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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HQR8SjY5jf1CMMbagMYBinYg1CMyspOTtYveyErMxrOtKZytesg/5jsUtnRlDQ8c
 pb9mgvX24tsm4f0GbSh8Qg==

<SEC-DOCUMENT>0001181431-03-017009.txt : 20030804
<SEC-HEADER>0001181431-03-017009.hdr.sgml : 20030804
<ACCEPTANCE-DATETIME>20030804160249
ACCESSION NUMBER:		0001181431-03-017009
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030731
FILED AS OF DATE:		20030804

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ELMER RUSSELL S
		CENTRAL INDEX KEY:			0001197952

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11921
		FILM NUMBER:		03820770

	BUSINESS ADDRESS:	
		STREET 1:		4500 BOHANNON DR
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025
		BUSINESS PHONE:		6503316000

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			E TRADE GROUP INC
		CENTRAL INDEX KEY:			0001015780
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				942844166
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		4500 BOHANNON DRIVE
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025
		BUSINESS PHONE:		6503316000

	MAIL ADDRESS:	
		STREET 1:		4500 BOHANNON DRIVE
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd15049.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-07-31</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001015780</issuerCik>
        <issuerName>E TRADE GROUP INC</issuerName>
        <issuerTradingSymbol>(ET)</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001197952</rptOwnerCik>
            <rptOwnerName>ELMER RUSSELL S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O E*TRADE GROUP, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>4500 BOHANNON DRIVE</rptOwnerStreet2>
            <rptOwnerCity>MENLO PARK</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94025</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>General Counsel &amp; Corp. Sec.</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-07-31</value></transactionDate><deemedExecutionDate><value>2003-07-31</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>J</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2000</value></transactionShares><transactionPricePerShare><value>3.7698</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>109313</value><footnoteId id="F1"/></sharesOwnedFollowingTransaction></postTransactionAmounts
><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><footnotes><footnote id="F1">2,000 shares acquired under the E*TRADE Group, Inc. Associate Stock Purchase Plan on July 31, 2003.</footnote></footnotes><ownerSignature><signatureName>/s/ Russell S. Elmer</signatureName><signatureDate>2003-08-04</signatureDate></ownerSignature></ownershipDocument>



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</TEXT>
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</SEC-DOCUMENT>
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