Closes Subsidiary

Jul 01, 2005, Inc., a provider of financial commentary, analysis, research, and news, has announced the closing of business operations of its wholly owned subsidiary, Independent Research Group LLC, which operates its securities research and brokerage segment. IRG Research had net revenue in 2004 of $4.5 million, which represented 12.7% of's total net revenue for the year. Expenses for the year totaled $10.3 million, which represented 27.3% of's total expense. IRG Research currently employs approximately 40 people located primarily at its principal office at 44 Wall Street, New York, N.Y.