To say the Internet has revolutionized investing would be an understatement. Investors can now place trades without waiting to call a broker during market hours. In 1998, online trading represented about 54% of our volume, compared to 37% a year earlier – an increase that surprised even us. Investors are truly embracing the Internet as an investing medium, not just for ease of trading, but also for the news, research, quotes and financial planning tools that have never been so readily available to individual investors before. We call this full-service investing for the Internet age. As we expand our capability to handle more simultaneous Web sessions (up to 80,000 at year end), we are seeing what we call the "Web dividend" – the ability to simultaneously serve more customers and improve productivity. We estimate our online and automated phone channels did the work of four call centers and 1,500 people in 1998. With our Web site averaging 40 million hits a day in January 1999 (up from 20 million a day in October 1998), this incredible technology is turning out to be a win-win for everyone.