Charles Schwab Canada Invests in Norstan Solution.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Jan. 20, 2000

Charles Schwab Canada, Co. has awarded Norstan, Inc. a contract to install industry-leading communication systems solutions in its Toronto and Montreal central locations and associated branch offices. The new systems will include leading-edge products and software from Siemens Communication and Information Networks, including telephone equipment, switches and a fully redundant customer call centre.

&uot;As we assessed our current operations and future growth, it became clear that we needed a system that would improve our current high-level of service to customers and position us for new applications,&uot; said Sean Church, Chief Operating Officer at Schwab Canada in Toronto. &uot;We chose the Norstan/Siemens solution because it offers superior customer call centre response and is compatible with other Charles Schwab systems installed across North America.&uot;

The new systems will be deployed completely in three phases. As part of phase one, a Siemens Information and Communication Networks HiCom 300E, Model 80, telephones and call centre were installed in Toronto in October. A second Model 80 and associated telephone equipment was installed in Montreal in November. In phases two and three, Siemens HiCom 150s will be installed in six branch offices starting this month with an expected completion date in April. The new, fully redundant call centre will ensure that investment professionals answer 100 percent of Charles Schwab customer calls quickly and effectively.

Headquartered in Toronto, Charles Schwab Canada, Co. is Canada's first full-choice brokerage firm, offering both discount and full-service investment services. Charles Schwab Canada is a wholly owned subsidiary of The Charles Schwab Corporation (NYSE: SCH), which is headquartered in San Francisco. Charles Schwab Canada, Co. is a member of the Investment Dealers Association, the Canadian Investor Protection Fund, the Winnipeg Stock Exchange and the Toronto Stock Exchange.

The Charles Schwab Corporation is one of the world's largest on-line brokers, serving over five million investor accounts with over US$400 billion in client assets through its international subsidiaries. Charles Schwab services include competitive commission rates with substantial savings on Web trades; personalized service from experienced multilingual investment professionals; unlimited access to company news and research for customers; and a broad range of investment products to diversify portfolios.

Norstan (NASDAQ: NRRD) is a global leader in technology services providing information technology, network and communication system solutions to business clients worldwide. Headquartered in the Twin Cities, Norstan's sales and consulting service offices are located in 80 cities throughout North America and Europe. Through its operating units Norstan is a single source provider for leading-edge technology products, world-class technology services and competitive financial offerings.

Norstan and associated product names are trademarks or registered trademarks of Norstan, Inc. in the United States and/or other countries. All other products and services mentioned in this document may be trademarks of the companies with which they are associated.