(COMTEX) B: Track Data Announces Selling Program for Its Holdings in
B: Track Data Announces Selling Program for Its Holdings in Innodata Common
Stock
NEW YORK, Dec 7, 2000 (BUSINESS WIRE) -- Track Data Corporation (Nasdaq:TRAC)
announced today that it has established a selling program pursuant to Rule
10b5-1 with respect to its stock holdings in Innodata Corporation (Nasdaq:INOD).
Track Data presently owns 1,148,482 shares of common stock of Innodata
Corporation which it has held since its initial investment in 1988. Track
currently plans to sell 20,000 shares of Innodata common stock each month. Track
may terminate this plan at any time. All share and per share amounts are subject
to any future stock splits.
Barry Hertz, Track Data Chairman and CEO, said, "Although we strongly believe in
the future performance of Innodata, we have held Innodata stock for many years
and believe that selling some of these shares will benefit Track shareholders by
realizing cash on this long-term investment. The proceeds of these sales will be
utilized in promoting the myTrack online trading and market data services, as
well as for other corporate purposes."
Jack Abuhoff, Innodata President and CEO, commented, "We believe this program
will benefit Innodata shareholders by providing an orderly and disclosed
intention of selling a relatively small number of shares per month, while adding
more liquidity to the marketplace for Innodata shares. We fully support Track's
decision to sell these shares and believe it to be in the best interests of
Innodata shareholders."
Track Data is a New York-based financial services company that provides
real-time financial market data, news, and research to institutional and
individual investors through dedicated telecommunication lines and the Internet.
For individual investors, Track offers myTrack, a fully integrated,
Internet-based online trading and market data system. myTrack's direct access
online trading has commissions starting at $12.95 per trade and allows users the
choice of where to route their orders. myTrack's continuous, dynamic stream of
live market data is powered by application-based software and a constant server
connection similar to systems used by professionals, making it faster than the
HTML web-based static pages offered by most of its competitors, such as Schwab
(NYSE: SCH), Ameritrade (Nasdaq: AMTD), and TD Waterhouse (NYSE: TWE). In
addition to all the free data supplied to myTrack users -- streaming delayed
quotes, company news, charting for technical analysis, and a proprietary library
of intra-day market statistics -- myTrack users can choose from a selection of
paid data and research, including streaming real-time quotes and Nasdaq Level
II. myTrack offers access through PCs, browser phones, and PDAs, such as Palm
Organizers (made by Palm Inc. (Nasdaq: PALM) and Visors (made by Handspring
(Nasdaq: HAND)).
myTrack offers the first week of trading commission-free. To open a trading
account, go to mytrack.com or call 1-800-myTrack.
For additional information about Track Data, please contact Laurel Louison,
Investor Relations, at 718/522-7373 or by e-mail: laurel_louison@tdc.com.
CONTACT: Track Data
Laurel Louison, 718/522-7373 (Investor Relations)
laurel_louison@tdc.com
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