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[WIT SOUNDVIEW LOGO] [E*TRADE LOGO]
FOR IMMEDIATE RELEASE
MEDIA CONTACTS
Jennifer DiClerico Heather Fondo Rich Horn
Wit SoundView E*TRADE Group, Inc. E*OFFERING
(212) 253-4481 (650) 331-5248 (415) 618-6627
[email protected] [email protected] [email protected]
WIT SOUNDVIEW AND E*TRADE TO EXPAND STRATEGIC ALLIANCE;
SPECIAL MEETING OF SHAREHOLDERS ADJOURNED
UNTIL OCTOBER 16, 2000
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NEW YORK, NY and MENLO PARK, CA, SEPTEMBER 26, 2000 - Wit SoundView
Group, Inc. (NASDAQ:WITC) and E*TRADE Group, Inc. (NASDAQ:EGRP) today
announced that they have expanded upon their Strategic Alliance. The
expanded Alliance, which resolves open issues raised among the parties to the
various agreements, includes increased duration of exclusivity, increased
volume of trading flow to Wit SoundView, and enhanced international
opportunities. To enable its shareholders to consider updated information
regarding E*OFFERING and the amendments, Wit SoundView will adjourn its
Special Meeting of Shareholders, scheduled for today, until October 16, 2000,
and supplemental proxy materials will be mailed shortly to Wit SoundView
shareholders.
On May 15, 2000, Wit SoundView entered into agreements with
E*OFFERING and E*TRADE providing for Wit SoundView to acquire E*OFFERING, and
for E*TRADE to make Wit SoundView its exclusive source of IPOs, follow-on
offerings and other investment banking products. In addition, E*TRADE agreed
to acquire the brokerage accounts of Wit Capital. Wit Capital brokerage
accounts will transfer to E*TRADE on September 29, 2000, as scheduled.
(more)
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ABOUT WIT SOUNDVIEW
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WIT SOUNDVIEW GROUP, INC. (NASDAQ: WITC) IS THE LARGEST ONLINE
INVESTMENT BANKING GROUP FOCUSED EXCLUSIVELY ON THE INTERNET AND TECHNOLOGY
SECTORS. WIT SOUNDVIEW OFFERS A STRONG COMPLEMENT OF INVESTMENT BANKING
SERVICES, FROM INTERNET-STRATEGIC ADVISORY, VENTURE CAPITAL AND PRIVATE
EQUITY PLACEMENTS, TO PUBLIC OFFERINGS AND M&A ADVISORY. WITH ONE OF THE
LARGEST RESEARCH TEAMS IN THE SECTOR, WIT SOUNDVIEW PRODUCES COMPREHENSIVE
SELL-SIDE RESEARCH ON OVER 285 INTERNET AND TECHNOLOGY COMPANIES, DEVELOPED
FOR OUR ONLINE AND INSTITUTIONAL AUDIENCES. WIT SOUNDVIEW IS RECOGNIZED AS
ONE OF THE FIRST FIRMS TO BRING ONLINE INDIVIDUAL INVESTORS DIRECTLY INTO THE
CAPITAL FORMATION PROCESS AND CONTINUES TO LEVERAGE THE INTERNET TO
REVOLUTIONIZE THE WAY IN WHICH ISSUERS AND INVESTORS COMMUNICATE. FOR MORE
INFORMATION, PLEASE SEE www.witsoundview.com. MEMBERS NASD/SIPC.
ABOUT E*TRADE
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E*TRADE IS A GLOBAL LEADER IN ONLINE PERSONAL FINANCE SERVICES
OFFERING VALUE-ADDED INVESTING, BANKING AND RESEARCH FEATURES, PREMIUM
CUSTOMER SERVICE AND A REDUNDANT, PROPRIETARY STATELESS ARCHITECTURE-SM-
INFRASTRUCTURE. IN ADDITION TO THE U.S., E*TRADE PRESENTLY SERVES CUSTOMERS
THROUGH BRANDED WEB SITES IN NORWAY, DENMARK, KOREA, JAPAN, THE U.K., SWEDEN,
FRANCE, AUSTRALIA, NEW ZEALAND AND CANADA. E*TRADE SECURITIES, INC. (MEMBER
OF NASD/SIPC) AND ITS PARENT COMPANY, E*TRADE GROUP, INC. HAVE OFFICES IN
NORTHERN CALIFORNIA AND IN OTHER MAJOR BUSINESS CENTERS IN THE U.S. AND
WORLDWIDE. E*TRADE IS A REGISTERED TRADEMARK OF E*TRADE SECURITIES, INC.
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