“The purchase of the remaining share of Vital is a significant strategic move for TSYS,” said Tomlinson. “Vital is the second largest merchant processor in the United States, serving over 1 million merchant locations. This purchase positions TSYS to be a complete provider of value-based services at both ends of the payment chain. Expanding our role in the merchant services sector allows us to strengthen the relationships TSYS enjoys with some of the world’s largest card issuers by placing them closer to the point of sale. In addition, Vital will provide an important outlet for the worldwide expansion of service offerings provided by TSYS and our other subsidiaries.” “We expected to have a strong first quarter, but the results exceeded our expectations. We are very excited about our prospects for the remainder of 2005. As a result of the stellar performance in the first quarter, we are raising our earnings guidance to reflect our encouraged outlook for the year. Our conversion pipeline has approximately 34 million accounts, which are expected to be converted by the end of the third quarter. We believe we have built great momentum that will lead to a break-out year in 2005,” said Tomlinson. TSYS now expects its net income growth to be in the range of 22–25% and revenue growth to be in the 30–33% range for 2005. TSYS’ net income forecast is based on the following assumptions: 1. Revenue before reimbursable items will increase 30–33% in 2005 2. Vital Processing Services will add $225–235 million in annual revenue 3. Accounts on file at the end of 2005 will be between 430 and 435 million 4. No significant client losses or additions through 2005 (other than those previously announced) Conference Call TSYS will host its quarterly conference call at 8:30 a.m. EDT, April 20, 2005. The conference call can be accessed atwww.tsys.com by clicking on the “Conference Call” icon on the homepage. The replay will be available approximately 30 minutes after the completion of the call. — more —TSYS Reports Results For First Quarter 2005/Page 3 of 12About TSYS TSYS (www.tsys.com) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit and prepaid services for financial institutions and retail companies in North America, Europe and the Asia-Pacific regions. Based in Columbus, Ga., TSYS (NYSE: TSS) is closely held by Synovus Financial Corp. (NYSE: SNV), one ofFORTUNE magazine’s “Most Admired Companies” and a member of its “100 Best Companies to Work For” Hall of Fame. For more information, contactnews@tsys.com. This press release contains statements that constitute“forward-looking statements”within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934 as amended by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements regarding TSYS’ expected conversion of the accounts in its pipeline by the end of the third quarter of 2005 and TSYS’ expected net income growth and revenue growth for 2005; and the assumptions underlying such statements, including, with respect to TSYS’ expected increase in net income for 2005, an increase in revenues before reimbursable items of 30-33%; Vital Processing Services adding $225-$235 million in annual revenues; accounts on file at the end of 2005 will be between 430 to 435 million; and no significant client losses or additions through 2005, other than those previously announced. These statements are based on the current beliefs and expectations of TSYS’ management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by the forward-looking statements. A number of important factors could cause actual results to differ materially from those contemplated by our forward-looking statements in this press release. Many of these factors are beyond TSYS’ ability to control or predict. These factors include, but are not limited to, revenues that are lower than anticipated; Vital’s addition to revenue is lower than anticipated; accounts on file at the end of 2005 are lower than anticipated; TSYS incurs expenses associated with the signing of a significant client; internal growth rates for TSYS’ existing customers are lower than anticipated; TSYS does not convert clients’ portfolios as scheduled; adverse developments with respect to foreign currency exchange rates; adverse developments with respect to entering into contracts with new clients and retaining current clients; the merger of TSYS clients with entities that are not TSYS clients or the sale of portfolios by TSYS clients to entities that are not TSYS clients; TSYS is unable to control expenses and increase market share; adverse developments with respect to the credit card industry in general; TSYS is unable to successfully manage any impact from slowing economic conditions or consumer spending; the impact of acquisitions, including their being more difficult to integrate than anticipated; the costs and effects of litigation, investigations or similar matters or adverse facts and developments relating thereto; the impact of changes in accounting principles; overall market conditions; no material breach of the security of any of our systems; and the impact on TSYS’ business, as well as on the risks set forth above, of various domestic or international military or terrorist activities or conflicts. Additional factors that could cause actual results to differ materially from those contemplated in this release can be found in TSYS’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise. — more — |