EDGAR Online Endorses XBRL Committee Specification for Financial Statements

CONTACT:
Jay Sears
Senior Vice President
Strategy and Business Development
203.852.5666
sears@edgar-online.com

SOUTH NORWALK, CT, August 2, 2000 — EDGAR Online (NASDAQ: EDGR) today announced its endorsement of the XBRL for Financial Statements specification released yesterday by the XBRL committee. With the release of this specification, both public and private companies can begin to incorporate XBRL into their financial reporting processes and immediately realize some of its major benefits: a streamlined financial reporting process, technology independence, full interoperability, and reliable extraction of financial information. "XBRL helps companies, analysts, investors and other audiences to make better informed financial and management decisions and to leverage the power of the Internet to exchange financial information," said Tom Vos, President of EDGAR Online, Inc. "XBRL provides an efficient and reliable means of communicating financial information without changing existing accounting standards or requiring a company to disclose any additional information beyond that in its current financial statements."

More than 80% of major US public companies provide some type of financial disclosure on the Internet. As a result, investors need accurate and reliable financial information that can be delivered promptly over the Internet to help them make informed financial decisions. XBRL for Financial Reporting meets these needs and leverages efficiencies of the Internet as today's primary source of financial information.

The XBRL Committee also announced that several new, leading companies and organizations have joined the XBRL initiative: Dow Jones & Company; Fidelity Investments; ACCPAC International, Inc.; ACL Services Ltd; Bridge Information Systems; e-Numerate Solutions Incorporated; eLedger.com, Inc.; Financial Software Group; First Light Communications, Inc.; MIP, Inc.: Multex.com, Inc.; Oinke, Inc.; PeopleSoft, Inc.; U.S. Advisor, Inc.; Virtual Growth, Inc.; and XBRL Solutions, Inc.

XBRL Committee membership now exceeds 50 companies and organizations from around the world and is expanding globally as industry sectors and foreign jurisdictions begin development of XBRL specifications. Participants include: ACCPAC International, Inc.; ACL Services Ltd; American Institute of CPAs; Arthur Andersen LLP; Best Software; Bridge Information Systems; Canadian Institute of Chartered Accountants; CaseWare International Inc.; Crowe, Chizek and Company, LLP; Deloitte & Touche, LLP; Dow Jones & Company, Inc. (NYSE:DJ); e-content, a division of Interleaf, Inc.; EDGAR Online, Inc. (NasdaqNM:EDGR); eLedger.com, Inc.; e-Numerate Solutions Incorporated; ePartners, Inc.; Epicor Software Corporation (NasdaqNM:EPIC); Ernst & Young, LLP; Fidelity Investments; Financial Software Group; First Light Communications, Inc.; FRx Software Corporation; Grant Thornton LLP; Great Plains Software, Inc. (NasdaqNM:GPSI); Hyperion Solutions Corp. (NasdaqNM:HYSL); IBM (NYSE:IBM); Institute of Chartered Accountants in Australia; Institute of Chartered Accountants in England and Wales; Institute of Management Accountants; International Accounting Standards Committee; KPMG, LLP; Lawson Software; Microsoft Corporation (NasdaqNM:MSFT); MIP, Inc.; Morgan Stanley Dean Witter (NYSE:MWD); Multex.com, Inc. (NasdaqNM:MLTX); Navision Software; Oinke, Inc.; Oracle Corporation (NasdaqNM:ORCL); PeopleSoft, Inc. (NasdaqNM:PSFT); PPA GmbH; PricewaterhouseCoopers LLP; Reuters Group LP (NasdaqNM:RTSY); Sage Software; SAP AG (NYSE:SAP); Standard and Poor's; The Woodburn Group; U.S. Advisor, Inc.; Virtual Growth, Inc.; and XBRL Solutions, Inc.

In order to meet the rapidly increasing demand for XBRL specifications in other countries, the XBRL Committee announced its intent to form XBRL.org, an international organization to facilitate the global expansion and adoption of XBRL. XBRL.org's mission will be to develop XBRL specifications on a global scale according to the accounting principles of individual geographies and jurisdictions.

Based in Norwalk, Connecticut, with offices in Kirkland, Washington and New York City, EDGAR Online, Inc. has over 75 business-to-business clients including Reuters, Standard & Poor’s and ILX Systems as well as strategic relationships with over 250 portal, business and financial information Web sites including Yahoo!, Lycos, Inc., NBCi’s SNAP and Alta Vista, a CMGI Company. For more information, please visit the Company’s Web site at http://www.edgar-online.com/news.

"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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