Schwab Declares 10% Increase in Quarterly Dividend, Authorizes Additional Stock Repurchase SAN FRANCISCO, April 28 /PRNewswire-FirstCall/ -- The Board of Directors of The Charles Schwab Corporation at its meeting today declared a 10% increase to the quarterly dividend on the company's common stock to $0.022 a share. The dividend is payable May 23, 2005 to stockholders of record May 9, 2005. Separately, the Board today authorized repurchases of the Company's common stock totaling up to $300 million. The shares may be repurchased through open market or privately negotiated transactions based on prevailing market conditions. As of March 31, 2005, the Company had 1.32 billion weighted average common and common equivalent shares outstanding. The Board's action follows the completion of the repurchase authorization granted on December 9, 2004. Under that authorization, the Company repurchased approximately 27 million shares for $300 million by the end of first quarter of 2005. The Charles Schwab Corporation (NYSE / Nasdaq: SCH), through its operating subsidiaries, provides securities brokerage and financial services to individual investors and the independent investment advisors who work with them. With over 7 million individual investor accounts and more than $1 trillion in client assets, The Charles Schwab Corporation is one of the nation's largest financial services firms. Schwab provides a complete range of securities brokerage services and products, including an extensive marketplace of mutual funds; financial planning and investment advice; retirement plans; banking products and services; and referrals to a select group of independent fee-based investment advisors. Schwab is also the leading provider of custodial, operational and trading support for independent fee-based investment advisors. The corporation's operating subsidiaries include: Charles Schwab & Co., Inc. (member SIPC), U.S. Trust Corporation (member FDIC), CyberTrader(R), Inc. (member SIPC), and Charles Schwab Bank (member FDIC). These companies' Web sites can be reached at http://www.schwab.com/, http://www.ustrust.com/, http://www.cybertrader.com/, and http://www.schwabbank.com/, respectively. DATASOURCE: Charles Schwab CONTACT: media, Glen Mathison, +1-415-636-5448, or investors/analysts, Rich Fowler, +1-415-636-9869, both of Charles Schwab Web site: http://www.schwab.com/

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