American Stock Exchange to Trade Options on Eight PowerShares

NEW YORK, Oct. 25  /PRNewswire-FirstCall/ -- The American Stock Exchange(R) (Amex(R)) will launch trading in options on Wednesday, October 26, 2005 on the underlying shares of:

  PowerShares Dynamic Energy Exploration & Production Portfolio Symbol: PXE
  PowerShares Dynamic Oil Services Portfolio                    Symbol: PXJ
  PowerShares Dynamic Retail Portfolio                          Symbol: PMR
  PowerShares Lux Nanotech Portfolio                            Symbol: PXN
  PowerShares Dynamic Building & Construction Portfolio         Symbol: PKB
  PowerShares Dynamic Insurance Portfolio                       Symbol: PIC
  PowerShares Dynamic Utilities Portfolio                       Symbol: PUI
  PowerShares Aerospace & Defense Portfolio                     Symbol: PPA



The PowerShares Dynamic Energy Exploration & Production Portfolio (PXE) will open with strike prices of 10-20 with one point increments and position limits of 2,500,000 shares.  The options will trade on the March expiration cycle with initial expirations in November, December, March and June.  The specialist will be LaBranche Structured Products, LLC.  The PowerShares Dynamic Energy Exploration and Production Portfolio seeks investment results that correspond generally to the price and yield performance, before fees and expenses of the Dynamic Energy Exploration & Production Intellidex Index.  The Dynamic Energy Exploration & Production Intellidex Index is comprised of stocks of 30 U.S. companies involved in the exploration and production of natural resources used to produce energy.  These are companies that are principally engaged in exploration, extraction, and production of crude oil and natural gas from land-based or offshore wells.  Petroleum refineries which process the crude oil into finished products, such as gasoline and automotive lubricants, may also be included as well as companies involved in gathering and processing of natural gas, and manufacturing natural gas liquid.

The PowerShares Dynamic Oil Services Portfolio (PXJ) will open with strike prices of 10-20 with one point increments and position limits of 2,500,000 shares.  The options will trade on the March expiration cycle with initial expirations in November, December, March and June.  The specialist will be LaBranche Structured Products, LLC.  The PowerShares Dynamic Oil Services Portfolio (Symbol: PXJ) seeks investment results that correspond generally to the price and yield performance, before fees and expenses of the Dynamic Oil Services Intellidex Index.  The Dynamic Oil Services Intellidex Index is comprised of stocks of 30 U.S. companies that provide support activities for oil and gas operations.  The index may include companies that are engaged in the drilling of oil and gas wells; manufacturing oil and gas field machinery and equipment; or providing services to the oil and gas industry such as well analysis, platform and pipeline engineering and construction, logistics and transportation services, oil and gas well emergency management, and geophysical data acquisition and processing.

The PowerShares Dynamic Retail Portfolio (PMR) will open with strike prices of 10-20 with one point increments and position limits of 2,500,000 shares.  The options will trade on the March expiration cycle with initial expirations in November, December, March and June.  The specialist will be LaBranche Structured Products, LLC.  The PowerShares Dynamic Retail Portfolio Dynamic Retail Intellidex Index seeks investment results that correspond generally to the price and yield performance, before fees and expenses of the Dynamic Retail Intellidex Index.  The Dynamic Retail Intellidex Index is comprised of stocks of 30 U.S. retailers.  These are companies that are principally engaged in operating general merchandise stores such as department stores, discount stores, warehouse clubs and superstores; specialty stores including apparel, electronics, accessories, and footwear stores; and home improvement and home furnishings stores.  Dealers of motor vehicles and parts, auction houses, or rental companies may also be included.

The PowerShares Lux Nanotech Portfolio (PXN) will open with strike prices of 10-20 with one point increments and position limits of 2,500,000 shares. The options will trade on the March expiration cycle with initial expirations in November, December, March and June.  The specialist will be LaBranche Structured Products, LLC.  The PowerShares Lux Nanotech Portfolio seeks investment results that correspond generally to the price and yield performance, before fees and expenses of the Lux Nanotech Index.  The Lux Nanotech Index is a modified equal dollar weighted index comprised of publicly traded companies that seeks to measure the performance of securities that are involved with developing nanotechnology applications, manufacturing goods that incorporate those applications, and/or supplying tools and instrumentation to nanotechnology researchers.

The PowerShares Dynamic Building & Construction Portfolio (PKB) will open with strike prices of 10-20 with one point increments and position limits of 2,500,000 shares.  The options will trade on the March expiration cycle with initial expirations in November, December, March and June.  The specialist will be Goldman Sachs Execution & Clearing LP.  The PowerShares Dynamic Building & Construction Portfolio seeks investment results that correspond generally to the price and yield performance, before fees and expenses of The Dynamic Building & Construction Intellidex Index.  The Dynamic Building & Construction Intellidex Index is comprised of stocks of 30 U.S. building and construction companies.  These companies are principally engaged in providing construction and related engineering services for building and remodeling residential properties, commercial or industrial buildings; or working on large-scale infrastructure projects such as highways, tunnels, bridges, dams, power lines, and airports.  These companies may also include manufacturers of building materials for home improvement and general construction projects and specialized machinery used for building and construction; companies which provide installation/maintenance/repair work; and land developers.

The PowerShares Dynamic Insurance Portfolio (PIC) will open with strike prices of 10-20 with one point increments and position limits of 2,500,000 shares.  The options will trade on the March expiration cycle with initial expirations in November, December, March and June.  The specialist will be Goldman Sachs Execution & Clearing LP.  The PowerShares Dynamic Insurance Portfolio seeks investment results that correspond generally to the price and yield performance, before fees and expenses of the Dynamic Insurance Intellidex Index.  The Dynamic Insurance Intellidex Index is comprised of stocks of 30 U.S. insurance companies.  These are companies that are principally engaged in underwriting or distributing and reselling life, health, and property/casualty insurance policies.  The index may include companies that provide coverage for various types of property and casualty risks; guarantee payment to a beneficiary when an insured person ceases to generate income, typically at death or retirement; or protect against financial loss resulting from medical bills and/or the financial consequences of poor health.  Insurance brokerage and reinsurance companies may also be included.

The PowerShares Dynamic Utilities Portfolio (PUI) will open with strike prices of 10-20 with one point increments and position limits of 2,500,000 shares.  The options will trade on the March expiration cycle with initial expirations in November, December, March and June.  The specialist will be Goldman Sachs Execution & Clearing LP.  The PowerShares Dynamic Utilities Portfolio Dynamic Utilities Intellidex Index seeks investment results that correspond generally to the price and yield performance, before fees and expenses of the Dynamic Utilities Intellidex Index.  The Dynamic Utilities Intellidex Index is comprised of stocks of 30 U.S. utilities.  These companies are principally engaged in providing energy, water, or natural gas utilities. These companies may include companies that generate and supply electricity, including electricity wholesalers; distribute natural gas to customers; provide water to customers, as well as dealing with associated wastewater.

The PowerShares Aerospace & Defense Portfolio  (PPA) will open with strike prices of 10-20 with one point increments and position limits of 2,500,000 shares.  The options will trade on the March expiration cycle with initial expirations in November, December, March and June.  The specialist will be Goldman Sachs Execution & Clearing LP.  The PowerShares Aerospace & Defense Portfolio seeks investment results that correspond generally to the price and yield performance, before fees and expenses of The SPADE Defense Index.  The SPADE Defense Index is a modified market capitalization weighted index comprised of publicly traded companies that seeks to measure the performance of securities in the defense, homeland security, and space marketplace.  The Index is rebalanced quarterly each March, June, September and December.  The Index divisor was initially determined to yield a benchmark value of 1000.00 at the close of trading on December 30, 2002.  The SPADE Index was created by, and is a trademark of, International Space Business Council ("ISBC').

For more information on any Amex-listed company, please visit http://www.amex.com/.

The American Stock Exchange(R) (Amex(R)) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM).  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 169 ETFs.  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.  For more information, please visit http://www.amex.com/. 

DATASOURCE: The American Stock Exchange



CONTACT:  Mary Chung of American Stock Exchange, [phone],





Web site:  http://www.amex.com/ 

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