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MEAD DATA CENTRAL, DISCLOSURE INCORPORATED
ANNOUNCE JOINT EFFORT TO OFFER ELECTRONIC SEC DATA
DAYTON, OHIO, May 10, 1994 -- Mead Data Central and Disclosure Incorporated
today announced plans to offer jointly a series of products utilizing Securities
& Exchange Commission (SEC) filings, including data from its Electronic Data
Gathering, Analysis and Retrieval (EDGAR) system.
The two companies said the plans will cover numerous joint activities, including
the following:
-- Mead Data Central's LEXIS(R)/NEXIS(R) online services will include
Access Disclosure(TM), the Disclosure index of SEC filings which is
the only complete, editorially enhanced electronic index of all SEC
filings dating back to 1968;
-- Subscribers to the LEXIS/NEXIS services will be able to search
EDGARPlus(TM), a collection of pre-EDGAR and EDGAR-based full-text
filings, with value-added tagging and formatting by Disclosure. They
also may order electronic documents online from Mead Data Central.
-- The companies also will develop a hardcopy fulfillment option through
Disclosure's network of 15 Info Centers, which guarantee two-hour
delivery.
"With the advent of electronic SEC data, the intent of our two companies working
together will be to set the standard for creating enhanced data from the SEC
filings," said Joseph C. Rhyne, vice president of Business Information
Services (BIS) for Mead Data Central. "One of MDC's strategic objectives is
to make external alliances with companies who are the leaders in their field
of information technology. No one is stronger in SEC document delivery and
SEC online materials than Disclosure and Mead Data Central, respectively.
"Subscribers to the LEXIS/NEXIS services and to the Disclosure SEC Database
will be the beneficiaries of the most comprehensive collection of easy-to-use
SEC information."
Roger R. Bilboul, president of Disclosure, said, "Disclosure will be able to
offer the benefits of its archived collection of SEC data, particularly its
enhanced EDGAR files, to a broader base of customers who need the most
current SEC information. We can also offer to our clients the benefits of Mead
Data Central's years of experience in full-text searching capabilities."
The SEC is phasing in a requirement that reporting companies make filings
through its EDGAR service, eventually eliminating the traditional paper
filings.
To date, an estimated 3,500 corporations are filing via the EDGAR system,
and an estimated 8,000 companies will be filing by the end of this year.
All filers will be required to file electronically by 1996.
Mead Data Central and Disclosure are subcontractors on the EDGAR project.
Mead Data Central has contracts to manage the text management segment of
the project and the public dissemination of the electronic data at prices
regulated by the SEC. Disclosure has a contract to make microfilm and paper
copies of both paper and EDGAR filings for archival and public dissemination.
The products developed from the joint efforts of the two companies will be
offered through the commercial information services of each. Under terms of
their EDGAR subcontracts, both companies must purchase the electronic SEC
data in arms-length transactions at the same prices available to all other
users.
Mead Data Central, the provider of the LEXIS legal research and NEXIS business
information services, is a division of The Mead Corporation, a leader in forest
products. Both companies have headquarters in Dayton, Ohio.
Disclosure Incorporated, of Bethesda, Md., is the provider of global company
information via databases and documents. It is a wholly owned subsidiary of
VNU Business Information Services Inc., whose parent, VNU (United Dutch
Publishing Companies), is the largest publisher in the Netherlands.
# # #
NOTE: Companies interested in more information about the proposed products
should contact: John A. Cole, senior director of markets and products,
Business Information Services, Mead Data Central, (513)865-7882; or
William C. O'Conor, vice president of the Disclosure Database Division,
(301)951-1416.
Media Contacts: Judi Schultz, Mead Data Central, (513)865-7466,
judith@meaddata.com; Maureen Stevens, Disclosure Incorporated, (301)961-2769.
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