DOW JONES EXTENDS LEADERSHIP AS BUSINESS INFORMATION PUBLISHER; SETS NEW INDUSTRY STANDARD WITH TRANSFORMED BUSINESS ONLINE SERVICE.

PRINCETON, N.J.--(BUSINESS WIRE)--May 14, 1996--Dow Jones announced today the launch of a completely new version of Dow Jones News/Retrieval,(R) with expanded content, a completely redesigned, sophisticated, yet easy-to-use interface, and a new transaction-based pricing structure which offers free searching and free headlines. Dow Jones News/Retrieval is an online news and information service designed to provide fast answers to tough business questions, with a couple of mouse clicks, in a massive compilation of more than 55 million documents and information on more than 10 million companies.

"Business people want answers-fast," says Dorothea Coccoli Palsho, president of Dow Jones Business Information Services (BIS). "This completely new Dow Jones News/Retrieval gives our customers a strategic advantage through convenient access to logically presented information from sources they trust. We'll use much of what we've learned in this effort in our work on the World Wide Web and other distribution platforms."

New Interface

In the past, one of the biggest barriers to using conventional research services has been the complexity of the interface. The new Dow Jones service is designed so that all business people, regardless of their familiarity with online research services, can navigate easily and quickly, and be satisfied with the information they find. At the same time, sophisticated search commands and in-depth content required by professional searchers remains available at any time; they can use the familiar, expert-level functionality that they have used for years.

"The answer to any business question is never more than a few mouse clicks away," says Tim Andrews, editor-in-chief of online services for Dow Jones BIS. "Our goal was for the service to be completely clear to the customer." In fact, users of the pre-launch version of the service have confirmed that the company has achieved its goal. When surveyed, 94% found it effortless to navigate through and control the software.

The new re-engineered interface is so successful at "surfacing" the comprehensive content contained in the Dow Jones service that even current Dow Jones customers were surprised. "Over and over, in focus groups, customers said, 'Wow-I never knew Dow Jones had that information! When can I have a copy of the new software?'" says Josie Ottman, director of product marketing for Dow Jones BIS. "We know we have a real winner on our hands."

Unequaled Content

"Our research told us that what people wanted-whether they were professional searchers or business people-was fast answers to the tough questions that they face every day," says Ms. Ottman. "How do I grow my business? Should we buy that company? What is the risk? What is our competition up to now? The new interface makes it easy to answer these questions, by providing access to an unmatched collection of publications and data contained in the Dow Jones service."

There are more than 55 million documents contained in more than 3,000 sources, information on more than 10 million private and public companies, and quotes from every major financial exchange in the world. Dow Jones is the only service offering the combination of the same-day full text of The Wall Street Journal(R), The New York Times, Los Angeles Times, and Financial Times. In fact, Dow Jones offers 48 of the top 50 newspapers, with more full-text newspapers available than on other comparable services.

The new Dow Jones service is backed by one of the largest, most respected editorial organizations in the world. Dow Jones has over 1,000 editors and reporters working on stories as they unfold. In the Business Information Services division, a dedicated editorial team works on prioritizing, indexing, rewriting, and editing the stories that are incorporated into Dow Jones News/Retrieval.

Mick Luce, a financial analyst for PacifiCorp Financial Services, who has been using an early version of the new service, confirms that "Dow Jones News/Retrieval is the best source for historical and current news on companies. It's easier than any system I've used."

The new version of Dow Jones News/Retrieval is organized into six sections:

-- Current News provides continuously updated daily and

intraday news selected by Dow Jones editors, and brings

Dow Jones customers the most complete news and

information from respected national, international,

regional, and local newspapers and newswires. More than

9,000 new items are added to the service from the many

newswires and news publications every day. In addition,

continuously updated news on six industries is selected

by editors from the thousands of items flowing into the

newsroom.

-- Search News and Articles offers one-button access to the

Dow Jones Publications Library containing more than 55

million documents from more than 3,000 sources, including

newswires, newspapers, magazines, trade journals, and

transcripts-all of which can be searched using a single

search statement. Business, trade and industry

publications in the Dow Jones Publications Library, most

available in full text, include leading trade journals on

everything from advertising to wildlife, artificial

intelligence to textiles, communications to medicine.

Results of most searches are retrieved in five seconds or

less.

-- Track News and Articles is a news tracking service that

automatically alerts customers to news on companies,

industries, and other subjects of interest throughout the

day from more than 2,600 news, industry and trade

publications. Subscribers to Dow Jones CustomClips(R) can

now select from more than 1,200 topics folders,

preconfigured by Dow Jones online editors to track news

relevant to a particular industry or discipline. The

topics folders are an excellent way for any business

person to investigate a new market. Subscribers can also

create topics of their own in seconds by using keywords

and search statements. Stories can be read on-screen or

delivered to a subscriber via e-mail or fax.

-- Company and Industry Data provides information on more

than 10 million private and public companies from around

the world. Customers can select from reports created by

Dow Jones that present company information in varying

degrees of detail. A new feature is the ability to screen

for firms that match a subscriber's financial or industry

criteria, then generate a comprehensive report. This is a

powerful prospecting tool for salespeople, business

planners, and investors.

In addition, subscribers can choose from a number of other sources that have earned a reputation for providing accurate company and industry information, including reports from Standard & Poor's, Dun & Bradstreet, Investext Analysts Reports, SEC filings, Disclosure, and Media General. In-depth fundamentals include 10Ks, 10Qs, and annual reports.

-- Quotes and Market Data offers a comprehensive look at

current, historical, and international funds, futures,

commodities, and quotes. It provides essential

information for anyone who monitors the markets to track

competitors and investments. Every major exchange in the world

is covered. A new portfolio feature lets customers enter

their holdings, check current pricing, and be alerted to

news about their investments as it happens.

-- Career and Travel offers career management advice through

The National Business Employment Weekly(R) and detailed

information about flights and lodging through the popular

Official Airline Guide (OAG). This section also includes

the Petersen's college selection service and a searchable

32,000-article encyclopedia.

New pricing model

Customer research revealed three basic requirements of pricing online news and information. "It had to be simple and predictable," says Ms. Ottman. "And searching had to be free."

Dow Jones is now the only online research service that does not charge for searching. The search and the resulting headlines are free. All other services charge a monthly fee, connect fee, or communications charges.

The new Dow Jones service features a transaction-based pricing model. "This type of structure makes it easy for customers to purchase just what they need when they need it," says Ms. Ottman. Individual articles in the Publications Library are priced at $2.95 per article. Experienced searchers who would rather view the lead paragraph or "keyword-in-context" paragraph pay only $2.00 each. Citations are $1.00 each. There is a one-time start up fee of $29.95 associated with Dow Jones News/Retrieval, and after the first year, an annual fee. Company and Industry data provides company reports starting at $1.25 per report. Subscribers can screen to identify companies by 24 criteria, or search individual databases like Disclosure, where all reports on a given company are $19.95. Dow Jones also offers flat-fee pricing plans for enterprise accounts.

The new Dow Jones News/Retrieval will be available by early July 1996. For more information about Dow Jones News/Retrieval, contact Dow Jones Customer Service at 1-800-369-7466, extension 60, or access the company's home page at http://bis.dowjones.com.

Dow Jones Business Information Services is the electronic publishing arm of Dow Jones & Company, Inc. that provides business and financial news and information products, including Dow Jones News/Retrieval and The Wall Street Journal Interactive Edition(R), to corporations, consumers and private investors through a variety of electronic media: computer, telephone, facsimile and radio.

Dow Jones also publishes The Wall Street Journal(R) and its international editions, Barron's" magazine and other periodicals, electronic information services, including those of Dow Jones Telerate and Dow Jones Financial News Services, and the Ottaway group of community newspapers. Dow Jones also produces business television programming internationally and video news delivered to desktop computers.

CustomClips is a service of Dow Jones News/Retrieval. Dow Jones News/Retrieval, The Wall Street Journal, CustomClips, Barron's, World Equities Report, The Wall Street Journal Interactive Edition, and The National Business Employment Weekly are registered trademarks or service marks of Dow Jones & Company, Inc. All other products mentioned are the trademarks of their respective companies.

CONTACT: Fran Kelly

Miller/Shandwick Technologies

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[e-mail]

or

Paul Bell 

Dow Jones Business Information Services

[phone]

[e-mail]