American Stock Exchange to Trade Options on Five Securities

NEW YORK, Oct. 17  /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) will launch trading in options on Tuesday, October 18, 2005 on the following Nasdaq Stock Market and New York Stock Exchange listed stocks of:

  * Cypress Bioscience, Inc. (Option Symbol: QGY/Stock Symbol: CYPB)
  * Holly Corporation (Symbol: HOC)
  * Panacos Pharmaceuticals Inc. (Option Symbol: PBQ/Stock Symbol: PANC)
  * StemCells, Inc. (Option Symbol: QTB/Stock Symbol: STEM)
  * Titanium Metals Corporation (Symbol: TIE)



Cypress Bioscience, Inc. options will open with position limits of 7,500,000 shares.  The options will trade on the March expiration cycle.  The Specialist will be Kellogg Capital Group, LLC.  Cypress Bioscience, Inc. provides products that improve the diagnosis and treatment of Functional Somatic Syndromes and other related pain and central nervous system conditions.

Holly Corporation options will open with position limits of 5,000,000 shares.  The options will trade on the March expiration cycle.  The Specialist will be Susquehanna Investment Group.  Holly Corporation, through its affiliates, refines, transports, stores and markets petroleum products.  The Company's refineries produce light products such as gasoline, diesel fuel and jet fuel, which are marketed in the southwestern United States, northern Mexico and Montana.

Panacos Pharmaceuticals Inc. options will open with position limits of 25,000,000 shares.  The options will trade on the January expiration cycle. The Specialist will be Jane Street Specialists, LLC.  Panacos Pharmaceuticals Inc. discovers, develops and commercializes small molecule drugs to treat or prevent serious infectious disease.  The Company is currently focused on a new class of drugs to treat HIV infection.

StemCells, Inc. options will open with position limits of 25,000, 000 shares.  The options will trade on the March expiration cycle.  The Specialist will be Jane Street Specialists, LLC.  StemCells, Inc. is a biotechnology company.  The Company discovers, develops and commercializes stem cell-based therapies to treat diseases of the central nervous system, liver and the pancreas.  StemCells seeks to repair or repopulate neural or other tissue that has been damaged or lost as a result of disease or injury.

Titanium Metals Corporation options will open with position limits of 7,500,000 shares.  The options will trade on the March expiration cycle.  The Specialist will be Group One Trading, LP.  Titanium Metals Corporation supplies titanium metal products.  The titanium products are used in aerospace, industrial and emerging applications.  The Company converts rutile ore into sponge, melts and refines ingot and slab, and manufactures mill products and castings.

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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