NEWS......
POMPANO BEACH, Fla., Jan. 22 /PRNewswire/ -- Visual Data Corp.
(Nasdaq: VDAT) announced today it launched a new product that offers public
companies an inexpensive means to broadcast their analyst conference calls
live, via the Internet, making them available to the investing public, the
media and anyone with Internet access throughout the world. Responding to
regulatory concerns about limited disclosure by public companies about
information discussed during such conference calls, Visual Data designed its
new product to solve this problem.
"Securities regulators have increasingly voiced concerns that regularly
scheduled conference calls held by public companies with analysts and money
managers may contain information that is not immediately available to all
investors and therefore could be construed as selective disclosure," said
Randy Selman, president of Visual Data. He continued, "To address these
concerns, Visual Data is offering an affordable solution to public companies
that enables them to simultaneously broadcast conference calls via the
Internet to help insure that they are in compliance with applicable laws."
The audio "Webcast" service, at approximately $600 per one-hour conference
call, will be available to all publicly traded corporations. The Webcast can
also be archived for audio replay for an additional fee. Like the live
Webcast, the archived material can be accessed via a company's own web site.
Visual Data said this new service will be sold by PR Newswire. According
to Selman, Visual Data is uniquely equipped to offer the service at affordable
prices because of its world-wide audio and video network, use of the most
current Internet technology and Webcast expertise. Selman continued, "PR
Newswire, with 33,000 customers, is the world's largest electronic distributor
of full-text press releases to the media and financial community and is well
positioned to market this service."
Visual Data is a one-stop source for all Internet-related, multi-media
creation, production, hosting and distribution. Other Internet broadcast
competitors depend upon outside vendors to supply many of the services that
Visual Data offers.
"Corporations using the Visual Data service will substantially reduce the
risk of accidentally running afoul of regulatory and marketplace rules in the
United States and abroad which prohibit selective disclosure of market-moving
or other material information," concluded Selman.
The conference call broadcasts are part of a broader partnership agreement
between PR Newswire and Visual Data that provides PR Newswire's customers with
live video and audio event broadcast capabilities via the Internet. Visual
Data also is PR Newswire's exclusive provider of its Video News Wire(TM)
service.
Visual Data Corporation, founded in 1993, specializes in the production,
marketing and distribution of full-motion visual information via the Internet
and various media, including interactive television. The Company also
develops full-motion video libraries containing concise vignettes on a wide
range of topics from business information, travel and education to health,
fitness, medicine and consumer products.
This press release contains forward-looking statements which involve
numerous risks and uncertainties. Actual results, performance or achievements
could differ materially from those anticipated in such forward-looking
statements as a result of certain factors, including those set forth in the
Company's fillings with the Securities and Exchange Commission.
SOURCE Visual Data Corp.
-0- 01/22/99
/CONTACT: Randy Selman of Visual Data Corporation, 954-917-6655; or
Richard Stern of Stern & Co., 212-888-0044, for Visual Data Corp./
(VDAT)
CO: Visual Data Corp.; PR Newswire
ST: Florida, New York
IN: CPR MLM PUB
SU: PDT LIC
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Regards
A.G. |
