EDGAR Online, Inc. announced it is working with over 30 other companies and organizations on the XBRL Project Committee to develop and launch XBRL (eXtensible Business Reporting Language). XBRL, formerly code named XFRML, is a free, new XML-based specification that uses accepted financial reporting standards and practices to exchange financial reports across all software and technologies, including the Internet. Members of the XBRL Project Committee represent the financial, accounting, software and governmental communities from around the world. XBRL for financial statements, developed by the Committee as the first product in a future family of XBRL-based products, is currently under review for comments by the accounting profession and is anticipated to reach the market in July 2000. XBRL streamlines the financial information supply chain that includes public and private companies, the accounting profession, data aggregators, the investment community and all other users of financial statements. XBRL offers several key benefits: technology independence, full interoperability, efficient preparation of financial statements and reliable extraction of financial information. Information is entered only once, allowing that same information to be rendered in any form, such as a printed financial statement, an HTML document for the company’s Web site, an EDGAR filing document with the SEC, a raw XML file or other specialized reporting formats such as credit reports or loan documents. www.XBRL.org