TD Ameritrade Holding 8-K TD Ameritrade Achieves Fifth Record Year

Exhibit 99.1

At the Company
Kim Hillyer Manager, Communications (402) 827-8654 kim.hillyer@tdameritrade.com	Tim Nowell Director, Investor Relations (402) 597-8440 timothy.nowell@tdameritrade.com

TD AMERITRADE ACHIEVES FIFTH RECORD YEAR

Fourth Quarter EPS up 65%⁽¹⁾
Pre-Tax Margins Back Above 50%
Fiscal 2008 Guidance Up 20%

OMAHA, Neb., October 23, 2007–TD AMERITRADE Holding Corporation (NASDAQ: AMTD) has released results for fiscal 2007, a record year that included the largest client account integration in the Company’s history and the launch of the next phase of its asset gathering strategy.

2007 Fiscal Year Highlights⁽²⁾

• Record earnings of $1.06 per diluted share

• Record net income of $646 million

• Record pre-tax income of $1.0 billion, or 48 percent of net revenues

• Record EBITDA of $1.2 billion, or 57 percent

• Record net revenues of $2.2 billion

• Return on average equity of 34 percent

• Average client trades per day of approximately 253,000

• 554,000 new accounts, up 30 percent from fiscal 2006, at an average cost per account of $263

“In 2007 we successfully completed the largest client integration in the history of our industry and continued the implementation of our client segmentation strategy. Over 80 percent of our revenue growth this year was asset-based, and we plan to take that momentum into 2008,” said Joe Moglia, chief executive officer.

September Quarter Highlights⁽²⁾

• Record earnings of $0.33 per diluted share, up 65 percent year over year

• Record net income of $200 million

• Record pre-tax income of $311 million, or 54 percent of net revenues

• Record EBITDA of $359 million, or 62 percent

• Record net revenues of $575 million

• Record average client trades per day of approximately 278,000

• Record client assets of approximately $302.7 billion, including $44.5 billion of client cash and money market funds

• Liquid assets of $593 million; cash and cash equivalents of $414 million

• 127,000 new accounts at an average cost per account of $241; 6,380,000 Total Accounts; 3,272,000 Qualified Accounts⁽³⁾

• Average client margin balances of approximately $7.8 billion. On Sept. 30, 2007, client margin balances were approximately $7.7 billion.

“Market volatility led to increased client activity, including our largest trading day ever with 505,000 trades,” Moglia continued. “While this certainly helped fuel our record results for the quarter, we were still able to earn approximately 60 percent of our net revenues from asset-based sources and achieve 54 percent pre-tax margins.”

Fiscal 2008 Outlook

The Company has also released its guidance for fiscal 2008 and expects to earn between $1.15 and $1.39 per share, with a midpoint of $1.27. More information is available through the Company’s revised “Outlook Statement,” located in the “Investor” section of its corporate Web site at www.amtd.com.

Stock Buy-back Program

Since the stock buyback program was initiated, through Sept. 30, 2007, the Company has invested approximately $325 million in repurchasing 19 million of the 32 million shares authorized for the program at a weighted average price of $17.10 per share.

Other Corporate Matters

The Company has named Dave Kelley as its chief information officer. Kelley served in a number of technology leadership roles with Merrill Lynch before joining TD AMERITRADE in 2006.

Company Hosts Conference Call

TD AMERITRADE will host its September Quarter conference call this morning, Oct. 23, 2007, at 7:30 a.m. CT. Participants may listen to the call by dialing 800-819-9193 or 913-981-4911 for international participants. The Company will Webcast the call live at www.amtd.com.

As the Company will be discussing a number of financial metrics, participants are encouraged to download the slides associated with the presentation from the Web site before the start of the call. A podcast and an archived version of the presentation, including the materials discussed, will be available following the call.

AMTD-E

About TD AMERITRADE Holding Corporation

TD AMERITRADE Holding Corporation, through its brokerage subsidiaries⁽⁴⁾ provides a dynamic balance of investment products and services that further the Independent Spirit of individual investors. Listed byBarron’sas the #1 Web browser-based online broker andForbesas one of America’s best big companies, the Company’s full spectrum of services include a leading active trader program and long-term investor solutions, including a national branch system, as well as relationships with one of the largest networks of independent registered investment advisors.⁽⁵⁾ The Company’s common stock trades under the ticker symbol AMTD. For more information, please visit www.amtd.com.

Safe Harbor

This document contains forward-looking statements within the meaning of the federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws. In particular, any statements regarding financial guidance and future operations are forward-looking statements. These statements reflect only our current expectations or plans and are not guarantees of future performance, results or operations. These statements involve risks, uncertainties and assumptions that could cause actual results or performance to differ materially from those contained in the forward-looking statements. These risks, uncertainties and assumptions include general economic and political conditions, interest rates, market fluctuations and changes in client trading activity, increased competition, systems failures and capacity constraints, ability to service debt obligations, regulatory and legal matters and uncertainties and other risk factors described in our latest Quarterly Report on Form 10-Q and our latest Annual Report on Form 10-K . These forward-looking statements speak only as of the date on which the statements were made. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

⁽¹⁾The 65 percent increase is EPS is based on EPS excluding investment gains/losses. The corresponding GAAP increase in EPS is 57 percent. See the attached reconciliation of non-GAAP financial measures.

⁽²⁾See attached reconciliation of non-GAAP financial measures.

⁽³⁾Total accounts include all open client accounts (funded and unfunded), except clearing accounts. Qualified accounts include all open client accounts with a total liquidation value greater than or equal to $2,000, except clearing accounts. See Glossary of Terms on the Company’s web site at www.amtd.com for additional information.

⁽⁴⁾TD 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 and TD AMERITRADE Clearing, Inc. are subsidiaries of TD AMERITRADE Holding Corporation.

⁽⁵⁾“The Best Web Browser-Based Online Broker” by Barron’s, 3/5/2007 based on Trade Experience, Trading Technology, Usability, Range of Offerings, Research Amenities, Portfolio Analysis & Reports, Customer Service & Access, and Costs. Barron’s is a registered trademark of Dow Jones, L.P. More info on the Forbes award is available at www.forbes.com/platinum.

TD AMERITRADE HOLDING CORPORATION
CONSOLIDATED STATEMENTS OF INCOME

In thousands, except per share amounts

(Unaudited)

	Quarter Ended									Fiscal Year Ended
	Sept. 30, 2007			June 30, 2007			Sept. 29, 2006			Sept. 30, 2007			Sept. 29, 2006
Revenues:
Transaction-based revenues:
Commissions and transaction fees	$	225,803		$	199,096		$	164,724		$	813,786		$	738,380
Asset-based revenues:
Interest revenue		260,713			259,254			302,620			1,013,600			1,031,971
Brokerage interest expense		(117,108	)		(120,352	)		(106,838	)		(455,467	)		(335,820	)
Net interest revenue		143,605			138,902			195,782			558,133			696,151
Money market deposit account fees		135,680			134,646			70,664			535,381			185,014
Investment product fees		62,375			60,650			50,377			232,177			140,699
Total asset-based revenues		341,660			334,198			316,823			1,325,691			1,021,864
Other revenues		7,738			8,513			7,154			37,469			43,287
Net revenues		575,201			541,807			488,701			2,176,946			1,803,531
Expenses:
Employee compensation and benefits		108,395			114,681			103,050			429,820			350,079
Fair value adjustments of compensation-related derivative instruments		(1,442	)		(1,274	)		(2,963	)		(3,193	)		(1,715	)
Clearing and execution costs		13,166			23,620			22,290			79,681			73,049
Communications		17,680			17,738			18,923			82,173			65,445
Occupancy and equipment costs		19,674			22,247			20,181			84,294			74,638
Depreciation and amortization		7,006			6,068			6,364			26,237			21,199
Amortization of acquired intangible assets		13,625			13,574			13,823			54,469			42,286
Professional services		20,014			17,247			22,079			83,995			87,521
Interest on borrowings		27,396			29,627			33,630			118,173			93,988
Other		8,222			10,717			17,502			46,809			45,383
Advertising		30,558			33,031			34,688			145,666			164,072
Fair value adjustments of investment-related derivative instruments		—			—			—			—			11,703
Total expenses		264,294			287,276			289,567			1,148,124			1,027,648
Income before other income and income taxes		310,907			254,531			199,134			1,028,822			775,883
Other income:
Gain on sale of investments		165			—			2,582			5,881			81,422
Pre-tax income		311,072			254,531			201,716			1,034,703			857,305
Provision for income taxes		110,641			95,833			73,606			388,803			330,546
Net income	$	200,431		$	158,698		$	128,110		$	645,900		$	526,759
Basic earnings per share	$	0.34		$	0.27		$	0.21		$	1.08		$	0.97
Diluted earnings per share	$	0.33		$	0.26		$	0.21		$	1.06		$	0.95
Weighted average shares outstanding – basic		595,516			596,575			609,995			598,503			544,307
Weighted average shares outstanding – diluted		605,283			606,131			619,757			608,263			555,465

Note: Certain revenue reclassifications have been made to prior periods to conform to the current presentation.

TD AMERITRADE HOLDING CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS

In thousands

(Unaudited)

	Sept. 30, 2007		Sept. 29, 2006
Assets:
Cash and cash equivalents	$	413,787	$	363,650
Short-term investments		76,800		65,275
Segregated cash and investments		—		1,561,910
Broker/dealer receivables		6,811,876		4,566,525
Client receivables		7,740,579		6,970,834
Goodwill and intangible assets		2,771,297		2,788,617
Other		339,094		241,658
Total assets	$	18,153,433	$	16,558,469
Liabilities and stockholders’ equity:
Liabilities:
Broker/dealer payables	$	8,448,094	$	7,022,601
Client payables		5,313,576		5,412,981
Long-term debt		1,478,375		1,703,375
Other		758,467		689,278
Total liabilities		15,998,512		14,828,235
Stockholders’ equity		2,154,921		1,730,234
Total liabilities and stockholders’ equity	$	18,153,433	$	16,558,469

TD AMERITRADE HOLDING CORPORATION
SELECTED OPERATING DATA

	Quarter Ended									Fiscal Year Ended
	Sept. 30, 2007			June 30, 2007			Sept. 29, 2006			Sept. 30, 2007			Sept. 29, 2006
Trading Activity Metrics:
Total trades (in millions)		17.4			15.4			12.8			63.1			54.2
Average commissions and transaction fees per trade	$	13.00		$	12.91		$	12.89		$	12.90		$	13.61
Average client trades per day		277,852			244,823			204,480			253,440			216,970
Average client trades per account (annualized)		10.9			9.7			8.3			10.0			10.1
Activity rate		4.4	%		3.9	%		3.3	%		4.0	%		4.0	%
Trading days		62.5			63.0			62.5			249.0			250.0
Net Interest Margin:
Average interest-earning assets (in billions)	$	14.8		$	15.4		$	18.6		$	14.6		$	17.5
Average money market deposit account balances (in billions)		15.2			15.3			8.1			14.9			5.7
Average investable assets (in billions)	$	30.0		$	30.7		$	26.7		$	29.5		$	23.2
Net interest revenue (in millions)	$	143.6		$	138.9		$	195.8		$	558.1		$	696.2
Money market deposit account fee revenue (in millions)		135.7			134.6			70.7			535.4			185.0
Net revenue earned on investable assets (in millions)	$	279.3		$	273.5		$	266.5		$	1,093.5		$	881.2
Net interest margin (NIM)		3.64	%		3.53	%		3.95	%		3.65	%		3.74	%
Net Interest Revenue:
Segregated cash:
Average balance (in billions)	$	0.3		$	0.7		$	6.8		$	0.6		$	7.2
Average annualized yield		5.10	%		5.08	%		5.16	%		5.14	%		4.44	%
Interest revenue (in millions)	$	4.3		$	8.8		$	88.6		$	31.2		$	324.9
Client margin balances:
Average balance (in billions)	$	7.8		$	7.4		$	7.2		$	7.5		$	6.4
Average annualized yield		8.09	%		8.04	%		8.14	%		8.07	%		7.74	%
Interest revenue (in millions)	$	160.6		$	151.2		$	148.8		$	615.3		$	500.8
Securities borrowing:
Average balance (in billions)	$	6.2		$	6.8		$	3.9		$	6.0		$	3.4
Average annualized yield		5.54	%		5.39	%		5.67	%		5.58	%		5.15	%
Interest revenue (in millions)	$	88.5		$	92.7		$	55.8		$	340.4		$	178.9
Other free cash and short-term investments
Average balance (in billions)	$	0.5		$	0.5		$	0.7		$	0.5		$	0.5
Average annualized yield		5.47	%		4.91	%		5.46	%		5.15	%		5.26	%
Interest revenue – net (in millions)	$	6.4		$	6.2		$	8.9		$	24.6		$	25.3
Client credit balances:
Average balance (in billions)	$	3.5		$	3.5		$	9.6		$	3.5		$	9.8
Average annualized cost		1.54	%		1.52	%		1.12	%		1.53	%		1.00	%
Interest expense (in millions)	($	13.8	)	($	13.5	)	($	27.0	)	($	53.9	)	($	98.9	)
Securities lending:
Average balance (in billions)	$	8.9		$	9.2		$	6.6		$	8.4		$	5.7
Average annualized cost		4.50	%		4.60	%		4.74	%		4.66	%		4.05	%
Interest expense (in millions)	($	102.4	)	($	106.5	)	($	79.3	)	($	399.5	)	($	234.8	)
Net interest revenue – total (in millions)	$	143.6		$	138.9		$	195.8		$	558.1		$	696.2
Other Asset-Based Revenue Metrics:
Money market deposit account fees:
Average balance (in billions)	$	15.2		$	15.3		$	8.1		$	14.9		$	5.7
Average annualized yield		3.50	%		3.49	%		3.45	%		3.53	%		3.19	%
Fee revenue (in millions)	$	135.7		$	134.6		$	70.7		$	535.4		$	185.0
Investment product fees:
Average balance (in billions)	$	54.7		$	51.0		$	41.3		$	49.7		$	29.4
Average annualized yield		0.45	%		0.47	%		0.48	%		0.46	%		0.47	%
Fee revenue (in millions)	$	62.4		$	60.7		$	50.4		$	232.2		$	140.7
Client Account and Client Asset Metrics:
Qualified accounts (beginning of period)		3,276,000			3,262,000			3,260,000			3,242,000			1,735,000
Qualified accounts (end of period)		3,272,000			3,276,000			3,242,000			3,272,000			3,242,000
Percentage increase (decrease) during period		(0	%)		0	%		(1	%)		1	%		87	%
Total accounts (beginning of period)		6,321,000			6,230,000			6,139,000			6,191,000			3,717,000
Total accounts (end of period)		6,380,000			6,321,000			6,191,000			6,380,000			6,191,000
Percentage increase (decrease) during period		1	%		1	%		1	%		3	%		67	%
Client assets (beginning of period, in billions)	$	297.2		$	282.2		$	255.3		$	261.7		$	83.3
Client assets (end of period, in billions)	$	302.7		$	297.2		$	261.7		$	302.7		$	261.7
Percentage increase (decrease) during period		2	%		5	%		3	%		16	%		214	%

NOTE: See Glossary of Terms on the Company’s web site at www.amtd.com for definitions of the above metrics.

TD AMERITRADE HOLDING CORPORATION
RECONCILIATION OF FINANCIAL MEASURES

In thousands, except percentages and per share amounts
(Unaudited)

	Quarter Ended								Fiscal Year Ended
	Sept. 30, 2007			June 30, 2007		Sept. 29, 2006			Sept. 30, 2007			Sept. 29, 2006
Net Income Excluding Investment Gains/Losses (1)
Net income, as reported	$	200,431		$	158,698	$	128,110		$	645,900		$	526,759
Adjustments:
Gain on sale of investments		(165	)		—		(2,582	)		(5,881	)		(81,422	)
Fair value adjustments of investment-related derivative instruments		—			—		—			—			11,703
Income tax effect of above adjustments		61			—		968			2,176			26,145
Net income excluding investment gains/losses	$	200,327		$	158,698	$	126,496		$	642,195		$	483,185
EPS Excluding Investment Gains/Losses (1)
Diluted earnings per share, as reported	$	0.33		$	0.26	$	0.21		$	1.06		$	0.95
Adjustments on a per share basis, net of income tax effect:
Gain on sale of investments		—			—		(0.01	)		—			(0.09	)
Fair value adjustments of investment-related derivative instruments		—			—		—			—			0.01
EPS excluding investment gains/losses	$	0.33		$	0.26	$	0.20		$	1.06		$	0.87

	Quarter Ended																		Fiscal Year Ended
	Sept. 30, 2007						June 30, 2007						Sept. 29, 2006						Sept. 30, 2007						Sept. 29, 2006
	$			% of Rev.			$			% of Rev.			$			% of Rev.			$			% of Rev.			$			% of Rev.
EBITDA and EBITDA Excluding Investment Gains (2)
EBITDA excluding investment gains	$	358,934			62.4	%	$	303,800			56.1	%	$	252,951			51.8	%	$	1,227,701			56.4	%	$	933,356			51.8	%
Plus: Gain on sale of investments		165			0.0	%		—			—			2,582			0.5	%		5,881			0.3	%		81,422			4.5	%
EBITDA		359,099			62.4	%		303,800			56.1	%		255,533			52.3	%		1,233,582			56.7	%		1,014,778			56.3	%
Less:
Depreciation and amortization		(7,006	)		(1.2	%)		(6,068	)		(1.1	%)		(6,364	)		(1.3	%)		(26,237	)		(1.2	%)		(21,199	)		(1.2	%)
Amortization of acquired intangible assets		(13,625	)		(2.4	%)		(13,574	)		(2.5	%)		(13,823	)		(2.8	%)		(54,469	)		(2.5	%)		(42,286	)		(2.3	%)
Interest on borrowings		(27,396	)		(4.8	%)		(29,627	)		(5.5	%)		(33,630	)		(6.9	%)		(118,173	)		(5.4	%)		(93,988	)		(5.2	%)
Pre-tax income	$	311,072			54.1	%	$	254,531			47.0	%	$	201,716			41.3	%	$	1,034,703			47.5	%	$	857,305			47.5	%

	As of
	Sept. 30,			June 30,			Mar. 31,			Dec. 31,			Sept. 29,
	2007			2007			2007			2006			2006
Liquid Assets (3)
Liquid assets	$	592,770		$	430,693		$	543,211		$	498,764		$	499,385
Plus: Broker-dealer cash and cash equivalents		183,103			235,670			506,400			350,070			263,054
Less:
Non broker-dealer short-term investments		(76,800	)		(50,000	)		(37,600	)		(38,725	)		(65,275	)
Excess broker-dealer regulatory net capital		(285,286	)		(320,512	)		(464,241	)		(369,524	)		(333,514	)
Cash and cash equivalents	$	413,787		$	295,851		$	547,770		$	440,585		$	363,650

Note: The term “GAAP” in the following explanations refers to generally accepted accounting principles in the United States.

(1)	Net income and earnings per share (EPS) excluding investment gains/losses are Non-GAAP financial measures as defined by SEC Regulation G. We define net income excluding investment gains/losses as net income adjusted to remove the after-tax effect of non-brokerage investment-related gains/losses. We consider net income and EPS excluding investment gains/losses important measures of our financial performance. Gains/losses on non-brokerage investments and investment-related derivatives are excluded because we believe they are not likely to be indicative of the ongoing operations of our business. Net income and EPS excluding investment gains/losses should be considered in addition to, rather than as a substitute for, GAAP net income and EPS.
(2)	EBITDA (earnings before interest, taxes, depreciation and amortization) and EBITDA excluding investment gains are considered Non-GAAP financial measures as defined by SEC Regulation G. We consider EBITDA and EBITDA excluding investment gains important measures of our financial performance and of our ability to generate cash flows to service debt, fund capital expenditures and fund other corporate investing and financing activities. EBITDA is used as the denominator in the consolidated leverage ratio calculation for our senior credit facilities. EBITDA eliminates the non-cash effect of tangible asset depreciation and amortization and intangible asset amortization. EBITDA excluding investment gains also eliminates the effect of non-brokerage investment-related gains and losses that are not likely to be indicative of the ongoing operations of our business. EBITDA and EBITDA excluding investment gains should be considered in addition to, rather than as a substitute for, pre-tax income, net income and cash flows from operating activities.
(3)	Liquid assets is considered a Non-GAAP financial measure as defined by SEC Regulation G. We define liquid assets as the sum of a) non broker-dealer cash and cash equivalents, b) non broker-dealer short-term investments and c) regulatory net capital of (i) our clearing broker-dealer subsidiaries in excess of 5% of aggregate debit items and (ii) our introducing broker-dealer subsidiary in excess of 8 1/3% of aggregate indebtedness. We consider liquid assets an important measure of our liquidity and of our ability to fund corporate investing and financing activities. Liquid assets should be considered as a supplemental measure of liquidity, rather than as a substitute for cash and cash equivalents.