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PR NewsWire 8:45am E*TRADE Again Rated #1 Place to Invest Online
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Gomez Advisors Awards E*TRADE Top Overall Ranking;
Number One for Relationship Services, Ease-Of-Use and the 'Serious Investor'
PALO ALTO, Calif., June 3 /PRNewswire/ -- E*TRADE(R) Group Inc.
(Nasdaq: EGRP) today announced it again has earned the prestigious number one
ranking in Gomez Advisors' Internet Broker Scorecard for Summer 1999. The
ranking marks the third quarter in the past twelve months in which E*TRADE
claimed the top spot in the ranking of online investing sites. E*TRADE
received top rankings in four primary categories -- Overall Score,
Ease-Of-Use, Relationship Services and the Serious Investor profile.
"This is another validation of E*TRADE's commitment to delivering the most
empowering digital financial media experience on the Internet," said Christos
M. Cotsakos, chairman and chief executive officer of E*TRADE. "Gomez
Advisors' ranking confirms again that E*TRADE provides individual investors
with more compelling reasons to invest with us than any online brokerage."
According to the review published on Gomez Advisors' web site
(www.gomez.com), "E*TRADE offers more product, better use of information and
competitive pricing -- a package that is better than all of the rest. E*TRADE
simply offers more features, tools and services than its competitors, whether
it is a trading game, Nasdaq Level II quotes, fully interactive charts and
affinity programs."
Launched in September 1998, the Destination E*TRADE web site provides
individual investors with an unparalleled selection of financial tools and
content, research services and product offerings. Along with stocks, options,
mutual funds and, recently, bonds, individual investors also have the
opportunity to subscribe to Initial Public Offerings (IPOs). To help
individual investors manage their personal finances, E*TRADE introduced Smart
Alerts, which provide e-mail updates on specific equities based on price and
volume, and the Portfolio Manager, which enables customers to monitor stocks
on a variety of market criteria.
Gomez Advisors' specifically judged E*TRADE as the top site for the
important Serious Investor segment. Late last year, the company successfully
launched Power E*TRADE. Specially created for the active trader, Power
E*TRADE provides free Level II Nasdaq quotes, premium news and analysis
including TheStreet.com, priority customer service and analyst recommendations
prior to market open.
The Gomez Advisors report continued, "During the service interruptions
that plagued them last quarter, E*TRADE kept pressing forward with investments
in customer service and site enhancements and now they are reaping the
benefits."
In March, E*TRADE launched its third customer service and technology
center in Alpharetta, Ga. E*TRADE also doubled the number of customer service
representatives since the beginning of the year. In addition, E*TRADE
continues to advance the customer service features of its web site, including
the development of Live Customer Service Forums, new content for E*STATION,
the 24-hour online help center, and a fully automated, guided tour of the web
site for new visitors.
E*TRADE's commitment to excellence has made it the number one place to
invest online not only with leading industry analysts, but also with
individual investors. E*TRADE, which recently surpassed 1 million active
customer accounts, consistently ranks as the most visited online investment
services site with an Internet reach that exceeds the combined reach of the
Charles Schwab and Ameritrade web sites, according to Media Metrix(TM), which
measures the Internet reach of major web sites.
"With more than 150 online investing services to choose from, we remain
ever-vigilant when it comes to providing a superior online investing
experience," continued Cotsakos. "It's extremely gratifying to again be
ranked number one by Gomez Advisors, especially in light of the growing
competition. We believe late entrants to the online investing category -- who
are not single-mindedly focused on the Internet experience -- will find it
difficult to compete with E*TRADE."
Also according to the Gomez Advisors report, "A recent investment in
Archipelago will bring access to ECNs and E*TRADE's acquisition of Telebanc
has the potential to push their cash management services to a position of
industry leadership."
Announced on Tuesday, E*TRADE's definitive agreement to merge with
Telebanc, the nation's leading online bank, will create the nation's first
pure-play e-commerce company that combines banking and brokerage services.
E*TRADE expects its merger with Telebanc will continue to revolutionize
personal financial services on the Internet.
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, one of the leading independent
authorities in online consumer services, ranks the various web sites based on
direct examination of the site, 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.
The Destination E*TRADE web site also recently received -- for the second
consecutive quarter -- the top ranking as "the world's best financial web
site" from the Lafferty Information and Research Group. In the Lafferty
report, E*TRADE received perfect scores in four of the five criteria used to
judge a variety of financial services web sites, including interactivity,
content, navigation, speed and design.
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 the first securities and financial services company to be
awarded the CPA WebTrust seal of assurance by the American Institute of
Certified Public Accountants (AICPA). In consecutive quarters (4Q98, 1Q99),
the E*TRADE web site was named the No. 1 online investing site in a
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) and via the TELE*MASTER interactive
telephone system. 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 or interruptions, 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: Don Scott, 212-317-0900, ext. 16, dscott@nealemay.com, or
Russell Simon, 650-842-2437, rsimon@etrade.com, both of Neale-May & Partners
for E*TRADE Group Inc.
SOURCE E*TRADE Group Inc.
-0- 06/03/99
/CONTACT: Don Scott, 212-317-0900, ext. 16, dscott@nealemay.com, or
Russell Simon, 650-842-2437, rsimon@etrade.com, both of Neale-May & Partners
for E*TRADE Group Inc./
/Company News On-Call: prnewswire.com or fax,
800-758-5804, ext. 136683/
/Web site: gomez.com
/Web site: etrade.com
(EGRP)
CO: E*TRADE Group Inc.; Gomez Advisors
ST: California
IN: MLM FIN
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