Bloomberg L.P. Not For Sale, Founder Mike Bloomberg Tells Employees

Bloomberg L.P. Not For Sale, Founder Mike Bloomberg Tells Employees

NEW YORK, Oct. 18 /PRNewswire/ -- Today, during his quarterly video address to Company employees, Bloomberg L.P. Chairman Peter T. Grauer read the following message from Mike Bloomberg:

"I've said many times that my next career will be in philanthropy. While I have recently been approached by potential buyers of Bloomberg L.P., I have decided not to sell the Company at this time.

"Although there will come a day (I hope later rather than sooner) when I or my estate will have to sell, I have complete confidence that the best days for the Company still lie ahead. New products, new markets, new services are constantly being created by the one of the most dynamic groups of people ever assembled. I couldn't be prouder to be a part of this group whose exciting growth and contribution to commerce are the envy of the world.

"Over the next few years, I plan to share the results of our success with deserving causes through my foundation. Hopefully we can impact public health, the arts, education and other areas of society in the same way we've improved the dissemination of news to open financial markets for all."

About Bloomberg L.P.

Bloomberg is the leading global provider of data, news and analytics. The BLOOMBERG PROFESSIONAL(R) service and Bloomberg's media services provide real- time and archived financial and market data, pricing, trading, news and communications tools in a single, integrated package to corporations, news organizations, financial and legal professionals and individuals around the world. Bloomberg's media services include the global BLOOMBERG NEWS(R) service with more than 2,000 professionals in 126 bureaus worldwide; the BLOOMBERG TELEVISION(R) 24-hour business and financial network produced and distributed worldwide on ten separate channels in seven languages; and BLOOMBERG RADIO(SM) services which provide up-to-the-minute news on XM, Sirius and WorldSpace satellite radio around the world and on WBBR 1130AM in New York. In addition, Bloomberg publishes BLOOMBERG MARKETS(R) magazine and BLOOMBERG PRESS(R) books for investment professionals. For more information please visit http://www.bloomberg.com/.

Source: Bloomberg

CONTACT: Judith Czelusniak, Bloomberg LP, +1-212-617-4273,
jczelusniak@bloomberg.net

Web site: http://www.bloomberg.com/

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