CCH Goes Global With Daily Capital Changes Coverage

Offering a significant expansion of equity coverage, ADR/Global Capital Changes Daily provides the same detailed information – now provided for U.S. domestic companies by CCH’s Capital Changes products – on foreign companies whose stock is traded in the U.S. on the NYSE, NASDAQ-ASE or traded over-the- counter.

"Information on these securities can be difficult to obtain and the transactions are complex. The content and ease and speed of delivery provided by ADR/Global Capital Changes Daily represent a very high level of value-added information for professionals who rely on capital changes information," said CCH Business and Finance Group marketing manager Peggy Hayner.

With this new comprehensive daily coverage, professionals have access to information about foreign companies registered with the Securities and Exchange Commission whose corporate actions have federal income tax consequences and require specialized reporting of facts, figures and tax treatment.

Unlike their counterparts in the U.S., where companies trading OTC can often be small, start-up companies that would not qualify for listing on one of the exchanges, ADRs and Canadian companies traded OTC include major firms, some of which may be partly or even wholly-owned by their government.

An ADR is created when a security from a foreign market is deposited with a bank located in the U.S. (the depositary). Then, the depositary bank issues certificates in the U.S. that represent and are backed by the deposited securities. It is these certificates that trade in the U.S.

Global stocks are securities that trade simultaneously in the U.S. and in their home country.

"At the moment almost all global stocks are Canadian. Daimler Chrysler, however, was the first major issue outside of Canada to use this structure and more are expected to follow," said Hayner.

About ADR/Global Capital Changes Daily

With ADR/Global Capital Changes Daily, professionals have timely, ready access to a wide range of ADR and global transaction information including:

• Exchanges of securities in recapitalization, reorganization, merger and consolidation.
• Cash purchase offers for securities.
• Stock dividends or splits and other distributions of securities to owners of outstanding securities.
• Stock rights offerings (proceeds from sale of rights).
• Poison pills.
• Offering, adjustment and call of convertible or securities and warrants.
• Offering of units (two or more securities packages together: e.g., bond plus warrants).
• Liquidating and principal distributions.
• Worthless security losses.
• Dividends on preferred stock redemptions.
• Conversion adjustments to securities bonds.
• Warrant extensions.
• Prepayment of bond interest.
• Name changes.
• Bankruptcy plan status and final resolution of bankruptcy action.
• Reincorporations.

For more information or to order ADR/Global Capital Changes Daily, call 800-449-6435.  ADR/Global Capital Changes Daily is available via the internet, Lotus Notes and direct data feed.

About CCH INCORPORATED

CCH INCORPORATED, founded in 1913, has served four generations of business professionals and their clients. The company produces approximately 700 print and electronic products for tax, legal, securities, human resources, health care and small business markets. CCH is a wholly owned subsidiary of Wolters Kluwer U.S. The CCH web site can be accessed at www.cch.com. The CCH Business and Finance Group web site can be accessed at business.cch.com.

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