Co-Inventor of Verity’s Concept-Based Technology Joins EDGAR Online Key Post to Drive Corporate Business

SOUTH NORWALK, CT, May 10, 2000 — EDGAR Online, Inc. announced today that it has appointed Lee A. Appelbaum, a pioneer in retrieval technology, as its Director, Knowledge Management. Appelbaum will oversee design and development of custom knowledge management systems for the Company’s corporate clients. EDGAR Online, Inc. (NASDAQ: EDGR) is the leading business-to-business and Web-based provider of business, financial and competitive information derived from U.S. Securities and Exchange Commission data.

“Lee puts EDGAR Online in the position to deliver a new generation of customized knowledge management solutions to our corporate clients,” said Susan Strausberg, CEO of EDGAR Online, Inc. “He has more than 20 years of experience in the design and deployment of mission-critical knowledge management systems.” Mr. Appelbaum is best known as the co-inventor of the concept-based approach to text retrieval adopted by Verity, Inc. (NASDAQ: VRTY). Over the past 12 years, Verity has implemented that approach in its product family to become a leading supplier of custom information solutions to hundreds of major old-economy and new-economy corporations. The advanced Full Text Search feature announced by EDGAR Online late last month is Verity-powered.

Prior to joining EDGAR Online Mr. Appelbaum was vice president of Tarragon Consulting Corporation of Berkeley, CA. He worked there with the other co-inventor of the concept-based approach to text retrieval, Dr. Richard M. Tong. Tarragon Consulting provided consulting and custom knowledge management solutions for such clients as Inktomi Corporation (NASDAQ: INK), Dow Jones (NYSE: DJ), Bristol-Myers Squibb Company (NYSE: BMY), CitiCorp’s Salomon Smith-Barney, Information Access Company and the Defense Technical Information Center. Mr. Appelbaum also was a founder of Sageware, Inc., and has held positions at Advanced Decision Systems, Booz-Allen & Hamilton and GTE Government Systems.

About EDGAR Online, Inc.

EDGAR Online, Inc. (http://www.edgar-online.com and http://www.freeedgar.com and http://www.ipo-express.com) is the leading business-to-business and Web-based provider of business, financial and competitive information derived from U.S. Securities and Exchange Commission data. Additional services include value-added functions like IPO Express, a service that provides easy-to-use, detailed information on IPO filings, pricings and performance, EDGAR Online People (http://www.edgar-online.com/people), a service that allows users to conduct research on corporate executive and directors, and EDGAR Online Personal, which provides real-time alerts, and other personalized advanced searches of SEC data.

Based in Norwalk, Connecticut, with offices in Kirkland, Washington and New York City, EDGAR Online, Inc. has more than 50 business-to-business clients, including Reuters (NASDAQ: RTRSY), Standard & Poor’s (NYSE: MHP) and ILX Systems as well as strategic relationships with over 175 portal, business and financial information Web sites including Yahoo! (NASDAQ: YHOO), Lycos, Inc. (NASDAQ: LCOS), Infoseek's GO Network (NASDAQ: SEEK), CNET's SNAP (NASDAQ: CNET), Alta Vista, a CMGI Company (NASDAQ: CMGI), PointCast, Infospace (NASDAQ: INSP), CBS MarketWatch (NASDAQ: MKTW), SmartMoney.com (NYSE: DJ), Business Wire, Track Data (NASDAQ: TRAC), MSNBC Microsoft (NASDAQ: MSFT) and NBC/General Electric (NYSE: GE). For more information, please visit the Company’s Web site at http://www.edgar-online.com/news.

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"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. EDGAR Online, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by EDGAR Online, Inc. with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the online business and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, risks in connection with our recent acquisition and other acquisitions which we may consummate in the future, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies.

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