E*TRADE FINANCIAL Corporation applies for an order to cease to be a reporting
issuer in Canada

NEW YORK, May 5 /CNW/ - E*TRADE FINANCIAL Corporation ("E*TRADE") (NASDAQ: ETFC) today announced that it has applied to Canadian securities regulators in the provinces of Québec, British Columbia, Alberta, Saskatchewan and Newfoundland and Labrador (collectively, the "Jurisdictions") for an order that E*TRADE is not a reporting issuer in the Jurisdictions. If the order is granted E*TRADE will no longer be a reporting issuer in the Jurisdictions. In its application to cease to be a reporting issuer in the Jurisdictions, E*TRADE has undertaken to concurrently deliver to its Canadian securityholders all disclosure E*TRADE is required under U.S. securities law or exchange requirements to deliver to its U.S. resident securityholders.

About E*TRADE FINANCIAL

The E*TRADE FINANCIAL family of companies provides financial services including trading, investing and banking for retail and institutional customers. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC). Bank 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, 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.

SOURCE E*TRADE FINANCIAL CORPORATION

For further information: For further information: E*TRADE FINANCIAL Media Relations Contact: Susan Hickey, (646) 521-4675, susan.hickey@etrade.com; E*TRADE FINANCIAL Investor Relations Contact: Brett Goodman, (646) 521-4406, brett.goodman@etrade.com

Organization Profile

E*TRADE FINANCIAL CORPORATION

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