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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: Nagesh Ragavendra who wrote (7212)	6/16/1999 9:20:00 PM
From: Spytrdr	Read Replies (1) \| Respond to of 13953

$ 70 was Lehman's target price. my target price for 2002 is $ 700.

To: Nagesh Ragavendra who wrote (7212)	6/16/1999 9:33:00 PM
From: Spytrdr	Read Replies (1) \| Respond to of 13953

ANZ Bank and ETrade Australia Form OnLine Broking Venture Bloomberg News June 16, 1999, 5:42 p.m. PT ANZ Bank and ETrade Australia Form OnLine Broking Venture Sydney, June 17 (Bloomberg) -- Australia & New Zealand Banking Group Ltd., one of Australia's biggest banks, formed an alliance with ETrade Australia Ltd., an Internet stockbroker, to develop online share trading. The two companies will offer online share trading to ANZ's 4 million customers in Australia and New Zealand, as part of the bank's electronic commerce strategy. The service will be managed by ETrade, a subsidiary of the third-largest online broker in the U.S., ETrade Group Inc. ETrade surged almost 40 percent, rising A$2.05 (US$1.35) to A$7.25. ANZ rose 34.6 cents, or 3.3 percent, to A$10.96. ''In the coming months, ANZ will make a substantial investment in marketing e-commerce services, including the ANZ- ETrade co-branded offering, to ensure ANZ is successful in capturing an increasing share of the on-line business,'' said Peter Hawkins, head of ANZ's personal financial services. ETrade Australia will issue ANZ with shares based on the share of ETrade's trade volume generated by ANZ customers. Initially it will issue ANZ with 6 million shares -- about 10 percent of the company. Further shares -- up to a maximum of 40 percent of ETrade stock -- will be issued to ANZ based on the share of E*Trade's trade volume generated by ANZ customers.