July 12, 1999 10:21
DLJdirect and Dow Jones & Company Announce Agreement to Provide Real-time Dow Jones News Service to Selected DLJdirect Customers
JERSEY CITY, N.J.--(BUSINESS WIRE)--July 12, 1999--DLJdirect Inc. (NYSE: DIR), the online brokerage service of Donaldson, Lufkin & Jenrette, Inc. (NYSE: DLJ), and Dow Jones & Company (NYSE: DJ) announced an agreement to provide real-time Dow Jones Newswires
material to selected DLJdirect customers beginning today. The agreement marks the first time that Dow Jones Newswires content has been offered on a real-time basis to customers of an online broker.
Dow Jones Newswires maintains a dedicated global team of more than 800 editors and reporters, delivering more major stories than any other financial newswire. Each day, more than 300,000 subscribers worldwide count on Dow Jones Newswires as an accurate source of breaking industry and regional news, earnings reports, corporate disclosures, exclusive CEO interviews and reports on events affecting world financial markets.
The news to be provided will include a selection of content specially designed for online investors from the Dow Jones News Service, also known as the "Ticker," the leading financial newswire in the U.S. This news will be provided to all DLJdirect customers that either maintain
a minimum account balance of $100,000 or have accrued $1,000 in trade commissions over the preceding twelve-month period. DLJdirect will pay Dow Jones for the service on a per-customer basis. To introduce this new feature, DLJdirect will preview the service to its entire active
customer base for a period of 30 days.
Paul Ingrassia, president of Dow Jones Newswires, said "This agreement opens up an entirely new business arena for Dow Jones Newswires: the provision of our real-time news directly to serious investors who are not financial professionals. This is yet another way in which the
Internet is creating new opportunities, and new markets, for Dow Jones news. We're very pleased to be entering this field by an agreement with DLJdirect, thus extending our relationship with our long-time financial customer, DLJ."
"In terms of speed, accuracy and coverage, Dow Jones Newswires is a first-rate source of financial news and market activity," said Blake Darcy, Chief Executive Officer of DLJdirect. "As a complement to our existing resources and services, the added capability of Dow Jones
real-time news affords our customers a powerful tool in managing their financial lives."
About DLJdirect and Donaldson, Lufkin & Jenrette
A subsidiary of Donaldson, Lufkin & Jenrette, DLJdirect is one of America's premier online brokerage firms. Since 1988, the company has executed over $52 billion in online transactions. Today, DLJdirect has more than 600,000 customer accounts and serves approximately 90,000
daily visitors to its Web site. For more information on DLJdirect, refer to the 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 Web site at www.dlj.com.
About Dow Jones & Company
In addition to the Dow Jones Newswires, Dow Jones & Company publishes The Wall Street Journal and its international and Interactive editions, Barron's and SmartMoney magazines and other periodicals, Dow Jones Indexes, and the Ottaway group of community newspapers. Dow
Jones is co-owner of Dow Jones Reuters Business Interactive LLC and of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC in the U.S.
CONTACT: Dow Jones Media Contact: Richard Tofel
(212) 416-2951
dick.tofel@dowjones.com
or
Dow Jones Investor Contact: Valerie Gerard
(212) 416-2687
valerie.gerard@dowjones.com
or
DLJdirect Media Contacts:
Linda Finnerty Jonathan Mairs
DLJdirect Inc. Edelman Worldwide
(201) 413-3187 (212) 704-4504
lfinnerty@dljdirect.com jonathan_mairs@edelman.com
DLJ/DIR Investor Contact:
Kevin Zuccala
Donaldson, Lufkin & Jenrette
(212) 892-4693
dowjones.com
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