A 5367 - December 18, 2001

A 5367
P&S 4937
December 18, 2001
TO: ALL PARTICIPANTS
ATTENTION: MANAGING PARTNER / OFFICER, OPERATIONS PARTNER / OFFICER, MANAGER P & S DEPARTMENT, MANAGER DATA PROCESSING DEPARTMENT
SUBJECT: NSCC WILL INCLUDE VANGUARD EXTENDED MARKET VIPERä THROUGH ITS INDEX SECURITY PROCESSING SYSTEM

The National Securities Clearing Corporation ("NSCC") will include in its index security processing system, Vanguard Extended Market VIPERä shares a series of the latest index share products to be traded on the American Stock Exchange. VIPERä s are Amex-traded securities which represent ownership in open-ended investment companies registered under the 1940 Act established to accumulate and hold portfolios of common stocks intended to track the price performance and dividend yield of various well-known indices.

Index Share Name	Trading Symbol	CUSIP	Unit Size
VIPER Vanguard Extended Market Index Fund	VXF	922908652	100,000

The existing well-established creation and redemption procedures, reporting structures, files, and reports that was used for the previous domestic VIPERä products will be used for the new VIPERä as well.

NOTE: In preparation for creation and redemption activity, NSCC is scheduled to add the new VIPERä portfolio to its Domestic Portfolio Composition File (PCF) on or about Wednesday, December 19,2001. This file also contains all other domestic index security portfolios.

Useful Information:

VIPERä general information, to place creation/redemption orders, or to become a VIPERä Authorized Participant: 1-610-669-6386 or 1-610-669-1584

General index information can be found at URL: www.amex.com or call: 1-800-THEAMEX

If you have additional questions, please contact Participant Services at 212-855-4155, email the undersigned at estaloff@dtcc.com or email Vincent McDevitt at vmcdevitt@dtcc.com.

Elena Staloff
Director, Product Marketing and Development