Built Using Microsoft's Suite of Technology Products, Thomson First Call
Analyst Delivers Real-Time, Institutional-Quality Content Sets Via a Single,
Customizable Platform

New York, NY, June 20, 2002 -- Thomson Financial, an operating unit of The
Thomson Corporation (NYSE: TOC; TSX) and leading provider of information and
technology solutions to the worldwide financial community, today announced
its has joined forces with Microsoft Corp. to create integrated research and
analysis solutions for institutional investment managers. The Thomson First
Call Analyst application, built from Microsoft's suite of technology
products, provides buy-side institutional money managers integrated access
to an array of Thomson content sets, including First Call research and
morning notes, global analyst estimates, Datastream historical pricing and
charting, Worldscope company accounts data, Carson Institutional holdings
data and ILX equity pricing, while also allowing customers to publish and
integrate their own internally generated research and proprietary data sets.

Using .Net, Thomson Financial is able connect numerous streams of internal
and external content to create a seamless, concise powerful analytical tool.

"Thomson Financial is known to its customers as having industry-leading data
and information, combined with speed of delivery and superior technology,"
noted Jeff Scott, chief technology officer at Thomson Financial. "When
deciding how to integrate Thomson Financial's data, analytics and services
so that clients benefit from one seamless platform, Microsoft's technology
-- most significantly .NET -- was the right choice."

"Microsoft sees .NET and web services playing a major role in the future of
the financial services industry, " said Kenny McBride, Microsoft's global
industry manager for capital markets. "Thomson Financial's choice for their
integrated workflow solutions demonstrates how .NET brings together varied
content and functionality into one seamless whole.
Thomson Financial's ability to provide seamless connectivity between their
suite of products ensures that they enhance their standing as a leader in
financial services."

"This alliance is a win-win as it reduces cost and complexity for Thomson
Financial, and allows us to deliver our best-of-breed content on a single
platform," said Suresh Kavan, president, Thomson Financial's Investment
Management Group. "Investment managers win as they now can streamline their
securities analysis and research workflow - a tremendous benefit to help
them reach superior investment decisions."

Microsoft and Thomson Financial are collaborating on a number of initiatives
in messaging, database technology, desktop product integration and systems
development. Microsoft .NET's rich, built-in support for Web Service access,
and the component-centric Smart Client framework, combined with Thomson
Financial's extensive content and analytical services, provides a robust,
customizable solution on the money manager's desktop.

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