PR Newswire today extended its support for the U.S. Security and Exchange Commission's (SEC) ruling that will require domestic and foreign issuers to submit their primary financial statements and footnotes in eXtensible Business Reporting Language (XBRL).

(Logo: http://www.newscom.com/cgi-bin/prnh/20000306/PRNLOGO )

"Today's ruling by the SEC heralds a new era for business communications as XBRL offers the potential to revolutionize how financial data is transmitted and analyzed," stated Scott Mozarsky, chief strategy and development officer, PR Newswire. "In our estimation, the integration of XBRL will create significant productivity gains and offer benefits for everybody who utilizes financial data in their occupation or daily lives, from analysts, portfolio managers and corporate officers to individual investors and the media."

According to the SEC's mandate, XBRL filing will follow a phased approach starting with the 500 largest US and foreign companies (defined as those with a worldwide public float of $5 billion or higher). Reporting for the first group of companies would be required on or after June 15, 2009, with XBRL submission to EDGAR and on the company's own corporate web site. All other domestic and foreign filers would begin filing in XBRL over a phased, two-year schedule.

In anticipation of the SEC's XBRL ruling, PR Newswire and its EDGAR filing firm, Vintage Filings, have already completed the tagging process and created extended taxonomies for a number of companies, and initiated a program that allows PR Newswire members to familiarize themselves with XBRL-based EDGAR filing and tagging requirements. PR Newswire and Vintage will continue to work closely with its members to ensure that they are fully equipped and prepared for the SEC's mandatory filing date.

PR Newswire will also leverage its work as an XBRL activist to provide education services and industry insight to its customers. Since 2003, PR Newswire has been a member of XBRL-US, the U.S. based arm of XBRL International. Over the course of PR Newswire's affiliation with XBRL-US, individuals at the company have assumed leadership positions within the organization and have been instrumental in leading its efforts to advance the adoption of the technology.

Mozarsky continued, "Our long-standing involvement with XBRL-US and the integration of Vintage Filings into the PR Newswire suite of services gives our members an important leg up in complying with the SEC's mandate. Going forward, PR Newswire will to continue to expand our XBRL offerings and provide additional services that will enable our clients to reap the full rewards of this groundbreaking technology."

About XBRL

XBRL (Extensible Business Reporting Language) is a royalty-free, open specification for software that uses XML data tags to describe financial information for public and private companies and other organizations. XBRL benefits all members of the financial information supply chain by utilizing a standards-based method with which users can prepare, publish in a variety of formats, exchange and analyze financial statements and the information they contain. Some of the world's leading accounting, financial, government and software organizations are involved in the adoption and use of XBRL in the U.S. XBRL-US is hosted and supported by the American Institute of CPAs, one of the founding members of XBRL International. For more information on XBRL, please go to the XBRL US Web site (http://www.xbrl.org/US).

About PR Newswire

PR Newswire Association LLC (http://www.prnewswire.com/) provides electronic distribution, targeting, measurement and broadcast services on behalf of tens of thousands of corporate, government, association, labor, non-profit, and other customers worldwide. Using PR Newswire, these organizations reach a variety of critical audiences including the news media, the investment community, government decision-makers, and the general public with their up-to-the-minute, full-text news developments.

Established in 1954, PR Newswire has offices in 14 countries and routinely sends its customers' announcements to outlets in more than 170 countries and in more than 40 languages. Utilizing the latest in communications technology, PR Newswire content is considered a mainstay among news reporters, investors and individuals who seek breaking announcements from the source. PR Newswire's leading services include ProfNetSM, eWatch™, MEDIAtlas™, Search Engine Optimization, MediaRoom, MediaSense™, MultiVu™, U.S. Newswire, the preeminent policy newswire in the industry, Vintage Filings, the fastest growing Edgar filing company, and Hispanic PR Wire, LatinClips and Hispanic Digital Network, the foremost Hispanic communications services. PR Newswire is a subsidiary of United Business Media Limited, a leading global business media company that serves professional commercial communities around the world. For more information, go to www.unitedbusinessmedia.com.

About United Business Media Limited (www.unitedbusinessmedia.com)

United Business Media Limited (UBM) is a global media and marketing services company that informs markets and brings the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. UBM serves professional and commercial communities, from IT professionals to doctors, from journalists to jewelry dealers, from farmers to pharmacists around the world. UBM employs more than 6,500 people in more than 30 countries. UBM's businesses operating in the US include CMPMedica, Commonwealth Business Media, Everything Channel, PR Newswire, RISI, TechInsights, TechWeb and Think Services. UBM is listed on the London Stock Exchange (UBM.L) and has a market capitalization of $2.5 billion.

Media Contacts:

Rachel Meranus, Vice President, Public Relations, PR Newswire at +1.201.360.6776 or rachel.meranus@prnewswire.com

First Call Analyst:
FCMN Contact:
http://www.xbrl.org/US/

SOURCE: PR Newswire Association LLC