Error during compile

I get this error when debugging this code:

Too few type arguments to 'System Collections Generic List(OfT)'

Code:

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Private Sub PictureBox1_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles PictureBox1.Click
        Dim list As New List(Of String), index As Integer
        list.AddRange(IO.Directory.GetFiles("C:\Documents and Settings\Administrator\My Documents\Visual Studio 2008\Projects\images", "*.jpg"))
        Me.PictureBox1.ImageLocation = list(index)

    End Sub

    Private Sub Button1_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles Button1.Click
        Dim index As Integer
        index += 1
        If index = List.Count Then index = 0
        Me.PictureBox1.ImageLocation = List(index)

    End Sub

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The error refers to List.Count and List(index)

Thanks