Business Wire Introduces EDGARit, Which Converts, Formats and Electronically Transmits SEC Filings, Streamlining the Disclosure Process

Business Wire, Nov 5, 2001

Business Editors

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SAN FRANCISCO--(BUSINESS WIRE)--Nov. 5, 2001

Business Wire today became the first commercial news service to offer publicly traded companies a total disclosure solution with the launch of EDGARit, which enables companies to seamlessly fulfill SEC filing requirements with one transmission.

EDGARit offers state-of-the-art conversion, formatting and filing capabilities, allowing listed companies to comply with mandated SEC filing obligations, including 10-Ks, 10-Qs, and 8-Ks.

"Business Wire has served the disclosure needs of its members for more than 40 years," said Cathy Baron Tamraz, chief operating officer, in making the announcement. "We proudly continue our history of disclosure innovations with today's introduction of EDGARit, which is designed to simplify and streamline the disclosure process for domestic companies traded on the U.S. equities markets."

Business Wire is the only service provider in any industry that provides listed companies with a full portfolio of disclosure services:

1. broad, simultaneous, real-time news distribution via its own

dedicated network to the market-moving disclosure media;

2. access to supplemental web-based services, including webcasting

and real-time web postings to thousands of online services,

databases and websites, and

3. EDGARit, which enables companies to "one-stop shop" with its

convenient, value-priced service offerings.

With EDGARit, companies are able to submit documents using Business Wire's exclusive, secure order management system, Business Wire Connect. A dedicated staff of experienced editors will then convert the original documents from virtually any format, return proofs for final approval, and then electronically transmit the approved document, ensuring compliance with the SEC's statutory filing obligations.

"Our total disclosure solution enables clients to satisfy disclosure via the two platforms recognized and accepted by the U.S. Securities and Exchange Commission: the news release, and an 8-K filing," Tamraz added. "For companies seeking to augment their distribution via supplemental channels, Business Wire provides access to a full range of industry-leading webcasting and web posting/archiving services."

About Business Wire:

Founded in San Francisco in 1961 by its president, Lorry I. Lokey, veteran journalist and public relations executive, Business Wire has network access to more than 60 international and national newswires, financial information providers, and web-based news services throughout North America, Europe, Asia, Latin America, the Middle East and Africa.

With content from more than 34,000 organizations, including major U.S. corporations, Fortune 1000 and NASDAQ companies, Business Wire remains the fastest-growing and largest independent commercial newswire in the world.

The company electronically disseminates full-text news releases simultaneously to the news media, the Internet, online services and databases, and the global investment community.

Headquartered in San Francisco, Business Wire has 26 U.S. offices, Frankfurt, London and Brussels offices, and reciprocal offices worldwide.

About EDGAR:

EDGAR, the Electronic Data Gathering, Analysis, and Retrieval System, is the cornerstone of an electronic disclosure system that was developed by the SEC. Since May 1996, all public domestic companies are required to make their filings on EDGAR.

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