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E*TRADE FINANCIAL to Open New Financial Services Center in Costa Mesa, California

  Extending its branch infrastructure to provide customers with information,
               services and support when and where they need it

    NEW YORK, Sept. 29 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL Corporation
(NYSE: ET) today announced the opening of its ninth retail financial service
center in Costa Mesa, California, the Company's third center in Southern
California.  The new E*TRADE FINANCIAL Center in Costa Mesa will provide
customers in the area with access to comprehensive investing, banking and
lending solutions and personalized service from Relationship Managers and
Investment Specialists licensed with E*TRADE Securities LLC.
    On September 30, 2004, from 4:00 pm to 8:00 pm, E*TRADE FINANCIAL will
host the grand opening of the Costa Mesa Financial Center at 3200 Bristol
Street, Suite 120.  Executives will be available for interview, providing
information and insight into the Company's expansion in Southern California
and its retail investment offerings.
    "E*TRADE FINANCIAL is committed to providing self-directed investors with
easy access to financial information, services and support through multiple
channels," said Michael J. Curcio, Executive Vice President, E*TRADE
Securities.  "The Centers represent our value proposition, offering customers
a full suite of integrated financial products encompassing investment, banking
and lending solutions."
    At the Costa Mesa E*TRADE FINANCIAL Center, customers will be able to open
brokerage and bank accounts, apply for mortgage and RV/Marine loans, make
brokerage deposits and learn more about investing options with the guidance of
Relationship Managers and Investment Specialists.  Internet access to
etrade.com is also available at the Center to those who want to learn more
about the investment, banking and lending products independently.  The E*TRADE
FINANCIAL Center will be open Monday-Friday, 6:00 am to 4:00 pm.
    E*TRADE FINANCIAL currently operates financial centers in Alpharetta, GA;
Beverly Hills, CA; Boston, MA; Costa Mesa, CA; Denver, CO; La Jolla, CA; New
York, NY; Orlando, FL; and San Francisco, CA.

    About E*TRADE FINANCIAL
    The E*TRADE FINANCIAL family of companies provide financial services
including brokerage, banking and lending for retail, corporate 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. Bank deposits are FDIC insured up to $100,000.  E*TRADE
Securities and E*TRADE Bank are separate but affiliated companies.

    Important Notice
    E*TRADE FINANCIAL and the E*TRADE FINANCIAL logo is a registered trademark
or trademark 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, the activity of customers and assets held at the institution,
seasonality, the development and enhancement of 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.

    (C) 2004 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




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Related links:
  • http://www.etrade.com
    CONTACT:
    Media: Pam Erickson, +1-617-296-6080 or
    pam.erickson@etrade.com, or Investor Relations: Adam Townsend,
    +1-703-236-8719 or adam.townsend@etrade.com, both of E*TRADE
    FINANCIAL Corporation