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To: TraderAlan who wrote (7364)	5/25/1999 9:23:00 AM
From: TFF	Read Replies (1) \| Respond to of 12617

LEADING PRIVATE EQUITY FIRMS INVEST $300 MILLION IN DATEK ONLINE HOLDINGS CORP. New York, NY - May 25, 1999 - - Datek Online Holdings Corp. announced today that Vulcan Ventures Inc., Group Arnault, and TA Associates have agreed to invest a combined total of $300 million for a minority stake in the company. Credit Suisse First Boston served as the placement agent for this transaction, one of the largest private equity investments in a technology company ever recorded. Terms of the deal were not disclosed. “This is a transformative event for our firm that will have profound financial and strategic benefits. The investment will enable us to realize the significant opportunities that exist in the online space today,” said Edward J. Nicoll, president of Datek Online Holdings Corp. Vulcan Ventures Inc. of Bellevue, Washington is Paul G. Allen's investment organization and focuses on companies which offer products, services or technologies that fit his Wired World strategy. Paul Allen co-founded Microsoft Corp. Group Arnault is the private holding company of French businessman Bernard Arnault and controls LVMH Moet Hennessy Louis Vuitton, the #1 luxury goods group in the world. Over the past few months, Group Arnault has emerged as one of the most active Internet and e-commerce financiers. Recent investments include I-collector, the online auctioneer, and BOO.com, the on-line sports and active-wear retailer. TA Associates is a leading private equity investment firm in the technology and financial services industries. The firm manages $2.5 billion of capital, raised from university endowments, public and corporate pension funds, and foreign investors. Datek Online Holdings Corp., formed in 1998, is a pioneer in the rapidly developing financial services industry. The firm, based in Iselin, NJ, wholly owns Datek Online, the fourth largest online brokerage; Big Think, an Internet software development group; and has an interest in The Island ECN.