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To: Spytrdr who wrote (6521)	5/19/1999 8:11:00 PM
From: Diamond Jim	Read Replies (2) \| Respond to of 13953

Net elite say Schwab winning Web financial race Fund industry must go online or face extinction By David Callaway, CBS MarketWatch Last Update: 7:00 PM ET May 19, 1999 NewsWatch WASHINGTON (CBS.MW) -- Charles Schwab Corp. is winning the race to become the dominant online financial services provider, a panel of senior Internet executives said Wednesday. Schwab (SCH: news, msgs) is already the largest online broker in an industry that claims some 6 million Internet trading accounts. Still, the fund industry boasts more than 77 million individual mutual fund accounts, and that market is only beginning to be tapped, the executives said. "The game today is pretty much over with the models cast and I think Schwab the winner in this paradigm,'' Richard Owen, head of Dell Online, the online business for Dell Computer (DELL: news, msgs), told a group of about 1,000 fund executives at mutual fund trade group Investment Company Institute meeting in the nation's capital.