TFS' Faulkner & Gray Unit to Expand EDI and Electronic Commerce Offerings

New York, NY-- April 12, 1999 - Thomson Financial Services (TFS) announced today that it has acquired Milwaukee-based Powell Publishing, publisher of DM Review, a monthly magazine targeted at the data warehouse and business intelligence market. This publication will be folded into TFS' Faulkner & Gray (F&G) unit, which will incorporate DM Review into its Chicago-based EDI and Electronic Commerce publishing businesses. Terms of the agreement were not disclosed.

DM Review, boasting a controlled circulation of 58,000, is the largest and fastest growing publication in the data warehouse industry. Two related and highly popular Web sites ( and are also part of the acquisition. Jack Love, president and CEO of Faulkner & Gray, explained, "The market for data warehousing software and services is experiencing explosive growth because the ability to store, update, analyze and retrieve all customer files from a single database is essential to developing successful electronic commerce businesses. As a result, DM Review immediately becomes an integral component of our electronic commerce publishing strategy."

Implementing that strategy has become the centerpiece of publishing activities at F&G. Roughly half of its 26 specialty business magazines are devoted to EDI networks and electronic commerce, including such titles as Financial Service OnLine, Insurance Networking, Health Data Management, Electronic Commerce World, ID World, Internet Retailer and Card Technology. "We have built much of our publishing business on electronic data networking magazines aimed at key vertical markets," stated Love. "As those networks begin to process transactions and payments over the Internet, they grow beyond basic EDI and become the backbone of electronic commerce. We are growing our information business in the same way."

Powell Publishing will remain in Milwaukee and become the foundation of Faulkner & Gray's newly created Business Intelligence Division. Ron Powell, DM Review's publisher, joins F&G as vice president and general manager of the new division. Powell commented, "With Faulkner & Gray's significant resources in subscription marketing, advertising promotion, magazine production, fulfillment and conference management, we have positioned the DM Review franchise to fully exploit the opportunities we see in electronic commerce."

DM Review will be aggressively marketed to subscribers and advertisers of F&G's vertical data networking publications, all of which have data management and warehousing as a key component. Powell explained, "Faulkner & Gray gives us superb access to key vertical markets for data warehousing, and DM Review gives F&G a vital technical thread to link its verticals together."

Tom Kendra, Vice President, Worldwide Data Management Sales for IBM, commented, "By providing quality coverage of the key issues surrounding the business intelligence and data warehousing market, DM Review has become required reading for strategic decision-makers in every organization. This acquisition can only make DM Review stronger by expanding its market reach and scope."

Based in New York, Faulkner & Gray is one of the country's leading publishers of specialized magazines, with leadership positions in the accounting, banking, credit and debit card, credit collections and risk management, health data management, insurance networking and mortgage industries. In addition to its 26 magazines, the company publishes more than 60 directories, operates 15 Web sites, and organizes 30 annual trade conferences and expositions.

Faulkner & Gray is a unit of Thomson Financial Services (TFS), a leading provider of information services and work solutions to the worldwide financial community. TFS, part of The Thomson Corporation (TTC), has 40 offices located throughout the world and employs more than 7,000 people dedicated to the success of its clients. With annual revenues approaching US$6 billion, TTC is one of the world's leading information and publishing companies. TTC's common shares are traded on the Toronto, Montreal and London stock exchanges. For more information, visit the TFS Web site at

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