Thomson Acquires RAW Communications. Strengthens Thomson Financial Product Offering to Corporate and Investment Management Communities in Europe

LONDON, 20 May, 2004 – Thomson Financial, an operating unit of The Thomson Corporation (NYSE: TOC; TSX: TOC), and leading provider of information and technology solutions to the worldwide financial community, today announced that it has acquired RAW Communications. Financial terms of the transaction were not disclosed.

London-based RAW Communications is Europe’s leading provider of Webcasting services. For corporations, RAW Communications webcasts events, such as results presentations and other critical communications with the investment community and for leading institutional brokers, RAW covers daily morning meetings. RAW Communications serves approximately half of the FTSE 100 companies, which utilize Webcasting for their investor relations (IR) communications, and is one of the leading providers of IR Webcasting services in France, Italy and the Nordic region. The company’s unique Webcasting services for sell-side institutions help facilitate greater communication with their buy-side clients.

RAW Communications’ Webcasting services will be enhanced through Thomson Financial’s unparalleled distribution and established buy-side community of institutional users through access to the Thomson ONE application suite, Thomson StreetEvents and Thomson First Call.

"The acquisition of RAW Communications is consistent with our strategic focus to provide premium content and analysis to the worldwide financial community, and premium services to corporations seeking to access that community," said Donal Smith, Chief Operating Officer Europe, Thomson Financial. "RAW Communications’ Webcasting services to the corporate and sell-side communities, combined with Thomson First Call and the activities of the recently acquired CCBN business, such as Thomson StreetEvent, will facilitate more direct and efficient communications between corporations, the buy-side and the sell-side."

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