Exhibit 99
TSYS News Release
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For immediate release
Contacts:
Eric S. Bruner Danita Gibson-Lloyd Leo Berard
TSYS Media Relations TSYS Media Relations TSYS Investor Relations
+1.706.644.8457 +1.706.649.5578 +1.706.644.6081
ebruner@tsys.com dglloyd@tsys.com leoberard@tsys.com
Thomas Kelly David Webster
Bank One Corporation Bank One Corporation
Media Relations Media Relations
+1.312.732.7007 +1.302.282.6805
thomas_a_kelly@bankone.com david_c_webster@bankone.com
BANK ONE SELECTS TSYS TO UPGRADE CARD PROCESSING
Largest issuer of Visa credit cards will insource processing in 2006
CHICAGO and COLUMBUS, Ga., March 3, 2003 -- Bank One Corporation (NYSE: ONE) has
selected TSYS(R) (NYSE: TSS) to upgrade and eventually insource its credit card
processing. The agreement provides for Bank One to move to the TS2 technology
platform when its contract with First Data Corporation (NYSE: FDC) ends in 2004.
Under the unique agreement with TSYS, Bank One would shift its
credit-card processing to the TS2(R) platform in mid-2004 and TSYS would
maintain all card-processing functions, such as account transaction information,
for two years. In 2006, Bank One would transfer the processing services in-house
under a license of the TS2 software.
"This project will allow us to serve customers through the best, most
cost-effective infrastructure in the marketplace, allowing us to introduce
innovations faster and deliver individualization, a core strategy for deepening
the value we offer our customers," said Jamie Dimon, Bank One chairman and CEO.
"The phase-in allows us to license the software, control this core function and
plan a seamless transition for customers."
Bank One serves 50 million cardmembers who spend more than $155 billion
annually on their cards and have outstanding balances of more than $70 billion.
"With our TS2 software, TSYS offers the new processing capabilities and
expertise that Bank One needs for future growth and innovation," says TSYS
President Philip Tomlinson. "This unique approach extends TSYS' service offering
to the large issuers that desire to process in house. Many of these issuers are
in need of new technology that can offer the flexibility and scalability to
effectively serve their customers."
TSYS will host an analyst conference call at 10 a.m. EST, March 3,
2003, to discuss the impact of this agreement. The conference call can be
accessed live at www.tsys.com. A replay will be available 30-45 minutes after
the call.
-- more --
Bank One Selects TSYS to Upgrade Card Processing/p. 2
About Bank One
Bank One Corporation is the nation's sixth largest bank holding company, with
assets of more than $275 billion. In addition to credit cards for consumers and
businesses, Bank One offers a full range of financial services to large
corporate and middle market commercial customers and retail consumers. It can be
found on the Internet at www.bankone.com.
About TSYS
TSYS (NYSE: TSS) (www.tsys.com) brings integrity and innovation to the world of
electronic payment services as the integral link between buyers and sellers in
this rapidly evolving universe. Synovus (NYSE: SNV) owns an 81-percent interest
in TSYS. For more information, contact news@tsys.com.
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