Media Contact: Bari Trontz
American Stock Exchange
212-306-8964 / bari.trontz@amex.com

New York, April 10, 2007 — The American Stock Exchange® (Amex®) today announced that it has launched trading in four new ETFs by The Vanguard Group, Inc. (Vanguard).  Each of the new ETFs tracks the performance of a Lehman Brothers bond index. With the addition of these new and much anticipated funds, Vanguard now offers investors 32 ETFs, all of which are listed on the Amex.

“Amex and Vanguard share a longtime collaborative commitment to introducing important investment vehicles for investors,” said Scott Ebner, Senior Vice President of the Amex ETF Marketplace. “We welcome the opportunity to list these four extraordinary products which combine the benefit of bond investing with the ease of exchange trading.”

The new Vanguard ETFs are:

Vanguard Total Bond Market ETF (Ticker: BND): BND tracks the performance of the Lehman Brothers Aggregate Bond Index, a broad, market-weighted bond index. The index measures a wide spectrum of public, investment-grade, taxable, fixed income securities in the United States—including government, corporate, and international dollar-denominated bonds, as well as mortgage-backed and asset-backed securities—all with maturities of more than 1 year.
 
Vanguard Intermediate-Term Bond ETF (Ticker: BIV): BIV tracks the performance of the Lehman Brothers 5–10 Year Government/Credit Index, a market-weighted bond index with an intermediate-term dollar-weighted average maturity. The index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities between 5 and 10 years and are publicly issued.

Vanguard Long-Term Bond ETF (Ticker: BLV): BLV tracks the performance of the Lehman Brothers Long Government/Credit Index, a market-weighted bond index with a long-term dollar-weighted average maturity. The index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities of greater than 10 years and are publicly issued.

Vanguard Short-Term Bond ETF (Ticker: BSV): BSV tracks the performance of the Lehman Brothers 1–5 Year Government/Credit Index, a market-weighted bond index with a
short-term dollar-weighted average maturity. The index includes all medium and larger issues of U.S. government, investment-grade corporate, and investment-grade international dollar-denominated bonds that have maturities between 1 and 5 years and are publicly issued.

Goldman Sachs Execution and Clearing, LP is the specialist for BND, BIV and BLV and LaBranche Structured Products, LLC is the specialist for BSV. Susquehanna Investment Group will trade options on all of the ETFs.