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CHARITABLE GIFT ACCOUNTS: THE VALENTINE'S THAT TRULY KEEPS ON GIVING

SAN FRANCISCO, Feb. 2, 2005 — Americans have proven to be extremely generous when it comes to helping the disadvantaged. In fact, as a percentage of GDP, Americans give more than citizens of any other country.1 This year, the Schwab Fund for Charitable Giving® suggests a new way to commemorate Valentine's Day-with something more meaningful and long-lasting than flowers. Set up a tax-deductible charitable account, or donor advised fund, in the name of your loved one, who can then use it to support charitable causes throughout the years.

"The idea of giving a charitable account to a loved one for Valentine's Day actually came to us when we heard that one of our donors had opened an account for his wife to celebrate their 25th anniversary," said Kim Wright-Violich, president of the Schwab Fund for Charitable Giving. "The customizable nature of these types of accounts makes it easy for people to honor loved ones by creating a legacy of giving. For couples, setting up a Charitable Gift Account together is the perfect gift for those looking to make a lasting statement about their shared commitment to a common cause."

Give a certificate of "charitable love"
Beginning today through February 14, the Schwab Fund for Charitable Giving will provide a personalized Valentine's "Giving" Certificate to anyone who sets up a Charitable Gift Account as a gift for a loved one. For new accounts of $25,000 or more, the Fund will include a box of valentine's chocolates to present along with the certificate announcing the gift.

About Charitable Gift Accounts
Charitable gift accounts are vehicles set up to help donors structure their giving and simplify their recordkeeping within a single charitable account. Donors make an irrevocable contribution of cash or securities to the account, which is owned and administered by a non-profit organization. Donations of tangible items and real estate can also be made through a charitable intermediary. By making a contribution to charitable gift account, the donor relinquishes ownership of the assets but can still recommend when, to whom, and how much to grant from the account. To find out how to arrange a Valentine's Day gift that truly keeps on giving, contact the Schwab Fund for Charitable Giving at 800-746-6216 or visit their website at www.schwabcharitable.org.

About the Schwab Fund for Charitable Giving
The Schwab Fund for Charitable Giving is an independent, nonprofit organization established in 1999 to offer donor-advised funds and other philanthropic services. As of December 31, 2004, the Fund has received $700 million in contributions and has distributed more than $290 million to charities. The Fund has distributed over 65,000 grants to more than 20,000 charitable organizations throughout the United States. For more information about the Fund and the Charitable Gift Account, please visit www.schwabcharitable.org.

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 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 and mortgage services and products. The Corporation's other operating subsidiaries include U.S. Trust Corporation (member FDIC) and CyberTrader®, Inc. (member SIPC). These companies Web sites can be reached at www.schwab.com, www.schwabbank.com, www.ustrust.com, and www.cybertrader.com.