New York, May 10, 2007 — The American Stock Exchange® (Amex®) will launch trading in options on Friday, May 11, 2007 on the following Amex-listed exchange traded fund:

• Vanguard Emerging Markets ETF (Symbol: VWO)

Vanguard Emerging Markets ETF options will open with strike prices of 75-95 (1 point increments)
options will open with position limits of 5,000,000 shares.  The options will trade on the March expiration cycle. The specialist will be Bluefin Specialists, LLC.  The Fund seeks to track the performance of a benchmark index that measures the investment return of stocks issued by companies located in emerging market countries. The Fund employs a “passive management”-or indexing – investment approach by investing substantially all (normally about 95%) of its assets in the common stocks included in the MSCI Emerging Markets Index, while employing a form of sampling to reduce risk. The MSCI Emerging Markets Index includes approximately 840 common stocks of companies located in emerging markets around the world.