First Day of Dealing

RNS Number:0090T
Gold Bullion Securities Ld
9 December 2003




                              NOT FOR DISTRIBUTION IN THE US

9 December 2003
                                Gold Bullion Securities



  * First day of dealings on the main market of the London Stock Exchange
  * GBS to trade on SETS MM platform, quoted under 'other financials' in the
    FTSE



Gold Bullion Securities Limited, an initiative of the World Gold Council, is
today pleased to announce that it has been admitted to the official list and
trading has begun on the main market of the London Stock Exchange.



Gold Bullion Securities are gold-backed securities that enable investors to
trade an interest in gold bullion on the London Stock Exchange. Each Gold
Bullion Security represents a beneficial interest in one-tenth of a fine troy
ounce of gold bullion.



  * Gold Bullion Securities will be listed under the symbol GBS.
  * Each Gold Bullion Security is comprised of a note of nominal value and an
    undivided beneficial interest in Gold Trust Assets.
  * Each security will initially be entitled to exactly one-tenth of one fine
    troy ounce of gold bullion.
  * The gold backing the securities will be held in vaults by custodian bank,
    HSBC Bank USA, or its sub-custodians.
  * A management fee of 0.30% per annum, covering custody fees and all other
    incidental expenses, will accrue daily and be paid out of trust assets.
  * The listing on the London Stock Exchange follows the successful listing of
    a similar product on the Australian Stock Exchange earlier this year.
  * A number of major international banks have signed up to be market makers.
  * Investors will be able to buy Gold Bullion Securities from regulated
    financial institutions.



Simon Village, Joint Managing Director of Gold Bullion Securities Limited, said:
"We are delighted to be listing on the London Stock Exchange today. Since
announcing the launch of the Gold Bullion Securities' prospectus only last week,
we have had very positive feedback and support from both the private and
institutional investment community. We are looking forward to a gradual build up
of trust assets as people get to know this revolutionary new investment 
product."




James Burton, Chief Executive Officer of the World Gold Council, which supported
the initiative, said: "Today represents a landmark in the history of the world's
oldest investment. Gold has represented an important currency for thousands of
years and a major store of value for governments, institutions and individuals
alike. The listing of Gold Bullion Securities will further develop gold's
historical role and is another ground-breaking step in its evolution."



"This is a great day for the World Gold Council. We are proud to have achieved
our aim of bringing an investment product to market which will allow both
institutional and retail investors to invest in gold bullion easily for the
first time."



                                    - Ends -



For further information, photography, or to arrange an interview, contact:



Anita Saunders, Head of Public Relations, World Gold Council, on 0207 766 2716
or 07769 682373. Alternatively, e-mail: [e-mail]



Richard Campbell, Director, Capital MS&L, on 020 7878 3243 or 07775 784933.
Alternatively, e-mail: [e-mail]



Free of Charge images are available to download at www.newscast.co.uk 
T: [phone]


To obtain a copy of the prospectus, visit the website at www.goldbullion.com


Notes to Editors:


World Gold Council


The World Gold Council (WGC), a commercially-driven marketing organisation, is
funded by the world's leading gold mining companies.  A global advocate for
gold, the WGC aims to promote the demand for gold in all its forms through
marketing activities in major international markets.  For further information
visit www.gold.org



1.   A Gold Bullion Security comprises a secured note of nominal
value issued by Gold Bullion Securities Ltd, which carries with it an
entitlement to gold bullion held on trust.



2.   Potential investors should be aware that while the World
Gold Council has consented to the issue of this press release, it takes no
responsibility as to its contents and does not carry on activities relating to
the sale of Gold Bullion Securities. Gold Bullion Securities will be solely
obligations of Gold Bullion Securities Limited and Gold Bullion Nominees
Limited. The World Gold Council does not provide any guarantee in respect of
Gold Bullion Securities and is not responsible or liable for Gold Bullion
Securities or any acquisition of Gold Bullion Securities in any way.



3.   Reference should be had to the Prospectus dated 1 December
2003 for a full description of Gold Bullion Securities. The comments in this
press release are summary only and should not be relied on for the purpose of
any decision as to whether to invest in Gold Bullion Securities.



Potential investors should be aware that the World Gold Council takes no
responsibility as to the contents of this document and does not carry on
activities relating to the sale of Gold Bullion Securities.  Gold Bullion
Securities will be the sole obligation of Gold Bullion Securities Limited and
Gold Bullion Nominees Limited.  The World Gold Council does not provide any
guarantee in respect of Gold Bullion Securities and is not responsible or liable
for Gold Bullion Securities or any acquisition of Gold Bullion Securities in any
way, unauthorised persons should not rely on the information contained herein.







                      This information is provided by RNS
            The company news service from the London Stock Exchange

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