is COMEX Gold Trust 2005 Grantor Trust Tax Reporting Statement EIN: 816124036 The following information is being provided to assist holders of the is COMEX Gold Trust with reporting of their taxable income, expenses, gain or loss for the calendar year 2005. The example provided herein is based on a US individual holder who purchased its is COMEX Gold Trust shares for cash. All holders should contact their own tax advisors as to the tax consequences of the information reported in Schedules A and B below. TAXATION OF THE TRUST The is COMEX Gold Trust is classified as a grantor trust, for US federal income tax purposes. As a result, the Trust itself will not be subject to US federal income tax. Instead, the Trust s income and expenses will flow through to the holders. TAXATION OF US INDIVIDUAL SHAREHOLDERS holders generally will be treated, for US federal income tax purposes, as if they directly owned a pro rata share of the underlying assets held in the Trust. holders also will be treated as if they directly received their respective pro rata shares of the Trust s income and proceeds, and directly incurred their pro rata share of the Trust s expenses. In the case of a holder that purchases s for cash, its initial tax basis in its pro rata shares of the assets held in the Trust at the time it acquires its s will be equal to its cost of acquiring the s. Most state and local tax authorities follow US Income tax rules in this regard. However, holders should contact their own tax advisors as to the state and local tax consequences of the information reported on Schedules A and B.
per Per 01/21/2005 0.10000000 - - - 01/24/2005 0.09999670 0.00000330 0.00140880 0.00140880 01/25/2005 0.09999560 0.00000110 0.00046420 0.00046420 01/26/2005 0.09999450 0.00000110 0.00046960 0.00046960 01/27/2005 0.09999340 0.00000047 0.00020097 0.00020097 01/28/2005 0.09999230 0.00000110 0.00046837 0.00046837 Per 01/31/2005 0.09998900 0.00000330 0.00139194 0.00139194 0.00001037 0.00440388 0.00440388 02/01/2005 0.09998790 0.00000010 0.00004500 0.00004500 02/02/2005 0.09998680 0.00000066 0.00028026 0.00028026 02/03/2005 0.09998570 0.00000109 0.00045818 0.00045818 02/04/2005 0.09998460 0.00000109 0.00045533 0.00045533 02/07/2005 0.09998130 0.00000329 0.00136467 0.00136467 02/08/2005 0.09998020 0.00000070 0.00029189 0.00029189 02/09/2005 0.09997910 0.00000109 0.00045410 0.00045410 02/10/2005 0.09997800 0.00000109 0.00045883 0.00045883 02/11/2005 0.09997690 0.00000109 0.00046245 0.00046245 02/14/2005 0.09997360 0.00000329 0.00140486 0.00140486 02/15/2005 0.09997250 0.00000083 0.00035510 0.00035510 02/16/2005 0.09997140 0.00000109 0.00046791 0.00046791 02/17/2005 0.09997030 0.00000109 0.00046989 0.00046989 02/18/2005 0.09996920 0.00000109 0.00046966 0.00046966 02/22/2005 0.09996480 0.00000439 0.00191123 0.00191123 02/23/2005 0.09996370 0.00000088 0.00038636 0.00038636 02/24/2005 0.09996260 0.00000109 0.00047777 0.00047777 02/25/2005 0.09996150 0.00000109 0.00047821 0.00047821 02/28/2005 0.09995820 0.00000329 0.00143992 0.00143992 0.00002833 0.01213162 0.01213162 03/01/2005 0.09995710 0.00000109 0.00047598 0.00047598 03/02/2005 0.09995600 0.00000109 0.00047587 0.00047587 03/03/2005 0.09995490 0.00000109 0.00047269 0.00047269 03/04/2005 0.09995380 0.00000109 0.00047741 0.00047741 03/07/2005 0.09995050 0.00000319 0.00138882 0.00138882 03/08/2005 0.09994940 0.00000109 0.00048410 0.00048410 03/09/2005 0.09994830 0.00000109 0.00048605 0.00048605 03/10/2005 0.09994721 0.00000109 0.00048682 0.00048682 03/11/2005 0.09994611 0.00000109 0.00049056 0.00049056 03/14/2005 0.09994281 0.00000329 0.00145486 0.00145486 03/15/2005 0.09994171 0.00000134 0.00059305 0.00059305 03/16/2005 0.09994061 0.00000109 0.00048779 0.00048779 03/17/2005 0.09993951 0.00000109 0.00048229 0.00048229 03/18/2005 0.09993841 0.00000109 0.00048295 0.00048295 03/21/2005 0.09993510 0.00000331 0.00142712 0.00142712 03/22/2005 0.09993401 0.00000141 0.00061061 0.00061061 03/23/2005 0.09993291 0.00000109 0.00046741 0.00046741 03/24/2005 0.09993181 0.00000109 0.00046686 0.00046686 03/28/2005 0.09992742 0.00000621 0.00264861 0.00264861 03/29/2005 0.09992632 0.00000109 0.00046823 0.00046823 03/30/2005 0.09992522 0.00000109 0.00046922 0.00046922 03/31/2005 0.09992412 0.00000109 0.00047120 0.00047120 0.00003619 0.01576850 0.01576850
per Per 04/01/2005 0.09992302 0.00000109 0.00046812 0.00046812 04/04/2005 0.09991974 0.00000577 0.00244611 0.00244611 04/05/2005 0.09991864 0.00000109 0.00046652 0.00046652 04/06/2005 0.09991755 0.00000109 0.00046938 0.00046938 04/07/2005 0.09991645 0.00000109 0.00046872 0.00046872 04/08/2005 0.09991535 0.00000109 0.00046916 0.00046916 04/11/2005 0.09991205 0.00000329 0.00141309 0.00141309 04/12/2005 0.09991095 0.00000109 0.00046993 0.00046993 04/13/2005 0.09990985 0.00000109 0.00047180 0.00047180 04/14/2005 0.09990875 0.00000109 0.00046597 0.00046597 04/15/2005 0.09990765 0.00000109 0.00046696 0.00046696 04/18/2005 0.09990436 0.00000329 0.00140946 0.00140946 04/19/2005 0.09990326 0.00000109 0.00047575 0.00047575 04/20/2005 0.09990216 0.00000109 0.00047839 0.00047839 04/21/2005 0.09990106 0.00000109 0.00047586 0.00047586 04/22/2005 0.09989996 0.00000109 0.00047729 0.00047729 04/25/2005 0.09989666 0.00000329 0.00143287 0.00143287 04/26/2005 0.09989557 0.00000109 0.00048114 0.00048114 04/27/2005 0.09989447 0.00000109 0.00047576 0.00047576 04/28/2005 0.09989337 0.00000109 0.00047389 0.00047389 Per 04/29/2005 0.09989227 0.00000109 0.00047795 0.00047795 0.00003417 0.01473412 0.01473412 05/02/2005 0.09988897 0.00000329 0.00141574 0.00141574 05/03/2005 0.09988787 0.00000109 0.00046883 0.00046883 05/04/2005 0.09988678 0.00000109 0.00047136 0.00047136 05/05/2005 0.09988568 0.00000109 0.00047224 0.00047224 05/06/2005 0.09988458 0.00000109 0.00046817 0.00046817 05/09/2005 0.09988128 0.00000329 0.00140486 0.00140486 05/10/2005 0.09988018 0.00000109 0.00046938 0.00046938 05/11/2005 0.09987908 0.00000109 0.00046938 0.00046938 05/12/2005 0.09987799 0.00000109 0.00046323 0.00046323 05/13/2005 0.09987689 0.00000109 0.00046169 0.00046169 05/16/2005 0.09987359 0.00000329 0.00138080 0.00138080 05/17/2005 0.09987249 0.00000109 0.00046071 0.00046071 05/18/2005 0.09987139 0.00000109 0.00046301 0.00046301 05/19/2005 0.09987029 0.00000109 0.00046192 0.00046192 05/20/2005 0.09986920 0.00000109 0.00045851 0.00045851 05/23/2005 0.09986590 0.00000329 0.00137290 0.00137290 05/24/2005 0.09986480 0.00000109 0.00045862 0.00045862 05/25/2005 0.09986370 0.00000109 0.00046005 0.00046005 05/26/2005 0.09986261 0.00000109 0.00045917 0.00045917 05/27/2005 0.09986151 0.00000109 0.00046115 0.00046115 05/31/2005 0.09985711 0.00000439 0.00182922 0.00182922 0.00003499 0.01483094 0.01483094
per Per 06/01/2005 0.09985601 0.00000109 0.00045620 0.00045620 06/02/2005 0.09985492 0.00000109 0.00046433 0.00046433 06/03/2005 0.09985382 0.00000109 0.00046543 0.00046543 06/06/2005 0.09985052 0.00000329 0.00140553 0.00140553 06/07/2005 0.09984942 0.00000109 0.00046653 0.00046653 06/08/2005 0.09984833 0.00000109 0.00046642 0.00046642 06/09/2005 0.09984723 0.00000109 0.00046587 0.00046587 06/10/2005 0.09984613 0.00000109 0.00046939 0.00046939 06/13/2005 0.09984283 0.00000329 0.00141443 0.00141443 06/14/2005 0.09984174 0.00000109 0.00046950 0.00046950 06/15/2005 0.09984064 0.00000109 0.00047126 0.00047126 06/16/2005 0.09983954 0.00000109 0.00047905 0.00047905 06/17/2005 0.09983844 0.00000109 0.00048136 0.00048136 06/20/2005 0.09983515 0.00000329 0.00144441 0.00144441 06/21/2005 0.09983405 0.00000109 0.00048202 0.00048202 06/22/2005 0.09983295 0.00000109 0.00048114 0.00048114 06/23/2005 0.09983185 0.00000109 0.00048509 0.00048509 06/24/2005 0.09983075 0.00000109 0.00048378 0.00048378 06/27/2005 0.09982746 0.00000329 0.00145067 0.00145067 06/28/2005 0.09982636 0.00000109 0.00047916 0.00047916 06/29/2005 0.09982526 0.00000109 0.00048015 0.00048015 Per 06/30/2005 0.09982416 0.00000109 0.00047861 0.00047861 0.00003278 0.01424033 0.01424033 07/01/2005 0.09982307 0.00000109 0.00046972 0.00046972 07/05/2005 0.09981867 0.00000439 0.00185737 0.00185737 07/06/2005 0.09981758 0.00000109 0.00046500 0.00046500 07/07/2005 0.09981648 0.00000109 0.00046478 0.00046478 07/08/2005 0.09981538 0.00000109 0.00046434 0.00046434 07/11/2005 0.09981209 0.00000329 0.00140159 0.00140159 07/12/2005 0.09981099 0.00000109 0.00046807 0.00046807 07/13/2005 0.09980989 0.00000109 0.00046544 0.00046544 07/14/2005 0.09980879 0.00000109 0.00046072 0.00046072 07/15/2005 0.09980769 0.00000109 0.00046192 0.00046192 07/18/2005 0.09980440 0.00000329 0.00138512 0.00138512 07/19/2005 0.09980330 0.00000109 0.00046072 0.00046072 07/20/2005 0.09980221 0.00000109 0.00046292 0.00046292 07/21/2005 0.09980111 0.00000109 0.00046698 0.00046698 07/22/2005 0.09980001 0.00000109 0.00046621 0.00046621 07/25/2005 0.09979672 0.00000329 0.00140193 0.00140193 07/26/2005 0.09979562 0.00000109 0.00046478 0.00046478 07/27/2005 0.09979452 0.00000109 0.00046621 0.00046621 07/28/2005 0.09979342 0.00000109 0.00046917 0.00046917 07/29/2005 0.09979230 0.00000098 0.00042420 0.00042420 0.00003159 0.01344719 0.01344719
per Per 08/01/2005 0.09978901 0.00000329 0.00142235 0.00142235 08/02/2005 0.09978791 0.00000109 0.00047411 0.00047411 08/03/2005 0.09978682 0.00000109 0.00047960 0.00047960 08/04/2005 0.09978572 0.00000109 0.00048070 0.00048070 08/05/2005 0.09978462 0.00000109 0.00047993 0.00047993 08/08/2005 0.09978133 0.00000329 0.00143128 0.00143128 08/09/2005 0.09978023 0.00000109 0.00047654 0.00047654 08/10/2005 0.09977913 0.00000109 0.00047907 0.00047907 08/11/2005 0.09977803 0.00000109 0.00048894 0.00048894 08/12/2005 0.09977694 0.00000109 0.00048938 0.00048938 08/15/2005 0.09977364 0.00000329 0.00145597 0.00145597 08/16/2005 0.09977255 0.00000109 0.00048960 0.00048960 08/17/2005 0.09977145 0.00000109 0.00048280 0.00048280 08/18/2005 0.09977035 0.00000109 0.00048236 0.00048236 08/19/2005 0.09976925 0.00000109 0.00047983 0.00047983 08/22/2005 0.09976596 0.00000329 0.00144248 0.00144248 08/23/2005 0.09976486 0.00000109 0.00048225 0.00048225 08/24/2005 0.09976377 0.00000109 0.00047985 0.00047985 08/25/2005 0.09976267 0.00000109 0.00048105 0.00048105 08/26/2005 0.09976249 0.00000018 0.00007892 0.00007892 08/29/2005 0.09975921 0.00000327 0.00143326 0.00143326 08/30/2005 0.09975812 0.00000109 0.00047141 0.00047141 Per 08/31/2005 0.09975702 0.00000109 0.00047425 0.00047425 0.00003514 0.01543593 0.01543593 09/01/2005 0.09975593 0.00000109 0.00048354 0.00048354 09/02/2005 0.09975484 0.00000109 0.00048562 0.00048562 09/06/2005 0.09975046 0.00000409 0.00182054 0.00182054 09/07/2005 0.09974937 0.00000109 0.00048629 0.00048629 09/08/2005 0.09974828 0.00000109 0.00048826 0.00048826 09/09/2005 0.09974718 0.00000109 0.00049078 0.00049078 09/12/2005 0.09974390 0.00000327 0.00147463 0.00147463 09/13/2005 0.09974281 0.00000109 0.00048761 0.00048761 09/14/2005 0.09974172 0.00000109 0.00049165 0.00049165 09/15/2005 0.09974062 0.00000109 0.00049788 0.00049788 09/16/2005 0.09973953 0.00000109 0.00050225 0.00050225 09/19/2005 0.09973625 0.00000305 0.00142535 0.00142535 09/20/2005 0.09973516 0.00000109 0.00050952 0.00050952 09/21/2005 0.09973407 0.00000109 0.00051248 0.00051248 09/22/2005 0.09973297 0.00000109 0.00050996 0.00050996 09/23/2005 0.09973188 0.00000109 0.00050657 0.00050657 09/26/2005 0.09972860 0.00000327 0.00152760 0.00152760 09/27/2005 0.09972751 0.00000109 0.00050559 0.00050559 09/28/2005 0.09972641 0.00000109 0.00051335 0.00051335 09/29/2005 0.09972532 0.00000109 0.00051619 0.00051619 09/30/2005 0.09972423 0.00000109 0.00051259 0.00051259 0.00003221 0.01474825 0.01474825
per Per 10/03/2005 0.09972095 0.00000327 0.00152825 0.00152825 10/04/2005 0.09971986 0.00000109 0.00050932 0.00050932 10/05/2005 0.09971876 0.00000109 0.00050932 0.00050932 10/06/2005 0.09971767 0.00000109 0.00051566 0.00051566 10/07/2005 0.09971658 0.00000109 0.00051872 0.00051872 10/10/2005 0.09971330 0.00000327 0.00155749 0.00155749 10/11/2005 0.09971221 0.00000109 0.00052134 0.00052134 10/12/2005 0.09971112 0.00000109 0.00051785 0.00051785 10/13/2005 0.09971002 0.00000109 0.00051479 0.00051479 10/14/2005 0.09970893 0.00000109 0.00051271 0.00051271 10/17/2005 0.09970565 0.00000327 0.00155421 0.00155421 10/18/2005 0.09970456 0.00000109 0.00051588 0.00051588 10/19/2005 0.09970347 0.00000109 0.00050648 0.00050648 10/20/2005 0.09970237 0.00000092 0.00042811 0.00042811 10/21/2005 0.09970128 0.00000109 0.00051027 0.00051027 10/24/2005 0.09969800 0.00000327 0.00152427 0.00152427 10/25/2005 0.09969691 0.00000109 0.00051653 0.00051653 10/26/2005 0.09969582 0.00000109 0.00051478 0.00051478 10/27/2005 0.09969473 0.00000109 0.00051762 0.00051762 10/28/2005 0.09969363 0.00000109 0.00051675 0.00051675 Per 10/31/2005 0.09969036 0.00000327 0.00152436 0.00152436 0.00003362 0.01583471 0.01583471 11/01/2005 0.09968926 0.00000109 0.00050123 0.00050123 11/02/2005 0.09968817 0.00000109 0.00050560 0.00050560 11/03/2005 0.09968708 0.00000109 0.00050266 0.00050266 11/04/2005 0.09968599 0.00000109 0.00049850 0.00049850 11/07/2005 0.09968271 0.00000327 0.00150437 0.00150437 11/08/2005 0.09968162 0.00000109 0.00050345 0.00050345 11/09/2005 0.09968052 0.00000109 0.00050935 0.00050935 11/10/2005 0.09967943 0.00000109 0.00050968 0.00050968 11/11/2005 0.09967834 0.00000109 0.00051154 0.00051154 11/14/2005 0.09967506 0.00000327 0.00153429 0.00153429 11/15/2005 0.09967397 0.00000109 0.00051132 0.00051132 11/16/2005 0.09967288 0.00000109 0.00052246 0.00052246 11/17/2005 0.09967178 0.00000109 0.00053109 0.00053109 11/18/2005 0.09967069 0.00000109 0.00053043 0.00053043 11/21/2005 0.09966742 0.00000327 0.00160245 0.00160245 11/22/2005 0.09966632 0.00000104 0.00051238 0.00051238 11/23/2005 0.09966523 0.00000109 0.00053748 0.00053748 11/25/2005 0.09966305 0.00000218 0.00107496 0.00107496 11/28/2005 0.09965977 0.00000327 0.00163276 0.00163276 11/29/2005 0.09965868 0.00000109 0.00054512 0.00054512 11/30/2005 0.09965758 0.00000109 0.00054021 0.00054021 0.00003265 0.01562133 0.01562133
per Per 12/01/2005 0.09965649 0.00000109 0.00054876 0.00054876 12/02/2005 0.09965540 0.00000109 0.00054963 0.00054963 12/05/2005 0.09965212 0.00000327 0.00166725 0.00166725 12/06/2005 0.09965103 0.00000109 0.00055717 0.00055717 12/07/2005 0.09964994 0.00000109 0.00056164 0.00056164 12/08/2005 0.09964885 0.00000109 0.00056710 0.00056710 12/09/2005 0.09964776 0.00000109 0.00057551 0.00057551 12/12/2005 0.09964448 0.00000327 0.00173113 0.00173113 12/13/2005 0.09964339 0.00000109 0.00056893 0.00056893 12/14/2005 0.09964229 0.00000109 0.00055309 0.00055309 12/15/2005 0.09964120 0.00000109 0.00055025 0.00055025 12/16/2005 0.09964011 0.00000109 0.00054971 0.00054971 12/19/2005 0.09963683 0.00000327 0.00164979 0.00164979 12/20/2005 0.09963574 0.00000109 0.00054002 0.00054002 12/21/2005 0.09963465 0.00000109 0.00053830 0.00053830 12/22/2005 0.09963356 0.00000109 0.00054889 0.00054889 12/23/2005 0.09963247 0.00000109 0.00054921 0.00054921 12/27/2005 0.09962810 0.00000436 0.00221871 0.00221871 12/28/2005 0.09962701 0.00000109 0.00056137 0.00056137 12/29/2005 0.09962592 0.00000109 0.00056301 0.00056301 Per 12/30/2005 0.09962482 0.00000109 0.00056454 0.00056454 0.00003270 0.01671401 0.01671401 Totals 0.00037474 0.16791081 0.16791081 0.00037474 0.16791081 0.16791081 Schedule A shows gold ounces acquired per is COMEX Gold Trust (IAU) share purchased. Identify the date on which the holder purchased its is COMEX Gold Trust (IAU) shares in the column labeled. The amount in the column labeled Gold Purchased per, represents the pro rata amount of gold, in ounces, that each IAU represents. Schedule B shows gold sold (in ounces), proceeds, and expenses per is COMEX Gold Trust (IAU).
Example: holder XYZ purchases 250 IAU shares on 1/31/2005 at a price of $40 per share for a total purchase price of $10,000. holder XYZ had no other purchases or sales of IAU shares during 2005. Step 1: Identify the shareholder s pro rata ownership of gold (in ounces). On Schedule A, identify holder XYZ s purchase date of 1/31/2005. In the column labeled per, identify the pro rata amount of gold (i.e. 0.099989 ounces per share) each IAU share represents on that date. For holder XYZ, total prorated amount of gold ounces owned for its 1/31/2005 purchase is 24.99725 ounces (0.099989 ounces per share multiplied by 250 shares purchased on 1/31/2005.) Note: This step should be completed for each date on which IAU shares were purchased. Step 2: Calculate the gold (in ounces) sold from holder XYZ s account during 2005 From Schedule B, the gold ounces sold per share during 2005 includes the cumulative amounts of all gold sales for the period which includes the day after the purchase date of 1/31/2005 through the day of the sale date. Per Schedule B, during 2005 the amount of gold sold after the 1/31/2005 purchase date is 0.00036437 oz per share for a total of 0.0910925 oz (based on the purchase of 250 shares). There were no other gold sales during 2005. Step 3: Calculate cost of gold sold from holder s account Total Gold ounces sold (Step 2) 0.0910925 ------------ X $10,000 = Gold ounces acquired (Step1) 24.99725 Cost of Gold sold = $ 36.44 Step 4: Calculate holder s gain or loss on sales of gold for each lot purchased On Schedule B, identify all proceeds per share received by the Trust after holder XYZ s 1/31/2005 purchase date. During 2005, there were sales on every business day for the period of 2/1/2005 through 12/30/2005 which generated proceeds per share of $ 0.16350693. Therefore, holder XYZ s gain or loss is determined as follows: Total Proceeds: $ 0.16350693 per share X 250 shares = $ 40.88 Less: Total cost of gold sold (Step 3) 36.44 Total Reportable Gain $ 4.44 (1040 Sch D, Part I)
Step 5: Calculate holder s investment expenses On Schedule B, identify all expenses per share paid by the Trust after holder XYZ s 1/31/2005 purchase date. During 2005, the expenses paid were on every business day for the period of 2/1/2005 through 12/30/2005 which amounted to $ 0.16350693. Therefore, holder XYZ s investment expenses are: Investment Expenses per $0.16350693 Total s X 250 Total Investment Expense $ 40.88 (1040 Sch A) Step 6: Calculate holder s Adjusted Gold held and Cost Basis Gold ounces Purchased on 1/31/2005 (Step 1) 24.9972500 oz Less Gold ounces sold during 2005 (Step2) -0.0910925 oz Adjusted holder s Gold ounces at 12/30/2005 24.9061575 oz Original Purchase Cost on 1/31/2005 $10,000.00 Less Cost of Gold Sold during 2005 (Step 3) 36.44 Adjusted holder s basis at 12/30/2005 $ 9,963.56 holder s adjusted cost and gold ounces calculated in Step 6 are his/her adjusted basis for the 1/31/2005 purchase at the end of 2005. holders with several purchases should calculate gain, loss and adjusted basis separately for each purchased lot and then sum up the results of each lot to arrive at the net reportable gain or loss and the total investment expenses. This information is provided by The Bank of New York, the trustee of the is COMEX Gold Trust (the "Trustee"), subject to the terms, conditions and limitations of liability set forth in the Depositary Trust Agreement between Barclays Global Investors, N.A, as Sponsor and The Bank of New York, as Trustee dated as of January 19, 2005. Neither BGI, its affiliates nor the Trustee provides tax advice. Please note that(i) any discussion of U.S. tax matters contained in this communication including any attachments) cannot be used by you for the purpose of avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein: and (iii) you should seek advice based on your particular circumstances from an independent tax advisor.