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Non-Tech : E*Trade (NYSE:ET)

ET 16.40

+1.2%

3:59 PM EST

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To: Secret_Agent_Man who wrote (3171)	7/13/1998 8:48:00 AM
From: Robert Giambrone	Read Replies (1) of 13953

08:43 ET E*TRADE Group (EGRP) 24 1/2: Issue trading 3 pts higher on Instinet after online discount broker agreed to sell a 27.2% stake to Japan's Softbank Corp. for $400 mln. The purchase price is $25.56 per share. "This agreement further strengthens our balance sheet and ensures we are one of the best capitalized online investing companies, with the financial strength to pursue our growth strategy," commented EGRP. Softbank also recently increased its stake in YHOO to 31%.

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