Thomson and Reuters Provide Regulatory Update



    
    High Degree of Confidence that Acquisition will be Approved
    

    NEW YORK, Jan. 14 /CNW/ -- The Thomson Corporation (NYSE:   TOC; TSX: TOC)
and Reuters (LSE: RTR, Nasdaq:   RTRSY) today announced that they have agreed
with the U.S. Department of Justice (DOJ) to align more closely its regulatory
review timetable for Thomson's proposed acquisition of Reuters with that of
the European Commission (EC).  The DOJ and EC have been working cooperatively
with one another in their reviews. As a result, the DOJ is now expected to
render a decision on or about the date on which the EC makes its decision.
    
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20020227/NYW014LOGO )
    
    Thomson and Reuters have had productive discussions with the DOJ and EC.
Given the highly complementary nature of their businesses, the two companies
have a high degree of confidence that the acquisition will receive clearance
on an expedited timetable.
    Thomson and Reuters expect the transaction to close early in the second
quarter of 2008.  While the regulatory review process continues, integration
planning efforts associated with the acquisition are proceeding on course.
    
    About 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).
    
    About Reuters:
    
    Reuters (www.reuters.com), the global information company, provides
indispensable information tailored for professionals in the financial
services, media and corporate markets. Through reuters.com and other digital
properties, Reuters now also supplies its trusted content direct to
individuals. Reuters drives decision making across the globe based on a
reputation for speed, accuracy and independence. Reuters has 17,500 staff in
94 countries, including 2,400 editorial staff in 196 bureaux serving 131
countries. In 2006, Reuters revenues were A#2.6 billion.
    The directors of Thomson and Reuters accept responsibility for the
information contained in this announcement. To the best of the knowledge and
belief of the directors of Thomson and Reuters (who have taken all reasonable
care to ensure such is the case), the information contained herein for which
they accept responsibility is in accordance with the facts and does not omit
anything likely to affect the import of such information.
    
    DEALING DISCLOSURE REQUIREMENTS
    
    Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if
any person is, or becomes, 'interested' (directly or indirectly) in 1% or more
of any class of 'relevant securities' of Thomson or of Reuters, all 'dealings'
in any 'relevant securities' of that company (including by means of an option
in respect of, or a derivative referenced to, any such 'relevant securities')
must be publicly disclosed by no later than 3.30 pm (London time) on the
London business day following the date of the relevant transaction. This
requirement will continue until the date on which the Transaction becomes, or
is declared, unconditional, lapses or is otherwise withdrawn or on which the
'offer period' otherwise ends. If two or more persons act together pursuant to
an agreement or understanding, whether formal or informal, to acquire an
'interest' in 'relevant securities' of Thomson or Reuters, they will be deemed
to be a single person for the purpose of Rule 8.3.
    Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant
securities' of Thomson or Reuters by Thomson or Reuters, or by any of their
respective 'associates', must be disclosed by no later than 12.00 noon (London
time) on the London business day following the date of the relevant
transaction.
    A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities
in issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.
    'Interests in securities' arise, in summary, when a person has long
economic exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option
in respect of, or derivative referenced to, securities.
    Terms in quotation marks are defined in the Code, which can also be found
on the Panel's website. If you are in any doubt as to whether or not you are
required to disclose a 'dealing' under Rule 8, you should consult the Panel.
    
    CAUTIONARY NOTE CONCERNING FACTORS THAT MAY AFFECT FUTURE RESULTS
    
    This news release includes forward-looking statements, such as Thomson's
and Reuters beliefs and expectations regarding the regulatory review process
and anticipated timing for closing for their proposed transaction. These
statements are based on certain assumptions and reflect Thomson's and Reuters
current expectations. There can be no assurance that the regulatory review
process will be completed during the time period specified in this news
release, or that the proposed transaction will be consummated. The closing of
the proposed transaction is subject to various regulatory approvals and the
fulfillment of certain conditions, and there can be no assurance that any such
approvals will be obtained and/or such conditions will be met. 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. These risks and uncertainties include, without
limitation, the effect of regulatory conditions, if any, imposed by regulatory
authorities and the reaction of Thomson's and Reuters customers, suppliers,
competitors and others to the proposed transaction. Additional factors that
could cause actual results or events to differ materially from current
expectations are discussed in Thomson's and Reuters respective materials filed
with the securities regulatory authorities in Canada, the United Kingdom and
the United States (as the case may be) from time to time including The Thomson
Corporation's 2006 Annual Report on Form 40-F and Reuters Group PLC's 2006
Annual Report on Form 20-F, each of which has been filed with the U.S.
Securities and Exchange Commission (SEC). Any forward-looking statements made
by or on behalf of Thomson or Reuters speak only as of the date they are made.
Thomson and Reuters each disclaim 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.
    This document does not constitute an offer for sale of any securities or
an offer or an invitation to purchase any such securities. Following
satisfaction or waiver of the pre-conditions to the proposed transaction,
documents relating to the proposed transaction will be furnished to or filed
with the SEC. Shareholders are urged to read such documents regarding the
proposed transaction if and when they become available, because they will
contain important information. Shareholders will be able to obtain free copies
of these documents, as well as other filings containing information about the
companies, without charge, at the SEC's website at www.sec.gov, at the
Canadian securities regulatory authorities' website at www.sedar.com (in the
case of Thomson) and from Thomson and Reuters. These documents will also be
available for inspection and copying at the public reference room maintained
by the SEC at 100 F Street, N.E., Washington, D.C. 20549, United States. For
further information about the public reference room, call the SEC at 1-800-
732-0330.

    
    Contacts:
    Reuters:                                The Thomson Corporation:
    Investor Relations enquiries            Investor Relations enquiries
    Miriam McKay                            Frank J. Golden
    Global Head of Investor Relations       Vice President, Investor Relations
    +44 (0) 207 542 7057                    +1 (203) 539 8470
    +44 (0) 7990 567057                     frank.golden@thomson.com
    Miriam.mckay@reuters.com
    

    
    UK Media enquiries                      US Media enquiries
    Victoria Brough                         Fred Hawrysh
    Global Head of Financial PR             Global Director,
    +44 (0) 207 542 8763                    External Communications
    victoria.brough@reuters.com             +1 (203) 539 8314
                                            fred.hawrysh@thomson.com
    US Media enquiries
    Frank DeMaria                           UK Media enquiries
    SVP, Corporate Communications, Americas Edward Simpkins
    +1 646 223 5507                         Edward.simpkins@finsbury.com
    frank.demaria@reuters.com               Finsbury
                                            +44 (0) 207 251 3801
    




For further information:

For further information: Investor Relations, Miriam McKay, Global Head
of  Investor Relations, Reuters, +44 (0) 207 542 7057, +44 (0) 7990 567057, 
Miriam.mckay@reuters.com, or Frank J. Golden, Vice President, Investor 
Relations, The Thomson Corporation, +1-203-539-8470, 
frank.golden@thomson.com; UK Media, Victoria Brough, Global Head of Financial 
PR, +44 (0) 207 542 8763, victoria.brough@reuters.com, or Edward Simpkins, 
Finsbury, +44 (0) 207 251 3801, Edward.simpkins@finsbury.com; US Media, Fred 
Hawrysh, Global Director, External Communications, +1-203-539 8314, 
fred.hawrysh@thomson.com, or Frank DeMaria, SVP, Corporate Communications, 
Americas, +1-646-223-5507, frank.demaria@reuters.com Web Site:
http://www.thomson.com/

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