News Release

SYDNEY, Australia--(BUSINESS WIRE)--Aug. 2, 2000--E*TRADE Australia (ASX:ETR), a leading provider of online financial services (www.etrade.com.au), and Hilton HHonors Worldwide today announced a new marketing relationship that will provide Hilton HHonors members with HHonors bonus points when they open an account with E*TRADE Australia.

The relationship, which marks the first of its kind for both the online investing and hospitality industries in Australia, is an extension of an ongoing international relationship between E*TRADE Group and Hilton HHonors.

The agreement offers HHonors members the opportunity to earn 5,000 HHonors points when they open a new E*TRADE Australia account, and enables E*TRADE Australia to reach a large and highly attractive group of consumers with an expressed allegiance to one of the world's leading frequent-traveler programs.

Hilton HHonors members can earn and redeem points for a variety of rewards and services, including free travel opportunities and hotel stays at more than 2,000 HHonors hotels in more than 50 countries worldwide, as well as a range of valuable merchandise.

E*TRADE Australia General Manager-Marketing Bill Wileman said: "We believe many Hilton HHonors members will be self-directed investors who like to be in control of their own financial future. By providing the highest-quality tools and research on our Web site, Hilton HHonors members will be able to make informed investment decisions and execute them using our lightning-fast order-placement technology."

"The Hilton HHonors partner team strives to offer members incentives that will increase their reward-earning potential. By teaming up with E*TRADE Australia, we are providing our members access to online brokering which provides fully automated order processing so customers can act quickly to capture opportunities," said Jeffrey Diskin, president and chief operating officer, Hilton HHonors Worldwide.

"Our members will have access to E*TRADE Australia's research, such as BigCharts, market depth, sector analysis and company profiles."

The scope of the ongoing relationship will create exceptional opportunities for E*TRADE Australia, Hilton HHonors and their customers.

"E*TRADE Australia and Hilton HHonors are committed to establishing new services that would mutually benefit our customers. We are exploring opportunities to have E*TRADE Australia accessible in Hilton HHonors hotels; this will mean customers will always be in control of their finances and never too far away from valuable market information," said Wileman.

About E*TRADE Australia (www.etrade.com.au)

E*TRADE Australia's services are provided by ETRADE Australia Securities Ltd., a member of the Australian Stock Exchange and holder of a dealers license and a subsidiary of ETRADE Australia Ltd. E*TRADE Australia is a trademark of E*TRADE Group Inc.

ETRADE Australia Securities Ltd. holds the license from E*TRADE Securities Inc., a subsidiary of E*TRADE Group Inc. The license provides ETRADE Australia Securities Ltd. the rights to the E*TRADE brand, technology and services, under the E*TRADE Australia banner.

E*TRADE Australia offers independent investors the convenience and control of automated securities order placement, along with a suite of value-added products and services that can be personalized, including portfolio tracking, charting and quote applications, real-time company announcements, news and other information services. E*TRADE Australia does not provide investment advice.

About E*TRADE

E*TRADE is a global leader in online personal financial services, offering value-added investing and research features, premium customer service and a redundant, proprietary Stateless Architecture(SM) infrastructure. In addition to the United States, E*TRADE presently serves customers through branded Web sites in Denmark, Korea, Japan, the United Kingdom, Sweden, France, Australia, New Zealand and Canada.

E*TRADE has been recognized as a leader in online financial services by Gomez Advisors, Lafferty Information and Research Group, PC Magazine and Smart Computing magazine. E*TRADE Securities Inc. (member, NASD/SIPC) and its parent company, E*TRADE Group Inc., have offices in Northern California and in other major business centers in the United States and worldwide. E*TRADE is a registered trademark of E*TRADE Securities Inc.

Important Notice

E*TRADE, Destination E*TRADE and Stateless Architecture are registered trademarks or trademarks of E*TRADE Securities Inc. All other trademarks are properties of their respective owners. The statements contained in this news release that are forward-looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include but are not limited to changes in market activity, market acceptance of the Destination E*TRADE Web site, anticipated increases in the rate of new customer acquisition, the conversion of new visitors to the site to customers, seasonality, the development of new products and services, the enhancement of existing products and services, competitive pressures (including price competition), system failures, economic and political conditions, changes in consumer behavior, and the introduction of competing products having technological and/or other advantages. Further information about these risks and uncertainties can be found in the information included in the annual report filed by the company with the Securities and Exchange Commission on Form 10-K (including information under the caption "Risk Factors") and quarterly reports on Form 10-Q. System response and account access time may vary because of market conditions, system performance and other conditions.

About Hilton HHonors Worldwide

Hilton HHonors is a guest reward program that gives frequent travelers a faster way to earn the rewards they want most. Because of unmatched flexibility, generosity and value offered by HHonors program features, as well as the many aggressive promotions that HHonors offers each year, the program has been recognized with numerous travel-industry awards, including Best International Hotel Program in 1999 by readers of InsideFlyer magazine.

Membership in Hilton HHonors is free. Travelers may enroll online by visiting the HHonors Web site at www.hiltonhhonors.com; or, to enroll instantly in the program and make reservations, consumers may call the Hilton Reservations Worldwide office in their area.

Travelers also may pick up an enrollment form with a temporary membership card at any participating Conrad International(R), Doubletree(R), Embassy Suites Hotel(SM), Hampton Inn(R), Hampton Inn & Suites(R), Hilton(R), Hilton Garden Inn(R) or Homewood Suites(R) by Hilton hotel worldwide.

Hilton Hotels Corp. and Hilton International, a subsidiary of Hilton Group plc, have a worldwide alliance to market Hilton, the world's best-known hotel brand. Collectively offering more than 2,000 hotels in more than 50 countries worldwide, both companies are recognized as leaders in the hospitality industry. Hilton International currently operates more than 210 hotels in more than 50 countries worldwide.

This is an exclusive offer for Hilton HHonors members to earn HHonors points and is subject to HHonors terms and conditions. Hilton Hotels and its affiliates are not responsible for any financial products or services associated with the offer. Allow 60-90 days for HHonors points to be posted to your HHonors account.

Offer is valid from June 1, 2000, until June 30, 2001, and is open only to residents of Australia and New Zealand. Normal E*TRADE Australia account opening conditions apply. Applicants must be 18 years or older. E*TRADE Australia account must remain open for six months.

E*TRADE Australia reserves the right to terminate this offer at any time, without notice. Limit one bonus point award per HHonors member. Not valid in conjunction with any other offer. Offer not open to existing E*TRADE customers.

Copyright 2000, the E*TRADE and E*TRADE Australia trademarks are owned by E*TRADE Securities Inc., a wholly owned subsidiary of E*TRADE Group Inc. and licensed to ETRADE Australia Securities Ltd. (ACN 078 174 973), a member of the Australia Stock Exchange Ltd. All other trademarks and registered trademarks mentioned herein are the property of their respective holders. E*TRADE does not provide investment advice.

CONTACT: Hilton Hotels Corp.

             Jeanne Datz or Kendra Walker, 310/205-4545
                     or
             Love
             Monique Haylen, (02) 9362 8533