Market Vectors Launches Solar Energy ETF on Earth Day

[Kolesar]

KWT Offers Pure-Play Leadership in Tracking Global Solar Energy Industry

NEW YORK, Apr 22, 2008 (BUSINESS WIRE) -- New York-based asset manager Van Eck Global marked Earth Day today by launching Market Vectors - Solar Energy ETF (KWT) on the American Stock Exchange(R). This new exchange-traded fund (ETF) is among the first solar ETFs listed in the U.S., and is unique in the degree of pure-play exposure it provides to the global solar industry. KWT seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Ardour Solar Energy Index (SM) (SOLRX), the pure-play leader in tracking the solar industry. KWT's total net expense ratio is 0.65%.

SOLRX includes only those companies that generate at least 66% of their revenues from solar energy. On an index-weighted basis, the companies in SOLRX derive well over 90% of their revenues from solar energy. Currently, the four top holdings are First Solar, Q-Cells, Renewable Energy and Solarworld, with weightings of 10% each. "The Ardour Solar Energy Index (SM) was designed to serve as a true pure-play measure of the performance of the global solar energy industry," said Ardour Index Committee Advisor Walter Nasdeo. "We look forward to working with Van Eck in introducing the index to investors through Market Vectors - Solar Energy ETF."

Solar constitutes the fastest-growing source of both renewable and overall energy.* Worldwide, the solar industry's revenues are expected to grow 30-35% annually over the next three years, and its earnings are projected to hit $5.6 billion in 2010, versus an estimated $3.3 billion in 2008.**

"Solar power has become an increasingly popular source of energy around the world, with demand exploding against a backdrop of steadily declining costs and prices that reflect economies of scale and technological and manufacturing advancements. With more countries seeking to mitigate rising energy prices and the threat of global warming by implementing solar-friendly policies, the global solar industry appears poised to enter a period of remarkable growth," said Jan van Eck, Principal at Van Eck Global. "In fact, some estimates indicate that 30% of the world's energy supply could come from solar by 2040, up from less than 1% today. As the pure-play leader in solar, we believe that KWT will appeal to those investors who are looking for a convenient means to access this dynamic industry."

SOLRX is published by Ardour Global Indexes, LLC(SM) and is a member of the Ardour Family(SM) of Alternative Energy Indexes, which serve as leading alternative energy industry benchmarks. Through March 31, 2008, SOLRX returned 32.9% and 44.7% over the one- and three-year periods, respectively.+

Founded in 1955, Van Eck Global was among the first U.S. money managers helping investors achieve greater diversification through global investing. The company managed over $10.8 billion in assets for individuals, insurers and institutional investors as of March 31, 2008. KWT is the thirteenth ETF introduced under Van Eck's Market Vectors brand, which includes sector, international and municipal bond ETFs. Market Vectors ETFs had a total of over $5.1 billion in assets under management as of March 31, 2008.

*Solar Energy Industries Association

**Ardour Capital Investments, LLC

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