  We report the discovery of a new quasi-period oscillation (QPO) at 0.22 Hz,
centered on the source spin frequency of the high mass X-ray binary system
V~0332+53 when the source was observed during its November 2004/March 2005
outburst by {\em RXTE}. Besides this new QPO, we also detected the known 0.05
Hz QPO. Both the 0.22 and 0.05 Hz QPOs stand out clearly at a mid-flux level of
the outburst within January 15--19 2005, and later at an even lower flux level
as the width of 0.22 Hz QPO drops. No evolution of the centroid frequency with
the flux is seen in either QPO. The rms value below 10 keV is around 4--6% for
both QPOs and decreases at higher energies. We discuss our results in the
context of current QPO models.
