StorEdge Order from E-Trade:
E*TRADE Teams With Sun Microsystems to Meet Rising Demand for On-Line
On-Line Investing Leader Opens New Technology and Customer Service Center Near
Atlanta Running on Systems From Sun
NEW YORK, June 15 /PRNewswire/ -- In another move to meet booming demand for on-line investing services with the latest cutting-edge technology, E*TRADE Group, Inc. (Nasdaq: EGRP) and Sun Microsystems, Inc. (Nasdaq: SUNW) today announced the opening of a major E*TRADE technology and customer service center outside of Atlanta.
The center, situated in Alpharetta, Ga., will be one of E*TRADE's primary fault tolerant, fully redundant hubs for serving more than 1 million investor accounts throughout the world.
"The opening of our new technology and service center was a significant endeavor for E*TRADE and its key vendors, and it represents another critical step toward building an infrastructure capable of handling the growth in on-line investing in mainstream America," said Debra Chrapaty, president and chief operating officer of E*TRADE Technologies, the company's technology division. "We are absolutely committed to enhancing our Stateless Architecture(TM) and product-service mix to position E*TRADE for the new millennium."
Although on-line investing has grown exponentially the last several years, it is far from the saturation point. Indeed, some leading industry analysts expect on-line investing to increase nearly fourfold -- from 40 billion to 140 billion trades per year -- by 2002.
To better prepare for this, E*TRADE chose to work with a virtual "Who's Who" of network computing leaders to build its new technology and service center. The backbone of the operation includes more than 100 highly reliable and scalable Sun Enterprise(TM) 250, 450 and 6500 servers with the robust Solaris(TM) Operating Environment. E*TRADE is also using high performance Sun StorEdge(TM) A5000 Fibre Channel Arrays as well as Sun StorEdge D1000 RAID systems. The computing hardware includes networking equipment from Cisco Systems Corp. and utilizes database, Web and transaction processing applications from Oracle Corp., the Sun-Netscape Alliance and BEA Systems, Inc.
"This is a highly advanced, multi-tiered architecture that's been specifically designed to take full advantage of the outstanding scalability, reliability, flexibility and security offered by Sun's Solaris Operating Environment," said Rob Hall, vice president, financial services, Sun Microsystems. "By using network computing to put investment and market intelligence in the hands of its customers, E*TRADE has turned this industry on its ear. It's great to see E*TRADE, like many of our customers in online investing, turning to our platform as a conduit for this kind of change."
About E*TRADE
As the nation's most visited online investing web site, E*TRADE offers individual investors the convenience and control of automated stock, bond, options and mutual fund order placement at low commission rates. In addition, E*TRADE has a suite of value-added products and services that can be personalized, including portfolio tracking, real-time stock quotes, Smart Alerts, market commentary and analysis, news, investor community areas and other information services. E*TRADE was the first securities and financial services company to be awarded the CPA WebTrust seal of assurance by the American Institute of Certified Public Accountants (AICPA). E*TRADE received the top ranking on the Internet Broker scorecard for Summer 1999 from leading independent industry analyst Gomez Advisors and, in the fourth quarter of 1998, was named the No. 1 online investing site in an international survey of the industry's top 20 Internet brokerage firms by Lafferty Information and Research Group, a global provider of high-value and business information research. Investors can access E*TRADE at www.etrade.com on the Internet and through many other electronic channels and online services, including AOL (Keyword: E*TRADE) and via the TELE*MASTER interactive telephone system. E*TRADE Securities Inc. (Member NASD/SIPC), and its parent company, E*TRADE Group Inc., are headquartered in Palo Alto, Calif.
About Sun Microsystems, Inc.
Since its inception in 1982, a singular vision, "The Network Is The Computer(TM)," has propelled Sun Microsystems, Inc., to its position as a leading provider of high quality hardware, software and services for establishing enterprise-wide intranets and expanding the power of the Internet. With more than $11 billion in annual revenues, Sun can be found in more than 150 countries and on the World Wide Web at sun.com.
Important Notice
E*TRADE is a registered trademark of the company. All other trademarks are properties of their respective owners. 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, market acceptance of the new Destination E*TRADE web site, 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 and interruptions, 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. Market size information contained in this release and provided by Gomez Advisors has not been independently verified by the company.
NOTE: Sun, the Sun logo, Sun Microsystems, Sun Enterprise, Sun StorEdge, Solaris, HotJava and "The Network Is The Computer" are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and in other countries.
Press announcements and other information about Sun Microsystems are available on the Internet via the World Wide Web using a tool such as Netscape Navigator or Sun's HotJava(TM) browser. Type sun.com at the URL prompt.
SOURCE Sun Microsystems, Inc.
CO: Sun Microsystems, Inc.; E*TRADE Group, Inc.
ST: New York, California, Georgia
IN: CPR MLM FIN
SU: PDT
06/15/99 09:01 EDT prnewswire.com
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