Our ongoing investments in people, technology and our brand may cause our profit margin for the second half of 1999 to move back towards the levels we've achieved in recent years.

While it's not the primary reason, because the number is not enormous, we look carefully at every penny and nickel we spend.

It is really a wonderful thing. And as more people adapt to it, it's going to be a bigger thing.

The significant increase in 1999 planned expenditures is primarily due to the company's plans to enhance its systems capacity.

Total client assets were a record $1.246 trillion as of month-end January, up 17% percent from January 2005 and up 4% from December 2005.

Chairman Levitt is advocating a responsible approach to investing. Whether you are investing via the Internet, over the telephone or in person, you need to understand your choices and risks before acting.

Given rising public concerns over identity theft and cyber-fraud, we think adding a clear and simple guarantee will contribute to even greater peace of mind for our clients.

I'm immensely proud of the way the Schwab team pulled together in 2005 and delivered such outstanding performance.