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November 2002

November 2002. Safe Harbor Statement.

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November 2002

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  1. November 2002

  2. Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws. In particular, any statements or projections regarding our future synergies, earnings, costs, operating margins or advertising expenses are forward-looking statements. These statements reflect only our current expectations and are not guarantees of future performance or results. These statements involve risks, uncertainties and assumptions that could cause actual results or performance to differ materially from those contained in the forward-looking statements. These risks, uncertainties and assumptions include the successful integration of the operations of Ameritrade and Datek, operational cost savings resulting from the merger of Ameritrade and Datek, market fluctuations and changes in client trading activity, general economic conditions, increased competition, regulatory and legal matters and uncertainties and other risk factors described in our Registration Statement on Form S-4 (Registration No. 333-88632) and our latest Annual Report on Form 10-K. These forward-looking statements speak only as of the date on which the statements were made. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

  3. Online Brokerage Best Use of the Web =

  4. = Best Use of the Web

  5. When Does The Internet Transform An Industry? When it simultaneously improves both the client’s experience and the service provider’s business model

  6. What Are The Critical Success Factors? • Technology advantage vs. traditional players • 24 x 7 x 365 convenience and reliability • Ease of use & functionality • Lower cost model delivers value to clients • Focus = Client • No compromises • No conflicts • No excuses • Scale

  7. Trades Clients Revenue Scalability Better Client Experience R&D Services & Products at Low Cost Innovation & Operational Efficiency

  8. Ameritrade + Datek = #1 Online Broker

  9. #1: Online Equity Trades 3Q CY2002 Average Daily Equity Trades Source: Company reports

  10. #1: Net New Account Growth (24 Months) 1.6 Million 130% { Approaching 3 Million Clients 733K46% { 876K Twenty-four months ended 9/30/02. Source: Derived from company reports

  11. #1: Account Quality Average online equity trades per account per year Twelve months ended 9/30/02 Source: Derived from company reports

  12. #1: Operating Margin Operating Expense excludes Advertising Twelve months ended 9/30/02 Source: Derived from company reports

  13. Expected Synergies In Millions of Dollars, except EPS

  14. Record Year (EPS from Ongoing Operations)

  15. Ownership % Ownership Ricketts Family (Board) 28% Bain Capital (Board) 12% TA Associates (Board) 10% Silver Lake Partners (Board) 8% Datek Founders 6% Deutsche Bank 5% Groupe Arnault 4% Advent 3% Executive Officers 2% 77%

  16. Share Buy Back Program • 40 million shares over two years • 5 million shares already purchased • Executive & Director Purchases • 1.24 million shares

  17. Clean Balance Sheet

  18. = Great Levered Play on a Market Turnaround

  19. www.amtd.com

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