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Non-Tech : CSFB Direct(DIR) -- Ignore unavailable to you. Want to Upgrade?

To: Henry Niman who wrote (391)	8/30/2000 9:13:42 AM
From: Rob C.	Respond to of 406

Henry, I like this... Credit Suisse First Boston could benefit from the deal in several ways. Not only will the acquisition boosts its U.S. presence, it also would be helped by DLJ's strength in high-yield bonds. On Tuesday, DLJ's stock (DLJ: news, msgs) reached a 52-week high of 82 1/4, up 16 7/16 on volume of more than 6 million shares. DLJdirect (DIR: news, msgs), a tracking stock for DLJ's online operation, also posted a big gain, rising 2 1/4, or 28 percent, to 10 3/16 as of 4 p.m. Eastern time. To some observers, suitors might view DLJdirect, an established online service, as one of the brokerage's biggest assets. Analysts have said the speculation about DLJ itself gained currency because it followed a period when PaineWebber agreed to be acquired by UBS and Bear Stearns said it might be looking for a suitor of its own. Those developments have been seen as a prelude to what could turn into a new buying spree of securities firms. Regards, Rob

To: Henry Niman who wrote (391)	8/31/2000 4:09:57 PM
From: Rob C.	Respond to of 406

=DJ POINT OF VIEW: Is Renaming DLJdirect Counterproductive? 31 Aug 13:49 By Gene Colter A Dow Jones Newswires Column NEW YORK (Dow Jones)--Imagine you have a young but high-profile business with nearly 1 million customers. Now figure that you spent roughly $250 to lure each of those customers for a total of $250 million. A lot of that figure represents advertising campaigns to get your name out there so that people remember it. What's your next move? Why, change your name, of course. Sound odd? That's what the new owner of DLJdirect Inc. (DIR) may be planning, though the parent appears to be debating the rechristening of the online brokerage. Credit Suisse Group (Z.CSG) Chairman and Chief Executive Lukas Muhlemann sent a letter to shareholders Thursday saying DLJdirect will become CSFBDirect as part of the $11.5 billion transaction in which Credit Suisse will acquire Donaldson, Lufkin & Jenrette Inc. (DLJ). But Muhlemann later said in a conference call that the unit wouldn't be rebranded. Credit Suisse' Chief Financial Officer Richard Thornburgh further muddied the issue by saying there's a "high likelihood" of rebranding but later adding Credit Suisse would ultimately do "what is in the best interest of shareholders," according to a report by Dow Jones Newswires' Cheryl Winokur Munk. Herewith, some advice to Credit Suisse on the matter. As everyone on Wall Street knows, CSFB stands for Credit Suisse First Boston, the investment-banking business created when First Boston merged with Credit Suisse back in the late 1980s. But Wall Streeters know just as well the history of DLJ, a venerable name that had begun to gain some recognition on Main Street, too, in the guise of DLJdirect. (The example at the top of this column is at least somewhat based on real numbers: By the latest reckoning, the Web broker has about a million accounts worldwide. In the first quarter, the firm spent an average of around $262 to capture each new account, according to a Salomon Smith Barney analyst.) Wall Street may grumble, but it can adapt. No disrespect to Main Street, but the average consumer doesn't do as well with change, and you have to figure that hanging a new sign on DLJ's brokerage business will at least lead to confusion in the minds of some customers and potential customers. To be sure, the alternative - keeping the DLJdirect name - might look odd when you consider that Credit Suisse has its name on most everything else in its empire. Indeed, the new CSFB/DLJ operation will be called simply Credit Suisse First Boston. But, though the image managers and spin doctors might have you believe otherwise, there's still a difference between the way institutions and end customers accept some kinds of change. Many companies with a consumer brand acknowledge this when renaming after a takeover or merger. For example, Germany's Daimler made sure to keep the word "Chrysler" after it bought the company. It did so because it knew the average customer would take more readily to DaimlerChrysler than Daimler-Benz and associate (hopefully) good feelings about the Chrysler product with the new name. No one is suggesting that DLJdirect is anywhere near the brand that one of the Big Three automakers is. In fact, those million accounts rank it only as No. 7 in the online brokers field, according to Salomon Smith Barney estimates. But building a brand means sticking with the name or coming up with a powerful catalyst to establish the new handle in the public's mind. And sometimes that catalyst isn't always a happy one. Just ask Verizon Communications (VZ), whose creation from the merger of GTE and Bell Atlantic was something of a mystery - sorry, James Earl Jones - before its labor problems made headlines. Meantime, back on Wall Street, investors who own any of the 12% of DLJdirect tracking stock that DLJ offered in May 1999 have their own problems, but not because of any potential name change. Their stocks got left out of the CSFB/DLJ deal and will continue to trade separately. Shares of DLJdirect debuted at $20, hit a high $40 and now trade at less than $9. The only thing these holders may get is a new ticker symbol. -By Gene Colter, Dow Jones Newswires 201.938.2068 (END) DOW JONES NEWS 08-31-00 01:49 PM Copyright 2000 Dow Jones & Company, Inc.

To: Henry Niman who wrote (391)	9/25/2000 8:14:10 AM
From: Rob C.	Read Replies (1) \| Respond to of 406

JERSEY CITY, N.J.--(BUSINESS WIRE)--Sept. 25, 2000-- -- Self-Directed Brokerage Option Allows Expanded Investment Choices Within 401(k) Plans -- DLJdirect Inc. (NYSE:DIR.N), the online brokerage service of Donaldson, Lufkin & Jenrette, Inc. (NYSE:DLJ.N), and MFS Retirement Services, today announced an agreement to offer DLJdirect brokerage services to participants in 401(k) plans administered by MFS. Under the agreement, DLJdirect will provide self-directed brokerage account (SDBA) services within MFS's participant-directed, employer-sponsored retirement plans. Clients of MFS retirement plans who meet certain criteria may choose the SDBA option. They will have access to a range of investment products and services offered by DLJdirect. The complete package of offerings includes trading in stocks, mutual funds, IPOs (for qualified investors), real-time quotes and news, and extensive research. Participants may access their accounts 24 hours a day, seven days a week. DLJdirect is available across a variety of platforms, including the Internet and wireless devices. Telephone access is available via TradeTalk, DLJdirect's touch-tone trading system, or by calling a DLJdirect registered Investor Service Representative. The agreement with MFS marks the third major agreement DLJdirect has signed in the last four months with 401(k) plan administrators offering a full range of brokerage services to participants in employer-sponsored retirement plans. "MFS is very pleased to join forces with DLJdirect, one of America's premier online brokerage firms, to provide our 401(k) clients with self-directed brokerage accounts," said Martin E. Beaulieu, President of MFS Retirement Services, Inc., a subsidiary of MFS Investment Management.(R) MFS Retirement Services has more than $18.6 billion in retirement assets and an account base of more than 725,000 participants nationally as of June 30, 2000. "We welcome this opportunity to provide our award-winning brokerage services to MFS plan participants," said Blake Darcy, Chief Executive Officer of DLJdirect. "The combined resources of MFS and DLJdirect will provide 401(k) plan participants with access to a more diverse package of products and services and the exemplary service that MFS clients have come to expect." About MFS Investment Management MFS invented the mutual fund. The firm's history dates back to March 21, 1924, and the establishment Massachusetts Investor's Trust, the fund that was at the beginning of an industry that brought the power of investing to every American. MFS manages more than $150 billion in assets on behalf of five million investors worldwide as of June 30, 2000. MFS Retirement Services, Inc. offers investors a full array of retirement plans with an emphasis on defined contribution plans and IRAs. The company's plans are fully supported by dedicated client service teams, state-of-the-art record keeping and administrative systems, and voice and Internet technology. The company also has experienced a 55 percent growth in retirement assets during the two-year period between January 1997 and December 1999, and a client retention rate of 98.5 percent. About DLJdirect DLJdirect is one of the world's premier online brokerage firms offering a diversified range of investment products and services to sophisticated, self-directed investors. As of June 30, 2000, DLJdirect had nearly one million worldwide customer accounts representing nearly $28 billion in assets. Headquartered in Jersey City, NJ, with offices in Parsippany, NJ, Charlotte, NC, Delray Beach, FL, Sandy City, UT, London, Tokyo, Hong Kong, and Dubai, DLJdirect employs more than 1,500 people. DLJdirect trades on the New York Stock Exchange under the ticker symbol "DIR" as a tracking stock of Donaldson, Lufkin & Jenrette. For more information on DLJdirect, visit the company's Web site at www.DLJdirect.com. About Donaldson, Lufkin & Jenrette Donaldson, Lufkin & Jenrette (DLJ), is a leading integrated investment and merchant bank serving institutional, corporate, government and individual clients. DLJ's businesses include securities underwriting; sales and trading; investment and merchant banking; financial advisory services; investment research; venture capital; correspondent brokerage services; online, interactive brokerage services; and asset management. Founded in 1959 and headquartered in New York City, DLJ employs approximately 11,300 people worldwide and maintains offices in 13 cities in the United States and 16 cities in Europe, Latin America and Asia. The company has two classes of common stock trading on the New York Stock Exchange. Shares trading under the ticker symbol "DLJ" represent Donaldson, Lufkin & Jenrette, Inc. Shares trading under the ticker symbol "DIR" track the performance of DLJdirect, its online brokerage business. For more information on Donaldson, Lufkin & Jenrette, refer to the company's World Wide Web site at www.DLJ.com. The firm's world headquarters are located at 277 Park Avenue, New York, NY 10172. --30--flb/ny* CONTACT: Press Contacts: DLJdirect Inc. Charlotte Fox 201/308-3562 cfox@DLJdirect.com or MFS Investment Management David Oliveri 617/954-4256 doliveri@MFS.com or G.S. Schwartz & Co. Inc. William Armstrong 212/725-4500, ext. 304 wga@schwartz.com or Investor Contact: Donaldson, Lufkin & Jenrette Kevin Zuccala 212/892-4693 ir@DLJ.com KEYWORD: NEW JERSEY INDUSTRY KEYWORD: BANKING COMPUTERS/ELECTRONICS E-COMMERCE Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Copyright 2000, Business Wire