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To: BWAC who wrote (50372)	1/6/2004 10:12:30 PM
From: Triffin	Respond to of 53068

RE: Gold ETF Check out CEF .. pretty close to an ETF .. Central Fund of Canada Limited operates as a specialized investment holding company, investing most of its assets in gold and silver bullion. The stated investment policy of the Company is to maintain a minimum of 90% of its net assets in gold and silver bullion, of which at least 85% must be in physical form. On October 31, 2002, 97.5% of Central Fund's net assets were invested in gold and silver bullion. The Company's bullion is stored on a fully segregated basis in the underground vaults of the Canadian Imperial Bank of Commerce, a bank in North America. The Company also holds a small portfolio of equity securities in gold and/or silver producers. Triffin