ZECCO.COM OFFER OF FREE ONLINE TRADING SPURS IMMEDIATE REACTION FROM BANK OF AMERICA
Banking Giant Requires Much Higher Balance, Offers Fewer Free Trades

LOS ANGELES, CA October 11, 2006— Zecco.com today announced that Bank of America Corp. reacted to their launch of zero cost trading on Zecco.com by initiating a free trading program of their own. However, Bank of America accounts require a $25,000 balance versus the $2,500 required to open a Zecco account. In addition, Bank of America only offers 30 free trades a month, while Zecco offers 40 trades per month.

“The Bank of America announcement validates our free trading concept on Zecco.com” said Jeroen Veth CEO of Zecco.com. “When we launched our zero commission trading for everyone, we knew it was going to transform the market, but we’re unimpressed by Bank of America’s half-hearted effort. A minimum $25,000 balance? That’s a lot of money.”

As one might expect, the launch of Zecco.com and the Bank of America announcement of free trading have sent shock waves through the online discount brokerage industry. TDAmeritrade, E*Trade and Charles Schwab shares have gone down 4-5% since the Zecco.com announcement. This is troublesome news to three companies who had just stabilized following their own round of price wars.

Big financial institutions have tried free trading before with less than stellar results. TDAmeritrade tried out a free trading service but limited customer support to email. They ended the program in 2005 and migrated customers to their izone.com service that charges $5 commissions. In 2000, American Express offered free trading to those with large accounts and closed it down in less than a year despite the howls of their 500,000 customers.

“Zecco.com is different from the large players, our revenue model is based on free commissions and we make our money on interest and premium products like options trading,” stated Allard Luchsinger, Zecco COO. “The actual cost of a trade is quite small and we absorb it as the cost of doing business. We also don’t spend four dollars of every trade on marketing or support tens of millions of dollars of legacy ‘heavy iron’ in the basement. Without the marketing and technology costs - and with the addition of advertising revenue from our portal - we can offer free trading to everyone.”

About Zecco Holdings, Inc.
Zecco Holdings (www.zecco.com) is the company behind Zecco.com , the online financial portal and community where investors trade stocks for free. Zecco.com provides a valuable community-moderated space where great investing ideas can be freely shared, debated and tested. Zecco.com also has a comprehensive suite of news, quotes, and stock research tools to help investors make informed decisions and network with others. Headquartered in Ontario, California, Zecco.com combines the best features of a financial portal, social networking community, and online brokerage at an attractive price: Free.