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Three DBT Directors Resign.

BOCA RATON, Fla.--(BUSINESS WIRE)--July 2, 1999--

DBT Online, Inc. (NYSE: DBT) announced that in connection with today's earlier announcement that DBT intends to file a registration statement with the Securities and Exchange Commission in early August for an underwritten public offering of all the Common Stock owned by Hank Asher, DBT also announced that three directors have resigned.

The directors are Jack Hight, a member of the Board of Directors of INDAR Corp., a company controlled by Mr. Asher; Thomas J. Quarles, Senior Vice President, General Counsel and Director of INDAR; and Sari Zalcberg, CEO of LaGrande Trunk, Inc., a retail concern, and Mr. Asher's sister. INDAR is an Internet storage and retrieval company for direct-marketing companies that was started by Mr. Asher in 1998. Charles A. Lieppe, DBT President and CEO, thanked the three former directors for their contributions to DBT's success.

Mr. Lieppe said the sale of Mr. Asher's shares would complete the Company's orderly separation from Mr. Asher. In 1997, Mr. Asher resigned as President and CEO, and in November 1998 he resigned from the Board of Directors. Mr. Asher received what became his shares of DBT common stock in 1996 in exchange for merging his majority-owned company Database Technologies, Inc. with Patlex Corporation, which was then reorganized into DBT Online. DBT has gone on to acquire three other companies in the online anti-fraud, anti-crime information industry.

About DBT Online, Inc.

DBT Online, Inc. (www.dbtonline.com) is the fastest growing nationwide provider in the new market for online investigative information services. Qualified businesses, such as insurance companies and financial institutions, as well as law enforcement and government agencies turn to DBT's AutoTrackPLUS(SM), AutoTrackXP(SM), and www.autotrackxp.com online services, as well as DBT's other custom solutions, to solve more crimes, locate people and assets faster, and detect and prevent fraud more efficiently. With more than 23 terabytes of capacity, DBT's database is one of the country's largest depositories of public records combined with other information. DBT currently has more than 15,000 subscribers, including investigators at more than 1,400 federal, state, and local law enforcement agencies. DBT also provides its services to several non-profit organizations to assist their search efforts.

For the first quarter ended March 31, 1999, consolidated revenues and royalties increased 32% to $16.4 million and net income increased 19% to $1.9 million or $0.10 per share on a diluted basis. DBT's Electronic Information Group operating income rose 82% on revenue growth of 38% as DBT continued to strengthen its investments in marketing and sales and research and development while building overall operating margins. For the year ended December 31, 1998, consolidated revenues and royalties increased 43% to a record $54 million and net income increased 12% to $7 million or $0.35 per share on a diluted basis. Electronic Information Group's revenues grew 52% while DBT invested in its new data centers and entered new markets to fuel future growth.

Forward-Looking Statements: Information contained above with respect to the Company's Results of Operations, regarding expected future events and financial results, is forward-looking and subject to risks and uncertainties. Those statements are forward-looking statements within the meaning of Section 31E of the Securities Exchange Act of 1934. The following important factors could affect the future results of the Company and could cause those results to differ materially from those expressed in the forward-looking statements: (i) the ability to manage DBT's rapid expansion, (ii) protecting DBT's proprietary technology, (iii) impact of future government regulation on the availability of public records, and (iv) the extent, timing and success of competition from other database providers.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 2, 1999
Words:606
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