Palladium over-supplies (supply exceeding demand) have been shrinking for more than four years. In 2005, there was an over-supply of 1.1M ounces of palladium which is forecasted to be 56,000 ounces of additional supply vs. demand in 2008.

Palladium demand rose 7% to to 8 million ozs in 2007 and is expected to rise 5.2% in 2008

Please visit www.cpmgroup.com or www.matthey.com for additional information on Platinum Group Metals.

Palladium and Platinum Demand is strong and growing;

• Strong demand from global auto industry-emission regulations are being phased in worldwide
• Electronics growth: semiconductor use in PC’s, cell phones, LCD TV’s, digital equipment
• Steady and growing application in dental, medical
• “Green” technology: fuel cells, water and air treatment
• Burgeoning pure Pd jewelery, increased investment attractiveness