To: SSP who wrote (20311 ) 1/14/2000 1:31:00 PM From: Jim Bishop Respond to of 150070
TRAC news, I know I'm posting it late, but here it is: Track Data Announces Investment in MainStreetIPO.com NEW YORK--(BUSINESS WIRE)--Jan. 14, 2000--Track Data Corporation (Nasdaq NMS: TRAC - news) announced today that it has agreed to acquire a 10% interest in MainStreetIPO.com in exchange for 375,000 shares of Track's common stock. The companies also agreed to market their services to their respective members. The closing of the transaction is subject to customary terms and conditions. MainStreetIPO.com has established a website on which corporations will be able to conduct IPOs by direct or underwritten sale to MainStreetIPO.com members in a Dutch-auction process. Bids submitted by interested investors will determine IPO pricing. The website will give any individual anywhere in the world an equal opportunity to participate in IPOs which are conducted on the site. MainStreetIPO.com's website was launched in November 1999 and is already registering more than 350 members every day. Under the agreement, all of MainStreetIPO.com's members will be pre-registered to Track's myTrack online trading and market data system. Track will offer to its members the opportunity to participate in IPOs on MainStreetIPO.com's website. After an IPO, myTrack members will be able to trade their IPO shares in their myTrack trading accounts. MainStreetIPO.com is a privately held company based in North Brunswick, New Jersey. It has agreed to merge with Dialysis Corporation of America (Nasdaq: DCAI - news), a publicly traded company. Track Data's Chairman and CEO, Barry Hertz, said, ''We are very excited about this opportunity to participate with MainStreetIPO.com in their unique website for IPO offerings. This deal will give our myTrack members the opportunity to participate in these IPOs. We made an investment in Edgar Online when they were in a similar stage of development which has proved rewarding to our stockholders.'' Joe Salvani, CEO of MainStreetIPO.com, noted, ''This alliance will be very valuable to our members. After looking at most of the major online trading firms we believe that myTrack offers the best online trading service. myTrack empowers the average individual with all the tools necessary to trade on par with any professional in the world. We believe that this is a key strategic development for MainStreetIPO.com.'' Track Data provides real-time financial market data, news, fundamental research, charting and analytical services to institutional and individual investors through dedicated telecommunication lines and the Internet. The Company also offers online trading through its myTrack Internet-based personal investment service. myTrack is an Internet-based software application that is not restricted by the limitations of an HTML website-based static system offered by virtually all of its well-known competitors such as E*Trade (Nasdaq: EGRP - news), Schwab (NYSE: SCH - news) and Ameritrade (Nasdaq: AMTD - news). myTrack delivers a continuous dynamic stream of live market data and investors' online trading activity. The system is always connected and is an order of magnitude faster than competing website-based systems. Download myTrack software or open a trading account at mytrack.com or call 1-800-myTrack. For information about myTrack's SDK, go to mytrack.com . Additional information on Track Data may be obtained by contacting Laurel Louison, Investor Relations, at 718-522-7373 or by e-mail: laurel_louison@tdc.com. MainStreetIPO.com's purpose is to democratize the IPO process by enabling any individual to bid on IPOs which are conducted on its site. The site gives any corporation the ability to perform its own self underwriting (Direct IPO) using a Dutch auction of its registered shares. The corporation is able to place its shares with the shareholders willing to bid the highest price, without paying a brokerage or underwriter fee. Additional information on MainStreetIPO.com may be obtained by contacting Denise Bertolini, Investor Relations, at 718-227-6789 or by e-mail: info@mainstreetipo.com, or by visiting its website at mainstreetipo.com . Contact: Track Data Laurel Louison, Investor Relations 718/522-7373 E-mail: laurel_louison@tdc.com or MainStreetIPO.com Denise Bertolini, Investor Relations 718/227-6789 E-mail: info@mainstreetipo.com