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Press Release:
Merk Hard Currency Fund Inks Deal with Euro Pacific Capital

-- Agreement enables Euro Pacific clients to seek protection against a declining dollar through no-load mutual fund --

DARIEN, Conn. and PALO ALTO, Calif. — December 15, 2005Euro Pacific Capital today announced that it has entered into an agreement with Merk Investments to make the no-load Merk Hard Currency Fund™ available through Euro Pacific Capital.  The Merk Hard Currency Fund seeks to protect investors against declines in the US dollar by investing in a basket of hard currency denominated investments composed of high-quality, short-term money market instruments of countries pursuing sound monetary policy, and indirectly in gold. Euro Pacific is a full service, NASD-registered broker-dealer that is recognized for its expertise in foreign markets and securities.

“We believe the U.S. dollar is in a major long-term bear market, and as such recommend keeping exposure to the dollar at an absolute minimum. All long-term savings and investments should be denominated in select foreign currencies against which we believe the dollar is likely to fare the worst,” said Euro Pacific Capital president Peter Schiff. “We believe that the Merk Hard Currency Fund’s investment strategy makes it a valuable diversification component for our clients, enabling them to seek protection for their assets against a decline in the dollar with the ease of investing in a no-load mutual fund.”

“Euro Pacific’s viewpoint on world markets and the US dollar’s long term trend is consistent with our own," said Axel Merk, manager of the Merk Hard Currency Fund. “Peter Schiff is well versed in the field of international investing and has helped investors who seek to position their portfolios to be insulated from a weakening US economy. This partnership is a perfect fit for Euro Pacific clients and both our organizations as well.”

For more information, or to obtain a prospectus, contact a Euro Pacific Capital representative at 800-727-7922.

About the Merk Hard Currency Fund and Merk Investments
The Merk Hard Currency Fund, a pure play on hard currencies, provides investors with a new fundamental investment option to gain exposure to hard currencies such as the euro, Swiss franc, Australian dollar and indirectly in gold. To gain access to a basket of hard currencies without the Fund, investors must either determine which currencies they wish to invest in and gain exposure through buying those currencies directly; invest in funds that may include more speculative currencies in their portfolios; invest in international stock or bond funds that introduce stock market, credit and/or interest risks; or engage in complex and speculative derivative trading.

The Merk Hard Currency Fund is managed by Merk Investments, a money management firm that invests with discipline and long-term focus while adapting to changing environments.

Axel Merk, president of Merk Investments, makes all investment decisions for the Merk Hard Currency Fund. Mr. Merk founded Merk Investments AG in Switzerland in 1994; in 2001, he relocated to the US and transferred all investment advisory activities to Merk Investments LLC, an SEC-registered investment adviser.

Mr. Merk holds a BA in Economics (magna cum laude) and MSc in Computer Science from Brown University, Rhode Island. The institution awarded him the Class of 1873 Prize for Excellence in Economics in 1991. He has extensive experience and expertise in how global financial imbalances, as evidenced by an enormous trade deficit, affect the markets. He has published many articles describing complex economic phenomena in understandable terms and speaks on the topics of investment and global financial markets at conferences.

For more information on the Merk Hard Currency Fund, please visit For more information on Merk Investments, please visit

For more information on Euro Pacific Capital, please visit

As with any mutual fund product, there is no guarantee that the Fund will achieve its goals. Investors should consider the investment objectives, risks and charges and expenses of the Fund carefully before investing. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund's website at or calling 866-MERK FUND. Please read the prospectus carefully before you invest.

The Fund’s investment value will fluctuate, and shares, when redeemed may be worth more or less than original cost.  The Fund is not a substitute for a money market fund.  Principal investment risks include, but are not limited to, currency exchange rate risk, foreign instrument risk, gold related and derivative securities risk, interest rate risk, and non-diversification risk. For a more complete discussion of these risks please refer to the Fund’s prospectus. Foreside Fund Services, LLC, distributor.