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COLUMBUS, Ohio, March 26 /PRNewswire/ -- CompuServe is expanding its online personal financial services to offer individuals and families the broadest range of cyberspace tools available anywhere to manage their finances and investments. CompuServe has provided consumer financial services since 1979, with financial information provided to Wall Street since 1974.

A leading analyst group has predicted that $46 billion will be managed in cyberspace by the year 2000. Usage of CompuServe's financial products and services has shown an annual compound growth rate of 90 percent over the past five years and, in effect, usage has doubled every year. Currently, 35 percent of CompuServe(R) users manage their money and investments online.

Major consumer uses include checkbook reconciliation, record keeping and budgeting, the tax process, electronic bill paying, and credit card management. Security, privacy and ease of use are key to consumer usage. Through CompuServe, family or individual money managers can identify investment opportunities, research their options, execute investment choices and money management strategies, and monitor and manage the results.

Online Banking

Electronic banking is rapidly becoming a part of everyday life and CompuServe offers its users a level of privacy and security that is unsurpassed. A wide variety of transaction types will be available for the 85 percent of CompuServe users who use online banking services.

* An alliance between Braun Simmons and CompuServe will bring home

banking to CompuServe users through their relationship with a

number of banks.

* Security First is one of the first cyberbanks to offer FDIC-

protected transactions. Opening a bank account, paying bills,

and other banking transactions are easy to do through CompuServe.

* CheckFree and CompuServe will offer financial institutions a

branded home banking product that will include banking

applications plus Internet and Web access.

Personal Financial Management Tools

Stocks, mutual funds, money market funds, or other types of financial instruments are owned by 70 percent of all CompuServe users. Managing these investments online requires easy-to-use tools that can handle a variety of scenarios and individual solutions.

* Portfolio, licensed from the PAWWS Financial Network, brings a

comprehensive online portfolio management package including

online trading, portfolio accounting, stock quotes and news in a

totally integrated package.

* MECA Software brings a bank-branded version of Managing Your

Money to CompuServe users. One of the top financial tools for

paying bills, balancing a checkbook electronically, managing

budgets, tracking investments, and planning for long-term

financial goals, all with a direct connection to your bank.

Expanded Brokerage Services

CompuServe has tripled the number of online brokers for round-the- clock stock information and trading. National Discount Brokers and Block Financial join E*Trade Securities online and Quick & Reilly in CompuServe's financial portfolio area.

* National Discount Brokers is one of the fastest growing brokers

in the country, offering a gamut of flat-fee services. Fully

integrated financial information, quotes, portfolio accounting

and order entry is available 24 hours a day.

* Block Financial brings CONDUCTOR to CompuServe, a suite of home

banking solutions, with brokerage and credit card services to


Mutual Funds Online

Mutual funds are a hot investment tool of the 90's and 60 percent of CompuServe users have joined the mutual fund marketplace. Money magazine offers mutual fund information currently through FundWatch Online and Fund Screening, and now CompuServe offers a place to buy, sell, or exchange funds.

* Fund Trader by DST Systems, Inc. provides an interface to nearly

half of all U.S. fund families. CompuServe users will soon have

the ability to perform mutual fund transactions with

participating fund families.

CompuServe is an H&R Block (NYSE: HRB) company.

Founded in 1955, H&R Block is a diversified services company and the world's leader in tax preparation and online information services. H&R Block Tax Services handled almost one in every seven returns with the Internal Revenue Service in 1995, serving 17.1 million taxpayers in more than 9,500 offices worldwide. CompuServe operates the most comprehensive online network in the world, providing services to more than 950 corporate accounts and more than 4.7 million users in 185 countries.
 -0- 3/26/96

/CONTACT: Gail B. Whitcomb of CompuServe Incorporated, 614-538-4457/


CO: CompuServe Incorporated ST: Ohio IN: CPR ENT PUB SU: PDT

LA-BG -- CLTU020 -- 4386 03/26/96 11:53 EST
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Publication:PR Newswire
Date:Mar 26, 1996

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