August 31, 1999 10:22
DLJdirect Begins Offering Online Brokerage Services
in the UK; Firm Also Announces Plan to Offer US
Investing for UK Residents
JERSEY CITY, N.J.--(BUSINESS WIRE)--August 31, 1999--DLJdirect (NYSE:
DIR), the online brokerage service of Donaldson, Lufkin & Jenrette, Inc. (NYSE:
DLJ), announced today it has begun offering online brokerage services to
individual investors in the United Kingdom. The overseas opening is the firm's
second this year, following the establishment of DLJdirect SFG Securities Inc. in
Japan this past June. DLJdirect UK is a wholly owned division of Donaldson,
Lufkin & Jenrette International.
Investors can access DLJdirect UK via the Internet 24 hours a day, seven days a
week at www.dljdirect.co.uk/ or speak with Securities and Futures
Authority-registered investor services professionals toll-free at 0800 358 4477 from
8:30 a.m. to 5:30 p.m. on business days. DLJdirect UK charges investors a 1.0
percent commission on all trades up to (pound)2,500 (US$3,976.13)(a) with a
minimum of (pound)15 (US$23.86). Trades exceeding (pound)2,500 in value are
charged at a rate of 0.5 percent for the next (pound)2,500 and 0.1 percent
thereafter.
"UK investors value instantaneous access to the market, customizable
information in the form of news and portfolio tools, and competitive pricing," said
Blake Darcy, Chief Executive Office of DLJdirect. "Like its US counterpart, we
believe serious investors will find DLJdirect UK to be the most complete package
of resources and services they need to manage their finances." DLJdirect also
announced that by October 1999, UK residents will be able to trade US securities
through www.dljdirect.co.uk/.
A subsidiary of Donaldson, Lufkin & Jenrette, DLJdirect is one of America's
premier online brokerage firms with more than 650,000 customer accounts
representing $13.3 billion in assets. For more information on DLJdirect, refer to
the company's world wide web site at www.DLJdirect.com.
Donaldson, Lufkin & Jenrette is a leading integrated investment and merchant
bank serving institutional, corporate, government, and individual clients. DLJ's
businesses include securities underwriting; sales and trading; investment and
merchant banking; financial advisory services; investment research; venture
capital; correspondent brokerage services; online, interactive brokerage services;
and asset management. Founded in 1959 and headquartered in New York City,
DLJ employs approximately 8,700 people worldwide and maintains offices in 14
cities in the United States and 11 cities in Europe, Latin America, and Asia. The
company has two classes of common stock trading on the New York Stock
Exchange. Shares trading under the ticker symbol DLJ represent Donaldson,
Lufkin & Jenrette, Inc. Shares trading under the ticker symbol DIR track the
performance of DLJdirect, Inc., its online brokerage business. For more
information on Donaldson, Lufkin & Jenrette, refer to the company's world wide
web site at www.dlj.com.
(a) Exchange rate, 1.59 US dollars per British Pound, as of close of
business 08/30/99.
CONTACT: DLJdirect Inc.
Linda Finnerty, 201/413-3187
lfinnerty@dljdirect.com
or
Edelman Worldwide
Jonathan Mairs, 212/704-4504
jonathan_mairs@edelman.com
or
Investor contact:
Donaldson, Lufkin & Jenrette
Kevin Zuccala, 212/892-4693 |
