New York (July 28, 2003) -- The group charged with gaining market acceptance of the XBRL programming code for business reports has named a business information distribution expert as its chairperson.

Michelle Horowitz, who is responsible for strategic alliances and partnership strategies at New York-based PR Newswire, was named chairperson of the XBRL-U.S. Adoption Committee, replacing Paul Penler, an Ernst & Young principal whose term expired. The committee is part of the XBRL-U.S. Steering Committee, a 50-member consortium that is driving the overall development of XBRL in the United States and is among the XBRL development groups working in several countries.

Horowitz will be responsible for building awareness of XBRL at companies and financial institutions, as well as communicating with software developers, regulators, financial analysts, public companies, and other organizations to aid the development of XBRL-enabled applications.

"Now is the time to have a focus on adoption," said Eric Cohen, chairman of the XBRL-U.S. Steering Committee. "Michelle's ability to nurture business alliances will be of tremendous value as we look to build upon the momentum generated by her predecessor, Paul Penler."

"Working for PR Newswire, I am intimately familiar with the challenges that companies face when communicating and comprehending financial reports," said Horowitz. " I look forward to leading XBRL-U.S.'s push to make XBRL universally accepted."

-- John M. Covaleski

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