Silver Exchange -Traded Fund Crosses Over 200 Million-Ounce Mark

(Washington, D.C. - July 30, 2008) Yesterday, the iShares Silver Trust exchange-traded fund (ETF) achieved a major milestone, as over 200 million ounces of physical silver are currently held by the trust. Launched in April of 2006, this investment vehicle--trading on the American Stock Exchange under the symbol "SLV"--has proven in just over two years to be one the most successful commodity ETFs on the market. The ETF is managed by Barclays Global Investors (BGI), and the total assets in the trust were $3,514,052,696 as of yesterday.

This exciting investment tool has made investing in silver more convenient because a grantor trust holds the metal on behalf of the investor, thus giving the investor exposure to the market without the necessity of taking physical delivery and thereby having no storage, insurance or assaying costs.

The Silver Institute served as an advisor to BGI during the ETF registration process and continues to provide BGI materials relevant to the global silver market. Michael DiRienzo, Executive Director of the Silver Institute, stated, "Silver's strong price performance over the past three and one-half years has brought renewed investor interest to the white metal, and this is certainly reflected in the success of the iShares Silver Trust product."

The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. Established in 1971, the Institute serves as the industry's voice in increasing public understanding of the value and many uses of silver.

For Further Information Contact:
Mike DiRienzo
The Silver Institute
888 16th Street, N.W., Suite 303
Washington, D.C. 20006
Tel: (202) 835-0185
Fax: (202) 835-0155