Server: Netscape-Enterprise/2.01 Date: Tue, 16 Dec 1997 14:36:29 GMT Accept-ranges: bytes Last-modified: Fri, 22 Aug 1997 22:33:13 GMT Content-length: 4703 Content-type: text/html PRESS RELEASE

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E*TRADE GROUP, INC. COMPLETES PUBLIC OFFERING OF 8,100,000 SHARES OF COMMON STOCK

Investor Relations Contact:
Stephen Richards, Chief Financial Officer, E*TRADE Group, Inc., 415-842-2503, srichards@etrade.com

News Media Contact:
Kate Connelly, The Dilenschneider Group, 312-553-0700, connelly@mcs.net

PALO ALTO, CALIFORNIA, August 20, 1997 -- E*TRADE Group, Inc. (Nasdaq: EGRP), an electronic financial services company, and through its subsidiary, E*TRADE Securities, Inc., a leading provider of online investing services, today announced the public offering of 8,100,000 of its common stock at a price of $27.50 per common share. Of the 8,100,000 shares being offered, 6,100,000 are being offered by E*TRADE Securities, Inc. and 2,000,000 are being offered by certain selling stockholders of the Company. The Company and a selling stockholder have agreed to sell up to an additional 1.215 million shares upon exercise of an over-allotment option granted to the underwriters.

The offering is being managed by an underwriting group led by Robertson, Stephens & Company, LLC, Hambrecht & Quist LLC, Deutsche Morgan Grenfell, Montgomery Securities and E*TRADE Securities, Inc.

The Company intends to use the net proceeds of the offering for general corporate purposes including working capital. The Company will not receive any proceeds from the sale of common stock by the selling stockholders. A copy of the final prospectus relating to these securities may be obtained from Robertson, Stephens & Company LLC at 555 California Street, Suite 2600, San Francisco, California 94104, (415) 781-9700; or Hambrecht & Quist LLC at One Bush Street, San Francisco, California 94104, (415) 576-3300; or Deutsche Morgan Grenfell at 1550 El Camino Real, Suite 100, Menlo Park, California 94025, (415) 614-5000; or Montgomery Securities at 600 Montgomery Street, San Francisco, California 94111, (415) 627-2000, or E*TRADE Securities, Inc. via the Internet at www.etrade.com.

A leading provider of online investing services, E*TRADE has established a popular, branded destination Web site for self-directed investors. The Company offers independent investors the convenience and control of automated order placement and execution 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 Microsoft Investor; by Go ETRADE on CompuServe; with keyword ETRADE on America Online; via direct modem connection; and via the touchtone telephone TELE*MASTER system. E*TRADE Securities and its parent company, E*TRADE Group, Inc., are headquartered in Palo Alto, California.

A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


© Copyright 1996 E*TRADE Securities, Inc. All Rights Reserved.