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Schwab Announces Plans for First Cross-Platform Wireless Trading Initiative

First Brokerage Firm to Join Industry Group Setting Global Wireless Standards

SAN FRANCISCO, Aug. 19 /PRNewswire/ -- Charles Schwab & Co. (NYSE: SCH), the nation's largest online broker, today announced that it has become the first brokerage firm to join the Wireless Application Protocol Forum. In addition, Schwab has also formed its own Wireless Research and Development group within the technology organization, which will support new customer applications of wireless technology and the formation of key alliances.

As part of this initiative, Schwab announced that it has entered into a development relationship with Aether Technologies, the leading wireless integrator and service provider, with plans for a new cross-platform, wireless trading service that will be introduced by the end of 1999.

"Like the Web, wireless is an exciting new development that brings the worlds of technology and investing together," said Gideon Sasson, president of Schwab's Electronic Brokerage Division. "Our participation in the WAP Forum and our key industry alliances will ensure that we will be at the forefront in delivering products and services that enhance the customer experience at Schwab," Sasson added.

The WAP Forum is the global industry association comprising over 130 of the world's leading electronic and technology firms who are defining the future of wireless communications and its applications. Members include Ericsson, Motorola, Nokia, AT&T, IBM, Phone.com, Microsoft, Cable and Wireless and Intel, that have collectively developed the world standard for wireless information and telephony services on digital mobile phones and other wireless terminals.

Schwab plans to introduce its new wireless investing product to its Signature Services active investor customers by year-end. The service will offer a selection of devices that give Schwab customers the ability to chose from a variety of pagers, PDAs (hand-held computers) and cellular phones. Additionally, Schwab's service will leverage a variety of network service providers to give its customers more coverage options.

About Aether
Aether is a one-stop global provider of wireless software and services connecting people to the information they need, wherever and whenever they need it. Aether allows individuals to receive real-time data on handheld wireless devices, using virtually any kind of wireless data network. Aether's ability to deliver real-time, secure and reliable wireless solutions comes through proven expertise in wireless system engineering, software tools and services, wireless network operations, product fulfillment and customer support. For more information, visit the Aether Web site at http://www.aethertech.com.

About Charles Schwab
Charles Schwab & Co., Inc. serves 6.2 million active accounts with $592 billion in customer assets. Schwab currently has 2.8 million active online accounts with $251 billion in customer assets. Schwab provides a full-service investing experience to customers through a multi-dimensional offering of the Internet, 310 branch offices, speech recognition and touch-tone telephone technologies, multilingual and international technologies, and direct access to professionals day or night.

Schwab has won numerous awards for its leadership in technology, including the Global Information Infrastructure Award for the Top Commerce site, the CIO 100 Award, PC World's 1999 World Class Award for the best Web Brokerage Site and has been recognized by Business 2.0 as one of the 100 Hottest Companies on the Net. Schwab has been a pioneer in online investing and has been a leader in customer technologies for 15 years. Member SIPC/NYSE. (0099-3230)

SOURCE Charles Schwab & Co., Inc.
Web Site: http://www.schwab.com