Telekurs Financial: Comeback on the French market

1 January 2004

On 1 January 2004, Telekurs Financial is starting to market its products
through its new French subsidiary, which was set up in April 2003. It will
shortly be halting the supply of financial information to Fininfo.
With its extensive range of products, Telekurs (France) SAS is targeting a wide
variety of professionals who use financial and stock market data. Traditionally,
Telekurs Financial provides data to customers in the areas of asset
management, portfolio management, investment banking, brokerage, archiving
and all areas connected with financial websites. To meet their differing needs,
Telekurs (France) SAS will be marketing products ranging from structured and
encoded securities data (Valordata Feed - VDF) and market data (Market data
Feed - MDF) to display products (Telekurs iD), including the valuation pricing
service EVPS. Telekurs Financials products are based on state-of-the-art
technologies and formats such as the ISO 15022 format, which is used for the
processing product VDF and Java for the display product Telekurs iD.

Building on its initial customer base in France and Monaco (especially Citigroup, EFG-Eurofinancière d’Investissements and HSBC), Telekurs (France) SAS intends to expand rapidly in its traditional areas of business. Telekurs (France) SAS has 25 staff focusing on commercial, IT and marketing & communication activities, as well as customer support services, project development and the procurement of data on the French market, thus ensuring a particularly efficient service tailored to customers' expectations. Although Telekurs Financial has terminated its industrial and commercial agreements with Fininfo SA, it will continue to supply financial information to Fininfo for a transitional period.

Under its agreements with Fininfo SA, Telekurs Financial granted Fininfo an
exclusive marketing licence for its Finvest and FinXS display products in France and Monaco. This agreement has ended. From 1 January 2004 Telekurs (France) SAS will have the exclusive marketing rights for the most recent addition to the product range, Telekurs iD.

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