Ameritrade Unveils New Options Platform and $0.75 Per Contract Pricing

Business Wire, March 9, 2005

OMAHA, Neb. -- With convenience and value a priority for its clients, Ameritrade Holding Corporation (Nasdaq:AMTD) today announced enhancements to its options trading platform while also lowering its options contract pricing from $1.50 to $0.75 per contract. The standard $10.99 online trade commission still applies.(1)

Enhancements to the options trading platform include:

--Streaming options data including watch lists, consolidated quotes from regional exchanges and customizable real-time displays of the most active option contracts;(2)

--Convenient order tickets for multi-leg orders such as spreads, straddles and covered calls;

--Easy to use option chains that allow the user to filter by option type, range or expiration;

--Direct routing, allowing clients to pick the exchange where they want their order sent;(3) and

--Data for option analysis, such as theoretical prices, implied volatilities and 'Greek' risk measures such as delta, gamma, theta and more.

"It's rare to find a company improving an offering while reducing its pricing," said Joe Moglia, chief executive officer. "This is just the initial stage of our new options platform, with plans to roll out additional components, such as trade triggers for options, over the coming months to provide an even more robust client experience."

This initiative will take effect by the end of March 2005.

About Ameritrade Holding Corporation

For nearly 30 years, Ameritrade Holding Corporation has provided investment services to self-directed individuals through its brokerage subsidiaries. Ameritrade develops and provides innovative products and services tailored to meet the varying investing and portfolio management needs of individual investors and institutional distribution partners. A brokerage industry leader, Ameritrade, Inc.,(4) a subsidiary of Ameritrade Holding Corporation, was the first financial services organization recognized by J.D. Power and Associates as a Certified Call Center. For more information, please visit www.amtd.com.

(1) Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Please see our Web site at www.ameritrade.com or contact an Ameritrade Client Services representative at 800-669-3900 for options disclosure documents. Carefully read these documents before investing in options. Options account applications are subject to Ameritrade review and approval. All applicants will not qualify.

Pricing change applies only to Ameritrade and Ameritrade Advisor Services divisions of Ameritrade, Inc.

(2) Access to real-time market data is conditioned on acceptance of the exchange agreements. Professional access differs.

(3) Direct routing allows you to select a market destination, however all orders are routed through Ameritrade, Inc. Market volatility, volume and system availability may delay account access and trade executions.

(4) Ameritrade, Inc., member NASD/SIPC

Ameritrade and Ameritrade logos are trademarks or registered trademarks of Ameritrade IP Company, Inc.