PR Newswire Launches Pan-European Disclosure Network

London (ots/PRNewswire) -

- New Service Will Enable European Companies to Comply With the
Transparency Obligations Directive

PR Newswire, the world's leading disclosure and corporate news
distribution service, today announced it will provide listed
companies in Europe with a disclosure service that is compliant with
the Transparency Obligations Directive, due to be implemented this
month.

PR Newswire's TOD Wire, as the new service is called, will
facilitate listed companies' compliance with the new regulations
required by TOD, while also helping them satisfy best practices in
communicating with institutional and retail investors across the EU,
according to Lisa Ashworth, CEO PR Newswire Europe.

Regulators across the European Union (EU) are beginning a
staggered implementation of the Transparency Obligations Directive
(TOD) beginning on January 20th. The first countries to implement TOD
will be the UK, Germany, France, Finland, Ireland, Malta, Portugal
and the Netherlands. TOD is the latest component of the European
Union's Financial Services Action Plan, which to date has given rise
to 39 new Directives.

TOD is part of a series of measures passed by the European
Commission designed to establish a level playing field in the
European financial services markets and brings numerous changes for
listed companies in areas such as the timing and content of annual
and interim reports and the disclosure of major shareholdings by
investors. Specifically, TOD is focused on ensuring that issuers meet
certain minimum standards of disclosure when disseminating
price-sensitive news and information. Paramount to this mandate is
that information be disseminated throughout the European Union in a
manner that supports simultaneous delivery, thereby providing
institutional and retail investors, the media and the general public
equal access to material news the moment it is announced.

As the only corporate news distributor on the Committee of
European Securities Regulators (CESR) Consultative Working Group on
the Transparency Obligations Directive (TOD), PR Newswire has played
a critical role in shaping the EU's forthcoming directive. With
limited guidance from regulators as to the requirements of TOD in
some member states, listed companies may find it difficult to
determine what is needed to comply. To assist with this, PR Newswire
has taken the lead in developing its TOD Wire, which will include
dedicated links to the major equity terminals, key European financial
websites and newspapers in all 27 EU member countries. This extensive
network will help ensure customer compliance and enhanced coverage of
time sensitive and business critical news, and further strengthens PR
Newswire's global position as the market leader in the investor
relations and media communications industries.

In December 2006 PR Newswire announced a partnership with Les
Echos, the leading French financial newspaper and website
(Lesechos.fr), to assist French companies in their compliance with
the new European regulations. The Les Echos partnership is one of
many PR Newswire has developed. Other notable partners include; OMX
the Nordic and Baltic Stock Exchange, news aktuell the German news
agency DPA's commercial arm, ANP the Dutch News Agency and Belga the
Belgian news agency.

Mark Hynes, PR Newswire's managing director of Global Investor
Relations Services, said, "When the European Union first proposed the
Transparency Directive, PR Newswire took the initiative to counsel
those involved in drafting the legislation on the importance of
promoting widespread disclosure. Today, as the European Union
prepares for the TOD, PR Newswire has again assumed a leadership
position by offering a means for companies throughout the EU to
disseminate information on both a local and wide scale basis."

About PR Newswire

Now in its 53rd year, PR Newswire (http://www.prnewswire.com and
http://www.prnewswire.co.uk) provides electronic distribution,
targeting, measurement and broadcast services on behalf of tens of
thousands of corporate, government, association, trade, non-profit,
and other customers worldwide. Using PR Newswire, these organisations
reach a variety of critical audiences including the news media, the
investment community, government decision-makers, and the general
public with their up-to-the-minute, full-text news developments.

PR Newswire has offices in 11 countries and routinely sends its
customers' news to outlets in 135 countries and in more than 40
languages. Utilising the latest in communications technology, PR
Newswire content is considered a mainstay among news reporters,
investors and individuals who seek breaking news from the source. PR
Newswire is a subsidiary of United Business Media plc of London.

LONDON, January 20 /PRNewswire/ --

ots Originaltext: PR Newswire
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Media Contacts: Rachel Meranus, Director Public Relations
+1-212-282-1929 or email rachel.meranus@prnewswire.com. Samantha
Proctor, Head of European Marketing, PR Newswire Europe
+44-20-7454-5115 or email samantha.proctor@prnewswire.co.uk. For full
information on PR Newswire products and services email
marketing@prnewswire.co.uk or go to www.prnewswire.co.uk