Reuters Confirms Bid to Acquire Certain Assets of Bridge

Apr 12, 2001, 01:00 ET from Reuters

    LONDON, April 12 /PRNewswire/ -- Reuters, the global information, news and
 technology group, has submitted a bid to acquire certain assets of Bridge
 Information Systems Inc.  Bridge and certain of its affiliates filed a
 voluntary petition for reorganization under Chapter 11 of the United States'
 Bankruptcy Code with this court earlier this year.
     Reuters bid focuses on Bridge's core US institutional securities
 businesses.  These include Bridge Information Systems in North America; the
 EJV bond data and analytics business; the Bridge Trading Company brokerage
 business; the Bridge Trading Technologies and Transaction Services businesses;
 the eBridge Internet business; and an option on Bridge's interest in Savvis
 Communications.
     The current bid excludes a number of Bridge's businesses including the ADP
 and Telerate businesses; Bridge Information Systems outside of North America;
 BridgeNews; the Bridge Commodity business; and Bridge's interest in BridgeDFS.
     In accordance with the Bankruptcy Court's order, a final auction is to
 take place on April 16, 2001 with the final offer selected by Bridge to be
 submitted to the Bankruptcy Court for approval at a hearing scheduled for
 April 19, 2001, all subject to extension or modification by Bridge or the
 Bankruptcy Court.  During this time Bridge, Reuters and the other bidders may
 engage in discussions with one another, which may result in revised bids or
 other modifications.  Specific proposed terms are not permitted to be
 disclosed due to confidentiality restrictions required by the Bankruptcy
 Court.
 
     Note to editors:
 
     Reuters (about.reuters.com) premier position as a global information, news
 and technology group is founded on its reputation for speed, accuracy,
 integrity and impartiality combined with continuous technological innovation.
 Reuters strength is based on its unique ability to offer customers around the
 world a combination of content, technology and connectivity.  Reuters makes
 extensive use of internet technologies for the widest distribution of
 information and news.  Around 73 million unique visitors per month access
 Reuters content on some 1,400 Internet websites.  Reuters is the world's
 largest international text and television news agency with 2,157 journalists,
 photographers and camera operators in 190 bureaus, serving 151 countries.  In
 2000 the Group had revenues of 3.59 billion Pounds Sterling and on 31 December
 2000, the Group employed 18,082 staff in 204 cities in 100 countries.
 
     Reuters and the sphere logo are the trademarks of the Reuters group of
 companies.
 
     This news release may be deemed to include forward-looking statements
 relating to Reuters within the meaning of Section 27A of the US Securities Act
 of 1933 and Section 21E of the US Securities Exchange Act of 1934.  Certain
 important factors that could cause actual results to differ materially from
 those disclosed in such forward-looking statements are described in Reuters
 Annual Report and Form 20-F for the year ended 31 December 2000 under the
 heading 'Risk Factors'.  Copies of the Annual Report and Form 20-F are
 available on request from Reuters Group PLC, 85 Fleet Street, London EC4P 4AJ.
 
     These forward-looking statements are made only as of the date hereof and
 the company undertakes no obligation to update or revise these forward-looking
 statements whether as a result of new information, future events or otherwise.
 
 

SOURCE Reuters
    LONDON, April 12 /PRNewswire/ -- Reuters, the global information, news and
 technology group, has submitted a bid to acquire certain assets of Bridge
 Information Systems Inc.  Bridge and certain of its affiliates filed a
 voluntary petition for reorganization under Chapter 11 of the United States'
 Bankruptcy Code with this court earlier this year.
     Reuters bid focuses on Bridge's core US institutional securities
 businesses.  These include Bridge Information Systems in North America; the
 EJV bond data and analytics business; the Bridge Trading Company brokerage
 business; the Bridge Trading Technologies and Transaction Services businesses;
 the eBridge Internet business; and an option on Bridge's interest in Savvis
 Communications.
     The current bid excludes a number of Bridge's businesses including the ADP
 and Telerate businesses; Bridge Information Systems outside of North America;
 BridgeNews; the Bridge Commodity business; and Bridge's interest in BridgeDFS.
     In accordance with the Bankruptcy Court's order, a final auction is to
 take place on April 16, 2001 with the final offer selected by Bridge to be
 submitted to the Bankruptcy Court for approval at a hearing scheduled for
 April 19, 2001, all subject to extension or modification by Bridge or the
 Bankruptcy Court.  During this time Bridge, Reuters and the other bidders may
 engage in discussions with one another, which may result in revised bids or
 other modifications.  Specific proposed terms are not permitted to be
 disclosed due to confidentiality restrictions required by the Bankruptcy
 Court.
 
     Note to editors:
 
     Reuters (about.reuters.com) premier position as a global information, news
 and technology group is founded on its reputation for speed, accuracy,
 integrity and impartiality combined with continuous technological innovation.
 Reuters strength is based on its unique ability to offer customers around the
 world a combination of content, technology and connectivity.  Reuters makes
 extensive use of internet technologies for the widest distribution of
 information and news.  Around 73 million unique visitors per month access
 Reuters content on some 1,400 Internet websites.  Reuters is the world's
 largest international text and television news agency with 2,157 journalists,
 photographers and camera operators in 190 bureaus, serving 151 countries.  In
 2000 the Group had revenues of 3.59 billion Pounds Sterling and on 31 December
 2000, the Group employed 18,082 staff in 204 cities in 100 countries.
 
     Reuters and the sphere logo are the trademarks of the Reuters group of
 companies.
 
     This news release may be deemed to include forward-looking statements
 relating to Reuters within the meaning of Section 27A of the US Securities Act
 of 1933 and Section 21E of the US Securities Exchange Act of 1934.  Certain
 important factors that could cause actual results to differ materially from
 those disclosed in such forward-looking statements are described in Reuters
 Annual Report and Form 20-F for the year ended 31 December 2000 under the
 heading 'Risk Factors'.  Copies of the Annual Report and Form 20-F are
 available on request from Reuters Group PLC, 85 Fleet Street, London EC4P 4AJ.
 
     These forward-looking statements are made only as of the date hereof and
 the company undertakes no obligation to update or revise these forward-looking
 statements whether as a result of new information, future events or otherwise.
 
 SOURCE  Reuters