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DTCC: Global Joint Venture to be Called Omgeo

New company's Board of Directors to be expanded as joint venture partners prepare for launch in early 2001

Boston, New York, London - January 8, 2001 - The Depository Trust & Clearing Corporation (DTCC) and Thomson Financial ESG, a unit of The Thomson Corporation, announced today that their proposed new global joint venture company (GJV), dedicated to transforming traditional trade processing into streamlined and efficient trade management, will be called Omgeo.

The two firms also announced plans to expand the Board of Directors of the new company from seven to nine members in order to accommodate two additional representatives from the global securities industry. This move to increase the total number of outside representatives on the Board to five further strengthens industry oversight of Omgeo's operations. The decision to expand the company's Board was made in response to overwhelming interest on the part of industry representatives around the globe, to participate in the governance of the new joint venture. Omgeo is now in the process of selecting the five global securities industry representatives of the nine-member Board that will govern the new company.

"With thousands of clients globally using our services in more than 39countries, Omgeo will open for business as a truly global enterprise," saidRobert J. McGrail, Managing Director and Head of New Business Ventures for DTCC,who will serve as Chairman of the new company. "It is natural that ourgoverning body would as nearly as practicable reflect this diverse and globalclient base."

The name Omgeo was formed from a combination of Latin and Greek words: "omni",in all ways or places (global) and "geo," the Greek word forearth. Omgeo (pronounced OM-gee-oh) will be a business of worldwide scope thatwill offer scalable workflow solutions that enable firms to maximize operationalperformance and return on technology investment.

"Omgeo symbolizes the combined strengths of the twocompanies that are coming together: a truly global client community as well asemployees, partners and alliances throughout the world," said P. HowardEdelstein, President and Chief Executive Officer of Thomson Financial ESG, whowill be the company's President & Chief Executive Officer. "Omgeoalso personifies our deep commitment to the global securities industry and tothe transformation of securities trade processing into a single global workflowsolution for trade management. Our vision is one, customizable solution,worldwide, for managing post-trade risk."

Omgeo's goal is to establish new levels of operational excellence in theglobal securities industry by reducing the time, information, and geographiclimitations associated with traditional methods of securities trade processing.Omgeo will make fundamental contributions to bring the global financialcommunity (custodian banks, investment managers, and broker/dealers) closertogether within a more productive, streamlined, and risk managed overall tradingenvironment.

"We are extremely pleased at the support our joint venture has receivedfrom the industry. Omgeo will help facilitate the industry's move to shortersettlement cycles around the world, including bringing to life the SIA'svision of a trade management model which will enable the move to T+1 in theU.S.," said Edelstein. "The regulatory review process is underway, andwe expect that Omgeo will be operational by the end of Q1 2001."

Last April, the DTCC and Thomson Financial announced an agreement to create a new commercial enterprise that builds on the existing trade-processing businesses of DTCC's Depository Trust Company subsidiary and Thomson Financial ESG, a unit of Thomson Financial. The new company will be structured as an equal joint venture, and will operate independently of DTCC's securities depository business and Thomson Financial.

Introduction of the new brand, as well as news of the expanded Board, are keymoves as the two companies prepare to formally launch the new entity in early2001. In parallel, DTCC and Thomson Financial ESG continue planning their globalbusiness and product strategy for delivering a single, global trade managementsolution that will help move the industry towards global STP and T+1 settlement.

About DTCC

The Depository Trust & Clearing Corporation (DTCC), with operating facilities in multiple locations in the U.S. and overseas, is a holding company for six subsidiary businesses - a depository and five clearing corporations - as well as the co-owner with Thomson Financial of a global joint venture called Omgeo. Through its subsidiaries, DTCC provides clearance, settlement and information services for equities, corporate debt, municipal debt, government securities and mortgage-backed securities in the U.S., and emerging markets debt trades globally. It is also a leading clearinghouse for mutual funds and insurance products, linking funds and carriers with distribution networks. In addition, DTCC provides custody and asset servicing for more than two million securities from the U.S. and 84 other countries. For more information on DTCC, see www.dtcc.com.

Thomson Financial ESG is the worldwide leader in providing technology-based workflow solutions to the global investment community. Thomson Financial ESG is committed to partnering with its clients to dramatically reduce the risk and cost of processing trades, thereby improving their investment performance. Thomson Financial ESG services are used in 39 countries for domestic and cross-border trading. Thomson Financial ESG supports approximately 4,000 clients from 18 offices located in major financial centres across the globe. For more information, visit the Thomson Financial ESG web site at www.thomsonesg.com.

Thomson Financial is a US$2 billion provider of e-information services and integrated work solutions to the worldwide financial community. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation (TSE:TOC), a leading e-information and solutions business with annual revenues of more than US$5.8 billion. The Corporation's common shares are listed on the Toronto and London stock exchanges. For more information on Thomson Financial, visit www.thomsonfinancial.com.

Omgeo symbolizes the combined strengths of the joint venture's globalclient community, employees, partners and alliances around the world. Itpersonifies our commitment to the global securities industry and theestablishment of a single workflow solution and platform for trade managementworldwide.

The new logo used in association with the name is an ellipse- a powerfulsymbol that conveys the universal strength, the global nature, and the valuesthat Omgeo will stand for.