Charles Schwab (SCHW) Releases May Activity Report, Announces Lower Pricing

Charles Schwab (Nasdaq: SCHW) released its Monthly Market Activity Report today: Net new assets brought to the Company by new and current clients in May 2006 totaled $9.3 billion, Total client assets were $1.274 trillion as of month-end May, up 17% from May 2005 and down 2% from April 2006, and Client daily average trades, which include daily average revenue trades (DART), Schwab Investor Services asset-based trades and Schwab Institutional(R) asset-based trades, were 302.6 thousand in May 2006, up 59% from May 2005 and up 3% from April 2006.

In Schwab Investor Services, the company will be lowering and simplifying prices for equity, option, mutual fund and bond transactions, all effective July 1. As a result, no retail client will pay more than $12.95 for an online equity trade*, while many clients will continue to enjoy a flat rate of $9.95.

The company is also eliminating a number of service fees -- including charges for ATM withdrawals, various checking services and electronic bill payments -- and expanding access to research, market insight and portfolio evaluation tools that were previously only available to clients with larger asset balances

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