Van Eck Global on Thursday took the wraps off the first U.S.-based ETF that focuses on Egypt. The Market Vectors Egypt Index ETF carries an expense ratio of 94 basis points.

This is the 24th ETF Van Eck offers under the Market Vectors brand.

Company Press Release

NEW YORK--(BUSINESS WIRE)--New York-based asset manager Van Eck Global today announced the launch of Market Vectors Egypt Index ETF (EGPT) on NYSE Arca�, the first U.S.-based exchange-traded fund to provide focused exposure to Egypt�s economy.

Egypt�s real economic growth has averaged 4.9 percent annually since the start of the last decade and 6.3 percent for the three years ending December 31, 2009. Egypt�s move to a more open, market-oriented economy has, in turn, led to expanding foreign investment, net exports, industrial development, and business formation. The most populous Arab country and the third most populous country in Africa, Egypt is home to an increasingly diversified economy.

�The Market Vectors Egypt Index ETF addresses a growing interest in using individual country funds to calibrate international equity allocations, particularly on the part of investors dissatisfied with existing indices,� said Jan van Eck, Principal at Van Eck Global. �These funds serve as targeted tools for overweighting or underweighting specific geographies and economies. As with our other recent ETF introductions, EGPT is designed to provide convenient access to a compelling market that is otherwise not available to the average U.S. investor.�

EGPT seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Egypt Index (MVEGPTTR). The Index provides a means to track the overall performance of companies that are domiciled and primarily listed in Egypt, or that generate a majority of their revenues in the country. As of January 31, 2010, the Egypt Index included 28 securities; the top three index holdings were Commercial International Bank, Orascom Construction Industries and Orascom Telecom Holding SAE (8.5%, 8.4%, 7.9% of the Index, respectively). Sectors with a greater than 10 percent weighting as of January 31 included Financials, Telecommunication Services, Industrials, and Materials.

The Index is calculated using a market-capitalization weighting methodology, and is float-adjusted and modified so that the weight of any single component does not account for more than 8.0 percent of the total capitalization at a rebalancing date. It is denominated in U.S. dollars and reviewed quarterly.

EGPT is the 24th ETF offered under Van Eck�s Market Vectors brand and joins the firm�s growing international equity lineup, which includes Market Vectors ETFs focused on Africa (AFK), Brazil Small-Cap (BRF), the Gulf States (MES), Indonesia (IDX), Poland (PLND), Russia (RSX) and Vietnam (VNM). Van Eck also offers hard assets, specialty and fixed income ETFs and, as of the end of 2009, was the sixth largest ETF provider in the U.S. with over $12.0 billion in ETF assets under management. Potential investors can get information on Market Vectors Egypt Index ETF by visiting vaneck.com/egpt.

More About the Market Vectors Egypt Index The Market Vectors Egypt Index is a rules-based, modified capitalization-weighted, float- adjusted index comprised of publicly traded companies that are domiciled and primarily listed on an exchange in Egypt or that generate at least 50% of their revenues in Egypt. In exceptional cases, companies with less than 50% of their revenues derived from Egypt may be eligible for inclusion in the Egypt Index. Constituent stocks for the Index must have a market capitalization of greater than $150 million on a rebalancing date to be eligible for the Index. Stocks whose market capitalization falls below $75 million as of any rebalancing date will no longer be eligible for the Index. Stocks must have a three-month average daily trading volume of at least $1 million to be eligible for the Egypt Index and issuers of such stocks must have traded at least 250,000 shares each month over the last six months. More About Van Eck Global

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

Market Vectors exchange-traded products have been offered by Van Eck Global since 2006 when the firm launched the nation�s first gold mining ETF. It also offers mutual funds, insurance trust funds, separate accounts and alternative investments. Designed for investors seeking innovative choices for portfolio diversification, Van Eck Global's investment products are often categorized in asset classes having returns with lower correlations than to those of more traditional U.S. equity and fixed income investments.

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