American Stock Exchange To Launch Options On New Performance-Based ETFs - Amex To Trade Options On New Powershares Funds

The American Stock Exchange (Amex) yesterday announced it will launch trading in options on the PowerShares Dynamic Market Portfolio (Stock Symbol: XTF.M/ Option Symbol: TFB) and the Dynamic OTC Portfolio (Stock Symbol: XTF.Q/ Option Symbol: TFG). The funds and options will begin trading on Thursday, May 1, 2003.

PowerShares Dynamic Market Portfolio options will open with strike prices in one point intervals from 103 to 113 and position limits of 13,500 contracts. The options will trade on the March expiration cycle, with initial expirations in May, June, September and December. The specialist will be AGS/STR/OTA. The PowerShares Dynamic Market Portfolio seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses,) of an equity index called the Dynamic Market Intellidex Index.

PowerShares Dynamic OTC Portfolio options will open with strike prices in one point intervals from 108 to 118 and position limits of 13,500 contracts. The options will trade on the March expiration cycle, with initial expirations in May, June, September and December. The specialist will be Tanstaafl Research & Trading. The PowerShares Dynamic OTC Portfolio seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses,) of an equity index called the Dynamic OTC Intellidex Index.