WOLTERS KLUWER TENDER OFFER FOR LOISLAW; CO. ACQUIRES INFO ASSETS FROM IHS.

Wolters Kluwer North America (Chicago, IL) has entered into an agreement to acquire LoisLaw.com (Van Buren, AR) for approximately $95 million, or $4.3545 per share of outstanding common stock (closed at $4.19 on Dec. 22). Holders of 67% of the shares, including company founder and ceo Kyle Parker, have already agreed to tender their shares.

LoisLaw will become a part of legal, business and health care information provider Aspen Publishers (Gaithers--burg, MD). The acquired company provides primary and secondary source material for legal research delivered via online subscriptions. It provides over 2200 databases and citation research services, with more than 10 million documents covering federal case law, statutory law, administrative law, court rules and related legal information for all federal and state levels. Major products include the "LawWatch" and "Globalcite" database and Web site search services.

The company also produces Loislaw school.com for faculty and students in 95% of ABA accredited law schools. Most of Loislaw's subscribers are small and mid-sized law firms, corporate legal departments and judges. The company has 400 employees and projected 2000 sales of $14 million. Kluwer said that Loislaw is expected to pass the break-even point at operating profit (EBITDA) level in 2001 and that it expects the tender offer to be completed by spring of 2001. The transaction will be funded through internal resources, Kluwer said.

Aspen has projected annual 2000 sales of $150 million and produces a range of books, newsletters, CD-ROMs and online services for the legal, corporate and education markets. Kluwer said the acquisition "strengthens Aspen's ability to move rapidly ahead with online delivery of its existing proprietary legal content.

In related news, Wolters Kluwer North America has purchased the assets of IHS Financial Information, Inc. (IHSFI) from IHS Group (Englewood, CO). No terms were given.

IHS Financial Information provides information, software and related products to assist financial service organizations in complying with business laws and regulations. Targeted to attorneys, compliance officers, auditors and managers in the banking, securities and credit industries, IHSFI's online services feature information covering: federal, community and state banking; securities regulations; global capital market regulations; credit unions; and the Securities Arbitration Commission, Inc.-IHS online Arbitration Award databases.

The acquired assets will become a part of CCH, Inc.'s (Riverwoods, IL) Business and Finance Group (BFG) which tracks and reports on federal and state law for the securities, banking, insurance and capital changes markets. BFG products include Federal Securities Law Reports and Federal Banking Law Reports in print, "CCR Internet Research Network" and "NILS' INSource on the Web" via online access, and related software.