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TD AMERITRADE Announces Stock Repurchase

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  Published in Business and Finance on Wednesday, February 18th 2009 at 6:39 GMT, Last Modified on 2009-02-18 06:40:15 by Market Wire
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OMAHA, Neb.--([ BUSINESS WIRE ])--TD AMERITRADE Holding Corporation (NASDAQ: AMTD) today announced that its board of directors has authorized the repurchase of 34 million shares from its second-largest shareholder, the family of Founder Joe Ricketts. The Ricketts plan to use the proceeds from this transaction in connection with the family's bid to buy the Chicago Cubs.

The Company will use this transaction to complete its existing buyback programs, including its recently announced plan to repurchase the shares it intends to issue in the proposed acquisition of thinkorswim Group Inc. The Company will purchase these shares at a price of $11.85 per share and expects to complete the transaction within the coming days.

"This transaction with our founder will allow us to complete our existing buyback plans with immediate accretion for all of our shareholders," said Fred Tomczyk, president and chief executive officer.

Upon completion of the transaction, the Ricketts family will continue to own approximately 17.7 percent of the Company's outstanding common stock and will hold two seats on the TD AMERITRADE board of directors, per the Company's stockholders agreement.

"I am proud of what we have accomplished at TD AMERITRADE and strongly believe in our future growth," said Joe Ricketts, founder and director at TD AMERITRADE. "Our family is working to close a deal for the Chicago Cubs, and we are pleased to have reached a mutually beneficial agreement with the Company that will help us to do so."

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About TD AMERITRADE Holding Corporation

TD AMERITRADE Holding Corporation, through its brokerage subsidiaries,¹ provides a dynamic balance of investment products and services that make it the investment firm of choice for millions of retail investor and independent registered investment advisor (RIA) clients. Listed by Forbes as one of America's best big companies, the Company offers a full spectrum of investment services, including a leading active trader program, intuitive long-term investment solutions and a national branch system, as well as relationships with one of the largest independent RIA networks.² The Company's common stock trades under the ticker symbol AMTD. For more information, please visit [ www.amtd.com ].

¹TD AMERITRADE, Inc., member FINRA ([ www.FINRA.org ]) /SIPC ([ www.SIPC.org ]), receives clearing and custodial services from TD AMERITRADE Clearing, Inc., member FINRA/SIPC. TD AMERITRADE, Inc. and TD AMERITRADE Clearing, Inc. are subsidiaries of TD AMERITRADE Holding Corporation.

²More information on the Forbes award is available at [ www.forbes.com/platinum ].