Silver Association Press Release Regarding the Silver ETF November 22, 2005 The silver association believes that the creation of a silver ETF is necessary for the integrity of the market and economy. A silver ETF would increase liquidity in the silver market by enabling faster transactions and stimulate investment that is required for free and fair trade. The Silver Users Association is attempting to apply pressure onto the Securities and Exchange Commission to block the silver ETF for the reason that silver might rise in price. Not only is this unfair to market participants, in the long run this policy may prove to work against silver consumers. If there is indeed a lack of abundance in silver supplies, increased investment will be necessary in order to create a larger capacity for producing silver. By promoting increased investment in the silver industry, market forces will work to attract mining, refining, and other capital investment. It will also raise the job outlook for so many hardworking people in the industry. Therefore the Silver Association holds the position that the creation of a silver ETF would be equally beneficial for both silver providers and consumers.