FORM OF PRICING SUPPLEMENT

PRICING SUPPLEMENT

Dated 28 May 2012

ETFS Oil Securities Limited

(Incorporated and registered in Jersey under
the Companies (Jersey) Law 1991 (as amended) with registered number 88371)

Programme for the Redemption of Oil Securities

Redemption of

50,000 Oil BRENT 1 Month Oil Securities

This Pricing Supplement (as referred to in the prospectus (the "Prospectus") dated 15^th September 2011 in relation to the above Programme) relates to the redemption of the Oil Securities referred to above. The Oil Securities have the terms provided for in the Trust Instrument dated 13 July 2005 (as amended) between the Company and The Law Debenture Trust Corporation p.l.c. as Trustee constituting the Oil Securities. Terms used in this Pricing Supplement bear the same meaning as in the Prospectus. The particulars in relation to this issue of Oil Securities are as follows:

Issuer:                                                                  ETFS Oil Securities Limited

ISIN                                                                     GB00B0CTWC01

Issue Date:                                                           29 May 2012

Class:                                                                  ETFS BRENT OIL 1mth

Oil Major Company:                                               Shell Trading Switzerland A.G

Near Entitlement:                                                  0.5848259

Next Entitlement:                                                  0.00

Near Contract Price:                                              US$105.56

Next Contract Price:                                              US$105.03

Multiplier:                                                              0.9850117

Creation Price:                                                      US$60.8089310

Aggregate Number of Oil                                        50,000

Securities to which this Pricing
Supplement applies:

Following the issue of Oil Securities to which this Pricing Supplement applies, Oil Securities will be in issue corresponding to the following outstanding Oil Contracts with the following Oil Major Companies:

Carbon                                       114,696

____________                           ________________