EDGAR Online and UBmatrix Enter Joint Venture to Develop the First Global XBRL Data Exchange, EDGAR Analyst powered by UBmatrix

SOUTH NORWALK, CT, June 17, 2002- EDGAR Online, Inc (NASDAQ: EDGR) and Universal Business Matrix, LLC (Ubmatrix, http://www.ubmatrix.com), today announced the formation of EDGAR Analyst powered by Ubmatrix, a Joint Venture that will offer to the Financial Services Industry the first Global XBRL Data Exchange of financial reports for all public companies along with a powerful set of analytical tools. EDGAR Analyst service will be offered starting November 15, 2002 on a subscription basis.

XBRL, the newly developed business-specific XML financial reporting language, is being advanced by XBRL International, the global consortium of over 160 companies including the American Institute of Certified Public Accountants (AICPA), International Accounting Standards Committee Foundation (IASCF), Institute of Management Accountants (IMA) and other major financial services, technology, and public accounting organizations. XBRL is expected to become the standard way in which companies will prepare, report, and disseminate their financial information.

"We are pleased to enter into the relationship with UBmatrix. Combining EDGAR Online's core expertise with UBmatrix will multiply benefits to customers by tightly linking our services with the world leader in XBRL technologies," commented Greg Adams CFO of EDGAR Online Inc." Initially the repository will consist of tagged XBRL statements for more than 5-years of 10K and 10Q SEC filings.

"Today represents the first step towards a centralized XBRL repository for all public companies. EDGAR Analyst will be a single source for analysts, investors, credit and lending institutions, news organizations and accountants to source company financials prepared and published in XBRL format. This Joint Venture is a good example of how partnerships and cross-pollination can expand the natural boundaries of existing markets. We are excited that we are leading this evolution," said Liv Watson, Director of XBRL for EDGAR Online, Inc.

"The EDGAR Analyst Joint Venture merges the strengths of EDGAR Online's service experience and verified data base of public company data with UBmatrix' innovative suite of XBRL software products and proprietary analytical tools to provide breakthrough services to the investment community. For the first time, all public company data will be accessible to subscribers through the Internet in an XBRL compliant Repository. Beyond providing comprehensive data services to the investment industry, EDGAR Analyst is developing extensive ratio and trend analysis tools for use with both financial and non-financial information. Our goal is to provide investors and their advisers with greater corporate transparency of all public companies," said George Blackstone, UBmatrix President.

Analysts will be able to extract, analyze, and process financial statement information more completely, less expensively and much faster with software designed for this purpose. In addition, the information will come directly from the company and can be readily exchanged among a wide variety of software applications, thereby increasing the speed at which it gets into the analysts' models.

"Investor reactions and buying decisions are often based on rumor, innuendo, and guesswork because official information comes out infrequently and after-the-fact. As management publishes more timely information, it can better control investor reaction. We applaud EDGAR Analyst for its efforts to provide a central XBRL repository that will benefit the financial community and individual public companies," said Walter Hamscher, XBRL International Steering Committee Chair.

"Edgar Analyst will fill a major need of the financial marketplace. Using the XBRL standard to create a repository of reliable data will allow immediate data comparison and analysis in the friendly environment of your desktop. Financial decisions that are often based on inadequate information will now have a reality basis of rapidly published and template-analyzed data. It is financial data democracy in action!" said Miklos A. Vasarhelyi, KPMG Professor of AIS, Director Rutgers Accounting Research Center, Rutgers University "XBRL, like other emerging open-architecture technologies, increases the overall efficiency of information exchange while reducing the related cost. The beneficiaries of XBRL include all members of the financial statement information supply chain, from preparers and distributors to aggregators and, most important, the end users. XBRL provides a robust platform for significantly enhanced assessment, extraction, and query tools for shareholders and other users," said Kurt Ramin, Commercial Director, International Accounting Standards Committee Foundation and Vice-Chairman of the XBRL International Steering Committee.

About UBmatrix
UBmatrix is the leading provider of innovative XBRL-based software, and an active member of XBRL International. UBmatrix builds business solutions that incorporate the power of the XBRL markup language, including specialized software solutions for the Financial Services Industry. The Company's demonstrated expertise in XBRL is focused on the development of cutting-edge software applications for automating the process of transforming documents into the XBRL format and providing tools for building and extending Taxonomies. Headquartered in Redmond, Washington, with offices in Los Angeles, and Santa Rosa California, UBmatrix provides software solutions for Corporations, Financial Services market, Regulators, and Governments.

About EDGAR Online Inc
EDGAR Online, Inc. is a provider of financial 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 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).

"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.

EDGAR is a federally registered trademark of the U.S. Securities and Exchange Commission (SEC). EDGAR Online is not affiliated with or approved by the U.S. Securities and Exchange Commission. EDGAR Online is a product of EDGAR Online, Inc.

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