Ameritrade Delivers Fourth Consecutive Record Quarter; Past Two Quarters' Earnings Top Entire Fiscal 2003; Operating Leverage Results in Net Income Up 700% Year Over Year.

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Ameritrade Delivers Fourth Consecutive Record Quarter; Past Two Quarters' Earnings Top Entire Fiscal 2003; Operating Leverage Results in Net Income Up 700% Year Over Year.

Business Editors

OMAHA, Neb.--(BUSINESS WIRE)--April 20, 2004

Ameritrade Holding Corporation (Nasdaq:AMTD) today announced results for the quarter ended March 26, 2004. The Company's performance, indicative of its highly efficient platform, once again represents the best in its history.

Second Quarter Highlights

-- Record net income of $81 million, or $0.19 per share

-- Record pre-tax income of $125 million

-- Record operating margin(1) of $155 million

-- Record EBITDA(1) of $131 million

-- Record net revenues of $247 million, up 67 percent over the

same quarter last year

-- Record average client trades per day of approximately 212,000

-- Record c...

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