1. Democratization of Financial and Business Reporting Data Presented by: Susan Strausberg CEO & President – EDGAR Online, Inc susan@edgar-online.com 8th XBRL International Conference Seattle - November 4, 2003

2. About EDGAR Online Today’s Agenda 1 5 2 3 4 Drivers for companies to provide financial information in an open standard Conclusion Future Trends About the SEC EDGAR System

3. About the EDGAR System Electronic Data Gathering, Analysis, and Retrieval About the EDGAR System “Electronic Data Gathering, Analysis, and Retrieval”  Purpose: To facilitate the filing and review of mandated public company disclosures  12 years from inception to completion  May 1996 ALL US public companies required to file the majority of their disclosures electronically  Public website provides access to EDGAR data  Sarbanes-Oxley Act of 2002 accelerates time frame and types of disclosures to be filed electronically

4. Financial Information Life Cycle Capital Raising Periodic & Event Reporting (compliance) Ownership IPO’s S-1 SB Secondaries S-2 S-3 Annuals/Quarterlies 10-K, 10-Q, 8-K Def-14A Annuals/Quarterlies 10-K, 10-Q, 8-K Def-14A Institutional + Mutual Fund Holdings 13-F, N30-D Insider Trades 144 3, 4, 5

5. The Scope  12,000 public companies  2,200 institutions  8,000 mutual funds  60,000 insiders  2+ million documents  10,000 new documents/day  1,000,000 pages/day

6. Common SEC Filings Filing CategoryFilings Included in Category Form Types Annual Reports*10-K, 10-KSB (Small Business) Quarterly Reports*10-Q, 6-K, 10QSB (Small Business) IPO Filings*S-1, SB-1, SB-2, F-1 (Foreign) 424B Insider Trading*3, 4, 5, 144 Ownership*13-F, 13-G, 13 D Mergers & Acquisition*S-4, 14D-1 14D-9 Secondary Stock Offerings*S-2, F-2, S-3, F-3 Mutual Fund Filings*N-1A, N30D, 497 Proxies and Information Statements*DEF-14A Special Events - (Reg FD)8-K, 10-C, 6-K * Contain financial reports and other extractable financial data

7. About EDGAR Online Today’s Agenda 1 5 2 3 4 Drivers for companies to provide financial information in an open standard Conclusion Future Trends About the SEC EDGAR System

8. EDGAR Online Corporate Overview The trusted Internet source of timely and cost-effective business, financial and competitive information contained in SEC filings  Founded 1995, IPO in 1999  NASDAQ: EDGR  Offices:  Headquarters: Norwalk, CT  Corporate Sales Office: New York, NY  Technology Center: Rockville, MD  Over 200 distribution channels and over one million registered users  Major Markets: financial services, accounting, legal, corporate  Revenue ’99 $2M $16M in 2002, Gross Margins > 80%  Founding Member XBRL Consortium

9. APIs Displays in Excel, RTF, HTML Data Extraction Strategic relationships Full text searching Professional services Customized data FDIC/XBRL Subscriptions Internet delivery Real Time Alerts Displayed in ASCII EDGAR Online

10. Again - The Scope  12,000 public companies  2,200 institutions  8,000 mutual funds  60,000 insiders  2+ million documents  10,000 new documents/day  1,000,000 pages/day

11. SEC Data Data Mining Technology Internet Delivery Technology Enabled Content

12. Extracted Financial Data

13. EDGAR Online People Research tool that mines SEC filings and extracts proper names found within those documents. Useful in performing due diligence and prospecting.

14. Users and the Information They Seek UsersSEC Information Financial ExecutivesAccounting research, credit risk review, benchmarking, compensation, M&A activities Corporate FinanceCompany research, shareholder agreements, M&A details, joint venture and investor agreements, leads/ financing requirements LawyersCorporate legal proceeding, judgments, risk factors AccountantsFinancials AnalystsTrend analysis, company research, benchmarking Compliance OfficersFinancials, benchmarking; legal proceedings

15. About EDGAR Online Today’s Agenda 1 5 2 3 4 Drivers for companies to provide financial information in an open standard Conclusion Future Trends About the SEC EDGAR System

16. Future Electronic Disclosures  Other Federal and State Regulatory Agencies: e.g. FDIC  Continued International Expansion :  SEDAR (Canada)  EDINET (Japan)  PRV (Sweden)  Enhanced Filings – Technology and Processes  Insider File Direct (Forms 4,5)  Multimedia  XBRL  Real Time Data Products  Analytical Software

17. About EDGAR Online Today’s Agenda 1 5 2 3 4 Drivers for companies to provide financial information in an open standard Conclusion Future Trends About the SEC EDGAR System

18. Future Trends Data Publishing, Analysis and Reporting Traditional Enterprise-centric Data Provider Audience One-click information consumerPower user that takes training, (or online reader that tackles HTML tables or PDFs) Type of Data Delivered Self-serve, on-demand, within interactive (OLAP) analysis and personalized reporting functionality Preconfigured reports with static charts and graphs Type of Data Delivery Distributed widely across the Internet (Web Services) Proprietary systems and internal enterprise systems/intranets Data Volume Million-record files published online from inexpensive Web servers Terabytes protected by complex and expensive mainframes Scope of Usage Anyone with a browser and connection to the Internet Select enterprise elites

19. Drivers for companies to provide financial information in an open standard :  Reducing the cost of and time to distribute information  Communicating with previously unidentified consumers of information  Supplementing traditional disclosure practices  Increasing the amount and type of data disclosed  Improving access to potential investors for small companies.  New regulations

20. About EDGAR Online Today’s Agenda 1 5 2 3 4 Drivers for companies to provide financial information in an open standard Conclusion Future Trends About the SEC EDGAR System

21. Conclusion Susan Strausberg CEO & President – EDGAR Online, Inc (e) susan@edgar-online.com