Coopers & Lybrand launches Tax News Network on World Wide Web.

NEW YORK--(BUSINESS WIRE)--Jan. 14, 1997--Coopers & Lybrand L.L.P. has moved its three-and-a-half-year-old Tax News Network(R) (TNN), the first on-line source of tailored tax information and analysis delivered directly to members' desktops, to the World Wide Web (http://www.taxnews.com).

"Coopers & Lybrand is dedicated to serving its public, tax and finance professionals, by building a tax community on the Web where members can reach out electronically to Coopers & Lybrand experts and industry colleagues. The Web is where the financial community has moved," said Jerry Leener, partner-in-charge, tax technology, for the international professional services firm. "In addition, TNN locates and synthesizes the tax and business information our clients need. It's truly the tax professional's home on the Web."

The Internet linkage enhances TNN services in a number of ways, he explained. The Front Page, for example, an on-line compendium of headlines and highlights from business and trade media plus analyses by Coopers & Lybrand professionals, is prepared early each morning by the TNN editorial staff and updated throughout the day. Members can set up personalized profiles to track news of their own -- and competitive -- entities on a real-time basis. Weekly round-ups are e-mailed directly to members. "This feature alone gives tax and financial professionals what they need to know about the latest developments," Leener said.

TNN members can also bypass slow-loading URLs, allowing them a tailored view of more than 400 tax and business sources on the Web and the ability to consult a comprehensive range of published tax documents and keep tabs on stock and mutual fund portfolios. They can reach out electronically to Coopers & Lybrand professionals, other experts and their peers to clarify specific issues, exchange ideas and debate the latest developments. They also can earn Continuing Professional Education (CPE) credits through TNN's on-line training programs and participate in other courses and seminars without leaving their offices.

Other useful TNN adjuncts include software applications, a directory of products and services and a job bank. Private networks such as the Tax Executive Institute's TEI On-Line and the Committee on State Taxation's COIN provide a valuable means for members of these professional organizations to interact daily and access proprietary databases.

Glenn Clemmons, tax manager, Chesapeake Corp., Richmond, Va., started using TNN in 1994 to obtain tax information to stay current and aware of tax problems and communicate easily with the company's auditors. "The service was so valuable that our treasury department also started using TNN for financial information and stock quotes," Clemmons said.

Dina Shapiro, vice president, Citibank, Washington, D.C., said, "TNN on the Web quickly locates and processes most of the tax news and information I need, minimizing the time it takes me to stay current with breaking tax developments. In my field, that's crucial."

Coopers & Lybrand established the electronic tax and business news service in 1993 to give its clients faster access to vital tax and business information. Since its inception, TNN has enlisted more than 1,500 companies, including over a third of the Fortune 1,000. The Tax News Network is available for a 30-day free trial. The annual membership fee to this on-line community of tax executives is $540.

For more information, please contact Sara Walsh, TNN marketing director, by e-mail at [e-mail] or telephone [phone].

One of the world's leading professional service firms, Coopers & Lybrand L.L.P. provides services for enterprises in a wide range of industries. The firm offers its clients the expertise of more than 16,000 professionals and staff in offices located in 100 U.S. cities and, through the global network of Coopers & Lybrand International, more than 74,000 people in 142 countries worldwide. -0-

Tax News Network is a registered trademark of Coopers & Lybrand L.L.P.

CONTACT: Stephanie Battles/Jacqueline A. Rabin/Henry P. Feintuch

KCSA Public Relations 

212/682-6565 ext. 228/213/212

212/697-0910 (fax)

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or

Maggie O'Donovan Bolton

Coopers & Lybrand L.L.P.

212/259-5358

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