PRESS RELEASE
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Friday November 19, 8:25 am Eastern Time
Company Press Release
SOURCE: E*TRADE Group, Inc.
E*TRADE Accelerates Global Expansion Through
Purchase of E*TRADE @ NetBourse S.A.
Company Will Operate as a Wholly-Owned Subsidiary of E*TRADE Group
MENLO PARK, Calif., Nov. 19 /PRNewswire/ -- In an important step to accelerate its global
growth strategy, E*TRADE© Group, Inc. (Nasdaq: EGRP - news) today announced that it has
acquired 100 percent of E*TRADE @ NetBourse S.A., the E*TRADE licensee for Belgium, the
Netherlands, Luxembourg, Austria, Italy and France. E*TRADE @ NetBourse will operate as a
wholly-owned subsidiary of E*TRADE Group. Financial terms were not disclosed.
Through this acquisition of E*TRADE @ NetBourse and the recent purchase of E*TRADE
Nordic AB, E*TRADE International plans to develop regional centers of excellence that will
provide strengthened management control and achieve economies of scale in driving E*TRADE's
rapidly expanding global operations. It is anticipated that these combined regional entities will also
enable the company to realize greater cost efficiencies while consolidating local revenues and
accounts at the E*TRADE Group level.
``The E*TRADE @ NetBourse acquisition further strengthens our European strategy by allowing
us to leverage greater efficiencies in operations, management and technology, while advancing our
overall growth plans,' said Judy Balint, president and chief operating officer of E*TRADE
International. ``Looking ahead, as we accelerate our plans to build the world's first cross-border
online trading network, these strong regional entities enhance our abilities to quickly capitalize on
the continuing growth of electronic personal financial services and e-commerce across Europe.'
``We are excited with the development of E*TRADE's business in Europe and are pleased to
have been associated with E*TRADE,' said Jean-Christophe Chopin, former CEO responsible
for the development of E*TRADE @ NetBourse since its inception in 1998. ``Based on
E*TRADE's superb technology and marketing expertise, we are confident that they will continue
to establish the E*TRADE brand in Europe by bringing personal electronic financial services to
European individual investors.'
E*TRADE's international regional initiatives are closely linked to, and supported by, the
company's recent acquisition of TIR Holdings. According to Balint, TIR, which is now part of
E*TRADE International, provides E*TRADE's growing international entities with ``deep'
operational experience in key financial markets worldwide, proven back office capabilities and an
existing worldwide base of more than 600 institutional clients.
``TIR's broad local market presence and management expertise around the world, coupled with
their 600-plus institutional client base, give us a significant competitive advantage as we execute on
our global growth strategy,' said Balint. ``Moving forward, we plan to capitalize on all of these
strategic assets to develop a range of valuable new electronic personalized financial services for
institutional clients, as we continue to advance our retail customer business worldwide.'
About E*TRADE
E*TRADE, a global leader in online personal financial services, is the world's most-visited online
investing site according to Media Matrix (9/99), offering value-added investing and research
features, premium customer service and a redundant, proprietary Stateless Architecture
infrastructure. E*TRADE has continued to extend its customers' financial services experience
through the acquisition of Clearstation, a community-based financial analysis site, and its pending
merger with Telebanc, the nation's leading branchless bank. E*TRADE has also expanded 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
serves customers through branded Web sites in Japan, the UK, Sweden, France, Australia, New
Zealand, and Canada.
E*TRADE has been ranked the number one online brokerage by Gomez Advisors for four out of
the last five quarters, Lafferty Information and Research Group, PC Magazine and Smart
Computing magazine.
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 US and
worldwide.
NOTE: 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 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.
CONTACT: Heather Fondo of E*TRADE Group, Inc., 650-331-5248, or hfondo@etrade.com;
or Bronwyn Wormell of Blanc and Otus, 415-912-2365, or bwormell@blancandotus.com, for
E*TRADE Group, Inc.
SOURCE: E*TRADE Group, Inc.
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