Chairman's Letter

Dear Fellow Shareholders:

The financial services industry, both in the U.S. and other industrial countries, is increasingly characterized by stringent reporting requirements. Government regulators require businesses to submit many more financial reports than ever before in order to comply with existing, as well as newly contemplated, government regulations. The sales climate for our products is expanding, and I believe that we will successfully avail ourselves of the enormous business opportunities that I see for our company.

Over the last 12 months, we have expanded our commitment to XBRL in order to meet the future requirements of the SEC's Interactive Data initiative. Critical to the adoption of XBRL is the establishment of robust taxonomies that enable companies to easily make the transition. As a leader in XBRL taxonomies, we are well positioned to monetize our efforts.

EDGAR Online's recently enhanced I-Metrix suite of products is currently providing our growing list of customers with access to our automatically updated XBRL database. This database contains the financial results of every U.S. and foreign corporation that is required to file its financial information with the SEC's EDGAR system. We have also added company information from the two Chinese stock exchanges giving our users access to the broadest and deepest Chinese fundamental data available anywhere. A growing number of I-Metrix seats and XBRL tagged data delivery systems are already in use at several of the largest U.S. corporations and investment firms.

Of further importance, we have created a platform that sits under our I-Metrix fundamental data suite of products collecting, extracting, tagging, databasing, and rendering the content for publication in assorted formats. Our platform also provides screening and analysis tools, and is fully scalable to support other content and distribution operations. Since our systems rely on technology and automation, the speed of delivery of our enhanced data is superior to any other data in the marketplace. The productization of this platform adds another level of scalability to our business model.

It is our expectation that EDGAR Online's current balance sheet, with more than $3.5 million in cash now available to invest in our future, provides us with the financial strength to market the world's most timely and comprehensive database of vital fundamental data, sell this information in a cost effective fashion and leverage our platform to new markets.

This is my final shareholder meeting as Chairman of EDGAR Online. I am very proud of the achievements of our team of dedicated professionals, many of whom have been with us since the founding of the company twelve years ago. There have been many changes in the environment for financial information over the past twelve years. I am pleased that we have played an important role in those changes and confident that EDGAR Online will continue to have a significant impact on the future of financial information.

As a shareholder, I look forward to the new opportunities ahead, and I will continue my involvement by becoming Chairman Emeritus following this annual meeting.

Sincerely,

Marc Strausberg
Chairman of the Board

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