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Schwab Announces Security Guarantee

Schwab Announces Security Guarantee

SAN FRANCISCO, Feb. 22 /PRNewswire-FirstCall/ -- The Charles Schwab Corporation announced today a security guarantee covering 100% of any account losses that arise from unauthorized account activity. The guarantee is effective immediately and covers clients of the entire Schwab family of companies. Details about the guarantee are available at http://www.schwab.com/guarantee.

"It has always been our practice to make clients whole in cases of unauthorized account activity. Our new security guarantee turns that historic practice into a public promise," said Charles R. Schwab, founder and CEO, in announcing the guarantee. "We have a broad array of internal security systems and measures in place that protect the safety of client accounts at Schwab. Given rising public concerns over identity theft and cyber-fraud, we think adding a clear and simple guarantee will contribute to even greater peace of mind for our clients."

A guarantee provides a safety net, but everyone has a role to play in security protection. Schwab clients and consumers at large are encouraged to review the educational information on privacy and security on schwab.com to see what they can do to have a more secure experience in all their transactions, whether online or through more traditional channels, at Schwab or elsewhere.

Educational materials highlighting steps people can take to make their online activities more secure, as well as information on Schwab's own security practices, are available at Schwab's Privacy Information center at http://www.schwab.com/privacy.

About Charles Schwab

The Charles Schwab Corporation is a leading provider of financial services, with more than 325 offices, 7.1 million client accounts, and $1.25 trillion in client assets. Through its operating subsidiaries, the Company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC), offers a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Schwab Institutional division. The Charles Schwab Bank, N.A. (member FDIC) provides banking and mortgage services and products. The Company's other operating subsidiaries include U.S. Trust Corporation (member FDIC) and CyberTrader(R), Inc. (member SIPC). More information is available at http://www.aboutschwab.com/. (0206-5976)

First Call Analyst:
FCMN Contact: [email protected]

Charles Schwab

CONTACT: media, Sarah Bulgatz, +1-415-636-5940, or investors/analysts,
Rich Fowler, +1-415-636-9869, both of Charles Schwab

Web site: http://www.schwab.com/

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