Company Press Release Schwab Appoints Marie Chandoha President and CEO of Charles Schwab Investment Management, Inc.

SAN FRANCISCO--The Charles Schwab Corporation today announced the appointment of Marie A. Chandoha as president and CEO of Charles Schwab Investment Management, Inc. (CSIM) the investment advisor to Schwab and Laudus Funds. Chandoha will report to Schwab CEO Walt Bettinger.

Chandoha joined Schwab in September of this year as Chief Investment Officer for CSIM, leading portfolio management and overseeing nearly $190 billion in mutual funds and separate account assets as of September 30, 2010. Prior to joining Schwab in 2010, Chandoha was the global head of the fixed income business at Barclays Global Investors, which was acquired by BlackRock. Before joining BGI in 2007, she was co-head and senior portfolio manager in charge of the Montgomery fixed income division at Wells Capital, a senior bond strategist at Goldman Sachs, and managing director responsible for the global fixed income research and economics department at Credit Suisse First Boston. Previously, Chandoha was a mortgage securities research analyst at Morgan Stanley and an economist at the Federal Reserve Bank of New York. Chandoha earned a Bachelor of Arts degree in economics from Harvard University.

Chandoha replaces Randy Merk, former CSIM president and CEO, who takes on a Special Project role for the firm.

About Charles Schwab

The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial services, with more than 300 offices and 7.9 million client brokerage accounts, 1.5 million corporate retirement plan participants, 673,000 banking accounts, and $1.5 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (“Schwab”) (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and mortgage services and products. More information is available at www.schwab.com and www.aboutschwab.com.