E*Trade adds Frederick Kanner to board of directors

Source: E*TRADE FINANCIAL Corporation

E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) today announced that Frederick W. Kanner, a partner at the law firm of Dewey & LeBoeuf LLP in New York City, has joined the Board of Directors of E*TRADE FINANCIAL Corporation effective April 2, 2008.

Mr. Kanner, 64, will be a member of the Company's Finance and Risk Oversight Committee and Nominating and Corporate Governance Committee.

"Fred's reputation as an expert in the field of finance and securities law is unparalleled," said Donald H. Layton, Chairman of the Board and Chief Executive Officer for E*TRADE FINANCIAL Corporation. "Fred's experience and recognized leadership in corporate finance, particularly as it relates to capital markets, will be indispensable as we continue to execute on E*TRADE's turnaround plan."

"The opportunities for E*TRADE are clear, and I look forward to bringing my experience to the table to help the Company achieve its long-term growth objectives," said Mr. Kanner.

Mr. Kanner joined Dewey & LeBoeuf in 1968. He has served as Chairman of the firm's Corporate Finance Group for more than 15 years. He has also served as a member of the firm's Management Committee for 20 years. Mr. Kanner is a recognized authority on capital markets financing, securities law and corporate governance.

Mr. Kanner earned his law degree from Georgetown University Law Center, where he was an Editor of the Georgetown Law Journal, and holds a bachelors degree in economics from the University of Virginia. He is currently serving as a Director on the board of National Benefit Life Insurance Company and the Lawyers' Committee for Civil Rights Under Law. Mr. Kanner is a member of the American Bar Association, the New York State Bar Association and the Association of the Bar of the City of New York, where he was a member of the Securities Regulation Committee.

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