Thursday February 11, 8:25 am Eastern Time
Company Press Release
SOURCE: E*TRADE Group Inc.
E*TRADE Completes Deal With E*OFFERING;
Deal Moves E*OFFERING Closer to Fruition
PALO ALTO, Calif., Feb. 11 /PRNewswire/ -- E*TRADE Group Inc. (Nasdaq: EGRP - news) today announced the
company has completed its initial investment in E*OFFERING, a new full-service investment bank on the Internet.
E*TRADE first announced plans to invest in E*OFFERING on Jan. 12, 1999.
E*TRADE also announced that E*OFFERING is moving closer to implementation by accelerating the rate of
development of its technology infrastructure and state-of-the-art Web site that will enable visitors to research information
on subscribed public offerings to be underwritten by E*OFFERING. In addition, E*OFFERING has instituted an
aggressive recruitment plan to identify and hire talented employees to staff all divisions of the company, including key
research and technology groups.
Founded by Walter Cruttenden III, former president and chief executive officer of Cruttenden Roth Inc., with additional
investment from Sandy Robertson, founder and former chief executive officer of Robertson Stephens & Company,
E*OFFERING was created to bring about a new class of online investment banking services, including providing
individual online investors who are E*TRADE customers with greater access to information regarding public offerings.
E*OFFERING also plans to reduce the corporate fees traditionally associated with the underwriting process.
''Since the formation of E*OFFERING earlier this year, we have received tremendous response from our investor
customers and companies interested in IPO distribution,'' said Christos M. Cotsakos, chief executive officer and
chairman-elect of E*TRADE and a member of E*OFFERING's Board of Directors. ''E*OFFERING is a significant
opportunity for E*TRADE to diversify its business and is representative of E*TRADE's commitment to meet market
demand for a comprehensive suite for strategic financial products.
''E*OFFERING not only will benefit individual investors, but also companies going public by extending their reach to
suitable investors and charging less than traditional investment banks for underwriting IPOs,'' Cotsakos added.
Interested corporate parties can immediately contact E*OFFERING via e-mail at ''eoffering@etrademail.com'' or by
phone at (949) 399-0326.
About E*TRADE
A leading branded provider of online investing services, E*TRADE has established a popular destination Web site for
self-directed investors. The company offers independent investors the convenience and control of automated stock,
options and mutual funds 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 ranked the number one overall online brokerage service in two consecutive
quarterly reviews conducted by Gomez Advisors, a leading independent authority devoted to online financial services
(Q3/Q4 1998).
In October 1998, the E*TRADE Web site also was named the number one 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). E*TRADE Securities Inc. (Member NASD/SIPC), and its
parent company, E*TRADE Group Inc., are headquartered in Palo Alto, Calif.
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 E*TRADE destination 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.
SOURCE: E*TRADE Group Inc.
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