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Non-Tech : Web Street Securities (WEBS) -- Ignore unavailable to you. Want to Upgrade?

To: Deeber who wrote (1245)	2/14/2000 3:35:00 PM
From: Tech Master	Respond to of 1339

US Clearing is history soon. See below: Tuesday January 4, 11:05 am Eastern Time Company Press Release Web Street Securities, Inc. Files to Become a Self-Clearing Organization Will Facilitate Expansion into After-Hours Trading and Increased International Operations DEERFIELD, Ill.--(BUSINESS WIRE)--January 4, 2000-- Web Street Securities, Inc., an innovative online brokerage firm and wholly-owned subsidiary of Web Street, Inc. (Nasdaq: WEBS - news), today announced that it has filed with the National Association of Securities Dealers (``NASD') to become a self-clearing brokerage firm. Web Street's self-clearing operations are expected to commence during the second quarter of calendar 2000. As a self-clearing brokerage firm, Web Street expects to offer its customers several benefits including after-hours trading, lower margin rates and increased trading opportunities for international customers. The Company's clearing operations will be housed at its new facilities in Chicago and will be supported by an additional state-of-the-art data center, which is currently under construction in the Southwest, for enhanced redundancy, processing and system back-up. Joseph J. Fox, Chief Executive Officer of Web Street, Inc. stated, ``We firmly believe this initiative is a 'win-win`` situation for our customers and our shareholders. Establishing the firm as a self-clearing organization will be a catalyst for our international growth strategy currently underway in Europe, Asia and Latin America. We also expect that the conversion to self-clearing will result in lower clearing costs and higher net interest income for the Company.' Mr. Fox concluded, ``Becoming a self-clearing operation will not only allow our customers increased opportunity to trade after-hours and invest internationally, but it will also enable Web Street to offer additional complementary online investment products and services. The establishment of our self-clearing operation is one part of our growth strategy of increasing our online financial services offerings for our customers while expanding our international presence and operations.' Web Street, Inc., based in Deerfield, Illinois provides online brokerage services to individual investors in the United States, Europe, the Pacific Rim and Latin America, through its wholly-owned subsidiary, Web Street Securities, Inc., which was founded in 1996. Web Street was rated four stars by Barron's in 1998 and 1999, as well as ranked as one of the top 3 online brokers in March 1998 and March 1999 by SmartMoney. Web Street offers 24 hours a day customer service, low-price commissions, and real time account information via multiple channels - online, touch-tone telephone, person-to-person via telephone, and face-to-face onsite through its existing and future brick-and-mortar branches. Certain information included in this news release (as well as information included in oral statements or other written statements made or to be made by Web Street, Inc.) contains statements that are forward-looking, such as statements relating to anticipated future revenues of the company and the success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Web Street, Inc.