Bridge Information Systems Confirms Reuters as Auction Winner

Apr 30, 2001, 01:00 ET from Bridge Information Systems Inc.

    NEW YORK, April 30 /PRNewswire/ -- Bridge Information Systems Inc.
 (BRIDGE) today confirmed that Reuters, the global information, news and
 technology group, has submitted the highest and best bid to acquire certain
 BRIDGE assets, and that BRIDGE's board of directors has approved the bid.  The
 purchase price for the assets included in Reuters' bid is $275 million.
 BRIDGE said that the U.S. Bankruptcy Court in St. Louis is scheduled to hear
 the sale motion on Thursday, May 3.
     Reuters' bid includes the following businesses: Bridge Information Systems
 in North America, the EJV bond data and analytics business, the Bridge Trading
 Company brokerage business, Bridge Trading Technologies, the eBRIDGE Internet
 software enabling business on a global basis and the CRB Index, a measure of
 U.S. commodity prices.
     Reuters has also undertaken to make available data and intellectual
 property to potential purchasers of Telerate, and to provide certain interim
 financing to both BRIDGE and Savvis (Nasdaq:   SVVS), on terms to be agreed,
 until closing.
     David Roscoe, BRIDGE president, said, "After an intensive auction process,
 Reuters' bid ultimately offered BRIDGE the best opportunity to maximize the
 value of these assets and, just as importantly, ensure that clients continue
 to have access to the integrated state-of-the-art BRIDGE services and
 technology they have come to depend on."
     BRIDGE said that it continues discussions with other parties regarding the
 remaining parts of its operations.
 
     About BRIDGE
     BRIDGE, together with its principal operating units, Bridge Information
 Systems, Telerate(R), Inc., eBRIDGE(SM), Bridge Trading, and BridgeNews, is
 one of the world's largest providers of financial information and related
 services including trading, transaction, e-commerce, Internet and wireless
 technologies.
     BRIDGE information products include a wide range of workstations, market
 data feeds and web-browser-based applications, combined with comprehensive
 market data, in-depth news, powerful analytic tools and trading room
 integration systems.  BRIDGE, with over a quarter of a million users in over
 65 countries, is headquartered in New York City with the BRIDGE Trading and
 Technology center in St. Louis, and major regional centers in Europe, the
 Middle East, Africa, and the Pacific Rim.  For more information visit the
 BRIDGE web site at http://www.bridge.com.
 
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SOURCE Bridge Information Systems Inc.
    NEW YORK, April 30 /PRNewswire/ -- Bridge Information Systems Inc.
 (BRIDGE) today confirmed that Reuters, the global information, news and
 technology group, has submitted the highest and best bid to acquire certain
 BRIDGE assets, and that BRIDGE's board of directors has approved the bid.  The
 purchase price for the assets included in Reuters' bid is $275 million.
 BRIDGE said that the U.S. Bankruptcy Court in St. Louis is scheduled to hear
 the sale motion on Thursday, May 3.
     Reuters' bid includes the following businesses: Bridge Information Systems
 in North America, the EJV bond data and analytics business, the Bridge Trading
 Company brokerage business, Bridge Trading Technologies, the eBRIDGE Internet
 software enabling business on a global basis and the CRB Index, a measure of
 U.S. commodity prices.
     Reuters has also undertaken to make available data and intellectual
 property to potential purchasers of Telerate, and to provide certain interim
 financing to both BRIDGE and Savvis (Nasdaq:   SVVS), on terms to be agreed,
 until closing.
     David Roscoe, BRIDGE president, said, "After an intensive auction process,
 Reuters' bid ultimately offered BRIDGE the best opportunity to maximize the
 value of these assets and, just as importantly, ensure that clients continue
 to have access to the integrated state-of-the-art BRIDGE services and
 technology they have come to depend on."
     BRIDGE said that it continues discussions with other parties regarding the
 remaining parts of its operations.
 
     About BRIDGE
     BRIDGE, together with its principal operating units, Bridge Information
 Systems, Telerate(R), Inc., eBRIDGE(SM), Bridge Trading, and BridgeNews, is
 one of the world's largest providers of financial information and related
 services including trading, transaction, e-commerce, Internet and wireless
 technologies.
     BRIDGE information products include a wide range of workstations, market
 data feeds and web-browser-based applications, combined with comprehensive
 market data, in-depth news, powerful analytic tools and trading room
 integration systems.  BRIDGE, with over a quarter of a million users in over
 65 countries, is headquartered in New York City with the BRIDGE Trading and
 Technology center in St. Louis, and major regional centers in Europe, the
 Middle East, Africa, and the Pacific Rim.  For more information visit the
 BRIDGE web site at http://www.bridge.com.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X54234947
 
 SOURCE  Bridge Information Systems Inc.