Jan. 8, 2007 — The Amex Steel Index (STEEL) rose 0.77% in December and gained 40.70% for the year ending December 31, 2006.*

STEEL, a modified market capitalization-weighted index, is comprised of the common stocks (ADRs) of publicly traded companies involved primarily in activities related to steel production. As of December 31, 2006, STEEL included 38 securities. STEEL, which is rebalanced quarterly, will next be rebalanced on March 16, 2006.

The Market Vectors—Steel ETF is an exchange-traded fund that seeks to replicate, as closely as possible (and before fees and expenses), the price and yield performance of STEEL. The fund generally holds all of the securities that comprise STEEL in proportion to their weighting in STEEL. Options on the fund are listed on the Amex.

*Van Eck Securities notes that past performance does not guarantee future results.

Exchange-Traded Funds (ETFs) are passively managed baskets of securities that trade in a manner similar to stocks. They have grown in popularity as investment tools because of their relatively low expense ratios and the tax efficiency they offer compared to most mutual funds. Investors can buy and sell ETFs intra-day and they can hold them both long and short, offering the opportunity to prosper from both bear and bull markets.

The American Stock Exchange^® (Amex^®) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. The Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993, and currently lists 222 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.

Founded in 1955, Van Eck Associates Corp. was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today the firm continues the 50+ year tradition by offering global investment choices in hard assets, emerging markets, precious metals including gold, and other specialized asset classes.

Sold nationwide, Van Eck Associates mutual funds are designed for investors seeking innovative choices for portfolio diversification. They are often categorized in asset classes having returns with low correlations to those of more traditional U.S. equity and fixed income investments. Van Eck Associates also offers exchange-traded funds, separate accounts and alternative investments.

STEEL is a modified market capitalization-weighted index comprised of common stocks (ADRs) of selected companies that are primarily involved in a variety of activities that are related to steel production, including the operation of mills manufacturing steel, the fabrication of steel shapes or products, or the extraction and reduction of iron ore. As of December 31, 2006, STEEL included 38 securities.

STEEL is calculated using a modified market capitalization weighting methodology. Only companies with a market capitalization greater than $100 million that have had an average daily trading volume of at least $1 million over the past three months are eligible for inclusion in STEEL. The weight of any single component stock may not account for more than 20% of the total value of STEEL, and the aggregate weight of those component stocks which individually represent more than 4.5% of the total value of STEEL may not account for more than 50% of STEEL’s total value.

All performance information presented for STEEL covering the period prior to October 7, 2004 is based on hypothetical, back-tested data. Prior to October 7, 2004, STEEL was not calculated in real time by an independent calculation agent. STEEL, a trademark of the Amex, is licensed for use by Van Eck Associates Corp. in connection with The Market Vectors—Steel ETF.