Yes, that is the model I have.
The silver slide button you pull back to open the gate should spring back automatically closing the space where the ball end of the key rings are inserted, keeping them from falling out.
I think that may be the problem...there is no silver slide button on mine!
I emailed Bison, apologized, as me what color I wanted and where I wanted it sent to. It's been several days, and I don't have the replacement yet, but it's nice that they were so forthcoming in offering a replacement. Maybe the next one will have all the buttons and springs it's supposed to! <img src="/images/graemlins/smile.gif" alt="" />