Michael Becker Named Manager, Global Disclosure and Financial Reporting

Business Wire, Sept 23, 2004

NEW YORK -- Michael Becker has been elevated to the position of manager, global disclosure services and financial reporting, a move that reflects Business Wire's expansion into XBRL-related projects and other advanced investor relations initiatives, Cathy Baron Tamraz, president, announced today.

The promotion rewards Becker's key role in Business Wire's emergence as a "total disclosure solution" for publicly traded companies anxious to fulfill their listing obligations.

Becker has led Business Wire's successful entry into international disclosure markets. In the United Kingdom, for example, Business Wire is the "fastest growing" regulatory news service. Business Wire is actively exploring similar opportunities in the European Union, and other global financial centers.

In addition, Becker has spearheaded Business Wire's rapidly expanding EDGARit service, which has proven to be extremely popular among listed companies seeking a seamless solution to their statutory electronic filing requirements. Business Wire today is the third largest filer of 8-Ks to the SEC's EDGAR system.

In his new role, Becker will assume responsibility for Business Wire's adoption of XBRL (eXtensible Business Reporting Language), which is quickly emerging as the global standard in financial reporting.

The U.S. Securities and Exchange Commission announced last July that it would consider accepting voluntary filings of XBRL financial data as a means to evaluate the benefits of tagged data. The European Commission has allocated one million euros to an industry consortium promoting XBRL's standardization among the region's regulatory regimes.

"Michael has been extraordinarily successful in tackling any assignment that has been delegated to him," said Tamraz. "We're confident that Michael will keep Business Wire at the forefront of the industry shift to XBRL, as well as future technology-driven opportunities."

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.