Free to Fee Program Drives New Corporate Sales for EDGAR Online, Inc.

Expanded Product Line Generates New Sales

SOUTH NORWALK, CT, May 29, 2001 - EDGAR Online, Inc. (Nasdaq: EDGR) is generating new corporate sales revenue as a result of its "Free to Fee" program on its Internet Web sites. The company specializes in real-time business, financial and competitive information derived from U.S. Securities and Exchange Commission data and development of financial and business system solutions.

Since May 3rd when the company started restricting free commercial usage on its retail Web sites accessed by investment banks, Fortune 1000 companies, consulting firms and others, EDGAR Online, Inc. has seen the highest four week growth rate in corporate commercial seat-based sales since the company's founding in November 1995. Over 150 firms have entered into corporate site licenses since May 3rd including Bank One, Charles Schwab, Deloitte & Touche, Fleet Bank, KPMG, Moody's, Skadden, Arps and Wells Fargo. These sales are a complement to EDGAR Online, Inc.'s corporate data and custom ASP sales that currently provide over 75% of the company's revenue.

"Our range of financial information products and solutions has expanded significantly since many of our customers first began using our retail service and we are in communication and sales mode to evangelize about these new opportunities to our customers," said Susan Strausberg, CEO of EDGAR Online, Inc. "Now we can go back to these banks, consultancies and others and offer them commercial seat-based licenses, wholesale xml or hosted data or complete customized ASP solutions."

Expanded Product Line

EDGAR Online, Inc. now sells an expanded product and service line to the corporate market. This includes a variety of EDGAR-based data including ownership data, fundamental data, insider data, IPO data, EDGAR data, sophisticated concept identification products and other customized applications as well as third party data such as quotes, charts and news feeds necessary to complete any offering. The company also now acts as a developer of financial and business system solutions on behalf of its clients such as the work done for The Nasdaq Stock Market, Inc. The product line is supported by a staff of over 80 technologists.

About EDGAR Online, Inc.

EDGAR Online, Inc. is a provider of business, financial and competitive information derived from U.S. Securities and Exchange Commission data and a developer of financial and business system solutions. Based in Norwalk, Connecticut, with offices in Rockville and Baltimore, Maryland, Kirkland, Washington and New York City, the company sells to the corporate market and Internet portals as well as running destination Web sites including EDGAR Online (http://www.edgar-online.com).

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