Siebert Financial Purchases Two Women's Financial Sites

Posted on October 13, 2000

Muriel F. Siebert, chairman and chief executive officer of Siebert Financial Corp., has announced the creation of a women's financial website and the purchase of two women's websites, wfn.com and herdollar.com, that will serve as the foundation for the new site. The development of the site will be financed internally and no additional financing is anticipated. The new site, WFN, Women's Financial Network, by Siebert will offer online trading of stocks.

Siebert said, ``We are starting this site because it is time to give women investors the customized, targeted services they deserve. And though there are sites out there that purport to address the financial needs of women, in my opinion, they offer trivia and fail to provide the real tools women need. Even worse, many of them talk down to women. This site will be the best one on finance for women on the web.''

In describing her ambitions for a women's financial site, Siebert said, ``We are developing exciting proprietary features to make wfn.com by Siebert the ultimate destination for managing financial affairs with ease and confidence. We will offer products to help them buy homes, pay for educating themselves, their children and to prepare for retirement. Since we control the products offered, we will use our experience to choose products of quality and integrity."

HerDollar.com, founded by Mandee Heller and Tamara King, both MBAs from Harvard Business School, was created to educate women about investing, estate planning, insurance, loans, banking, retirement planning and other critical financial topics. Heller and King have also joined Siebert.

``By combining the ideas, skills and talents of Siebert, Openshaw, King and Heller, we plan to create a groundbreaking enterprise addressing the financial needs of women on the web.'' Siebert said. ``There are more than 57 million women online, constituting a majority of Internet users. The future of investing for both men and women will be on the Internet. We plan to use our financial expertise to be the leading site serving women's financial needs on the Internet.''