Exhibit 99.1

Contacts:

MEDIA:	INVESTORS/ANALYSTS:
Alison Wertheim	Rich Fowler
Charles Schwab	Charles Schwab
Phone: 415-636-5812	Phone: 415-636-9869

SCHWAB REPORTS QUARTERLY RESULTS

NET NEW ASSETS TOTAL $21.6 BILLION

SAN FRANCISCO, July 18, 2006 – The Charles Schwab Corporation announced today that its net income for the quarter ended June 30, 2006 was $251 million. In comparison, the company reported net income of $243 million for the first quarter of 2006 and net income of $186 million for the second quarter of 2005. For the first half of 2006, the Company’s net income was $494 million, compared with $331 million earned during the same period in 2005.

	Three Months Ended —June 30,—						% Change		Six Months Ended —June 30,—						% Change
Financial Highlights	2006			2005					2006			2005
Net revenues (in millions)	$	1,311		$	1,087		21	%	$	2,590		$	2,146		21	%
Net income (in millions)	$	251		$	186		35	%	$	494		$	331		49	%
Diluted earnings per share	$	.19		$	.14		36	%	$	.38		$	.25		52	%
Pre-tax profit margin(1)		31.4	%		27.9	%				31.3	%		25.6	%
Return on stockholders’ equity		22	%		17	%				22	%		15	%

⁽¹⁾ From continuing operations.

Chairman and CEO Charles Schwab commented, “During the second quarter, economic news was mixed and the broad market indices declined. Throughout this more challenging environment, we remained intent on listening to our clients and responding to their needs. This ongoing focus supported continued strength in our client metrics – we opened 173,000 new brokerage accounts and clients brought $22 billion in net new assets to the company during the period, up 20% and 93%, respectively, from year-ago levels. Total client assets reached $1.278 trillion as of June 30, 2006, 16% higher than month-end June 2005. Our success in building stronger client relationships is also reflected in our financial performance – net revenues were up 21% versus the second quarter of 2005 and earnings were up 35%.”

CFO Chris Dodds said, “Continued strength in client asset flows helped push our asset-based and other revenues to a record $1.1 billion for the second quarter, while overall net revenues reached just over $1.3 billion. On the expense front, advertising and market development costs increased 37% versus the second quarter of 2005 as we invested in our national “Talk to Chuck™” campaign. Compensation and benefits expense rose by 16% as we made additional year-to-date bonus and long-term incentive plan accruals to reflect our above-plan performance thus far in 2006. As a percentage of net revenues, however, compensation and benefits declined to 40% versus 42% a year ago. All other expenses grew just 9% in the aggregate, enabling us to achieve a record pre-tax profit margin of 31.4% for the second quarter. On the capital management front, we limited our outlays for capital expenditures to $36 million and repurchased $292 million of our common stock during the quarter, which helped us achieve a 22% return on equity.”

Business highlights for the second quarter (data as of quarter-end unless otherwise noted):

Schwab Investor Services Business (includes Individual Investor and Corporate and Retirement Services businesses)

• Client assets enrolled in Schwab advice offers = $43.6 billion, up 34% year-over-year.

• Net new assets into Schwab Corporate and Retirement Services retirement plan offerings during the quarter = $1.4 billion.

• Total client assets in employer-sponsored retirement plans at Schwab = $128 billion, up 20% year-over-year.

• Reduced the top price point for online equity trades from $19.95 to $12.95; simplified and lowered pricing for a variety of other trades; eliminated more than a dozen service fees; and eliminated or reduced certain account fees.

• Launched a Branch Extension Team to provide personalized relationships to selected clients with less than $250,000 in assets at Schwab and introduced a relationship-based commission pricing approach that takes into consideration a client’s total relationship with Schwab, including their combined bank (mortgage, HELOC, credit card) and brokerage balances.

Schwab Institutional^® Business

• Total client assets associated with Schwab Institutional = $445 billion, up 22% year-over-year.

• Client assets at Schwab associated with IA referral programs = $30.9 billion, up 15% year-over-year.

• Increased the number of investment strategies available to advisors and their clients through the Managed Account Access program by 26%. Managed Account Access now includes 107 strategies across 34 firms.

• Released a new version of the PortfolioCenter^® portfolio management system, to provide advisors with enhanced data-entry and reporting capabilities.

U.S. Trust Business

• Total client assets at U.S. Trust = $155 billion, up 11% year-over-year; assets under management = $93 billion, up 7% year-over-year.

• Net new client assets during the quarter = $3.0 billion.

• Client assets at U.S. Trust associated with the Schwab referral program = $6.4 billion, up 27% year-over-year.

• Leveraged CTC Consulting’s alternative investment expertise to develop the Hedge Fund Solutions program, which utilizes a concentrated fund of funds structure to provide clients with tailored portfolios that can emphasize particular strategies, regions and themes.

• Launched the Capital Markets Advisory division to provide clients with advice and transaction services relating to custom hedging, derivatives, foreign exchange and structured products.

Products and Infrastructure

• Total client assets held in third-party Mutual Fund OneSource^® funds = $144 billion, up 15% year-over-year.

• Total client assets held in proprietary funds (Schwab Funds^®, Excelsior^®, and Laudus Funds™) = $187 billion, up 20% year-over-year.

• Total client assets held in fixed income securities = $168 billion, up 15% year-over-year.

• For Charles Schwab Bank, N.A.:

• Balance sheet assets = $9.1 billion, up 18% from the prior quarter.

• Outstanding mortgage and home equity loans = $2.1 billion.

• First mortgage originations during the quarter = $323 million.

• Introduced the Laudus Rosenberg International Discovery Fund, which focuses on small and mid-cap stocks in both developed and emerging markets; also restructured an existing Laudus fund into the Schwab Viewpoints Fund, which is designed to use a multi-manager strategy and Schwab’s own market perspectives to seek both growth and income in various asset classes and investment styles within a single asset-allocation fund.

The Charles Schwab Corporation (NASDAQ: SCHW) is a leading provider of financial services, with more than 330 offices and 6.8 million client brokerage accounts, 521,000 corporate retirement plan participants, 178,000 banking accounts, and $1.3 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC), offers a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Schwab Institutional division. The Charles Schwab Bank, N.A. (member FDIC) provides banking and mortgage services and products. The company’s other operating subsidiaries include U.S. Trust Corporation (member FDIC) and CyberTrader^®, Inc. (member SIPC). More information is available at www.aboutschwab.com.

###

THE CHARLES SCHWAB CORPORATION

Consolidated Statements of Income

(In millions, except per share amounts)

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2006			2005			2006			2005
Net Revenues
Asset management and administration fees	$	642		$	552		$	1,260		$	1,099
Interest revenue		653			464			1,258			876
Interest expense		(235	)		(167	)		(447	)		(305	)
Net interest revenue		418			297			811			571
Trading revenue		211			187			438			394
Other		40			51			81			82
Total net revenues		1,311			1,087			2,590			2,146
Expenses Excluding Interest
Compensation and benefits		527			455			1,063			909
Occupancy and equipment		82			81			161			163
Professional services		75			57			143			119
Depreciation and amortization		47			51			95			105
Communications		51			48			100			99
Advertising and market development		59			43			109			79
Restructuring charges		—			—			—			21
Other		58			49			108			102
Total expenses excluding interest		899			784			1,779			1,597
Income from continuing operations before taxes on income		412			303			811			549
Taxes on income		(163	)		(117	)		(320	)		(212	)
Income from continuing operations		249			186			491			337
Gain (loss) from discontinued operations, net of tax		2			—			3			(6	)
Net Income	$	251		$	186		$	494		$	331
Weighted-Average Common Shares Outstanding — Diluted		1,294			1,314			1,295			1,320
Earnings Per Share — Basic
Income from continuing operations	$	.20		$	.14		$	.38		$	.26
Gain (loss) from discontinued operations, net of tax		—			—			.01			(.01	)
Net income	$	.20		$	.14		$	.39		$	.25
Earnings Per Share — Diluted
Income from continuing operations	$	.19		$	.14		$	.38		$	.26
Gain (loss) from discontinued operations, net of tax		—			—			—			(.01	)
Net income	$	.19		$	.14		$	.38		$	.25
Dividends Declared Per Common Share	$	.030		$	.022		$	.055		$	.042

See Notes to Consolidated Statements of Income and Financial and Operating Highlights.

THE CHARLES SCHWAB CORPORATION

Financial and Operating Highlights

(Unaudited)

	2006						2005												2004
(In millions, except per share amounts and as noted)	Second   Quarter			First   Quarter			Fourth   Quarter			Third   Quarter			Second   Quarter			First   Quarter			Fourth   Quarter			Third   Quarter			Second   Quarter
Net Revenues
Asset management and administration fees	$	642		$	618		$	586		$	584		$	552		$	547		$	544		$	523		$	517
Net interest revenue		418			393			355			331			297			274			258			245			224
Trading revenue		211			227			198			187			187			207			218			185			261
Other		40			41			41			36			51			31			40			47			32
Total net revenues		1,311			1,279			1,180			1,138			1,087			1,059			1,060			1,000			1,034
Expenses Excluding Interest
Compensation and benefits		527			536			512			481			455			454			447			455			493
Occupancy and equipment		82			79			85			83			81			82			90			97			100
Professional services		75			68			68			66			57			62			64			62			61
Depreciation and amortization		47			48			51			52			51			54			59			58			53
Communications		51			49			47			46			48			51			53			53			56
Advertising and market development		59			50			60			39			43			36			33			43			46
Restructuring charges (1)		—			—			—			(4	)		—			21			100			112			2
Other		58			50			50			46			49			53			54			48			54
Total expenses excluding interest		899			880			873			809			784			813			900			928			865
Income from continuing operations before taxes on income		412			399			307			329			303			246			160			72			169
Taxes on income		(163	)		(157	)		(120	)		(123	)		(117	)		(95	)		(58	)		(26	)		(62	)
Income from continuing operations		249			242			187			206			186			151			102			46			107
Gain (loss) from discontinued operations, net of tax		2			1			—			1			—			(6	)		(49	)		(87	)		6
Net Income (Loss)	$	251		$	243		$	187		$	207		$	186		$	145		$	53		$	(41	)	$	113
Basic earnings (loss) per share	$	.20		$	.19		$	.15		$	.16		$	.14		$	.11		$	.04		$	(.03	)	$	.08
Diluted earnings (loss) per share	$	.19		$	.19		$	.14		$	.16		$	.14		$	.11		$	.04		$	(.03	)	$	.08
Dividends declared per common share	$	.030		$	.025		$	.025		$	.022		$	.022		$	.020		$	.020		$	.020		$	.020
Weighted-average common shares outstanding - diluted		1,294			1,296			1,298			1,308			1,314			1,326			1,348			1,364			1,373
Performance Measures
Net revenue growth (decline) over prior year’s quarter		21	%		21	%		11	%		14	%		5	%		(4	%)		—			—			6	%
Pre-tax profit margin from continuing operations		31.4	%		31.2	%		26.0	%		28.9	%		27.9	%		23.2	%		15.1	%		7.2	%		16.3	%
Return on stockholders’ equity (2)		22	%		21	%		17	%		19	%		17	%		13	%		5	%		(3	%)		10	%
Financial Condition (at quarter end)
Cash and investments segregated (in billions)	$	11.7		$	14.5		$	15.3		$	15.5		$	17.4		$	18.5		$	19.0		$	19.6		$	20.5
Receivables from brokerage clients (in billions)	$	10.9		$	10.7		$	10.8		$	10.4		$	9.9		$	9.7		$	9.8		$	9.2		$	9.3
Loans to banking clients (in billions)	$	8.9		$	8.6		$	8.5		$	8.2		$	7.6		$	7.1		$	6.8		$	6.2		$	6.8
Total assets (in billions)	$	46.9		$	47.6		$	47.4		$	45.4		$	46.5		$	46.4		$	47.1		$	45.9		$	47.3
Deposits from banking clients (in billions)	$	15.7		$	14.9		$	14.1		$	12.9		$	12.0		$	11.4		$	11.1		$	10.2		$	10.0
Payables to brokerage clients (in billions)	$	21.5		$	23.4		$	24.7		$	23.9		$	25.4		$	26.4		$	27.2		$	25.9		$	26.9
Long-term debt (in millions)	$	466		$	509		$	514		$	537		$	565		$	577		$	585		$	611		$	645
Stockholders’ equity (in millions)	$	4,602		$	4,632		$	4,450		$	4,349		$	4,318		$	4,275		$	4,386		$	4,555		$	4,732
Other
Full-time equivalent employees (at quarter end, in thousands)		14.1			14.1			14.0			13.7			13.6			13.9			14.2			14.8			16.3
Annualized net revenues per average full-time equivalent employee (in thousands)	$	373		$	364		$	339		$	335		$	317		$	302		$	294		$	261		$	251
Capital expenditures - cash purchases of equipment, office facilities, and property, net (in millions) (3)	$	(26	)	$	23		$	23		$	25		$	29		$	23		$	43		$	66		$	51
Clients’ Daily Average Trades (in thousands)
Revenue trades (4)		250.7			275.2			229.5			194.7			176.5			191.3			177.7			128.1			142.2
Schwab Investor Services (5)		18.1			20.6			14.5			14.2			11.3			10.0			9.4			7.8			6.8
Schwab Institutional®		15.4			13.3			11.2			12.7			10.2			9.9			8.7			8.2			8.4
Total		284.2			309.1			255.2			221.6			198.0			211.2			195.8			144.1			157.4
Active Trader Daily Average Revenue Trades (in thousands) (4, 6)		158.6			172.8			142.5			115.6			101.8			106.0			98.0			66.1			72.5
Average Revenue Per Revenue Trade (4)	$	13.47		$	13.39		$	13.66		$	15.05		$	16.28		$	17.95		$	19.32		$	22.96		$	30.06

⁽¹⁾ Restructuring charges include costs relating to workforce, facilities, systems hardware, software, and equipment reductions.

⁽²⁾ Calculated based on annualized quarterly net income (loss) and average stockholders’ equity for the quarter.

⁽³⁾ Capital expenditures in the first quarter of 2006 are presented net of proceeds of $62 million from the sale of a data center and in the fourth quarter of 2005 are presented net of proceeds of $17 million from the sale of equipment.

⁽⁴⁾ Includes all client trades (both individuals and institutions) that generate either commission revenue or revenue from principal markups (i.e., fixed income); also known as DART.

⁽⁵⁾ Includes eligible trades placed by individual investors enrolled in Schwab Private Client^TM and advised investing offers.

⁽⁶⁾ Active Trader includes all CyberTrader clients and Schwab clients enrolled in Schwab’s Active Trader offer. Active Trader DART is included in total DART above.

See Notes to Consolidated Statements of Income and Financial and Operating Highlights.

THE CHARLES SCHWAB CORPORATION

Notes to Consolidated Statements of Income and Financial and Operating Highlights

(Unaudited)

The Company

The consolidated statement of income and financial and operating highlights include The Charles Schwab Corporation and its majority-owned subsidiaries (collectively referred to as the Company), including Charles Schwab & Co., Inc., U.S. Trust Corporation, and CyberTrader, Inc. The consolidated statement of income and financial and operating highlights should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2005. Certain prior periods’ revenues and expenses have been reclassified to conform with the current period presentation. All material intercompany balances and transactions have been eliminated.

**********

THE CHARLES SCHWAB CORPORATION

Growth in Client Assets and Accounts

(Unaudited)

	2006						2005												2004
(In billions, at quarter end, except as noted)	Second   Quarter			First   Quarter			Fourth   Quarter			Third   Quarter			Second   Quarter			First   Quarter			Fourth   Quarter			Third   Quarter			Second   Quarter
Assets in client accounts
Schwab One®, other cash equivalents and deposits from banking clients	$	36.6		$	37.8		$	38.4		$	36.3		$	37.0		$	37.5		$	37.2		$	35.7		$	36.5
Proprietary funds (Schwab Funds®, Excelsior®, and Laudus FundsTM):
Money market funds		125.3			119.6			115.6			111.2			109.7			112.0			111.8			114.0			115.0
Equity and bond funds		61.9			56.9			51.3			50.1			46.3			46.4			43.1			38.4			37.5
Total proprietary funds		187.2			176.5			166.9			161.3			156.0			158.4			154.9			152.4			152.5
Mutual Fund Marketplace® (1):
Mutual Fund OneSource®		144.3			147.9			135.0			130.7			125.1			122.2			127.8			114.5			115.2
Mutual fund clearing services		68.2			65.7			60.2			57.3			51.2			47.1			44.2			38.1			33.9
Other third-party mutual funds		152.8			156.6			142.7			138.1			126.4			120.3			114.4			103.6			101.7
Total Mutual Fund Marketplace		365.3			370.2			337.9			326.1			302.7			289.6			286.4			256.2			250.8
Total mutual fund assets		552.5			546.7			504.8			487.4			458.7			448.0			441.3			408.6			403.3
Equity and other securities (1)		530.8			544.2			511.8			500.8			472.6			459.6			472.0			429.2			437.0
Fixed income securities		168.4			162.9			154.6			151.2			147.0			141.7			140.5			136.5			130.6
Margin loans outstanding		(10.5	)		(10.4	)		(10.4	)		(10.2	)		(9.7	)		(9.6	)		(9.8	)		(9.1	)		(9.1	)
Total client assets	$	1,277.8		$	1,281.2		$	1,199.2		$	1,165.5		$	1,105.6		$	1,077.2		$	1,081.2		$	1,000.9		$	998.3
Net growth in assets in client accounts (for the quarter ended)
Net new client assets (2)	$	21.6		$	28.1		$	24.3		$	23.4		$	11.2		$	16.1		$	16.8		$	13.0		$	6.7
Net market gains (losses)		(25.0	)		53.9			9.4			36.5			17.2			(20.1	)		63.5			(10.4	)		(4.7	)
Net growth (decline)	$	(3.4	)	$	82.0		$	33.7		$	59.9		$	28.4		$	(4.0	)	$	80.3		$	2.6		$	2.0
U.S. Trust client assets (3)	$	154.9		$	155.7		$	148.5		$	146.9		$	139.8		$	138.8		$	141.1		$	137.3		$	137.0
New brokerage accounts (in thousands, for the quarter ended)		173			188			153			129			144			151			134			114			139
Active client accounts (in thousands) (4)
Brokerage		6,759			6,725			7,120			7,138			7,202			7,287			7,321			7,389			7,474
Banking		178			175			N/A			N/A			N/A			N/A			N/A			N/A			N/A
Corporate Retirement Plan Participants		521			512			N/A			N/A			N/A			N/A			N/A			N/A			N/A

⁽¹⁾ Excludes all proprietary money market, equity, and bond funds.

⁽²⁾ Includes inflows of $3.0 billion in the third quarter of 2005 at U.S. Trust related to two Special Fiduciary business clients. Includes a one-time special dividend from Microsoft Corporation of $1.2 billion in the fourth quarter of 2004. Includes individual inflows (outflows) of $2.1 billion and ($6.0) billion in the third and second quarters of 2004, respectively, related to mutual fund clearing clients.

⁽³⁾ Included in total client assets above.

⁽⁴⁾ Periodically, the Company reviews its active account base. The Company has identified over 400,000 brokerage accounts that meet its current definition of active, but had little or no balances and no likelihood of further activity. Effective March 31, 2006, the Company has removed these accounts from its active brokerage account total. Amounts for periods prior to 2006 were not adjusted. While the Company has adjusted its definition of an active brokerage account to exclude certain zero and minimal balance accounts, the basic definition remains “accounts with balances or activity within the preceding 8 months.” In addition, to present a more comprehensive view of its client relationships, the Company has added disclosures for its banking accounts (i.e., deposits, credit cards, HELOCs, mortgages, and other loans) and Corporate Retirement Plan Participants. Amounts for periods prior to 2006 are not available.

The Charles Schwab Corporation Monthly Market Activity Report For June 2006

																									% change
	2005 Jun		Jul	Aug		Sep		Oct		Nov		Dec		2006 Jan	Feb		Mar		Apr		May		Jun		Mo.		Yr.
Change in Client Assets (in billions of dollars)
Net New Assets (1)	6.2		6.3	10.3		6.8		7.6		7.5		9.2		9.5	10.6		8.0		4.6		9.3		7.7		(17	%)	24	%
Net Market Gains (Losses)	7.1		30.4	(2.8	)	8.9		(21.1	)	28.4		2.1		37.5	(1.7	)	18.1		13.7		(34.4	)	(4.3	)
Total Client Assets (at month end, in billions of dollars)	1,105.6		1,142.3	1,149.8		1,165.5		1,152.0		1,187.9		1,199.2		1,246.2	1,255.1		1,281.2		1,299.5		1,274.4		1,277.8		—		16	%
New Brokerage Accounts (in thousands)	41		39	47		43		46		47		60		63	56		69		73		52		48		(8	%)	17	%
Active Client Accounts (2) (at month end, in thousands)
Brokerage	7,202		7,182	7,177		7,138		7,117		7,115		7,120		6,693	6,707		6,725		6,753		6,759		6,759		—		(6	%)
Banking	N/A		N/A	N/A		N/A		N/A		N/A		N/A		169	170		175		175		177		178		1	%	N/A
Corporate Retirement Plan Participants	N/A		N/A	N/A		N/A		N/A		N/A		N/A		496	506		512		519		522		521		—		N/A
Market Indices (at month end)
Dow Jones Industrial Average	10,275		10,641	10,482		10,569		10,440		10,806		10,718		10,865	10,993		11,109		11,367		11,168		11,150		—		9	%
Nasdaq Composite	2,057		2,185	2,152		2,152		2,120		2,233		2,205		2,306	2,281		2,340		2,323		2,179		2,172		—		6	%
Standard & Poor’s 500	1,191		1,234	1,220		1,229		1,207		1,249		1,248		1,280	1,281		1,295		1,311		1,270		1,270		—		7	%
Schwab 1000	3,881		4,028	3,983		4,009		3,943		4,088		4,087		4,205	4,195		4,256		4,302		4,170		4,174		—		8	%
Clients’ Daily Average Trades (in thousands)
Revenue Trades (3)	177.3		189.5	189.1		205.7		229.7		236.7		222.4		297.8	287.5		245.4		258.7		269.6		224.9		(17	%)	27	%
Schwab Investor Services (4)	11.5		12.0	14.4		16.0		16.4		15.6		11.6		22.6	18.9		20.3		20.0		17.3		17.3		—		50	%
Schwab Institutional®	10.8		12.6	11.8		13.8		12.8		11.1		9.7		13.6	13.2		13.1		14.6		15.7		15.8		1	%	46	%
Total	199.6		214.1	215.3		235.5		258.9		263.4		243.7		334.0	319.6		278.8		293.3		302.6		258.0		(15	%)	29	%
Daily Average Market Share Volume (in millions)
NYSE	1,516		1,479	1,441		1,683		1,847		1,642		1,553		1,868	1,737		1,656		1,681		1,791		1,765		(1	%)	16	%
Nasdaq	1,748		1,674	1,539		1,716		1,796		1,768		1,704		2,171	2,014		2,135		2,139		2,164		2,087		(4	%)	19	%
Total	3,264		3,153	2,980		3,399		3,643		3,410		3,257		4,039	3,751		3,791		3,820		3,955		3,852		(3	%)	18	%
Mutual Fund Net Buys (Sells) (5) (in millions of dollars)
Large Capitalization Stock	364.5		236.0	198.5		386.3		(133.4	)	546.2		168.9		1,057.0	786.3		566.6		418.4		288.5		67.1
Small / Mid Capitalization Stock	486.8		438.8	374.3		332.1		69.6		358.8		158.6		763.5	734.1		774.4		709.2		126.8		(370.1	)
International	411.7		513.7	765.7		945.7		764.3		1,004.9		1,019.4		2,063.2	1,510.8		1,693.5		1,353.6		550.7		(619.2	)
Specialized	224.7		199.7	78.8		230.1		(39.3	)	(24.4	)	41.9		348.7	257.1		171.0		180.8		(20.5	)	(210.8	)
Hybrid	196.9		265.9	177.5		261.4		226.9		324.3		145.9		286.5	242.7		266.7		119.2		129.6		213.1
Taxable Bond	847.9		601.4	761.4		678.5		247.7		(25.5	)	(195.9	)	774.3	766.4		698.6		165.2		598.9		701.8
Tax-Free Bond	179.7		115.1	113.4		61.7		6.2		(65.5	)	(186.8	)	267.7	232.4		177.3		6.5		177.0		152.3
Money Market Funds	(1,409.0	)	6.5	944.6		(286.2	)	1,883.6		335.2		1,866.7		874.8	2,211.0		(216.6	)	(1,446.2	)	3,457.9		3,156.1

⁽¹⁾ April, March, and January 2006 include an inflow of $2.3 billion, an outflow of $1.6 billion, and an inflow $1.6 billion, respectively, at U.S. Trust related to three Special Fiduciary business clients. August 2005 includes inflows of $3.0 billion at U.S. Trust related to two Special Fiduciary business clients.

⁽²⁾ Periodically, the Company reviews its active account base. The Company has identified over 400,000 brokerage accounts that meet its current definition of active, but had little or no balances and no likelihood of further activity. Effective March 31, 2006, the Company has removed these accounts from its active brokerage account total and adjusted amounts back to January 2006. Amounts for periods prior to January 2006 were not adjusted. While the Company has adjusted its definition of an active brokerage account to exclude certain zero and minimal balance accounts, the basic definition remains “accounts with balances or activity within the preceding 8 months.” In addition, to present a more comprehensive view of its client relationships, the Company has added disclosures for its banking accounts (i.e., deposits, credit cards, HELOCs, mortgages, and other loans) and Corporate Retirement Plan Participants. Amounts for periods prior to December 2005 are not available.

⁽³⁾ Includes all client trades (both individuals and institutions) that generate either commission revenue or revenue from principal markups (i.e., fixed income); also known as DART.

⁽⁴⁾ Includes eligible trades placed by individual investors enrolled in Schwab Private Client^TM and advised investing offers.

⁽⁵⁾ Represents the principal value of client mutual fund (no-load, low-load, load) transactions handled by Schwab and U.S. Trust, including transactions in Schwab Funds^®, Excelsior^® Funds, Laudus Fund^TM, and other proprietary funds. Includes institutional funds available only to Investment Managers.