Statement of Commitment to the Global Precious Metals Code

STATEMENT OF COMMITMENT TO THE GLOBAL PRECIOUS METALS CODE

Goldman Sachs International (“GSI”) has reviewed the Global Precious Metals  Code (“Code”) and acknowledges that the Code’s principles represent minimum standards of expected best practice in the wholesale Precious Metals Market (“Market”). GSI confirms that it acts as a Market Participant as defined by the Code and is committed to conducting its Market activities (“Activities”) in adherence with the principles of the Code.  To this end, GSI has taken appropriate steps, based on the size and complexity of its Activities, and the nature of its engagement in the Market, to ensure its Activities comply with the principles of the Code.

Goldman Sachs International