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Non-Tech : CSFB Direct(DIR) -- Ignore unavailable to you. Want to Upgrade?

To: WallStBum who wrote (33)	5/25/1999 5:03:00 PM
From: KS	Respond to of 406

Hello all, I have a question...with all the managers on DIR, do you feel it will have more price support than an IPO with only 1 or 2 underwriters? See below: NEW YORK--(BUSINESS WIRE)--May 25, 1999--Donaldson, Lufkin & Jenrette, Inc. (NYSE: DLJ), announced today the pricing of 16.0 million shares of a new class of common stock that will track the performance of DLJdirect, its online brokerage business, at $20 per share. The managers of the offering were Donaldson, Lufkin & Jenrette, DLJdirect, BT Alex. Brown, Goldman, Sachs & Co., Merrill Lynch & Co., Morgan Stanley Dean Witter and Salomon Smith Barney. DLJdirect is a provider of online discount brokerage and related investment services, offering customers automated securities order placement and information and research capabilities through the Internet and online service providers. DLJdirect plans to use the proceeds from this offering to fund increases in marketing expenditures, for international expansion, to repay a note to DLJ and for other general corporate purposes. Following the offering, DLJ retains an 84 percent notional interest in DLJdirect and the public owns the remaining 16 percent. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A copy of the registration statement is available on the Securities & Exchange Commission's web site at www.sec.gov. A prospectus relating to this offering can be obtained from Donaldson, Lufkin & Jenrette, 277 Park Avenue, New York, NY 10172 or from DLJdirect at 888-456-4355. TIA, KS