The value behind E*TRADE FINANCIAL's name lies in its tireless effort to challenge the old ways of doing business. We succeed in delivering a diversified and integrated portfolio of innovative, customer-focused brokerage and banking products and services by remaining true to our operating ideals and well-proven formula-regularly asking, can this be done better? By applying this level of discipline to our Retail, Corporate and Institutional businesses, we are able to deliver long-term value to our customers and to our shareholders.

E*TRADE FINANCIAL Corp. went public in August 1996 and completed a follow-on offering one year later. The Company's common stock trades on the New York Stock Exchange under the symbol ET. Options trade on the Chicago Board Options Exchange and the American Stock Exchange under the option root symbol ET.

Customers First.

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There's a customer on the other side of every action we take. That's why it is so important that we work hard to exceed their expectations. We must be active listeners. Proactive, not reactive. We must respond quickly, creatively, and with our customers' interests in mind. After all, our reputation is at stake here—as it should be. First impressions are often lasting impressions. We want ours to not just be good, but excellent.

We Move Fast, Very Fast.

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In the Internet economy, the only competitive advantage is speed. We've got to move quickly and powerfully with one another to achieve our goals. We must operate in a global context always ready to adapt to emerging opportunities. We thrive on chaos. We feel empowered to act quickly and adjust as often as needed. And if we fail, we learn from it and restart in the direction of our goals. We are risk-takers.

We Do What We Say.

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In our dealings with one another, our customers, our suppliers, and our community we keep our word. We deliver when we say we will and are committed to making sure our systems, procedures, and methods are consistent and reliable. We promptly identify and fix root causes of problems and perform to predictable standards. Everyone here takes responsibility for their actions.

Who Dares Wins.

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If there is a better, more innovative way to do something, we will seek to unearth, invent, create, leverage, and be first with it. We creatively apply technology to everything we do here—from the products we offer to the efficiency of our internal operations. We seek to increase speed, efficiency, quality, and effectiveness throughout the organization. We are pioneers, innovators, revolutionaries—because those who dare, win.

In the United States, we offer corporate services, including employee stock plan administration, as well as market-making services to brokerage firms. In addition, we provide global institutional customers with a range of securities brokerage products and services, including institutional trading. A key tenet of our strategy is to use our proprietary technology and the Internet to deliver an integrated, personalized and value-added financial services experience to all of our customers.

E*TRADE FINANCIAL Corp., a diversified financial services holding company, by and through its subsidiaries, is a global provider of financial services to retail, corporate and institutional customers. Building on our foundation in online investing, we have expanded to provide retail customers with an integrated and personalized suite of investing, banking, lending, planning and advice services primarily through online channels, under our new brand, "E*TRADE FINANCIAL."