Thomson Acquires TaxStream



    
    Market-Leading SaaS Software Expands Thomson Tax & Accounting's Leading
    Income Tax Position for corporate Tax
    

    STAMFORD, Conn., and NEW YORK, Jan. 29 /CNW/ -- The Thomson Corporation
(NYSE:   TOC; TSX: TOC), a leading provider of information solutions to business
and professional customers worldwide, today announced that it has acquired
TaxStream, a leading software provider in income tax provisions, which help
corporations comply, plan and remit income taxes. Based in Hoboken, N.J.,
TaxStream has various offices across the United States, employing
approximately 100 people.  TaxStream will now become part of Thomson Tax &
Accounting.
    
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20020227/NYW014LOGO )
    
    TaxStream's Web-based tax provisioning software enables multinational
corporations to more accurately estimate their tax expense across multiple
geographies and jurisdictions across the globe. This service has become
increasingly important due to increasing complexity resulting from
globalization and converging accounting, compliance and reporting standards;
and is also the result of increasing worldwide risk management and regulatory
scrutiny. The acquisition will enable Thomson Tax & Accounting to enhance its
offerings in the SaaS market through a Web-based FAS109 compliance software
platform, as well as FIN48 compliance modules and data collection workflow
tools.
    "TaxStream is a natural fit for Thomson Tax & Accounting," said Brian
Peccarelli, President, Thomson Tax & Accounting's Corporate Software &
Services business.  "They have become the provisions software standard and
vendor of choice.  Their leading software and critical relationships with key
partners are complementary to our position as a leader in tax software for
corporations overall in the US, especially income tax."
    The TaxStream product line, which is used by nine of the 10 largest
accounting firms and one-third of Fortune 500 companies, will continue to
provide an open architecture that supports all major vendors in the tax
compliance market.  As an international tax solutions provider, TaxStream's
products facilitate compliance to multinational, publicly-traded companies
based in the US and Europe.
    "We look forward to TaxStream becoming part of the Thomson family of
applications and information services," said Kevin Brady, founder and CEO of
TaxStream. "This transaction gives us an opportunity to more fully support our
customer base by continuing to provide open systems, while offering clients
access to Thomson Tax & Accounting's world-class corporate tax solutions."
    
    Financial terms of the transaction were not disclosed.
    The Thomson Corporation
    
    The Thomson Corporation (www.thomson.com) is a global leader in providing
essential electronic workflow solutions to business and professional
customers.  With operational headquarters in Stamford, Conn., Thomson provides
value-added information, software tools and applications to professionals in
the fields of law, tax, accounting, financial services, scientific research
and healthcare.  The Corporation's common shares are listed on the New York
and Toronto stock exchanges (NYSE:   TOC; TSX: TOC).
    Thomson Tax & Accounting, a segment of The Thomson Corporation, is a
leading provider of technology and integrated information solutions to
accounting, tax and corporate finance professionals in accounting firms,
corporations, law firms and government. Thomson Tax & Accounting includes the
Professional Software & Services, Corporate Software & Services, and Research
& Guidance businesses.
    This news release includes forward-looking statements which are based on
certain assumptions and reflect The Thomson Corporation's current
expectations. All forward-looking statements in this news release are subject
to a number of risks and uncertainties that could cause actual results or
events to differ materially from current expectations. Some of the factors
that could cause actual results to differ materially from current expectations
include risks related to Thomson Tax & Accounting's ability to successfully
integrate the TaxStream business after the closing, and actions of Thomson Tax
& Accounting's competitors. Additional factors are discussed in the
Corporation's materials filed with the securities regulatory authorities in
Canada and the United States from time to time, including the Corporation's
latest annual information form, which is contained in its most recently filed
annual report on Form 40-F. The Corporation disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, other than as required
by law.

    
    Media Contact:
    Fred Hawrysh
    Global Director, External Communications
    (203) 539-8314
    fred.hawrysh@thomson.com
    

    
    Kathy Lofland
    Sr. Director, Corporate Communications
    Thomson Tax & Accounting
    (972) 250-8843
    kathy.lofland@thomson.com
    

    
    Investor Contact:
    Frank J. Golden
    Vice President, Investor Relations
    (203) 539-8470
    frank.golden@thomson.com
    




For further information:

For further information: Media, Fred Hawrysh, Global Director, External 
Communications, +1-203-539-8314, fred.hawrysh@thomson.com, or Kathy Lofland, 
Sr. Director, Corporate Communications, Thomson Tax & Accounting, 
+1-972-250-8843, kathy.lofland@thomson.com; or Investors, Frank J. Golden, 
Vice President, Investor Relations, +1-203-539-8470, 
frank.golden@thomson.com, all of The Thomson Corporation Web Site:
http://www.thomson.com

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THE THOMSON CORPORATION

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TAXSTREAM

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