SUBSCRIBER NOTE: London Silver Price after August 14, 2014

Platts will begin publishing the daily London Silver Price in dollars/troy ounce in all publications and services, effective August 15, 2014, under the new symbol MMAXD00. This new dollars/oz silver price will also be available as a full weekly average from August 22, 2014, under symbol MMAXD01. The first full monthly average will be for September, published September 30, 2014, under symbol MMAXD02.

Platts will also continue to publish the existing London Silver Fix series in cents/troy ounce and pence/troy ounce under symbols MMACF10 and MMACE10, respectively. The weekly and monthly averages will also continue to be published, including for the week ending August 15, 2014, and month of August. Platts is continuing to publish these prices to ensure continuity for the data series through any transition period toward new pricing.

As previously announced, effective August 15, 2014, the Chicago Mercantile Exchange (CME) and Thomson Reuters plan to administer and publish a daily reference price reflecting the supply and demand balance for silver bullion, location London, which will be referred to as the London Silver Price. The London Bullion Market Association has approved the planned new price and International Swaps & Derivative Association will recognize the planned new price as an alternative to the Silver Fix in contracts that reference the Silver Fix.

Platts will monitor the new silver pricing mechanism and would like to continue receiving industry feedback on whether the London silver price going forward is reflective of market value and used by the industry.

Please send any further comments to: ben.kilbey@platts.com and karen.mcbeth@platts.com, copying pricegroup@platts.com.