PR Newswire set to open Euro disclosure service

In a move that may revolutionise the results process - and possibly

lead to fewer late nights for financial PROs - PR Newswire has announced

the creation of a disclosure department in Europe.



The department will offer a new, secure web interface, called

Disclose.



This works with standard commercial software to convert information to

the DIPS system, which is currently the cause of many headaches. It

plans to release the product in November.



This means that press officers who currently have to disclose

information to the Regulatory News Service should be able to send news

releases a lot more easily and quickly.



'Quoted companies need a better way to send their news releases to the

financial authorities and to reach their investors, and this new

department will continually develop such products and services,' said

Mark Hynes, head of PR Newswire's disclosure department.



The move comes as the Financial Services Authority draws up plans for a

competitive disclosure services market, which will eventually lead to

the end of the current regime, probably sometime in the middle of next

year.



PR Newswire managing director Vicky Unwin said: 'We intend to become a

mechanism for disclosure all over Europe.'



Leader, p10.



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