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MEMORANDUM
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TO: EMPLOYEES AND FORMER EMPLOYEES WHO HOLD NATIONAL DISCOUNT BROKERS
GROUP, INC. COMMON STOCK IN THE NATIONAL DISCOUNT BROKERS GROUP,
INC. 401(K) PLAN
FROM: FRANK E. LAWATSCH, JR., EXECUTIVE VICE PRESIDENT, SECRETARY & GENERAL
COUNSEL
DATE: OCTOBER 10, 1999
RE: PROXY CARD
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Enclosed is a proxy card which will allow you to vote shares of National
Discount Brokers Group, Inc. common stock credited to your 401(k) plan account.
Please complete the proxy card and return it to me at your earliest convenience.
Do not send the proxy card to our transfer agent. If you are a former employee,
I have enclosed an annual report and proxy statement. Thanks for your attention
to this matter. If you have any questions, call me at (201) 946-4482.
