LONDON, 20 December, 2004 -- Thomson Financial, an operating unit of The Thomson Corporation (TSX: TOC, NYSE: TOC), and leading provider of information and technology solutions to the worldwide financial community, today announced the it has signed a significant contract with HSBC to deploy Thomson ONE for Investment Banking, the comprehensive investment banking desktop solution, combining real-time market data and news with authoritative investment banking content from industry-leading sources.

Under the terms of the three-year contact, Thomson Financial will provide Thomson ONE to HSBC’s Global Investment Banking group in London, New York, Paris and Hong Kong.

Robin Osmond, Co-Head of Global Investment Banking, HSBC commented: “We are investing extensively in our Global Investment Banking business and have put in place a world-class team. This step with Thomson Financial allows us to provide our bankers with one of the most advanced single interface global content and workflow solutions available to help us achieve our goals”.

All HSBC Thomson ONE users will share a common desktop framework and content mix combined with a configured desktop that provides workflow tools and functionality that meet the needs of both junior and senior bankers. The Thomson ONE suite of products covers the needs of the entire investment banking workflow from idea generation and prospecting, comps analysis and valuation through detailed due-diligence and client presentation.

"HSBC is a globally recognized leader in the banking community and we are extremely pleased they chose Thomson Financial as their partner for financial information technology. HSBC appreciates the value in providing its bankers with a robust financial information platform which is easily customizable for each users’ needs, so that they can better serve their clients," said Donal Smith, Chief Operating Officer - Europe, Thomson Financial.

Thomson ONE is the leading desktop for investment banking, offering a flexible framework that allows clients to combine Thomson and third-party resources with their own data and applications into a proprietary workflow solution that makes bankers more productive at generating business. Thomson First Call and I/B/E/S® Estimates, Thomson Worldscope Fundamentals, Thomson Datastream historical time series content, SDC Deals, and ShareWatch Ownership content integrates with third-parties IDC and Compustat and clients’ own data into a desktop that empowers bankers to generate pitches and win deals.

Using Thomson ONE’s open framework, HSBC has access to the following content and functionality via a single, flexible and easy-to-use desktop application:

· Microsoft Excel Add-In functionality.

· SDC transaction data - includes five years of financial transactions in capital market new issues, M&A, and loans with tear sheets for each transaction.

· I/B/E/S - detailed consensus broker earnings estimates and historical earnings data and analyses.

· Thomson Shareworld - insider, officer, institutional and mutual fund corporate holdings and transaction data.

· Thomson Analytics - essential intelligence on corporate, industry, and market financials-from historical research and statistics to five-year forecasts.

· Investext® brokerage research collection, MarkIntel® market research collection, Industry insider and morning meeting notes, domestic and international SEC and regional corporate filings and annual reports.

· Company Financials - Extel™ Cards and Worldscope Company fundamental data.

· Market Data - realtime and delayed equity pricing from Thomson Financial.

· Fixed income data.

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