FT.com to launch improved website with new content and services for users, subscribers and advertisers

London, 30 April 2002, FT.com today announced details of an improved website with new content, data, tools, navigation and services, and new subscription packages for its 2.7 million monthly unique users. The new site will go live in May.

The majority of FT.com, including the latest news and data will remain free. For the first time, subscriptions will be required to obtain access to some of FT.com’s most valuable services. New innovative services – including a preview of key pages of the FT newspaper the night before publication, a powerful new search tool and in-depth information on 18,000 companies – will form part of the ‘paid for’ subscription packages.

Andrew Gowers, Editor of the Financial Times commented:

"FT.com is already a wonderful source of news, analysis and background information. That is why we have 2.7 million unique users, making us the most popular audited business website in the world. The upgrade we will unveil next month will make our site even better.

"All of our users will benefit from a redesign aimed at clarifying the structure of our site, making FT.com simpler and faster to navigate. At the same time, we will begin charging for some of the most valuable parts of our site, including new features such as Lex live notes written and published online during the day. Since I became editor six months ago, I have lost count of the number of times business leaders have praised FT.com, but, in the next breath, asked me why on earth we don’t charge for at least part of our excellent online offering. Shortly, we will begin doing precisely that."

Latest news, data, tools and seven-day archive remain free to users.

The majority of the content and services that have made FT.com the world’s most popular audited business website will remain free

These include:

• Latest news and data;

• Selections from the week’s analysis and comment, including one Lex comment per day;

• Interactive share charting and portfolio management tools;

• Daily news by email;

• Searchable 7 day archive from the FT and FT.com;

• Company reports and analyst recommendations;

• Real-time news for the private investor from FT Investor;

• Personal finance news and services from FT YourMoney;

• Interactive data on past performance, charges and risk profiles of 17,000 funds from FT FundRatings;

• Careers advice and services from FTCareerPoint.

Subscription packages provide powerful business analysis, research and intelligence services

Two levels of subscriptions will be available to FT.com users.

Level 1 costs £75 per annum, and will include;

• All FT journalism – including full access to the Lex column, including Lex Live with 2 notes posted on the site by 1pm (GMT)

• The FT archive – 5 years of FT news and features;

• Power Search – fast, intelligent information retrieval;

• FT Surveys - in depth reports on countries, industries, markets and trends;

• Industry insight – briefings on your choice of industries, including news by e-mail;

• View print edition – online access to key pages from the FT newspaper, including a view of the front page the night before publication;

• The Personal Office organising system;

Level 2 will cost £ 200 per annum, and also includes two new professional standard research and monitoring tools;

• World Company Financials – in depth information and financial data on 18,000 listed companies across 55 countries;

• World Press Monitor & Archive – fast access to 12 million articles from over 500 of the world’s top media sources;

The upgraded website will offer advertisers new precision targeting opportunities. Advertisers can now target users in a variety of highly specific ways, including by geography, editorial content, industry, and demographics. New rich media formats are now also available for advertisers.

Zach Leonard, Chief Operating Officer at FT.com commented:

“The business model for online news and data used to be built around either advertising or subscription revenues. Our business model combines the best of both approaches.

“We’ve committed that FT.com will break even by the end of this year, and it will – even without the benefits of the additional revenues that our new subscription services will generate. We think they could account for up to 10% of FT.com’s total revenues this year and go on to be a meaningful part of our mix of advertising, ecommerce, syndication and subscription revenues.”

Introductory discount offers will be available at launch to FT.com users and subscribers to the Financial Times newspaper.

According to the latest ABCe audit, FT.com attracts 55 million monthly page views and has 2.7 million monthly unique users. 46 % of FT.com’s users are based in the UK, with 25 % in the US, 15 % in Continental Europe, 8 % in Asia Pacific and 6% from the rest of the world.

Notes

1. The new FT.com is scheduled for launch in May. The launch date will be announced shortly. A tour of the new site and its subscription services is currently available at: www.ft.com/sitetour.

2. FT.com has 2.7 million unique monthly users and 55 million monthly page views. In 2001, FT.com’s losses accounted for approximately half of the FT Group’s internet losses of £60 million. FT.com is expected to break even by the end of this year.

Contact

Joanna Manning-Cooper: 0207 873 4447
Anoushka Healy: 0207 873 3720