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Non-Tech : TD Waterhouse Group (TWE) -- Ignore unavailable to you. Want to Upgrade?

To: Susan Saline who wrote (670)	7/27/1999 2:20:00 PM
From: zc66	Respond to of 1413

Company Press Release SOURCE: TD Waterhouse Group, Inc. TD Waterhouse Tops 2 Million Active Accounts NEW YORK, July 27 /PRNewswire/ -- TD Waterhouse Group, Inc. (NYSE: TWE - news), the world's second largest discount broker, today announced that it surpassed the two million active customer accounts mark. This represents a 63% increase in active customer accounts in the last 12 months. ''Our customers have come to us two million strong to receive the best combination of price, products, and service. We're extremely proud of this milestone,'' said Stephen D. McDonald, Chief Executive Officer of TD Waterhouse. ''We believe this illustrates the power of the value proposition that we offer investors.'' TD Waterhouse also announced that its customer assets under administration reached $113 billion, an increase of 85% in the last 12 months. Additionally, this firm's total number of customer accounts reached 2.8 million. In the United States, TD Waterhouse operates the country's third-largest discount brokerage firm. Abroad, TD Waterhouse operates discount brokerage units in Canada, Australia, Hong Kong, and the United Kingdom. The firm also has plans to expand into Japan. In June 1999, TD Waterhouse completed an initial public offering. The offering was for approximately $1 billion. It was the largest IPO of an Internet-related company and the 14th largest IPO in New York Stock Exchange history. The company trades on the New York and Toronto Stock Exchanges under the symbol ''TWE.'' Proceeds of the IPO will be used to pursue key elements of TD Waterhouse's business strategy including: leveraging our technological expertise to enhance our customers' experience; enhancing our financial performance by building key businesses; continuing our international expansion; building brand awareness on a global basis; expanding products and services; building customer assets by focusing on high-growth, profitable market segments; and repaying intercompany debt.