Subject: File No. SR-Amex-2005-072
From: Faisal Harianawalla
Affiliation: Master Science Taxation

February 12, 2006

I would like to say that the introduction of a Silver ETF is long overdue. In a free market society large corporations/industry focused groups/and specialty groups should not obstruct free market activity as that proposed by SUA (Silver Users Association). I believe that market forces will ultimately guide the true Fair Market Value of Silver (or by the matter of fact any commodity/product). In essence I do not support any market regulation/red tape/barrier that creates burdens the true value of industry pricing.

Yours Truly