Ameritrade Clarifies Outlook Statement.

Business Editors

OMAHA, Neb.--(BUSINESS WIRE)--Jan. 8, 2001

Ameritrade Holding Corporation (Nasdaq:AMTD), announced today that it expects revenues for the first fiscal quarter of 2001, ended December 2000, to be in the range of $127 million to $132 million. This revenue is expected to consist of commission revenue (including payment for order flow) of $80 million to $82 million, net interest revenue of $42 million to $45 million and other income of approximately $5 million. Ameritrade also announced that it expects loss per share for the first fiscal quarter to be in the range of ($0.12) to ($0.14), which is approximately even with the ($0.12) loss per share in the same quarter last year. To assist investors, Ameritrade has now included these revenue and loss per share estimates as separate line items in the Outlook Section of its website (at amtd.com under Investor Information).

About Ameritrade Holding Corporation (Nasdaq: AMTD)

Ameritrade Holding Corporation (www.amtd.com) is a pioneer in the online brokerage industry with a 25-year history of providing customers a self-directed approach to brokerage services. The award-winning company, through its broker dealer subsidiaries, provides brokerage and clearing services to self-directed individual consumer investors and to financial institutions.