E*TRADE (ETFC) Reports April Activity

E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) announces its Monthly Activity Report for April. The Company's total retail customer assets increased 3.4% sequentially to $174.1 billion, despite a $399 million decline in customer cash and deposits predominately related to seasonal weakness in April. Total Daily Average Revenue Trades decreased 1.6% month over month.

Two noteworthy events impacted the Company's metrics in April, eliminating approximately $2.3 billion in customer assets and nearly 24,000 accounts. The Company successfully completed the sale of Retirement Advisors of America (RAA), a wholly-owned subsidiary, on April 11th. This transaction represents the first in a series of planned non-core subsidiary sales related to the Company's 2008 Turnaround Plan. In addition, the Company ended its relationship with two corporate clients within its stock plan administration business - one due to the merger of a client into a non-client company and the other due to the final processing of termination negotiated in the first quarter of 2007.[SM]

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