Exhibit (c)(1)


February 17, 2003


The Board of Directors
Reuters Group PLC
85 Fleet Street
London EC4P 4AJ
England


Members of the Board of Directors:

You have requested our opinion as to the fairness, from a financial point of
view, to Reuters Group PLC (the "Company") of the consideration to be paid by
the Company pursuant to the Agreement and Plan of Merger, draft dated February
16, 2003 (the "Agreement"), among the Company, Proton Acquisition Corporation,
an indirect wholly owned subsidiary of the Company, and Multex.com, Inc. (the
"Merger Partner"). The Agreement provides for, among other things, a tender
offer (the "Tender Offer") by Proton Acquisition Corporation to acquire each
outstanding share of common stock, par value $0.01 per share, of the Merger
Partner (the "Merger Partner Common Stock") (other than shares of Merger Partner
Common Stock held in treasury or owned by the Company and its affiliates) for
consideration equal to $7.35 per share (the "Consideration") and for a
subsequent merger (the "Merger", and together with the Tender Offer, the
"Transaction") of Proton Acquisition Corporation with and into the Merger
Partner pursuant to which each remaining outstanding share of Merger Partner
Common Stock (other than shares of Merger Partner Common Stock held in treasury
or owned by the Company and its affiliates and shares owned by holders who have
properly exercised their appraisal rights) will be converted into the right to
receive the Consideration.

In arriving at our opinion, we have (i) reviewed a draft dated February 16, 2003
of the Agreement; (ii) reviewed certain publicly available business and
financial information concerning the Merger Partner and the industries in which
it operates; (iii) compared the proposed financial terms of the Transaction with
the publicly available financial terms of certain transactions involving
companies we deemed relevant and the consideration received for such companies;
(iv) compared the financial and operating performance of the Merger Partner with
publicly available information concerning certain other companies we deemed
relevant and reviewed the current and historical market prices of the Merger
Partner Common Stock and certain publicly traded securities of such other
companies; (v) reviewed certain internal financial analyses and forecasts
prepared by the managements of the Merger Partner and the Company relating to
their respective businesses, as well as

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the estimated amount and timing of the cost savings and related expenses and
synergies expected to result from the Transaction (the "Synergies"); (vi)
reviewed certain internal financial analyses and forecasts prepared by the
management of the Company relating to the Merger Partner, including the
Synergies and (vii) performed such other financial studies and analyses and
considered such other information as we deemed appropriate for the purposes of
this opinion.

In addition, we have held discussions with certain members of the management of
the Merger Partner and the Company with respect to certain aspects of the
Transaction, and the past and current business operations of the Merger Partner
and the Company, the financial condition and future prospects and operations of
the Merger Partner and the Company, the effects of the Transaction on the
financial condition and future prospects of the Company, and certain other
matters we believed necessary or appropriate to our inquiry.

In giving our opinion, we have relied upon and assumed, without independent
verification, the accuracy and completeness of all financial and other
information that was publicly available or was furnished to us by the Merger
Partner and the Company or otherwise discussed with us or reviewed by us, and we
have not assumed any responsibility for independent verification of any such
information or liability therefor. In addition, we have not conducted any
valuation or appraisal of any assets or liabilities, nor have any such
valuations or appraisals been provided to us, nor have we conducted a physical
inspection of the properties and facilities of the Company or the Merger Partner
or reviewed any of the books and records of the Company or the Merger Partner.
In relying on financial analyses and forecasts provided to us, including the
Synergies, we have assumed that they have been reasonably prepared based on
assumptions reflecting the best currently available estimates and judgments by
management as to the expected future results of operations and financial
condition of the Merger Partner and the Company to which such analyses or
forecasts relate. We express no view as to such analyses or forecasts, including
the Synergies, or the assumptions upon which they were based. We have also
assumed that the Transaction will have the tax consequences described in
discussions with, and materials furnished to us by, representatives of the
Company and that the other transactions contemplated by the Agreement will be
consummated as described in the Agreement. We have also assumed that the
definitive Agreement will not differ in any material respects from the draft
thereof furnished to us. We have further assumed that all material governmental,
regulatory or other consents and approvals necessary for the consummation of the
Transaction will be obtained without any material adverse effect on the Merger
Partner or the Company or on the contemplated benefits of the Transaction.

For purposes of rendering our opinion we have assumed, with your consent, that
the Synergies described by the Company as being reasonably obtainable will be
obtained and that, in all respects material to our analysis, the representations
and

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warranties of each party contained in the Agreement are true and correct, that
each party will perform all of the covenants and agreements required to be
performed by it under the Agreement and that all conditions to the consummation
of the Transaction will be satisfied without waiver thereof. We have further
assumed that in the course of obtaining any necessary governmental, regulatory
or other consents and approvals, including any necessary amendments,
modifications or waivers to any documents to which any of the Company is a
party, as contemplated by the Agreement, no restrictions will be imposed or
amendments, modifications or waivers made that would have a material adverse
effect on the contemplated benefits to the Company of the Transaction.

Our opinion is necessarily based on economic, market and other conditions as in
effect on, and the information made available to us as of, the date hereof. It
should be understood that subsequent developments may affect this opinion and
that we do not have any obligation to update, revise, or reaffirm this opinion.
Our opinion is limited to the fairness, from a financial point of view, of the
consideration to be paid by the Company in the proposed Transaction and we
express no opinion as to the underlying decision by the Company to engage in the
Transaction or with respect to any other terms of the Transaction. This opinion
does not in any manner address the prices at which shares of the Company's
common stock or the Merger Partner Common Stock will trade prior to the
consummation of the Transaction or the price at which the Company's common stock
will trade following consummation of the Transaction.

We have acted as financial advisor to the Company with respect to the
Transaction and will receive a fee from the Company for our services, including
rendering this opinion. We will also receive an additional fee if the
Transaction is consummated. In addition, the Company has agreed to indemnify us
for certain liabilities arising out of our engagement. As we have previously
advised you, J.P. Morgan plc and its affiliates, in the ordinary course of
business, have from time to time provided, and in the future may continue to
provide, commercial and investment banking services to the Company. J.P. Morgan
plc and its affiliates, in the ordinary course of business, also have from time
to time provided commercial banking services to the Merger Partner, and in the
future may provide commercial and investment banking services to Merger Partner.
In the ordinary course of our businesses, we and our affiliates may actively
trade the debt and equity securities of the Company or the Merger Partner for
our own account or for the accounts of customers and, accordingly, we may at any
time hold long or short positions in such securities.

On the basis of and subject to the foregoing, it is our opinion as of the date
hereof that the Consideration to be paid by the Company pursuant to the Tender
Offer and the Merger is fair, from a financial point of view, to the Company.

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This letter is provided to the Board of Directors of the Company in connection
with and for the purposes of its evaluation of the Transaction. This opinion
does not constitute a recommendation to any shareholder of the Company or the
Merger Partner as to whether such shareholder should tender shares pursuant to
the Tender Offer or as to how such shareholder should vote with respect to the
Merger or any other matter. This opinion may not be disclosed, referred to, or
communicated (in whole or in part) to any third party for any purpose whatsoever
except with our prior written approval. This opinion may be reproduced in full
in any proxy or information statement mailed to shareholders of the Merger
Partner but may not otherwise be disclosed publicly in any manner without our
prior written approval.

Very truly yours,

J.P. MORGAN plc