Cowen & Company to Offer horsesmouth Service to Its Correspondents

Business Wire, June 24, 1998

NEW YORK--(BUSINESS WIRE)--June 24, 1998--horsesmouth, LLC, the online broker community, today announced that Cowen & Company will make available horsesmouth's subscription Internet services to the correspondent firms for which Cowen provides clearing and execution services.

"We believe so strongly in the value of horsesmouth to retail brokers that we wanted to make the service available to our growing network of correspondent firms. At Cowen, we always are interested in ways of adding value to our services, and by offering horsesmouth, we are giving our correspondents an extra edge," said Jeffrey B. Kiley, managing director.

Founded in 1918, Cowen & Company has over 55 correspondent relationships. The firm also has 11 domestic and five foreign offices.

horsesmouth is a rapidly growing Internet-based information service designed specifically for retail registered representatives. The site contains only the highest quality independent research, practical business-building tips, and news and features of interest to brokers. Contributors include Forbes magazine columnist George Gilder and widely quoted economist Ed Hyman, as well as experts covering industries including semiconductors, retailing and petroleum. horsesmouth is available only to registered representatives, and is devoted to helping brokers identify, serve and retain clients in the most professional manner possible.

In addition, a growing list of "best of the Net" information sources are included with the service: TheStreet.com, Market Guide, Zacks Investment Research and IPO Monitor.

"We created horsesmouth to help brokers get clients and keep clients," said co-founder and managing director William T. Nicklin. "With all the attention given to the growth of online trading, everyone seems to overlook the fact that stockbrokers are in terrific demand both by investors who want advice and counsel, and by brokerage firms who recognize the value of superior investment professionals. We believe that knowledgeable brokers will have even a greater role in personal finance in the future, and we're using the latest technology to help them succeed."

Nicklin added that brokers may become horsesmouth Members individually or as part of a firmwide program. Individual memberships are available at $99 a month.

   CONTACT: horsesmouth, LLC
             William T. Nicklin, Managing Director
             212/343-8760, ext. 21