Charles Schwab Signs Contract With DST Output

                Charles Schwab Signs Contract With DST Output

PR Newswire

EL DORADO HILLS, Calif., March 20, 2013

EL DORADO HILLS, Calif., March 20, 2013 /PRNewswire/ -- Charles Schwab & Co.,
Inc., a leading brokerage firm headquartered in San Francisco, Calif.,
recently signed a multi-year contract with DST Output, LLC ("DST Output"),
part of the Customer Communications Segment of DST Systems, Inc. ("DST"), to
produce and deliver its trade confirmations and broker-dealer, bank and tax
statements, as well as provide fulfillment, direct mail and warehouse
distribution services.

"We chose DST Output for its innovation, advanced technology and
cost-effective approach to producing and delivering customer communications
for the brokerage industry," explained Mike Haydel, senior vice president of
brokerage and specialized products at Schwab. "They can advance Schwab to the
next level of efficient print and electronic statement production and
distribution for the benefit of our clients."

In gaining the contract, DST Output demonstrated its ability to align
capabilities and resources to meet Schwab's requirements, and highlighted
opportunities for Schwab branches and independent registered investment
advisors (who custody their clients' assets at Schwab) to personalize
statement messaging and implement color options. The brokerage giant was
impressed by DST Output's approach to using technology to influence the
communication process.

The bulk of Charles Schwab's customer communications has already been
converted to DST Output, and just a few applications remain to be transitioned
in the coming months. The work is being processed across four of DST Output's
facilities in California, Missouri, Massachusetts and Connecticut for rapid
distribution to customers and built-in disaster recovery to ensure business

"DST Output, together with DST and DST Brokerage Solutions, are well
positioned to service the brokerage industry," says Cheryl Kananowicz, senior
vice president for DST Output. "Not only can we provide the expertise in
producing and delivering all customer communications, but we also bring to the
table brokerage knowledge and decades of experience."

About the Customer Communications Segment of DST
The Customer Communications Segment of DST Systems, Inc. consists of DST
Output, LLC and its subsidiaries and related affiliates; including Lateral
Group NA, LLC and Newkirk Products, Inc. Together these businesses provide
cross-media customer communications that address the broad spectrum of
consumer preferences. Last year, the Segment produced more than 3.5 billion
transactional communications that were received via postal, e-mail, Web, and
mobile applications. For more information, visit

About Charles Schwab
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial
services, with more than 300 offices and 8.8 million active brokerage
accounts, 1.6 million corporate retirement plan participants, 874,000 banking
accounts, and $2.01 trillion in client assets as of January 31, 2013. The
Company was ranked 'Highest in Investor Satisfaction With Self-Directed
Services' in the 2012 US Self-Directed Investor Satisfaction Study(SM) from
J.D Power and Associates. 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. (member
SIPC,, 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; compliance and trade monitoring solutions;
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 lending
services and products. More information is available at www.schwab.comand

Dave Saavedra
Corporate Communications
DST Output
(916) 939-4522

SOURCE DST Systems, Inc.
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