E*TRADE Group (ETFC)

[travllr]

E*Trade to Acquire Institutional Broker (France)
(Market News) E*Trade, which will gain 42 new institutional customers from the deal, said that the acquisition would contribute positively to its profit figures.


http://www.investing-news.com/artman/publish/article_431.shtml


-trav

[travllr]

Scottrade Inc. has been fined $250,000 by securities regulators who said the discount brokerage improperly extended credit to customers in more than 27,500 transactions in 2001. 1/23/2005 23:38 (Market News)

Regulators Fine Scottrade for Violations
http://www.investing-news.com/artman/publish/article_342.shtml


-trav

[travllr]

E*Trade will tie up with Hong Kong-based investment bank SW Kingsway to offer the trades in early March. E*Trade customers will be able to trade over the Internet about 150 issues listed on the Hong Kong Stock Exchange between 10:30 a.m. and 5:00 p.m. Tokyo time.

Japanese Brokerages Offerering Chinese Stock Trading


http://www.investing-news.com/artman/publish/article_328.shtml


-trav

[travllr]

A Model of Self-Control ... Computer Model, That Is

(Education) * From an Oct. 2004 story: This mutual fund is using algorithmic stock trading software as it strive to build a better index than the S&P 500 itself. Maybe this is why E-Trade has recently gone on a hiring spree for Ph.D's skilled in mathematical analysis.
Jan 9, 2005, 09:56

http://www.investing-news.com/artman/publish/article_265.shtml


Not sure where that specific article on E-Trade went to, but this is revealing as to their current area of interest.

-travllr

[Burpzilla]

Yes.

Get lost.

[Ben_Haad]

Is this a dead board?

Ben

[Joemoney]

Interesting: Former E*Trade Employees Form Financial Services Company

ARLINGTON, Va. -(Dow Jones)- Three former E*Trade Group Inc. employees formed a financial services company, Emerge Financial Corp., that will focus on asset management and banking.

In a press release Thursday, the new firm said it will be based in the Washington -area and will be developed in phases.

The first phase calls for the immediate development of a consumer lending conduit to generate a variety of residential mortgage loans and other consumer assets.

In the second phase, Emerge Financial plans to acquire an underutilized bank or thrift with growth potential.

The three former E*Trade employees serving as principals in the new venture are Steven Dervenis, former chief executive of E*Trade Global Asset Management; Douglas Bream, former director of E*Trade Global Asset Management; and Kenneth Campbell, former director of E*Trade Global Asset Management and vice president of E*Trade Mortgage.

http://biz.yahoo.com/djus/020530/200205301236000588_1.html

[Joemoney]

E-Trade launches German e-broker, eyes takeovers

FRANKFURT, Nov 8 (Reuters) - U.S. online heavyweight E-Trade Group Inc. (NYSE:ET - news) said on Thursday it launched a German Internet broking unit despite weak market conditions and would examine takeover opportunities in its drive to join Europe's top ranks.

E-Trade said it aimed to become one of Germany's biggest e-brokers in two to three years by luring high-value investors with an attractive pricing plan. It also did not rule out buying market share under the right conditions.

``We have bought other firms worldwide in the past,'' E-Trade's chief executive for Germany, Torsten Zibell, told Reuters in comments embargoed for early Thursday. ``We will examine whatever opportunities present themselves.''

Zibell said E-Trade (www.etrade.de) was not currently talking to existing German brokers about a tie-up. ``Today, there are no concrete plans,'' he said.

Leading U.S. online brokerage firms, including Charles Schwab (NYSE:SCH - news), have long been expected to enter the German market, either organically or through an acquisition, and use Europe's largest economy as a springboard for further expansion.

Germany is the leader in the European online broking market, with comdirect bank AG ranking first in market value, followed by DAB bank AG and Consors AG (quote from Yahoo! UK & Ireland: CSOG.F).

Zibell said France and Italy also were interesting markets for E-Trade, which already has operations in Britain, Sweden, Norway and Denmark.

Its decision to enter Germany's saturated market just when the economy is slowing may surprise rival German online brokers, who could feel increasingly under pressure to seek partnerships as revenues drop.

``The timing has been well-chosen. Markets have seen the floor and the readiness to invest is rising,'' Zibell said.

He said E-Trade, which has nearly four million customers and operations in 12 countries, would win clients on the strength of its technical platform and attractive price packages. The German unit aims to break even in two years.

It will kick off with direct brokerage services to wholesale and retail customers, with plans to offer other services such as credit cards later.

Zibell declined to reveal information on marketing or start-up budgets and costs. Nor would he say what profit or how many customers the company aimed to get.

http://biz.yahoo.com/rf/011107/l07420579_2.html

[Joemoney]

RESEARCH ALERT-Robertson Stephens lifts E-Trade

NEW YORK, Nov 7 (Reuters) - Robertson Stephens said on Wednesday it has raised its investment rating to ``strong buy'' from ''buy'' for online brokerage firm E-Trade Group Inc. (NYSE:ET - news) with a 12-month price target of $10. It also raised its 2002 earnings estimate to 35 cents from 30 cents.

Robertson cited higher retail trading volumes, higher volumes at E-Trade's recently acquired market making firm Dempsey, and the company's booming mortgage origination business as reasons for the upgrade.

E-Trade shares rose 5.14 percent, or 37 cents, to $7.57 on the New York Stock Exchange Wednesday morning. Their 52-week trading range is $4.09 to $13.20.

http://biz.yahoo.com/rf/011107/nb7177811_3.html

[Joemoney]

E*TRADE upgraded by Robertson Stephens

http://biz.yahoo.com/c/20011107/u.html?et

[Joemoney]

S&P sees downgrades for some US securities firms

NEW YORK, Nov 6 (Reuters) - Some U.S. banks and brokerages could see their ratings cut as the slumping economy hits profits and asset quality, but the outlook for the sector as a whole is stable, Standard & Poor's analysts said on Tuesday.

``We expect profits to be mediocre but not negative in any dramatic fashion, and we expect some ratings downgrades,'' analyst Robert Swanton said in a conference call. ``We certainly don't expect a sector decline.''

S&P has negative outlooks on Merrill Lynch & Co. (NYSE:MER - news), Morgan Stanley (NYSE:MWD - news), Goldman Sachs Group Inc. (NYSE:GS - news), Bear Stearns Cos. (NYSE:BSC - news) and Charles Schwab Corp. (NYSE:SCH - news), while E*Trade Group Inc.'s (NYSE:ET - news) ratings were cut earlier this year.

``Precious few business lines have been spared the decline in volumes and demand that the economy has caused,'' Swanton said. Apart from bond underwriting, which has been boosted by falling interest rates, ``most business lines remain stagnant,'' he said.

As a result, more layoffs and restructurings are likely, said S&P analyst Charles Rauch.

Initial public offerings, secondary stock offerings, trading and mergers and acquisitions are all hurting as U.S. equities approach their first two-year decline since 1973-74, he said.

At the same time, compensation costs -- the largest cost for investment banks by far -- have been growing in recent years, Rauch said.

``All rated securities firms have been adding to staff over the last couple of years,'' even into year 2000 when revenues had begun to slow, he said. Companies have since cut staff and expenses, but only Merrill Lynch had reduced its head count to below 1999 levels by the end of the third quarter, he said.

Bad loans also are likely to mount, said analyst Tanya Azarchs. Though nonperforming loans leveled off in the third quarter, ``the worst is not yet over,'' she said.

Still, most banks have considerable cushion in their earnings to raise reserves or cover higher levels of charges, she said. ``For the type of cycle we're expecting, it will be more an earnings event rather than a hit to capital when nonperformers peak,'' she said.

http://biz.yahoo.com/rf/011106/n06349357_2.html

[Joemoney]

SEC to Prod Web Brokers on System Warnings

By Kevin Drawbaugh

WASHINGTON (Reuters) - Internet brokerage sites are likely to be posting clearer and more noticeable warnings of possible system crashes and delays, under measures outlined in a letter from the top U.S. markets cop released on Monday.

The Securities and Exchange Commission (news - web sites) ``intends to encourage online broker-dealers to strengthen the risk disclosures made to customers on their Web sites,' said SEC Chairman Harvey Pitt in a letter to members of Congress.

The SEC's push on the issue comes after it surveyed 27 online brokerages and found 74 percent failed to alert online investors to chances of system delays and outages -- the leading source of complaints among online investors.

Most online brokerage sites tell investors about the risks of investing and buying on margin, but the SEC called the lack of adequate system failure warnings a ``significant weakness.'

``The commission is committed to ensuring that investors are protected, whether they access securities markets online or through traditional means,' Pitt said in the letter.

Online investing -- or buying and selling securities through a web-based account instead of by phone or by visiting a stockbroker's office -- peaked in early 2000 along with the technology stocks bubble. Since then, online trading is down, especially since the Sept. 11 attacks hammered the markets.

Investors executed about 770,000 trades daily through the web in the second quarter of 2001, down 5 to 10 percent from the first quarter and far below the peak of 1.4 million trades daily in the first quarter of 2000, according to JP Morgan H&Q.

Still, new online brokerage accounts continue to be opened. There were more than 19 million active U.S. accounts at the end of 2000, provided by companies such as Charles Schwab Corp. (NYSE:SCH - news), Ameritrade Holding Corp. (Nasdaq:AMTD - news), E+Trade Group Inc. (NYSE:ET - news) and TD Waterhouse Group Inc. (NYSE:TWE - news).

Studies have shown that complaints about online brokerages have fallen since early 1999, but the most common complaint consistently involves failures or delays in processing orders and difficulties in accessing an account.

E+TRADE SITE WARNS OF SYSTEM RISK

Clicking on ``Tell Me More' at Ameritrade's home page leads to a page with a heading for ``Services.' That page leads to another with a heading for ``Ways To Trade.' Clicking under that heading on ``Online' leads to a page with the following footnote at the bottom in small print: ``Market volatility and volume may delay system access and trade executions.'

``Our system is very reliable. We have many things in place, such as a redundant data center ... So we have everything backed up,' said Donna Kush, an Ameritrade spokeswoman.

The E+Trade home page has a heading called ``Important Message about Risk.' Clicking on it opens a page that contains warnings about the risks of investing and this statement:

``Also, there is the risk that you could encounter system failures due to your computer systems, your service provider's systems, or even our own. Please be aware that in the event of any system failures, you generally have other means available to you to access your E+TRADE account-by telephone and interactive voice response.'

John Metaxas, spokesman for E+Trade, said, ``That language is on our site and it's been there for some time.'

The risk of system failure or delay is just one of several facing online investors, said Barbara Roper, director of investor protection at the Consumer Federation of America.

``The risk that you won't be able to get your trade through if the system is delayed can create potential costs that far exceeds the cost of the commission,' Roper said. ``Those risks need to be clearly and prominently disclosed. If the SEC is moving in that direction, then that's a positive step.'

Pitt said the SEC intended to push online brokerages to keep better records on outages and delays and to post clearer and more prominent warnings of their risks.

The commission will monitor industry performance and determine if more rules are needed, Pitt said in the letter addressed to Rep. C.W. Young, the Florida Republican who chairs the House of Representatives Committee on Appropriations.

Pitt's letter came in response to a report issued this summer on online brokerages by the General Accounting Office (news - web sites), the investigative arm of Congress.

http://dailynews.yahoo.com/h/nm/20011105/wr/financial_sec_online_dc_2.html

[Joemoney]

I use RB as my way of letting off steam or just PO people, but I post my informative information on iHub.

I did not catch the QTEK run. It didn't reach anywhere near the price target you set for it, but it fell back down quickly.

DLGI? Please explain, PM me.

I'm getting my server soon, which will give me access to all of my email subscribers.

Joemoney

[thepennyking]

Maybe EGRP should buyout Nextcard:

http://dailynews.yahoo.com/h/nm/20011031/wr/financial_nextcard_earns_dc_1.html

http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&gui...


Looks like EKNO is running again today.

http://www.otcbb.com/asp/quotes.asp?Quotes=EKNO

http://ragingbull.lycos.com/mboard/boards.cgi?board=EKNO&startfrom=11

http://biz.yahoo.com/n/e/ekno.ob.html


Long time no hear from you. You have been busy on RB and Ihub I see. Hope you caught the run on QTEK. Watch WWMP too. Still have some DLGI I can't get rid of, any hints?

Penny King Holdings Corporation, a Delaware Investment Holding Company.

[Joemoney]

Pristine.com Selected as E*TRADE Educational Seminar Provider

WHITE PLAINS, N.Y., Oct. 31 /PRNewswire/ -- Pristine.com, (http://www.pristine.com ), the leading online educational site for active, self-directed traders today announced that it has signed an agreement with E*TRADE Group, Inc. (NYSE: ET - news) to provide a series of educational trading seminars hosted by E*TRADE. The first series of seminars, designed for the self-directed trader, will take place November 2-4, 2001 at E*TRADE's flagship financial services store, E*TRADE Center in New York. Future seminars at this and other E*TRADE locations are being planned.

``We are pleased to announce our new association with E*TRADE, one of the world's leaders in online financial services,'' said Oliver L. Velez, chairman, chief executive officer and co-founder of Pristine Capital Holdings, Inc., the parent company of Pristine.com. ``We, at Pristine, have been educating active traders for seven years, and now, in cooperation with E*TRADE, we will be able to deliver our concepts to a much broader audience.''

The educational seminars being provided by Pristine.com are entitled ``Developing a Master Trading Plan'' and ``Trading the Pristine Method(TM)''. These courses will discuss risks involved in active trading and explore trading tools and strategies(1). Pristine.com will also provide continuing education via access to its wide array of online educational services.

``Few retail customers today really understand the power of online brokerage when coupled with proper education,'' added Velez. ``Through our approach, we empower individuals to profit from short and intermediate-term moves in the market by simple techniques that are easily applied. We are excited and looking forward to bringing the Pristine Method(TM) to E*TRADE customers.''

About Pristine.com (http://www.pristine.com )

Established in 1994, Pristine.com provides insight, intelligence and education for the self-directed trader. Much more than stock tips and buy-sell-hold advice, Pristine's combination of live seminars and online services guide both new and experienced traders to a more intuitive understanding of the markets. From a modest beginning as a daily fax sheet outlining explanations of the day's market activity, Pristine.com has grown to become one of the world's largest and most sophisticated on-line educational services for active self-directed traders.


(1) Opinions and ideas expressed in the Pristine presentation are those
of the authors and not of E*TRADE Group, Inc. or its subsidiaries,
and you should always consider your own financial circumstances and
goals carefully before acting upon them.


About E*TRADE (http://www.etrade.com )

E*TRADE is a global leader in online personal financial services, offering value-added investing, banking and research features, premium customer service and a redundant, proprietary Stateless Architecture® infrastructure. In addition to the U.S., E*TRADE presently serves customers in Australia, Canada, Denmark, Hong Kong, Israel, Japan, Korea, Norway, Sweden, and the U.K. through branded web sites. E*TRADE Securities, Incorporated (member NASD/SIPC), and its parent company, E*TRADE Group, Inc., have offices in Northern California, New York City and in other major business centers in the U.S. and worldwide.

SOURCE: Pristine.com

http://biz.yahoo.com/prnews/011031/nyw068_1.html

[Joemoney]

E*TRADE Bank Further Extends Investment in Community Through CRA Fund Of SBICs, L.P.

E*TRADE Bank Helps Fill the Gap Between Available Capital and Needs of Small Business Through Portfolio of Small Business Investment Companies

ARLINGTON, Va., Oct. 22 /PRNewswire/ -- E*TRADE Bank, the nation's largest branchless bank and a wholly-owned subsidiary of E*TRADE Group, Inc. (NYSE: ET - news), today announced that it has invested $3 million in the CRA Fund of Small Business Investment Companies, L.P. (``SBICs''), a limited partnership through which banks invest in a diversified portfolio of SBICs operating throughout the United States.

``E*TRADE Bank's $3 million commitment to the CRA Fund of SBICs provides focused support to our assessment area while it opens the door to develop lending and other investment opportunities with small businesses participating in the Fund,'' said Mitchell Caplan, chief financial products officer and managing director, North America, E*TRADE Group, Inc. ``The Fund's strategy is consistent with our CRA requirements and fits the footprint of non-traditional institutions like E*TRADE Bank.''

CRA regulations are designed to encourage banks to invest in their assessment areas by providing capital to businesses and helping the community grow. The Small Business Investment Company (SBIC) Program was created by Congress in 1958 to fill the gap between the availability of venture capital and the needs of small businesses in start-up and growth situations.

SBICs, licensed and regulated by the Small Business Administration, are privately owned and managed investment firms that use their own capital, plus funds borrowed at favorable rates with an SBA guarantee, to make venture capital investments in small businesses. They provide equity capital, long-term loans, debt-equity investments and management assistance to qualifying small businesses. SBICs benefit in sharing the success of the small business as it grows and prospers.

CRA Funding manages the Fund in association with Hamilton Lane of Philadelphia and Pantheon Ventures of San Francisco. Both are leading investors in venture capital and private equity partnerships with responsibility for approximately $30 billion in assets.

About E*TRADE Bank

E*TRADE Bank is a wholly-owned subsidiary of E*TRADE Group, Inc. Deposits at E*TRADE Bank are insured up to $100,000 by the FDIC. E*TRADE Bank is the nation's largest branchless bank with over $13 billion in assets, more than $8 billion in deposits and over 436,000 customer accounts as of September 30, 2001. E*TRADE Bank is the only branchless bank to be ranked among the top 14 federally chartered U.S. savings banks based on both assets and deposits according to FDIC data as of September 30, 2001. E*TRADE Bank's wholly-owned subsidiary, the award-winning* E*TRADE Mortgage, is one of the nation's largest online mortgage origination platforms. E*TRADE Bank is also affiliated with E*TRADE Access, Inc., now the largest off-premises ATM network in the U.S. and the third largest ATM network nationwide based on American Bankers Association Data as of July 27, 2000. E*TRADE Bank can be accessed at etradebank.com or 1-800-ETBANK-1.

Important Notice

E*TRADE, the E*TRADE logo, E*TRADE Bank and Stateless Architecture are registered trademarks of E*TRADE Group, Inc. or its subsidiaries. The statements contained in this news release that are forward-looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include, but are not limited to, changes in market activity, anticipated increases in the rate of new customer acquisition, the conversion of new visitors to the site to customers, seasonality, the development of new products and services, the enhancement of existing products and services, competitive pressures (including price competition), system failures, economic and political conditions, changes in consumer behavior and the introduction of competing products having technological and/or other advantages. Further information about these risks and uncertainties can be found in the information included in the annual report filed by the company with the SEC on Form 10-K (including information under the caption ``Risk Factors'') and quarterly reports on Form 10-Q.

CONTACT: Cam Gilbert of E*TRADE Group, Inc., [phone], or [e-mail]; or Lawrence Mondschein of CRA Funding, LLC, [phone], or [e-mail].

SOURCE: E*TRADE Group, Inc.

http://biz.yahoo.com/prnews/011022/sfm091_1.html

[Joemoney]

Once, iHub picks up, this board will too. I have plans to promote this board to bring people here within the next 3 weeks. I'm currently in the process of organizing my mailing list (from my website), and buying my own server. I will do my best to get some activity on this board.

Good luck!
Joemoney

[STEVEN_D]

Hello Board,

I have been looking for a ET board with no spam or bashers, looks like I have
found one, but theres no one here.

Steven D...

[Joemoney]

E*Trade Acquires Rival Broker Web Street

By Clare Saliba, www.EcommerceTimes.com
In a bid to diversify its revenue streams and increase its customer base, Internet brokerage E*Trade (NYSE: ET - news) announced Monday that it has inked a deal to acquire rival online broker Web Street (Nasdaq: WEBS - news) for US$45 million in stock.

• Ameritrade Reportedly Being Purchased
• Shakeout Time for Internet Brokerages - Part II
• E*Trade Opens in Israel

The purchase includes all of Web Street's 34,000 active accounts as well as its physical branches in San Francisco and Beverly Hills, California; Boston, Massachusetts; and Denver, Colorado.

Web Street's brick-and-mortar locations will be converted to E*Trade centers and adopt the company's financial superstore concept.

Menlo Park, California-based E*Trade said it expects the acquisition to add earnings and revenue immediately upon closing. The deal is subject to regulatory and other approvals.

"The acquisition of Web Street further demonstrates the strength of the E*Trade brand and its agility to seize opportunities that make strategic sense," said E*Trade chairman of the board and chief executive officer Christos M. Cotsakos.

Revenue Boost

In a breakdown of its purchase price, E*Trade said that $25 million represents the acquisition of Web Street's business and accounts, and the remaining $20 million applies to the buyout of the four physical locations, cash on hand and net operating losses, which E*Trade anticipates will result in future tax savings.

E*Trade said the deal, which values Web Street at about $1.74 per share, will add $25 million a year to E*Trade's annual revenue.

In April, E*Trade reported a net loss for the quarter ended March 31st of $7.2 million, or 2 cents per share, compared with a loss of $25.5 million, or 9 cents, a year earlier.

In early trading Monday, E*Trade remained steady, inching up 6 cents to $9.26.

Going Wide

E*Trade has been working to differentiate itself from its competition by expanding both its offerings and its global reach.

Earlier this month, the online broker launched E*Trade Israel, its first site in the Middle East. The company currently operates sites in 11 other countries, including Australia, Denmark and Japan.

In January, the company acquired online mortgage originator LoansDirect.com as a springboard for entering the consumer credit market. More recently, E*Trade opened a brick-and-mortar superstore in New York City.

The company is also expanding its alliance with discount retailer Target by putting more than 1,000 new automated teller machines and 20 additional customer service centers in Target stores across the United States.

Consolidation Time

Online brokerage houses may be facing a wave of consolidation as the harsh stock market climate continues to batter bottom lines.

Earlier this month, it was reported that Canadian Imperial Bank of Commerce (NYSE:BCM - news) is in advanced negotiations to purchase online brokerage Ameritrade (Nasdaq: AMTD - news) for up to $1.8 billion.

Although Ameritrade declined to comment on the report, Ameritrade chairman Joe Ricketts, who with his family owns more than 60 percent of the company, reportedly said recently that he would be willing to sell Ameritrade if the price were right.

http://dailynews.yahoo.com/h/nf/20010521/tc/9886_1.html

[Joemoney]

E*TRADE Bank Funds More Than $1 Billion New Mortgages Through LoansDirect

Nation's Largest Pure-Play Internet Bank Funds Leading Online Mortgage Origination Platform to Enhance Profitability Through Integrated Financial Services Model
ARLINGTON, Va., May 31 /PRNewswire/ -- E*TRADE Bank, a wholly-owned subsidiary of E*TRADE Group, Inc. (NYSE: ET - news), and the nation's largest pure-play Internet bank, today announced its latest milestone, funding more than $1 billion in mortgage originations through LoansDirect, a leading online mortgage originator acquired by E*TRADE on February 1, 2001.

E*TRADE Bank has become the exclusive source of funding for LoansDirect, leveraging an integrated financial services model that now includes mortgage origination in addition to banking, brokerage and other wealth management services, all provided through E*TRADE and its subsidiaries. By securing funding exclusively through E*TRADE Bank, LoansDirect now realizes significant cost savings and eliminates its dependence on third party warehouse lenders.

``By surpassing this latest milestone of funding more than $1 billion in mortgage originations, we continue to demonstrate the synergy and resilience of E*TRADE's integrated financial service model,'' said Mitchell H. Caplan, managing director, North America and chief global banking and wealth management officer of E*TRADE Group, Inc. ``Our diversified model drives asset growth, diversifies revenue, and creates a key strategic differentiator in a competitive-and constantly changing-marketplace. With the ability to originate and the capacity to fund, we streamline the mortgage origination process to increase value for our customers and we enhance profitability to increase value for our shareholders.''

LoansDirect continues to maintain its leadership position as one of the largest online retail mortgage lenders, generating a total volume of more than $1 billion since the recent acquisition by E*TRADE only three months ago, with another $583 million locked loans in the pipeline. As the mortgage financing boom moves into its fifth month, monthly volumes at LoansDirect continue to rise, reaching $385 million during April 2001 as compared to $308 million during March 2001, a record month over month increase of 25%. In addition, LoansDirect generated gross revenues of nearly $15 million since the acquisition, through origination points, loan-related fees and gain on sale of loans. This gross revenue is estimated to continue at the rate of $5 to $6 million per month going forward.

Mortgages are currently the third most widely used financial service product on the Internet. Through LoansDirect's efficient and direct lending platform, E*TRADE now offers a full range of mortgage products to gain another key competitive advantage by securing the core financial relationship with consumers and expanding cross-sell opportunities to its growing customer base.

About E*TRADE Bank

E*TRADE Bank is a wholly-owned subsidiary of E*TRADE Group, Inc. Deposits at E*TRADE Bank are insured up to $100,000 by the FDIC. E*TRADE Bank is the nation's largest pure-play Internet bank with over $12.0 billion in assets, more than $6.7 billion in deposits and over 404,000 customer accounts as of March 31, 2001. E*TRADE Bank is the only pure-play Internet bank to be ranked among the top 18 federally chartered U.S. savings banks based on both assets and deposits according to FDIC data as of March 31, 2001. E*TRADE Bank's wholly-owned subsidiary, the award-winning* LoansDirect, is one of the nation's largest online mortgage origination platforms. E*TRADE Bank is also affiliated with E*TRADE Access, Inc., now the largest off-premise ATM network in the U.S. and the third largest ATM network nationwide based on American Bankers Association Data as of July 27, 2000. E*TRADE Bank can be accessed at etradebank.com or 800-ETBANK-1.

About E*TRADE

E*TRADE is a global leader in online personal financial services, offering value-added investing, banking and research features, premium customer service and a redundant, proprietary Stateless Architecture® infrastructure. In addition to the U.S., E*TRADE presently serves customers in Australia, Canada, Denmark, Hong Kong, Israel, Korea, Japan, Norway, South Africa, Sweden, and the U.K. through branded web sites. E*TRADE Securities Inc. (Member NASD/SIPC), and its parent company, E*TRADE Group, Inc., have offices in Northern California, New York City and in other major business centers in the U.S. and worldwide.

About LoansDirect

LoansDirect is a branchless retail enterprise engaged in providing an array of mortgage products directly to consumers through a virtual loan origination platform and a dedicated proactive customer service team. Now authorized to make mortgage loans in all 50 states and the District of Columbia, LoansDirect is a market leader known for low rates, simplicity, speed and certainty of delivery. The Company's integrated user interface consistently receives high marks for customer satisfaction achieving a top ranking by Gomez Advisors and Inside Mortgage Technology. The Company's executive team has over 45 years combined experience in the mortgage industry.

Important Notice

E*TRADE, the E*TRADE logo, E*TRADE Bank, Stateless Architecture, and LoansDirect are trademarks or registered trademarks of E*TRADE Group, Inc. or its subsidiaries. The statements contained in this news release that are forward-looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include, but are not limited to, changes in market activity, anticipated increases in the rate of new customer acquisition, the conversion of new visitors to the site to customers, seasonality, the development of new products and services, the enhancement of existing products and services, competitive pressures (including price competition), system failures, economic and political conditions, changes in consumer behavior and the introduction of competing products having technological and/or other advantages. Further information about these risks and uncertainties can be found in the information included in the annual report filed by the company with the SEC on Form 10-K (including information under the caption ``Risk Factors'') and quarterly reports on Form 10-Q.

E*TRADE Bank and E*TRADE Securities, Inc. are affiliated but separate companies. Investment products made available from E*TRADE Securities, Inc. are not insured by the FDIC, are not guaranteed deposits or obligation of E*TRADE Bank and are subject to investment risk, including loss of principal amount invested.

The LoansDirect platform surpassed more than 300 other online mortgage lenders nationwide, ranking #1 in the customer confidence category by Gomez Advisors for two consecutive quarters and reaching the #2 position overall in Gomez Advisors Winter 2000 Internet Mortgage Scorecard(TM).
System response and account access time may vary due to market conditions, trading volume, system performance and other factors.

http://biz.yahoo.com/prnews/010531/sfth034.html