THOMSON COMPLETES ACQUISITION OF TRADEWEB

STAMFORD, Conn., May 24, 2004 -- The Thomson Corporation (NYSE: TOC; TSX:TOC) announced today that it has completed the acquisition of privately held TradeWeb Group LLC. Thomson purchased TradeWeb for $385 million in cash plus contingent payments of up to approximately $150 million over the next three years based on the achievement of growth targets.

Thomson Financial’s content and analytic tools together with TradeWeb’s fixed income expertise will provide the opportunity to extend and accelerate Thomson Financial’s penetration and reach in the growing institutional fixed-income market.

Upon close of the transaction, Jim Toffey will report directly to Sharon Rowlands, president and COO, Thomson Financial. Mr. Toffey will continue run TradeWeb and will assume responsibility for all of Thomson Financial’s fixed-income assets. In addition, current President of TradeWeb Lee Olesky will continue in his current role and report to Mr. Toffey.

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