SEP 17, 1999, M2 Communications - MENLO PARK, Calif. -- E@TRADE Group
Inc. (Nasdaq: EGRP) today announced that for the second consecutive
quarter E@TRADE has earned the number one ranking in Gomez Advisors'
quarterly Internet Broker Scorecard. This number one ranking in Gomez
Advisors' Fall 1999 Scorecard marks the fourth quarter in the past five
in which E@TRADE claimed the top spot for online investing sites.
E@TRADE received top rankings in the Overall Score, Ease of Use and
On-Site Resources categories, and also was the top-ranked site for both
the Serious Investor and the Hyper-active Trader. During this ranking
period E@TRADE won more number one rankings than any other individual
competitor, including Charles Schwab, TD Waterhouse and Ameritrade.
"When you have a single-minded focus on putting customers first,
people notice. But we are far from satisfied," said Christos M.
Cotsakos, chairman and chief executive officer of E@TRADE. "In the
months ahead, we'll be giving consumers even more compelling reasons to
use E@TRADE for all their financial needs as we pursue our goal of
creating the world's leading electronic personal financial services
company."
According to the just released Gomez review (www.gomez.com), "E@TRADE
continues to add improved functionality to its site, making it the firm
to beat on a quarterly basis. E@TRADE simply does not rest on its
laurels. E@TRADE simply offers more features, tools and services than
its peers and offers them at a competitive price."
Since the last Gomez Advisors Scorecard results were published,
E@TRADE has made a number of site and service enhancements, including:
An enhanced Power E@TRADE offering, featuring special commission
rebates as low as $4.95, free streaming Nasdaq Level II quotes,
preferred IPO allocations, easier site navigation and an upgraded
Trading Desk. Destination E@TRADE 2.0, E@TRADE's next generation web
design, featuring faster and more intuitive navigation, a fully
integrated E@TRADE Bond Center, an improved Account Services area, a
new Stocks and Options area and other improvements.
Expanded service and support, including a greatly expanded team of
customer service associates available live 24x7x366 via telephone or
e-mail and supported by heavy investments in customer support
technology and training, an expanded 24-hour online help center and
expanded live customer service online forums.
An agreement with Instinet, the world's largest agency brokerage
firm, to offer online after hours trading to all E@TRADE customers.
Customers will be able to trade both listed (NYSE) and Nasdaq equities
from 4 to 6:30 p.m. ET. A new IPO Center "News & Views" service,
combining CBS MarketWatch.com's "IPO Daily Report" and Renaissance
Capital's "IPO Intelligence Online." "News & Views" provides E@TRADE's
customers, members and visitors with free access to authoritative,
up-to-the-minute public offering news, commentary and calendars.
Introduction of a series of proprietary mutual funds, including the
E@TRADE Technology Index Fund, Extended Market Fund and the Bond Index
Fund, all of which will be advised by E@TRADE Asset Management Inc. and
distributed by E@TRADE Securities Inc. The funds are available
exclusively to E@TRADE customers, and are in addition to the already
existing proprietary S&P Index Fund. Additionally, E@TRADE has filed
for an E@TRADE E-Commerce Index Fund and an E@TRADE International Index
Fund which are currently in registration.
Gomez Advisors' Internet Broker Scorecard is based on a rigorous
review of the nation's top 53 online brokerages, across 10 major
categories and 150 different criteria. Gomez Advisors is an online
leader in providing e-commerce research and analysis. The overall
research for the quarterly rankings analyze specific sites through
direct examination, e-mails and phone calls to customer service
representatives, a survey completed by the respective company and
performance monitoring of the site by Gomez Advisors.
On the international front, last week E@TRADE Canada was ranked
number one by the Globe and Mail newspaper in Toronto for "delivering
an easy-to-use-service with lots of extras for active investors."
As further evidence of Destination E@TRADE's popularity with
consumers, the site is now number two among all sites worldwide in
average minutes per user per month, commonly known as "stickiness,"
according to figures recently compiled by Media Metrix and reported by
Morgan Stanley Dean Witter in The Internet Company Handbook. According
to this report, visitors to Destination E@TRADE spend an average of
66.5 minutes per month on the site, second only to eBay and greater
than other popular Internet and financial services sites, including
Yahoo!, Schwab and Motley Fool.
About E@TRADE
E@TRADE, a global leader in online personal financial services, is
the world's most-visited online investing site, offering value-added
investing and research features, premium customer service and a fully
redundant, proprietary Stateless ArchitectureSM infrastructure. E@TRADE
has continued to extend its customers' financial services experience
through the acquisition of Clearstation.com, a community-based
financial analysis site, and its pending merger with Telebank, the
nation's leading branchless bank. E@TRADE is also expanding its value
proposition through strategic investments in E@OFFERING, a full-service
online investment bank, and Archipelago, a leading Electronic
Communications Network (ECN).
E@TRADE plans to expand its global presence by launching branded web
sites in the top 20 financial markets worldwide, and has taken a key
step toward becoming the first online global trading network with its
recently completed acquisition of TIR Holdings. E@TRADE presently has
branded web sites in the UK, Sweden, France, Australia and Canada.
E@TRADE Securities Inc. (Member NASD/SIPC), and its parent company,
E@TRADE Group Inc., have offices in Northern California and in other
major business centers in the U.S. and worldwide.
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, 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. The company has not independently verified market size
information contained in this release and provided by Gomez Advisors.
System response and account access times may vary due to market
conditions, system performance, and other factors.
@M2 COMMUNICATIONS DISCLAIMS ALL LIABILITY FOR INFORMATION PROVIDED
WITHIN M2 PRESSWIRE. DATA SUPPLIED BY NAMED PARTY/PARTIES.@
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