Business Wire Announces Sarbanes-Oxley Compliance Package

Business Wire, Jan 30, 2003

Business Editors

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SAN FRANCISCO--(BUSINESS WIRE)--Jan. 30, 2003

Business Wire announced today that it is the only international media relations wire service with full in-house capabilities to both disseminate earnings news releases to disclosure media and convert and format EDGAR filings to meet requirements under Section 409 of the Sarbanes-Oxley Act.

Section 409, adopted on January 15 by the Securities & Exchange Commission, requires that on Form 8-K public companies furnish earnings releases and similar announcements publicly disclosing material non-public information for completed quarterly or annual fiscal periods. The new rule will apply to earnings releases and similar announcements made after March 28, 2003.

"Business Wire makes it easier for public companies to incorporate the SEC's new disclosure requirements and reporting deadlines into their compliance procedures," said Cathy Baron Tamraz, president of the company. "Our EDGARit 8-K Combination package was designed to seamlessly disseminate earnings releases via the newswire and then instantaneously convert them into an ASCII 8-K filing -- cost effectively and rapidly. And having everything in-house facilitates the process and makes it more secure."

The cost of a Business Wire's 8-K Combination is $175 plus newswire distribution and it enables Business Wire members to satisfy all of their compliance needs in minutes with no hidden fees.

Business Wire provides members with a PDF version of their 8-K for approval and they receive a confirmation email when their filing has been received by the EDGAR system at no additional charge.

Business Wire features the industry's fastest ASCII standard turnaround time and unparalleled customer service.

In November 2001, Business Wire became the first commercial news service to offer publicly traded companies a total disclosure solution with the launch of EDGARit. 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.

ABOUT BUSINESS WIRE:

Business Wire was founded in 1961 by its chairman/CEO, Lorry I. Lokey, veteran journalist and public relations executive.

Business Wire's multi-channel delivery network provides real-time, simultaneous access to key audiences -- the news media, trade publications, institutional and individual investors, business-to-business decision-makers and consumers.

The company electronically disseminates some 1,000 full-text news releases daily to the news media, the Internet, online services and databases, and the global investment community. Business Wire has network access to some 60 international and national news agencies, financial information providers, and Web-based news services throughout North America, Europe, Asia, Latin America, the Middle East and Africa.

Business Wire has 26 U.S. offices, plus Frankfurt, London and Brussels offices, and reciprocal offices worldwide.

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