AMERICAN STOCK EXCHANGE AMEX - FIXED RETURN OPTIONS (FROs)

New York, May 1, 2008 – The American Stock Exchange® (Amex®) today announced the launch of Fixed Return OptionsSM (FROsSM), which will begin trading on May 8. FROs are “binary” options on popular equities and exchange traded funds (ETFs), including QQQQs, SPDRs and Google, that will pay a fixed, cash amount of $100.00 upon settlement “in-the-money.”

Fixed Return Options are offered in two forms: “Finish High” – each long contract returns $100.00 if the underlying security settlement value is above the strike price at expiration and “Finish Low” – each long contract returns $100.00 if the underlying security settlement value is below the strike price at expiration.

FROs will settle at expiration based on the Amex FRO Settlement IndexSM that will be published every 15 seconds over Tape B. Amex FRO Settlement IndexSM is a weighted average of trading in the underlying on expiration day.

“The American Stock Exchange has long been recognized as a leader in innovation and new product development and the launch of Amex’s Fixed Return Options is another example of the time and effort that we put into bringing new products to the marketplace,” said Michael T. Bickford, Senior Vice President of Options.

For a complete list of company names and symbols as well as product information on FROs, please visit http://www.amex.com/options/prodInf/OptPiFROs.jsp

About American Stock Exchange The American Stock Exchange® (Amex®) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 391 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.