Schwab Authorizes Additional Stock Repurchase

Schwab Authorizes Additional Stock Repurchase 


SAN FRANCISCO, Dec. 9  /PRNewswire-FirstCall/ -- The Board of Directors of The
Charles Schwab Corporation (NYSE:SCH) Nasdaq at its meeting 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 September 30, 2004,
the Company had 1.35 billion weighted average common and common equivalent
shares outstanding.

The Board's action follows the completion of repurchase authorizations granted
on September 20, 2001 and March 14, 2003.  Under those authorizations, the
Company repurchased approximately 34 million shares for $318 million during the
second half of 2004.

About Charles Schwab

The Charles Schwab Corporation, 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 services and products, including an
extensive selection of mutual funds; financial planning and investment advice;
retirement plans; banking products and services; and referrals to prescreened
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: The Charles Schwab Corporation



CONTACT:  media, Glen Mathison, [phone], or investors/analysts,

Rich Fowler, [phone], both of Charles Schwab



Web site:  http://www.schwab.com/ 

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