E*TRADE Financial Announces Secondary Offering of 27.5M Shares of Common Stock by an Affiliate of Citadel

E*TRADE Financial Corporation ETFC today announced that Citadel Equity Fund Ltd., an affiliate of Citadel LLC, is offering 27,500,000 shares of E*TRADE's common stock in an underwritten offering. Closing of the offering is expected to occur on or about April 29, 2011, subject to customary closing conditions. E*TRADE will not receive any proceeds from the proposed offering.