U.S. Bancorp Piper Jaffray Delivers Analysis of Online Trading Results for First Quarter 2000

Business Wire, May 5, 2000

Some or all of the following hedges may apply. (a) U.S. Bancorp Piper Jaffray, Inc., makes a market in the company's securities. (b) A U.S. Bancorp Piper Jaffray, Inc., officer, director or other employee is a director and/or officer of the company. (c) Within the past three years, U.S. Bancorp Piper Jaffray, Inc., was managing underwriter of an offering of, or dealer manager of a tender offer for, the company's securities of an affiliate. Additional information is available upon request. Not FDIC Insured. No Bank Guarantee. May lose value.

This material is based on data obtained from sources we deem to be reliable; it is not guaranteed as to accuracy and does not purport to be complete. This information is not intended to be used as the primary basis of investment decisions. Because of individual client requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. It is not a representation by us or an offer or the solicitation of an offer to sell or buy any security. Further, a security described in this release may not be eligible for solicitation in the states in which the client resides. U.S. Bancorp Piper Jaffray individual officers, employees, or members of their families may own securities mentioned and may purchase or sell those securities in the open market or otherwise. In the United Kingdom, this report may only be distributed or passed on to persons of the kind described in Article 11 (3) of the Financial Services Act of 1986 (Investment Advertisements) (Exemptions) Order 1996 (as amended by the Financial Services Act 1986 Investment Advertisements) (Exemptions Order 1997).

Nondeposit investment products are not insured by the FDIC, are not deposits or other obligations of or guaranteed by U.S. Bank National Association or its affiliates, and involve investment risks, including possible loss of the principal amount invested. Securities products and services are offered through U.S. Bancorp Piper Jaffray Inc., member SIPC and NYSE, Inc., a subsidiary of U.S. Bancorp.

NOTE TO EDITORS: The company name E-Trade has an asterisk symbol in place of the hypen. This symbol may not transfer properly in some sytems.