DBRS Releases Report on E*TRADE Financial Corporation

Dominion Bond Rating Service (DBRS) has today released a report on ETRADE Financial Corporation (ETRADE or the Company) that provides further detail on the recent upgrade of the Company’s ratings.

DBRS upgraded ETRADE’s Short-Term Instruments rating on September 15 by one notch to R-3, the lowest category of investment-grade short-term ratings under the recently revised DBRS short-term rating scale. The Short-Term Instruments rating for ETRADE’s banking subsidiary, E*TRADE Bank (the Bank), was also upgraded by one notch to the second lowest investment-grade short-term rating, which is now R-2 (low) under the revised scale.

DBRS had previously upgraded the Company’s long-term Issuer & Senior Debt rating to BB (high) and the Bank’s long-term Deposits & Senior Debt rating to BBB (low) on August 18, 2006.

The short-term and long-term rating actions concluded a review that was initiated on May 26, 2006. The trend for all ratings of E*TRADE and the Bank is Positive.

To obtain a copy of the full report or the August 18, 2006, and September 15, 2006, press releases, please click on the link below or contact us at info@dbrs.com.