EXHIBIT 99
NEWS RELEASE
CONTACT:
CreditRiskMonitor.com, Inc.
Jerry Flum, Chairman & CEO
(516) 620-5400, ext. 321
[email protected]
FOR IMMEDIATE RELEASE
CreditRiskMonitor.com Enters Into Letter of Intent With Graydon UK Ltd.
FLORAL PARK, NY--July 27, 2000--CreditRiskMonitor.com, Inc. (Symbol: CRMZ)
announced that it has entered into a Letter of Intent with Graydon UK Ltd. to be
their sole re-distributor of Graydon's international credit reports in the
United States. As part of the deal, CRM will assume the servicing of the current
contracts of Graydon America, Inc. The parties anticipate closing on this
business relationship in August 2000.
"There is very little overlap in the Graydon and CreditRiskMonitor.com customer
lists and cross- selling opportunities are available. Accordingly, we see this
arrangement as adding to our sales growth over the next 12 months," commented
Joseph DeMartino, chief operating officer of CRM.
Graydon UK Ltd. is one of the leading European service providers in the field of
credit management and database business information. It provides a complete
package of high-quality international services for the global community, to
facilitate accomplishing business transactions and to assure payment of trade
debts. It is owned by three of Europe's leading credit insurance organizations
-- NCM, Coface and Hermes.
CreditRiskMonitor.com is an Internet-based financial information analysis and
news service designed for corporate credit professionals whose portal web site
is www.creditriskmonitor.com. CRM competes with The Dun & Bradstreet Corporation
(NYSE: DNB) and eCredit.com (an Internet Capital Group (NASD: ICGE) portfolio
company) for business credit reporting services.
Safe Harbor Statement: Certain statements in this press release, including
statements prefaced by the words "anticipates", "estimates", "believes",
"expects" or words of similar meaning, constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance, expectations or
achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements, including, among others, those risks, uncertainties and factors
referenced from time to time as "risk factors" or otherwise in the Company's
Registration Statements or Securities and Exchange Commission Reports
