NEWS RELEASE
Brooklyn, NY – September 20, 2005 – Track Data Corporation
(Nasdaq: TRAC) today announced preliminary results of its tender offer to purchase
up to 1 million shares of its common stock at a price of $3.00 per share. The
tender offer expired at 12:00 midnight, New York City time, on Friday,
September 16, 2005.
Based on a preliminary count by the depositary for
the tender offer, approximately 1,059,000 shares of common stock were properly
tendered and not properly withdrawn, including approximately 22,000 shares that
were tendered through notice of guaranteed delivery. The 1,059,000 shares tendered include 200,000 shares tendered by
Mr. Hertz, Track Data’s Chairman, CEO and controlling stockholder. Track Data
will acquire all 1,059,000 shares properly tendered and not properly withdrawn
at a purchase price of $3.00 per share. Of the 1,059,000 shares, 59,000 shares
will be purchased in accordance with the Company’s right, under the terms of
the tender offer, to acquire additional shares without extending the offer.
The number of shares properly tendered and not
properly withdrawn is preliminary and subject to verification by the
depositary. The final number of shares purchased will be announced as soon as
practicable following completion of the verification process and confirmation
by the depositary of the proper delivery of all shares tendered. Payment for the shares validly tendered and
accepted for purchase under the tender offer, and return of any shares not
accepted, will occur promptly after such announcement.
Track Data Corporation
maintains offices in the U.S. and Europe, with executive offices located at 95
Rockwell Place, Brooklyn, New York 11217. Its telephone number is 212-943-4555
or 718-522-7373.
The Company is a financial services company that
provides real-time financial market data, fundamental research, charting and
analytical services to institutional and individual investors through dedicated
telecommunication lines and the Internet.
The Company also disseminates news and third-party database information
from more than 100 sources worldwide.
The Company owns Track Data Securities Corp. ("TDSC"), a
registered securities broker-dealer and member of the National Association of
Securities Dealers, Inc. The Company
provides a proprietary, fully integrated Internet-based online trading and
market data system, proTrack, for the professional institutional traders, and
myTrack and TrackTrade, for the individual trader. The Company also operates Track ECN, an electronic communications
network that enables traders to display and match limit orders for stocks. The Company also engages in arbitrage
trading.
Media Contact: Investor
Relations Contact:
Rafi Reguer Laurel
Louison
Tel: 718-522-7373