Data Broadcasting Acquires European Technology Partner, Itex -- FIT -- Limited.

Business Editors

BEDFORD, Mass.--(BUSINESS WIRE)--April 3, 2000

Data Broadcasting Corp. (Nasdaq:DBCC) today announced the purchase, effective April 1, 2000, of Itex (FIT) Limited from the Itex Group for consideration totaling approximately $12.8 million (8 million Pounds Sterling), made up of a cash payment of $11.2 million (7 million Pounds Sterling) plus relief against an accounts receivable of $1.6 million (1 million Pounds Sterling).

Itex (FIT) Limited is a service delivery agent, and software and technology partner of the Financial Times Asset Management/Interactive Data (FTAM/ID) part of DBC.

"Itex has developed our key European Internet product called FTS," said Stuart Clark, Data Broadcasting's president and chief executive officer. "This product combines customized datafeed delivery with online access and is designed specifically for the needs of the European money management community. It links into our global databases of securities information and provides a solution that allows our customers to complete timely and accurate fund administration processes."

FTS revenues have been the fastest-growing category of FTAM/ID revenue in Europe, with growth rates in excess of 50 percent for each of the past three years. Incremental Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) accruing to DBC from the transaction is expected to be in the $2.4 million to $2.6 million range in the first full year of ownership.

The FTS product is sold and supported across Europe by the FTAM/ID business and in the Channel Islands by Itex. Responsibility for development and delivery has been at Itex. Through this transaction, FTAM/ID gains full ownership of the revenues relating to FTS, the intellectual property of the product and a talented Internet-oriented development team at Itex in the Channel Islands.

"I am pleased that we have been able to acquire the Itex (FIT) Limited business," Clark said. "We have worked with this business and its people for more than 15 years, and together we have created a very successful product for our European marketplace. With FTS becoming our key FTAM/ID product for the European marketplace, now was the right time to secure ownership."

Clark added: "This acquisition is in line with our growth strategy to add selectively to our product portfolio, where such additions leverage our customer, content, technology and skills capability."

In July last year FTAM/ID acquired a group of businesses from Thomson Financial Corp. for $150 million called Thomson Financial Securities Management, and in March this year it merged with Data Broadcasting Corp.

After completion of the Itex (FIT) Limited purchase and the company's recently announced $43 million investment in MarketWatch.com, Data Broadcasting's cash position will be approximately $10 million, after implementing short-term borrowings of approximately $25 million from DBC's 60 percent majority shareholder, Pearson plc.

Itex Group is a private software company that serves institutions throughout Europe and the Asia Pacific region from its offices in the Channel Islands.

About Data Broadcasting

Data Broadcasting Corp. is the leading provider of real-time market data to the individual trader and investor. The company delivers real-time stock quotes, financial information and news to the PCs, laptops and hand-held devices of millions of users via the Internet, dedicated lines, wireless, FM, cable and satellite.

With the BondEdge service from its Capital Management Sciences division, Data Broadcasting also is the leading provider of fixed income portfolio analytics used for valuation and risk management purposes.

Data Broadcasting's Internet presence includes http://www.dbc.com, http://esignal.com, http://cbsmarketwatch.com, http://insite.dbc.com, http://bondedge.com, http://sports.dbc.com and http://www.dbceuro.com.

Data Broadcasting recently merged with Financial Times Asset Management/Interactive Data, a unit of the Financial Times Group of Pearson plc, the international media company.

Financial Times Asset Management is a leading source of comprehensive disclosure data, factor information and independent valuations for a comprehensive range of U.S. securities and offers full descriptive information on more than 1 million U.S. municipal bonds. It also collects and distributes corporate action information on equities and bonds from all over the world, specializing in "hard to get" information from emerging markets.

This news release contains forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These forward-looking statements include, but are not limited to, Data Broadcasting's results of operations or financial condition and future product, market and technology development. Factors that could cause actual results to differ materially include the response of competitors to the company's new services, acceptance of the Internet as a valid real-time distribution platform by institutional customers, activity levels in the securities markets and other risk factors listed in the company's 10-K, 10-Qs and other reports to the Securities and Exchange Commission. Data Broadcasting disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.