E*TRADE FINANCIAL Corporation Reports Monthly Activity for August 2006

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E*TRADE FINANCIAL Corporation Reports Monthly Activity for August 2006
    NEW YORK, Sept. 13 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL
Corporation (NYSE: ET) today released its Monthly Activity Report for
August. The Company's total retail client assets increased 3.0 percent
sequentially, totaling $181.9 billion. End of period margin debt balances
decreased 5.0 percent sequentially to approximately $6.5 billion, with
average margin debt balances decreasing 5.1 percent to approximately $6.6
billion. Total Daily Average Revenue Trades (DARTs) were 127,951. Gross new
retail accounts for the month totaled 107,226 -- resulting in total
end-of-period active retail accounts of 4,419,289.
    "Given the expected seasonality in trading activity during August, we
were pleased to see strong growth in new accounts, cash balances and total
client assets," said R. Jarrett Lilien, President and Chief Operating
Officer, E*TRADE FINANCIAL Corporation. "The strength of these metrics
through the summer shows the appeal and advantage of our broad product
suite and how these products meet the varying needs of our customers in
different market environments."
    MONTHLY ACTIVITY DATA

                                                                       Q306
                                                                      QTD* vs.
                                             Aug-06             Qtr     Qtr
                                               vs.      Q306   Ended   Ended
                            Aug-06    Jul-06 Jul-06     QTD* 06/30/06 06/30/06

    Trading days              23.0      19.5   N.M.     42.5     63.0    N.M.

    Daily Average Revenue
     Trades (DARTs)
      US                   110,181   120,370  (8.5)%  114,856  142,621 (19.5)%
      International         17,770    17,997  (1.3)%   17,874   22,981 (22.2)%
    Total DARTs            127,951   138,367  (7.5)%  132,730  165,602 (19.8)%

    Market Making
    Equity shares
     traded (MM)            19,752    22,119 (10.7)%   41,871   69,537   N.M.
    Average revenue capture
     per 1,000 equity
     shares                 $0.377    $0.297  26.9 %   $0.335   $0.387 (13.4)%

    Gross New Retail Accounts
    Trading/investing
     accounts               50,024    56,009  N.M.    106,033   169,595  N.M.
    Deposit/lending
     accounts               57,202    24,223  N.M.     81,425    97,739  N.M.
    Total gross new retail
     accounts              107,226    80,232  N.M.    187,458   267,334  N.M.

    Active Retail Accounts
    Trading/investing
     accounts            3,623,982 3,614,091  0.3 % 3,623,982 3,626,963 (0.1)%
    Deposit/lending
     accounts              795,307   758,423  4.9 %   795,307   748,950  6.2 %
    Total active retail
     accounts end of
     period              4,419,289 4,372,514  1.1 % 4,419,289 4,375,913  1.0 %

    End of period margin
     debt ($MM)             $6,484    $6,822 (5.0)%    $6,484    $7,146 (9.3)%
    Average margin
     debt ($MM)             $6,590    $6,946 (5.1)%    $6,768    $6,995 (3.2)%

    Retail Client Assets ($MM)
    Client assets in
     trading/investing
     accounts             $160,767  $156,040  3.0 %  $160,767  $160,149  0.4 %
    Client assets in
     deposit accounts       21,175    20,668  2.5 %    21,175    20,559  3.0 %
    Total retail client
     assets               $181,942  $176,708  3.0 %  $181,942  $180,708  0.7 %


     * Q306 quarter-to-date (QTD) includes results for the two months ended
       August 31, 2006
    Historical monthly metric data from January 2003 to August 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.
    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:
Media - Pam Erickson, +1-617-296-6080,
pam.erickson@etrade.com, or Investor Relations - Adam Townsend,
+1-703-236-8719, adam.townsend@etrade.com, both of E*TRADE
FINANCIAL Corporation