A mailing list is a list of email addresses.  Mailing lists are used to distribute news, information, updates, etc to members on your list.  

1. Make sure you are in Edit Mode. 
2. This will bring up the Page Controls that will allow you directly add text and images to your page.  
3. You will see this display:

1. Click on Other and you will see the image window displayed. 
2. Select Mailing List. 
3. Select Create New.  
4. Fill out appropriate information.   
5. Header and Footer information is optional. 
6. Enter email address that will serve as “Reply Address” for this mailing list and press TAB and then ENTER, or click on Update My List Options, “Add Subscriber” pane opens. 
7. Add Subscribers, and for more fields click on Add a Subscriber. 
8. Click on Save and Update at top of window when finished.

Here's one type of Email List, which would collect email addresses to be used for a monthly newsletter.