E*TRADE FINANCIAL Corporation Reports Monthly Activity for April 2006

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E*TRADE FINANCIAL Corporation Reports Monthly Activity for April 2006
    NEW YORK, May 17 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL
Corporation (NYSE: ET) today released its Monthly Activity Report for
April. The Company's total retail client assets increased 1 percent over
March, totaling $194.1 billion. End of period margin debt balances
increased 2 percent sequentially to $7.0 billion, while average margin debt
balances also increased 2 percent to $6.9 billion. Total Daily Average
Revenue Trades (DARTs) were 183,259, up 8 percent versus March. Gross new
accounts for the month totaled 97,765, resulting in total end-of-period
active accounts of 4,352,979.
    "In April, we continued to experience solid organic growth trends with
respect to our key business drivers including accounts, assets, cash and
credit balances. We view the continuation of these growth trends as
validation of the appeal and competitiveness of our value proposition,"
said R. Jarrett Lilien, President and Chief Operating Officer, E*TRADE
FINANCIAL Corporation. "Additionally, over the first weekend in May, we
completed the conversion of BrownCo accounts onto our platform. While it is
still early, we are very pleased with the conversion from a process and
customer experience perspective. We plan to provide an update to the
attrition levels along with our quarterly results in July."
    MONTHLY ACTIVITY DATA

                                                     Apr-06             Apr-06
                                                       vs.   Qtr Ended    vs.
                                Apr-06     Mar-06    Mar-06  03/31/06    Q1-06

    Trading days                  19.0       23.0      N.M.      62.0     N.M.

    Daily Average Revenue
     Trades (DARTs)
      US                       160,046    148,879     7.5%    159,199    0.5%
      International             23,213     21,409     8.4%     21,960    5.7%
    Total DARTs                183,259    170,288     7.6%    181,159    1.2%

    Market Making
    Equity shares traded(MM)    24,430     39,168  (37.6)%     90,871     N.M.
    Average revenue capture
     per 1,000 equity shares    $0.337     $0.228    47.8%     $0.277   21.8%

    Gross New Retail Accounts
    Trading/investing
     accounts                   71,108     60,347      N.M.   190,027     N.M.
    Deposit/lending accounts    26,657     39,431      N.M.    80,632     N.M.
    Total gross new retail
     accounts                   97,765     99,778      N.M.   270,659     N.M.

    Active Retail Accounts
    Trading/investing
     accounts                3,641,401  3,634,803     0.2%  3,634,803    0.2%
    Deposit/lending accounts   711,578    699,631     1.7%    699,631    1.7%
    Total active retail
     accounts end of period  4,352,979  4,334,434     0.4%  4,334,434    0.4%

    End of period margin
     debt ($MM)                 $6,965     $6,814     2.2%     $6,814    2.2%
    Average margin debt($MM)    $6,878     $6,756     1.8%     $6,631    3.7%

    Retail Client Assets($MM)
    Client assets in
     trading/investing
     accounts                 $175,176   $173,694     0.9%   $173,694    0.9%
    Client assets in deposit
     accounts                  $18,958    $18,901     0.3%    $18,901    0.3%
    Total retail client
     assets                   $194,134   $192,595     0.8%   $192,595    0.8%
    Historical monthly metric data from January 2003 to April 2006 can be
found on the E*TRADE FINANCIAL investor relations site at http://www.etrade.com.
    About E*TRADE FINANCIAL
    The E*TRADE FINANCIAL family of companies provides financial services
including trading, investing, banking and lending for retail and
institutional customers. Securities products and services are offered by
E*TRADE Securities LLC (Member NASD/SIPC). Bank and lending products and
services are offered by E*TRADE Bank, a Federal savings bank, Member FDIC,
or its subsidiaries.
    Important Notice
    E*TRADE FINANCIAL and the E*TRADE FINANCIAL logo are registered
trademarks or trademarks of E*TRADE FINANCIAL Corporation. 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,
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
reports previously filed by E*TRADE Group, Inc. or E*TRADE FINANCIAL
Corporation with the SEC on Form 10-K (including information under the
caption "Risk Factors") and quarterly reports on Form 10-Q.
    2006 E*TRADE FINANCIAL Corporation. All rights reserved.

    E*TRADE FINANCIAL Media Contact
    Pam Erickson
    E*TRADE FINANCIAL Corporation
    617-296-6080
    pam.erickson@etrade.com

    E*TRADE FINANCIAL Investor Relations Contact
    Adam Townsend
    E*TRADE FINANCIAL Corporation
    703-236-8719
    adam.townsend@etrade.com
SOURCE E*TRADE FINANCIAL Corporation
http://www.etrade.com
CONTACT:
E*TRADE FINANCIAL Media Contact - Pam
Erickson, E*TRADE FINANCIAL Corporation, +1-617-296-6080,
pam.erickson@etrade.com; E*TRADE FINANCIAL Investor Relations
Contact - Adam Townsend, E*TRADE FINANCIAL Corporation,
+1-703-236-8719, adam.townsend@etrade.com