Allocated Bullion Account Agreement
The agreement between the Trustee and the Custodian which establishes the Trust Allocated Account. The Allocated Bullion Account Agreement and the Unallocated Bullion Account Agreement are sometimes referred to together as the "Custody Agreements."

Adjusted Net Asset Value (ANAV)
As of the London PM Fix on each business day or, if there is no London PM Fix on a business day or the London PM Fix has not been announced by 12:00 PM New York time on a business day, as of 12:00 PM New York time on such day (Evaluation Time), the Trustee will evaluate the gold held by the Trust and determine both the ANAV and the NAV of the Trust. For purposes of making these calculations, a "business day" means any day other than a day when the NYSE is closed for regular trading The ANAV of the Trust is used to compute all fees (including the Trustee's and the Sponsor's fees) which are calculated from the value of the Trust's assets.
Once the value of the gold has been determined, the Trustee will subtract all accrued fees (other than the fees to be computed by reference to the value of the Trust’s assets), expenses and other liabilities of the Trust from the total value of the gold and all other assets of the Trust (other than any amounts credited to the Trust’s reserve account, if established). The resulting figure is the ANAV of the Trust. The ANAV of the Trust is used to compute all fees (including the Trustee’s and the Sponsor’s fees) which are calculated from the value of the Trust’s assets.

Authorized Participant
A person who (1) is a registered broker-dealer or other securities market participant, (2) is a participant in DTC, (3) has entered into a Participant Agreement with the Trustee and (4) has established an Authorized Participant Unallocated Account with the Custodian. Only Authorized Participants may place orders to create or redeem one or more Baskets.

Authorized Participant Unallocated Account
An unallocated gold account established with the Custodian by an Authorized Participant. Each Authorized Participant's Authorized Participant Unallocated Account will be used to facilitate the transfer of gold deposits and gold redemption distributions between the Authorized Participant and the Trust in connection with the creation and redemption of Baskets.

Basket
A block of 100,000 Shares. Multiple blocks of 100,000 Shares are called Baskets.

BNY
The Bank of New York, a banking corporation organized under the laws of the State of New York with Trust powers. BNY is the Trustee of the Trust.

Book Entry System
The Federal Reserve Treasury Book Entry System for United States and federal agency securities.

CFTC
Commodity Futures Trading Commission, an independent agency with the mandate to regulate commodity futures and option markets in the United States.

Clearing Agency
Any clearing agency or similar system other than the Book Entry System or DTC.

Code
The United States Internal Revenue Code of 1986, as amended.

Creation Basket Deposit
The total deposit required to create a Basket will be an amount of gold and cash, if any, that is in the same proportion to the total assets of the Trust (net of accrued but unpaid expenses) on the date the order to purchase is properly received as the number of Shares to be created in respect of the deposit bears to the total number of Shares outstanding on the date the order is received.

Custodian
HSBC Bank USA, a New York banking corporation and a market maker, clearer and approved weigher under the rules of the LBMA.

Custody Agreements
The Allocated Bullion Account Agreement together with the Unallocated Bullion Account Agreement.

Custody Rules
The rules, regulations, practices and customs of the LBMA, the Bank of England or any applicable regulatory body which apply to gold made available in physical form by the Custodian.

DTC
The Depository Trust Company. DTC is a limited purpose Trust company organized under New York law, a member of the US Federal Reserve System and a clearing agency registered with the SEC. DTC will act as the securities depository for the Shares.

DTC Participant
Participants in DTC, such as banks, brokers, dealers and Trust companies.

ERISA
The Employee Retirement Income Security Act of 1974, as amended.

Evaluation Time
The time when the Trustee will evaluate the gold held by the Trust and determine both the NAV and the ANAV of the Trust, which is currently as of the London PM Fix on each business day or, if there is no London PM Fix on a business day or the London PM Fix has not been announced by 12:00 PM New York time on a business day, as of 12:00 PM New York time on such day. For purposes of making these calculations, a business day means any day other than a day when either the NYSE is closed for trading or banks are authorized to close in New York City.

Exchange Act
The Securities Exchange Act of 1934, as amended.

FSA
The Financial Services Authority, an independent non-governmental body which exercises statutory regulatory power under the FSM Act.

FSM Act
The Financial Services and Markets Act 2000.

GFMS
Gold Fields Mineral Services Ltd.

Gold per share
The amount of gold to which each share is entitled will decline gradually over time as gold in the Trust is sold to pay expenses. This reduction will apply to all shares on issue and all shares will always be entitled to the same amount of gold bullion. Initially all shares will be worth 0.10oz.

HSBC
HSBC Bank USA, a New York banking corporation and a market maker, clearer and approved weigher under the rules of the LBMA. HSBC is the Custodian of the Trust's gold.

Indirect Participants
Those banks, brokers, dealers, Trust companies and others who maintain, either directly or indirectly, a custodial relationship with a DTC Participant.

Initial Purchaser
UBS Securities LLC, purchaser of the seed Basket and the initial Baskets, as described on the front page of this prospectus.

LBMA
The London Bullion Market Association. The LBMA is the trade association that acts as the coordinator for activities conducted on behalf of its members and other participants in the London bullion market. In addition to coordinating market activities, the LBMA acts as the principal point of contact between the market and its regulators. A primary function of the LBMA is its involvement in the promotion of refining standards by maintenance of the London Good Delivery Lists, which are the lists of LBMA accredited melters and assayers of gold. Further, the LBMA coordinates market clearing and vaulting, promotes good trading practices and develops standard documentation. The major participating members of the LBMA are regulated by the FSA in the United Kingdom under the FSM Act.

London Good Delivery Bar
A bar of gold meeting the London Good Delivery Standards.

London Good Delivery Standards
The specifications for weight, dimensions, fineness (or purity), identifying marks and appearance of gold bars as set forth in The Good Delivery Rules for Gold and Silver Bars published by the LBMA.

London PM Fix
The afternoon session of the twice daily fix of the price of an ounce of gold which starts at 3:00 PM London, England time and is performed in London by the five members of the London gold fix. See Operation of Gold Bullion Market - The London Bullion Market for a description of the operation of the London PM Fix.

METI
Japan's Ministry of Economy, Trade and Industry.

NASD
National Association of Securities Dealers.

NAV
Net asset value. See Description of the Trust Indenture — Valuation of Gold, Definition of Net Asset Value and Adjusted Net Asset Value for a description of how the NAV of the Trust and the NAV per Share are calculated.

Net Asset Value (NAV)
Having valued the gold, the Trustee determines the Adjusted Net Asset Value (ANAV) of the Trust. The ANAV of the Trust is used to compute all fees (including the Trustee's and the Sponsor's fees) which are calculated from the value of the Trust's assets.
To determine the Trust's NAV, the Trustee will subtract the amount of accrued fees computed from the value of the Trust's assets using ANAV from the ANAV amount.

NAV per Share
The Trustee will determine the NAV per Share by dividing the NAV of the Trust by the number of the Shares outstanding as of the close of trading on the NYSE.

NYSE
The New York Stock Exchange.

OTC
The global Over-the-Counter market for the trading of gold which consists of transactions in spot, forwards, and options and other derivatives.

Participant Agreement
An agreement entered into by each Authorized Participant, the Sponsor and the Trustee which provides the procedures for the creation and redemption of Baskets and for the delivery of the gold and any cash required for such creations and redemptions.

Participant Unallocated Bullion Account Agreement
The agreement between an Authorized Participant and the Custodian which establishes the Authorized Participant Unallocated Account.

Plans
Employee benefit plans and certain other plans and arrangements, including individual retirement accounts and annuities, Keogh plans, and certain collective investment funds or insurance company general or separate accounts in which such plans or arrangements are invested, that are subject to ERISA and/or section 4975 of the Code.

Securities Act
The Securities Act of 1933, as amended.

Shareholders
Owners of beneficial interests in the Shares.

Shares
Units of fractional undivided beneficial interest in and ownership of the Trust which are issued by the Trust and named streetTRACKS Gold Shares.

Sponsor
World Gold Trust Services, LLC, a Delaware limited liability company wholly-owned by the WGC.

TOCOM
The Tokyo Commodity Exchange.

Tonne
One metric tonne which is equivalent to 1,000 kilograms or 32,150.7465 troy ounces.

Trust
The streetTRACKS Gold Trust, an investment Trust, formed on • , 2003 under New York law pursuant to the Trust Indenture.

Trust Allocated Account
The allocated gold account of the Trust established with the Custodian by the Allocated Bullion Account Agreement. The Trust Allocated Account will be used to hold the gold deposited with the Trust in allocated form (i.e., as individually identified bars of gold).

Trustee
The Bank of New York, a corporation organized under the laws of the State of New York with Trust powers.

Trust Indenture
The agreement entered into by the Sponsor and the Trustee under which the Trust is formed and which sets forth the roles and responsibilities of the Sponsor, the Trustee and Custodian.

Trust Unallocated Account
The unallocated gold account of the Trust established with the Custodian by the Unallocated Bullion Account Agreement. The Trust Unallocated Account will be used to facilitate the transfer of gold deposits and gold redemption distributions between Authorized Participants and the Trust in connection with the creation and redemption of Baskets and the sales of gold made by the Trustee for the Trust.

Unallocated Bullion Account Agreement
The agreement between the Trustee and the Custodian which establishes the Trust Unallocated Account. The Allocated Bullion Account Agreement and the Unallocated Bullion Account Agreement are sometimes referred to as the Custody Agreements.

US Shareholder
A Shareholder that is (1) an individual who is treated as a citizen or resident of the United States for US federal income tax purposes; (2) a corporation or partnership created or organized in or under the laws of the United States or any political subdivision thereof; (3) an estate, the income of which is includible in gross income for US federal income tax purposes regardless of its source; or (4) a Trust, if a court within the United States is able to exercise primary supervision over the administration of the Trust and one or more US persons have the authority to control all substantial decisions of the Trust.

WGC
World Gold Council, a not-for-profit association registered under Swiss law and the sole member of the Sponsor.

WGTS
World Gold Trust Services, LLC, a Delaware limited liability company wholly-owned by the WGC. WGTS is the Sponsor of the Trust.