2008-10-16 00:26:59 -

- Colcomgroup, Inc. T. David Colgren, 917-587-3708 dcolgren@colcomgroup.com XBRL International, Inc. (XII), a global business reporting consortium that develops and maintains the XBRL reporting standard and framework, convened its international conference today in Washington, DC. XBRL, www.xbrl.org, is an XML-based technology that enables financial and business information to be exchanged quickly, efficiently and cost-effectively over the Internet. XBRL allows regulators,

analysts and investors to easily access and re-use the public company information they need for decision making.

"The current global financial crisis indicates the need for greater transparency in business and financial information to help regulators monitor safety and soundness of the organizations they oversee and to enable investors to make better decisions," said Anthony Fragnito, CPA, CEO of XBRL International, Inc. "XBRL is the enabling technology to help them do this. Governments and markets are looking for global, open standards like XBRL to provide greater comparability to protect investors and expedite financial recovery. The world's markets have accepted XBRL as the standard for business reporting, and we believe it will play an important central role as they seek solutions to rebuild investor confidence and promote economic recovery."

"The current economic crisis has lowered investor confidence in the capital markets," said Al Berkeley, Chairman and CEO of Pipeline Trading Systems LLC and Chair, XBRL US Board of Directors. "At the heart of confidence is reliable, thorough, accurate information. The only feasible way to deal with the overwhelming amount of information is to use technologies like XBRL. Now that the policy decisions have been made by governments and regulators, it's now time to deal with proven technologies such as XBRL that can rebuild trust and do it cost effectively."

More than 500 executives from 30 countries gathered in Washington to see how XBRL enhances the regulatory reporting and filing process and gives greater transparency and access to information. Government regulatory authorities, stock exchange executives, leading financial executives, analysts, investment professionals and software developers discussed how XBRL enhances capital market transparency to better protect investors.

XBRL is now mandated or used in regulatory filing programs in Australia, Belgium, Canada, China, Denmark, France, Germany, India, Israel, Japan, Korea, Netherlands, Singapore, Spain, Sweden, Thailand, United Kingdom and United States.

In related news, XBRL International announced the addition of new provisional jurisdictions to the XBRL consortium: the Open Compliance & Ethics Group (OCEG), Switzerland and the People's Republic of China.

"As the fourth largest economy in the world, China supports international standards like XBRL that enhance the exchange of financial information to support greater global economic cooperation," said Ying Wei, Deputy Director General, China Ministry of Finance.

"Investors today are looking for more structured, transparent financial information that can be easily used for decision making," said Li Wei, Deputy Director, China Securities Regulatory Commission. "XBRL helps them do that."

"We look forward to increasing awareness of XBRL and how it can be used across all market segments by creating Swiss XBRL projects leveraged off XBRL global initiatives," said Christian Dreyer, Managing Partner of Tertium datur AG and Chair of XBRL CH. "In addition, we will work to attract and recruit new members of the new Swiss jurisdiction representing the Swiss business reporting supply chain, including US listed Swiss multinationals, pioneering corporates listed on SIX Swiss Exchange, and relevant authorities at all levels of the Swiss marketplace."

Several direct participant members to XBRL International members were also announced, including: the Israeli Security Regulatory Authority, the Singapore based Accounting and Corporate Regulatory Authority, Protia from Malaysia, Zypher Financial Technologies LTD based is Israel, ReActiv Doo from the Republic of Macedonia and MUSING. XBRL International now includes 24 jurisdictions in Europe, Asia, the Middle East, North America and Australia with several others under formation.

The Platinum sponsor of the Conference is Fujitsu (www.fujitsu.com). For more information about conference offerings, visit conference.xbrl.org/. About XBRL International, Inc.

XBRL International, Inc (XII) is a global consortium using a cooperative effort to create a common business reporting language based on XML. This Web protocol is being developed and promoted by an international not-for-profit consortium of more than 600 major international companies, organizations and government agencies. For more information about XBRL, please visit www.xbrl.org.

XBRL International Conference Draws Over 500 Securities
Regulators, CEOs, CFOs and Business Leaders from 30 Countries to
Promote Greater Transparency in Capital Markets

¶ Featured speakers include:

¶ -- Christopher Cox, US Securities and Exchange Commission
Chairman

¶ -- Steven O. App, Deputy to the Chairman and CFO, Federal Deposit
Insurance Corporation

¶ -- Liping Song, CEO, Shenzhen Stock Exchange

¶ -- Ira Millstein, Partner, Weil, Gotshal & Manges, LLP

¶ -- William Lutz, Chair, Securities and Exchange Commission's 21st
Century Disclosure Initiative

¶ -- Kim Wallin, Nevada State Controller

¶ -- Kazuhiko Hanaoka, Corporate Vice President, Fujitsu Limited