NEW YORK, May 9, 2003 (PRIMEZONE) -- Stockgroup Information Systems Inc. (OTCBB:SWEB) (TSX Venture Exchange:SWB), a leading financial media and technology company, and AP Digital, a division of The Associated Press that provides news and information to interactive markets, announced today that they have signed a licensing agreement with Road Runner high-speed data service, which is owned and operated by Time Warner Cable.
As a result of the agreement, Road Runner will use AP Financial Tools, provided by AP Digital. AP Financial Tools is a suite of news, market data and financial applications powered by Stockgroup's Financial Content Software System. Road Runner will offer its customers access to these turnkey solutions, which display interactive stock quotes, charts, portfolios, technical analysis, watch lists and more.
Stockgroup's Financial Content Software System includes a suite of more than 30 proprietary financial and software tools and 100 different data sources. Stockgroup developed and configured the AP-branded applications, while AP Digital provides the business news feeds that integrate with Stockgroup's tools. The companies work together to support AP Digital's sales and marketing efforts through joint training, marketing and customer support.
"We are pleased to provide AP Financial Tools to Time Warner Cable for provision to Road Runner customers," said Thomas E. Slaughter, vice president and director of AP Digital. "These tools, powered by Stockgroup, integrate AP business news to provide a flexible, scalable financial data solution and offer reduced development time and costs for commercial customers."
Marcus New, CEO of Stockgroup said, "We have proven that we can help industry-leading customers like Time Warner Cable. Our solution retains customers by delivering scalable, critical financial information that users demand. Our objective continues to be providing our customers with the highest quality products and services at a fraction of the cost of building them from scratch. We are extremely excited about the opportunities that exist from having AP Digital as a partner in the rapidly growing field of financial application content management outsourcing."
ABOUT AP DIGITAL:
A division of The Associated Press, AP Digital offers news services containing text, photos, audio, graphics and video on a wide variety of topics to the Web and wireless markets.
ABOUT THE ASSOCIATED PRESS:
The Associated Press, founded in 1848, is the world's oldest and largest newsgathering organization, providing news content in text, audio, video, graphics and photos to more than 15,000 news outlets with a daily reach of more than 1 billion people worldwide. AP's multimedia services are distributed by satellite and the Internet to more than 120 nations. For more information about AP Digital, visit www.apdigitalnews.com. For more information about The Associated Press, please visit www.ap.org.
ABOUT STOCKGROUP:
Stockgroup Information Systems Inc. is a financial media and technology company. It is a leading provider of private labeled financial content and software solutions to media, corporate and financial services companies. Stockgroup employs proprietary technologies which enable its clients to provide financial data streams and news combined with cutting edge fundamental, technical, productivity and disclosure tools to their customers, shareholders and employees at a fraction of the cost of traditional internal methods. Stockgroup is also a provider of Public Company Disclosure and Awareness Products for publicly traded companies. Its financial Web sites including www.stockhouse.com, www.stockhouse.ca and www.smallcapcenter.com are state-of-the-art online research centers for the investment community. To find out more about Stockgroup (OTCBB:SWEB) (TSX Venture Exchange:SWB), visit our website at www.stockgroup.com
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects", "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur.
The TSX Venture has neither approved or disapproved this news release.