Business Wire Eliminates Membership Fee; Announces Enhanced Services at Lower Rates

Business Wire, Nov 8, 2004

SAN FRANCISCO -- Business Wire announced Monday that it is setting an industry precedent by becoming the first major commercial news service to phase out membership fees effective January 1, 2005.

According to President Cathy Baron Tamraz, Business Wire also will dramatically reduce rates on premier multimedia services and include free monitoring reports on an expanded range of circuits.

The elimination of the $120 annual membership fee is a key cost-saving for Business Wire members. Of equal importance, all membership benefits - including corporate profiles, LogoLink, "At a Glance," and ExpertSource - will remain available at no charge.

"Although we will be eliminating our membership fee, all benefits of membership remain unchanged as does our 43-year pledge to our members to deliver technological enhancements, quality service, uncompromised value and a continued commitment to excellence," Tamraz said.

"This benefit, along with our premier circuit enhancements and technological breakthroughs, clearly indicates that we are creating a paradigm shift in the newswire industry."

Business Wire also announced that it will continue to enhance its value proposition by simultaneously building upon its core strengths: technological innovation (fastest speed in the industry), disclosure expertise, editorial accuracy, customer service, and expanded global reach via exclusive news distribution relationships.

Business Wire's bold decision to end membership fees - an industry practice for a half-century - is the latest example of Business Wire redefining the industry standard. Business Wire's industry leadership includes its historic decision to end the 15-minute delay for material news announcements; retail investors now have real-time access to market-moving news as a result of Business Wire's unprecedented action.

ABOUT BUSINESS WIRE:

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

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

Business Wire electronically disseminates some 1,000 full-text news releases daily to the media, the Internet, online services and databases, and the global investment community in 150 countries in 45 languages. Business Wire has 25 U.S. offices, Frankfurt, London, Stockholm, Brussels and Sydney offices, and reciprocal offices throughout the world.