Press Release

WALTHAM , Mass. – (Apr. 18, 2007) – Wolters Kluwer Financial Services today announced the release of CCH ® Capital Changes Compass, a daily newsletter that highlights the latest corporate actions events, organizing them by type of transaction. This powerful tool supplements the existing CCH Capital Changes Daily product, which provides tax and financial services professionals with legal, tax and accounting analysis, and vital commentaries on U.S. and international corporate actions.

Developed with the client in mind, Compass utilizes a unique classification system that breaks down corporate actions into eight major categories and corresponding sub-categories to help subscribers i dentify specific corporate actions for prioritized action. Each day, Compass provides subscribers with the corporate actions events, such as mergers and acquisitions, distributions, reorganizations, offers, liquidations, bankruptcies, derivatives and return of capital. The alerts are delivered in a PDF format via e-mail, and work with CCH Capital Changes Daily to provide a detailed description of the corporate action event or transaction, as well as commentary to help subscribers understand the key rationale and structure of the corporate action and how it will impact investors from a tax perspective.

“As corporate actions become more complex, there is a growing need for financial and tax professionals to access information that is accurate, current and comprehensive,” said Peter Berkery, director of Securities Compliance Solutions at Wolters Kluwer Financial Services. “Compass meets this need by providing a daily workflow tool, while saving these individuals the time and money it would take to classify this information on their own.”

Compass divides information into three different categories:

• Critical Alerts:  Includes special interest items for readers and important basis and fair market value information.



• Transactional Alerts:  Focuses on the timeline of pending and completed transactions, as well as those that are effective but not completed yet.



• Audit Alerts:  Provides related tax and international information.

CCH Capital Changes, a part of Wolters Kluwer Financial Services, is a leading tax authority for U.S. and global corporate actions. With more than 100 years of data coverage, financial services firms rely on CCH Capital Changes for its cost basis tracking and legacy of unparalleled legal, tax and accounting analysis of corporate actions.  The vast archive of corporate actions coverage found in CCH Capital Changes ranges from value-add tax analysis, commentaries and opinions to gains or losses resulting from taxable transactions and adjustments

About Wolters Kluwer Financial Services

Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, GainsKeeper®, CCH® Capital Changes, NILS INSource®, AuthenticWeb™, CCH Wall Street and GulfPak. Wolters Kluwer Financial Services’ solutions include integrated and stand-alone compliance and work flow tools, documentation, analytics, authoritative information, and professional services. Customers include banks, credit unions, mortgage lenders, securities, and insurance organizations of all sizes throughout the United States. For more information on Wolters Kluwer Financial Services, visit www.WoltersKluwerFS.com. Wolters Kluwer Financial Services is a unit of Wolters Kluwer, a leading global information services and publishing company with annual revenues (2006) of €3.7 billion and approximately 19,900 employees worldwide. For more information, visit www.wolterskluwer.com.