E*TRADE Financial Corporation Addresses Stockholder Proposals

E*TRADE Financial Corporation ETFC today announced that its Board of Directors formed a new special committee, composed entirely of independent directors appointed within the last three years, with respect to the previously announced review of strategic alternatives. The committee, which is composed of Frederick W. Kanner, Joseph L. Sclafani and Joseph M. Velli, has retained Goldman, Sachs & Co. GS to conduct the strategic review. The committee will facilitate and manage the strategic review process in collaboration with the full Board of Directors, which will act as a whole in making all decisions regarding the future direction of the company. The decision and actions taken by the new special committee are unanimously supported by all independent members of the Board.