These changes apply to each of the Company's over six million retail client accounts, regardless of an account's size or a client's trading activity.

"TD AMERITRADE is focused on furthering the goals of our independently-minded clients, realizing that their needs fluctuate due to life changes, market swings or even their confidence in any given investment," said Joe Moglia, chief executive officer. "We want our clients to manage their accounts and investments their way, and removing this barrier gives them one less thing to worry about."

In addition to the elimination of account maintenance fees, legacy TD Waterhouse clients will have, for the first time, access to client support 24-hours a day, seven-days a week, excluding market holidays. This is yet another step the Company is taking to create a simplified, yet comprehensive, experience for all clients.

The Company does not expect to update its guidance based on this change. More information regarding this change and the Company's long-term client strategy will be available at the TD AMERITRADE quarterly earnings call on Monday, April 24, 2006.