “Procedures”). Under the Trust Indenture, when the Trustee issues Baskets in exchange for Gold, the Gold transferred by an Authorized Participant to the Participant Unallocated Account is transferred to the Trust Unallocated Account and then transferred and allocated to the Trust Allocated Account by the Custodian, and when the Trustee redeems Baskets tendered for redemption by an Authorized Participant in exchange for Gold, the Gold held in the Trust Allocated Account is to be deallocated and transferred to the Trust Unallocated Account and then transferred from the Trust Unallocated Account to the Participant Unallocated Account by the Custodian. The foregoing Gold transfers are also governed by the Trust’s Allocated Bullion Account Agreement and Unallocated Bullion Account Agreement with HSBC, as a Custodian, and the Trust’s Allocated Precious Metal Account Agreement and Unallocated Precious Metal Account Agreement with JPM, as a Custodian (collectively, the “Custody Agreements”)) and the Participant Unallocated Bullion Account Agreement. This Agreement sets forth the specific procedures by which an Authorized Participant may create or redeem Baskets. Because new Shares can be created and issued on an ongoing basis, at any point during the life of the Trust, a ‘‘distribution,’’ as such term is used in the Securities Act of 1933, as amended (“1933 Act”), may be occurring. The Authorized Participant is cautioned that some of its activities may result in its being deemed a participant in a distribution in a manner which would render it a statutory underwriter and subject it to the prospectus-delivery and liability provisions of the 1933 Act. The Authorized Participant should review the “Plan of Distribution” portion of the Prospectus and consult with its own counsel in connection with entering into this Agreement and placing an Order (defined below). Capitalized terms used but not defined in this Agreement shall have the meanings assigned to such terms in the Trust Indenture. To the extent there is a conflict between any provision of this Agreement and the provisions of the Trust Indenture, the provisions of the Trust Indenture shall control. To give effect to the foregoing premises and in consideration of the mutual covenants and agreements set forth below, the parties hereto agree as follows: