Dear SARA,

Beginning May 1st, ShareBuilder will introduce a new fee structure for our 
basic services.  Single recurring transactions will cost slightly more, while 
other prices will drop.  Many of you have asked us to cut our prices for 
Real-Time Trades and I'm pleased to announce that we're doing just that.  In 
addition, we are cutting the fee for one-time (non real-time) ShareBuilder 
transactions as well.  And later in May, we will introduce a new ShareBuilder 
subscription option, where for only $8 a month you can take advantage of 
unlimited ShareBuilder purchases!

WHAT'S THE NEW PRICE STRUCTURE?
On May 1st, the standard recurring transaction fee will change from $2 to $3 
(and from $1 to $2 for custodial accounts).  We are also reducing several 
fees directly.  To simplify our structure, we are cutting the fee for 
one-time (non real-time) ShareBuilder transactions from $5 to just $3.  We 
have also listened to you about Real-Time Trades, and have reduced the fee 
from $19.95 to $15.95.  Here is a summary of the changes:

* All you can Build - New! $8
* ShareBuilder transaction - from $2 to $3
   (Individual, Joint or IRA)
* ShareBuilder transaction - from $1 to $2
   (Custodial)
* One-Time ShareBuilder transaction - from $5 to $3
* Real-Time Trades - from $19.95 to $15.95

Not only are we offering you a less expensive way to diversify your 
portfolio, we've also lowered our prices for those investors who purchase on 
a one-time basis or trade Real-Time.  All you can Build will be the least 
expensive way to build a portfolio of stocks anywhere.  While we want to 
encourage diversification and recommend the subscription plan, paying per 
transaction can still make sense for investors purchasing just one or two 
stocks in their ShareBuilder Plan.

STAYING THE COURSE
The market has been incredibly tough for all of us during the past several 
months, but we all know that we still have to invest money to get ahead in 
the long run.  While the effect on our portfolio values has been depressing, 
cycles are normal, and the prudent way to smooth the effects is to keep 
investing equal dollar amounts.  Holding to a strategy of dollar-cost 
averaging across a diverse group of stocks is exactly what investors should 
do to minimize their market risk over time. In a market rebound, today's low 
prices will look like bargains in comparison.  We hope that giving you the 
best tools possible to invest wisely will position you and your investments 
to succeed. I believe the All you can Build feature will be a big help.

Sincerely,


Jeff Seely

President and CEO
ShareBuilder Securities Corporation

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Copyright 1999-2001 ShareBuilder Securities Corporation, a registered 
broker-dealer and Member NASD/SIPC, is a subsidiary of Netstock Corporation. 
ShareBuilder is a trademark of Netstock Corporation. Patent Pending.

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