Schwab Expands Managed Account Services

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Safecharge International Group Limited	LSE:SCH	London	Ordinary Share	GG00BYMK4250	ORD USD0.0001

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Safecharge (LSE:SCH)
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Pricing up to 50% Below Published Rates of Competitors SAN FRANCISCO, Oct. 5 /PRNewswire-FirstCall/ -- Charles Schwab & Co., Inc. today significantly expanded the availability of third-party and proprietary managed accounts to all its retail brokerage clients nationally. Previously, Schwab's managed account offering was available only through the fee-based services of Schwab Private Client(TM) or one of the independent investment advisory firms doing business through Schwab Institutional. Now, all qualified retail clients will be able to put the power of managed accounts to work for their portfolio with guidance and assistance from Schwab's financial consultants. Managed accounts (also known as "separate accounts" or "separately managed accounts") are fee-based portfolios of individual securities selected and managed on a discretionary basis by professional money managers. These money managers typically specialize in specific investment styles, such as large-cap growth, international equity or short-term fixed income. Managed accounts have other important features such as potential tax management benefits through greater control of capital gains and losses, and the ability to place restrictions on specific securities or categories of securities held in the account.(1) Growing in popularity, managed accounts are expected to exceed $1 trillion in assets by 2008.(2) "The expansion of our managed account services is in direct response to client need. More investors are demanding these sophisticated money management solutions, but don't want to pay the high fees typical of full-commission brokerages where these accounts are primarily sold," said Executive Vice President William Atwell, President of Schwab's Individual Investor Enterprise. "Our managed account services represent the exact combination of value and service that investors have come to expect from Schwab. This continues our heritage of giving Main Street investors affordable access to the investing opportunities previously only available from Wall Street at high prices. Our managed account pricing is as much as 50 percent below the published rates of major competitors." Account minimums for managed accounts at Schwab are $100,000 for most equity strategies and $250,000 for most fixed income strategies. Schwab's offering for retail investors consists of: Managed Account Select(R) -- A comprehensive selection of approximately 40 third party money managers, coupled with unaffiliated research and review of the money managers by Callan Associates, Inc., one of the nation's leading investment consulting firms, with over 30 years of expertise in researching and screening money management firms. Managed Account Affiliates(R) -- Four strategies from Charles Schwab Investment Management, Inc. utilizing Schwab Equity Ratings(R) for stock selection, and five strategies from the money managers at U.S. Trust. Enhanced Managed Account Offering for Independent Advisors In addition to Managed Account Select and Managed Account Affiliates, independent advisors who custody with Schwab Institutional have exclusive access to recently launched Managed Account Access(R), a bundled service offering advisors access to a broad array of top money managers with minimums as low as $100,000. Managed Account Access provides advisors with the streamlined administration available at brokerage competitors along with the flexibility to do their own due diligence. Advisors also have exclusive access to the Managed Account Marketplace(R), which gives advisors the freedom to work with more than 700 money managers, negotiating their own fees and performing their own due diligence. "Advisors and their clients truly appreciate the choice and flexibility in our offering," said John Morris, senior vice president, Schwab Managed Accounts, noting that Schwab has one of the industry's largest managed account programs for independent advisors. Across the firm, client assets in managed accounts at Schwab totaled $24 billion as of August 31, a 39% increase over the same time a year ago. About 80% of the total is attributable to independent advisors. Schwab launched its managed account offering for advisors in 1998 and first expanded availability to retail investors, through Schwab Private Client, in 2001. About Charles Schwab The Charles Schwab Corporation (NYSE / Nasdaq: SCH), 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 $1.1 trillion in client assets, The Charles Schwab Corporation is one of the nation's largest financial services firms. Its subsidiary Charles Schwab & Co., Inc. (member SIPC) provides a complete range of investment services and products, including an extensive selection of mutual funds; financial planning and investment advice; retirement plans; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent fee-based investment advisors. Its subsidiary Charles Schwab Bank, N.A. (member FDIC) provides banking products and services. The Corporation's other operating subsidiaries include U.S. Trust Corporation (member FDIC) and CyberTrader(R), Inc. (member SIPC) .These companies' Web sites can be reached at http://www.schwab.com/, http://www.schwabbank.com/, http://www.ustrust.com/, and http://www.cybertrader.com/. (1005-9496) Investments in managed accounts should be considered in view of a larger, more diversified investment portfolio. Please read Schwab's schedule H of form ADV for important information and disclosures relating to Schwab Managed Account Services. (1) Services may vary depending on the money manager chosen, and are subject to money manager acceptance of the account. (2) Cerulli Associates, November 2004 DATASOURCE: Charles Schwab CONTACT: Glen Mathison, +1-415-636-5448, or , or Sarah Bulgatz, +1-415-636-5940, or , both of Charles Schwab Web site: http://www.schwab.com/

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SCH Safecharge International Group Limited