Subject: File No. SR-Amex-2005-072
From: Terence E Robertson

January 29, 2006

A silver ETF will make it more practical for the average investor, such as myself, to invest in silver, without the overhead and worry of storing the metal. I think its a grand idea. You have a Gold ETF. Its time to have a silver ETF, for the average investor. I can't wait to participate.