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E*Trade Card

CA-based E*Trade said Friday it is aiming for total cash management, online, with the launch of a new ‘Classic’ and ‘Platinum VISA’ card to compliment its Web site for online investing services. E*Trade and First USA are joining up to offer the co-branded VISA cards to about 400,000 E*Trade users. The program will feature First USA’s current, primary pricing of a fixed interest rate of 9.99% and no-annual-fee. E*Trade said it intends to offer a complete array of future enhancements such as online bill presentment and payment from existing E*TRADE accounts, along with various incentive offerings and loyalty programs.

FULL STORY:
Moving aggressively to ensure its customers are the first to benefit from total cash management online, E*TRADE Group Inc., a leading, branded popular destination Web site for online investing services, announced Friday it has joined with First USA to offer Platinum and Classic Visa credit cards to its customers at competitive interest rates and no annual fees. The new Visa card joins the expanding line of cash management services at E*TRADE, from checkwriting to securities investing, designed to provide the E*TRADE customer with the tools, services and convenience of managing all their financial and investing needs online.

“At E*TRADE, we are committed to offering independent investors the most comprehensive selection of financial services available in the online industry,” stated Christos M. Cotsakos, President and Chief Executive Officer of E*TRADE Group, Inc. “The addition of the E*TRADE Visa card is yet another example of how the E*TRADE customer is benefiting from our effort to offer total cash management online and our strategy to be a full-service online financial services provider. We have staked our claim as an innovator in this market, and by continuing to add to our already wide selection of products and services, we intend to maintain our competitive edge in the online industry.”

According to Cotsakos, E*TRADE’s partnership with First USA means the E*TRADE cardholder is getting a recognized leader in high-value co-branded credit cards supported by superior customer service. “The E*TRADE Visa card, like other E*TRADE services, is an excellent consumer value,” he said. At 9.9% APR, the E*TRADE Platinum card features one of the most competitive rates available to credit card consumers and has no annual fees. Depending on eligibility, credit lines will extend from $5,000 to $100,000. Other Visa services, including year-end summaries, emergency cash, auto insurance coverage, and warranty services will also be instantly available. Additionally, a complete array of future enhancements such as online bill presentment and payment from existing E*TRADE accounts is being developed along with various incentive offerings and loyalty programs.

E*TRADE presently offers a comprehensive range of services to assist its customers in managing all their financial needs, from the time they get money into their account, to what to do with it while it’s waiting to be invested, to how to withdraw funds. Already, E*TRADE customers can take advantage of numerous account benefits including more than seven personal and five retirement account types, as well as a selection of five money market funds. Many of these accounts feature free no-minimum check writing, direct deposits and electronic cash transfer privileges. All E*TRADE customers earn competitive daily interest rates in their cash accounts between their investments.

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, along with a suite of value-added products and services that can be personalized, including portfolio tracking, Java-based charting and quote applications, real-time market commentary and analysis, news and other information services.

Customers can access E*TRADE at http://www.etrade.com on the Internet as well as through WebTV; via Prodigy; via AT&T Worldnet; via Microsoft Investor; by GO ETRADE on CompuServe; with the keyword E*TRADE on America Online; via personal digital assistant; and via the TELE*MASTER interactive telephone system. E*TRADE Securities, Inc., and its parent company, E*TRADE Group, Inc., are headquartered in Palo Alto, Calif.

E*TRADE is a registered trademark of the Company. TELE*MASTER is a trademark of E*TRADE Securities, Inc. 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, seasonality, the development of new products and services, the enhancement of existing products and services, competitive pressures, 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 matters can be found in the information included in the annual report filed by the Company with the SEC on Form 10-K and quarterly reports on Form 10-Q.

About First USA

First USA (http://www.firstusa.com/), a subsidiary of BANC ONE CORPORATION, is a financial services company specializing in the credit card business and is among the largest provider of Visa, MasterCard and private- label credit cards in the nation. First USA has approximately 40.1 million credit cards issued and $39.6 billion in total loans outstanding.

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