PC Financial Network and Sony Corporation of America Launch Magic Broker for Sony’s Magic Link Communicators
JERSEY CITY, N.J. & NEW YORK — June 25, 1996 — PC Financial Network, the online discount brokerage service offered by Donaldson, Lufkin & Jenrette Securities Corporation and Sony New Business Development, a division of Sony Corporation of America, said today that they have jointly launched a new service, Magic Broker. Magic Broker provides self-directed investors on the go with the ability to place trades, receive individually tailored news and portfolio alerts without having to access the home or office computer or speak with a broker. Magic Broker is a software package for personal intelligent communicators such as the Sony Magic Link, which utilize the Magic Cap(TM) operating system.
"Our investors have told us that accessing their portfolio information and placing trades from a personal communicator would make them much more effective in controlling their investments. The Magic Cap-based products, including the Sony Magic Link, will give them the ability to make decisions based on real-time information," said Blake Darcy, Chief Operating Officer of PC Financial Network. "Combining these exciting technologies with PC Financial Network's established brokerage business guarantees a successful future for this exciting new service."
"Online stock trading has proven to be a tremendous value to users of online services," said Paul Linhardt, Manager, General Magic Software Development for Sony New Business Development. "This application will enable self-directed investors to trade while traveling. We believe that this will demonstrate the power of Sony's Magic Link communicator as a way to extend the online lifestyle beyond the home and the desktop."
The Magic Broker software was developed by Sony New Business Development in Monterey, California, with screen designs by Vivid Studios. Sony is a leading software developer for the Magic Cap platform. Sony Electronics recently released its new Magic Link communicator PIC2000, featuring a backlit screen, 14400bps modem, and ability to communicate via a cellular connection.
The Magic Broker software will be available bundled with the Sony PIC2000 direct from PC Financial Network (1-800-237-PCFN) or electronically via the World Wide Web (http://www.magicbroker.com). There is no charge for the software.
The General Magic alliance includes Sony, Matsushita, Philips, Mitsubishi, Toshiba, Fujitsu, Nippon Telephone and Telegraph, AT&T, France Telecom and Motorola.
Sony Corporation of America (SCA) based in New York City, is a subsidiary of Sony Corporation headquartered in Tokyo. Sony is one of the world's leading manufacturers of audio, video, television and information-related products and electronic components. With its music, pictures and videogames businesses, Sony is also one of the world's most comprehensive entertainment companies. SCA, established in 1960, employs 20,000 people in the U.S. and generates over $ 14 billion in annual sales.
PC Financial Network, established in 1988, is a service of Donaldson, Lufkin and Jenrette Securities Corporation. Today, PC Financial Network is America's leading online discount broker with over 220,000 customer accounts and nearly 2 million executed transactions that represent over $ 12 billion in online customer assets. PC Financial Network is available to members of America Online, Prodigy, Reuters Money Network and Online Resources' ScreenPhone.
Donaldson, Lufkin & Jenrette is a leading integrated investment and merchant bank that serves institutional, corporate, government and individual clients. DLJ's businesses include securities underwriting, sales and trading; merchant banking, financial advisory services; investment research; correspondent brokerage services; online, interactive brokerage services; and asset management. Founded in 1959 and headquartered in New York City, DLJ employs 4,900 individuals worldwide and maintains offices in thirteen cities in the United States and seven cities in Europe, Africa and the Far East. The company's common stock trades on the New York Stock Exchange under the ticker symbol, DLJ.
CONTACT:
PC Financial Network
K. Blake Darcy, 201-413-2095
or
PC Financial Network
Stephen J. Killeen, 201-413-3257
or
Sony New Business Development
Paul Linhardt, 408-642-6411