The Shared National Credits Program Reports Large Increase

The Shared National Credits Program reports large increase in credit volume
and significant deterioration in credit quality. The volume of Shared National Credits (SNC) loan commitments of $20
million or more and held by three or more federally supervised
institutions, rose 22.6 percent to $2.8 trillion, and the volume of
criticized credits increased to $373.4 billion, or 13.4 percent of the
SNC portfolio, according to the 2008 SNC review results released today
by federal bank and thrift regulators. he results of the
review–reported by the Board of Governors of the Federal Reserve
System, the Office of the Comptroller of the Currency, the Federal
Deposit Insurance Corporation, and the Office of Thrift Supervision–are
based on analyses prepared in the second quarter of 2008 of credit data
provided by federally supervised institutions as of December 31, 2007.
The record growth in credit volume is concentrated in large syndicated
loans that were underwritten in late 2006 and the first half of 2007 led
by the Media and Telecom, Utilities, Finance and Insurance, and Oil and
Gas industry sectors. The SNC portfolio experienced nominal growth in
the last half of 2007.

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Citi and Wells Fargo Reach No Agreement for Wachovia

Citi has not reached an agreement with Wells Fargo in the acquisition of Wachovia. The differences in the parties’
transaction structures and their views of the risks involved made it
impossible to reach a mutually acceptable agreement. Citi’s transaction, which it remains willing to complete, protected
Wachovia’s holding company debt and its subsidiary banks, while limiting
the risk to Citigroup and generating value for its shareholders. The
transaction also preserved substantial value for Wachovia’s shareholders
and other holding company stakeholders without exposing Citigroup to
Wachovia holding company liabilities it declined to assume. Finally,
Citigroup agreed to pay $12 billion to the FDIC, and to incur up to $42
billion of losses, in exchange for the contingent loss protection the
FDIC agreed to provide. Citi believes that it has strong legal claims against Wachovia, Wells Fargo and their officers, directors, advisors and others for breach of contract and for tortious interference with contract. Citigroup plans to
pursue these damage claims vigorously on behalf of its shareholders.
However, Citigroup has decided not to ask that the Wells Fargo-Wachovia
merger be enjoined.

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CheckFree Health and Fitness has Released CheckFree Compete

Fiserv’s CheckFree Health and Fitness has released “CheckFree Compete” software targeted to health and fitness clubs. Each version of CheckFree Compete includes modules for check-in,
point-of-sale, data entry, billing, gift card purchasing and redemption and reporting. “Compete” is offered in both an
easily updated web-based version and in a software version ideal for
clubs that prefer to utilize in-house applications, enabling clubs of
all sizes to be more efficient and profitable. “CheckFree Compete” was developed with security in mind and provides clubs
with a tool to help ensure that transactions, both point-of-sale (POS)
and batch, are securely processed. CheckFree Compete software has been
designed based on requirements of the Payment Application Data Security
Standard, a best practice published by the Payment Card Industry (PCI)
Security Standards Council, for merchants and service providers that
store, process and transmit cardholder data, helping to ensure the
security of such information.

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SHELL CITI VISA

Shell Citi Visa credit cardholders nationwide no have access to 24/7 roadside assistance.
This new feature enables Shell Citi Visa credit cardholders to seek help from the 24-hour Nationwide Roadside Assistance through International SOS. Shell Citi Visa credit cardholders can also enjoy onsite vehicle repair assistance to change a tire, jumpstarting the car, or re-charging of the car battery. Shell Citi “Gold” cardholders can also take advantage of exclusive benefits such as assistance to arrange for alternative travel; rental transport and hotel accommodation. Gold cardholders can also seek police, ambulance, and locksmith and motor vehicle registration support via the 24-Hour Motorist Hotline. Shell Citi cardholders also get exclusive discounts at Shell Helix Service Center: 5% discount on Shell Helix Plus Package or 10% discount on Shell Helix Ultra Package.

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NCR is the World’s Leader in ATMs for the Past 22 Years

NCR Corporation hits yet another milestone as the world’s leader in
self-service ATMs for the 22nd consecutive year. Retail Banking Research’s “Global ATM Market and Forecasts to 2013” report confirms NCR as
the largest ATM manufacturer globally with an installed base market
share of 30.1 percent. RBR also indicates NCR holds a leadership
position in China, with an installed base market share of 32 percent,
and in the North American market with an installed base market share of
26.4 percent. In the recently released ESP Payments Practice report, “The
Future of ATMs: 8th Annual Market Tracking Study,” NCR is named the
market leader in ATM shipments to the financial industry in the United
States. Based on ESP’s market research, in 2007 NCR shipped more ATMs to
U.S. banks, credit unions and other financial institutions than any
other ATM provider worldwide.

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TSYS Third Quarter Revenues Rise 9% Y/Y

TSYS reported third quarter revenues of $500.4 million, an increase of 9% year-on-year. However, net income for the quarter deceased 1% to $64.1 million. During the quarter, Merchant Services POS transaction volumes rose by 2%, while North American Services revenues increased by 7%, compared to 3Q/07. Global Services revenues gained 32% year-on-year. During the quarter TSYS signed a multi-year commercial and consumer credit card processing agreement with First Citizens Bank of North; signed a multi-year agreement with Banco Wal-Mart de México
Adelante to launch its consumer credit card; inked an agreement with Metrofinanciera for the launch of a new credit card program in Mexico; and formed a partnership with Paragon Benefits in the roll-out of
the My Care Card to provide an “off-the-shelf” card product for
flexible benefit payment processing. For complete details on TSYS’s third quarter performance visit CardData ([www.carddata.com](http://www.carddata.com)).

TSYS REVENUE
3Q/07: $458 million
4Q/07: $458 million
1Q/08: $462 million
2Q/08: $483 million
3Q/08: $500 million
Source: CardData (www.carddata.com)

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LIBERCARD

Libercard, ViVOtech and Inteligensa have collaborated to develop the first combination contactless payment card now in use in Fortaleza. Libercard has enabled tens of thousands of transit
riders with dual-purpose prepaid contactless cards to ride transit, pay
for purchases and perform top-ups at several hundred retail stores that use ViVOtech contactless payment devices implemented with
Inteligensa integration expertise.Libercard is the new innovating concept from the Guanabara Group, a
large Brazilian corporation dedicated to the mass transportation of
passengers than more that 50 years. The group also has a successful
performance in the fields of tourism, hotels, banking activities and
commerce of vehicles. The Libercard Company was created by the Guanabara group to design and deliver new product concepts
that bridge credit cards, employee benefit management, transportation
and more using advanced technology solutions. The Inteligensa Group is one of the top payment card
manufacturers in the world and market leader in Latin America, with
extensive experience in both contact and contactless chip cards.
ViVOtech is the market leader in NFC mobile payments, promotions,
Over-The-Air provisioning infrastructure software, transaction
management software, NFC smart posters and contactless terminals.

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First Data has Hired Robert DeRodes as CTO

First Data has hired Robert DeRodes, previously with Home Depot, as its new CTO. As executive vice president and chief information
officer for The Home Depot, DeRodes was responsible for leading the
company’s technology transformation over the last seven years. He
also served as chief executive officer for Delta Technology, Inc. and
chief information officer for Delta Air Lines, Inc. In these roles, he
was responsible for all aspects of global technology and communications
for the airline’s operations. Prior to Delta, DeRodes was chief technology officer for Citibank N.Y.
Global Card Products Group, where he was responsible for the development
and implementation of a global cards technology platform. He earned a BS in business administration from
St. Louis University and an MBA
from the University of Texas in Austin.

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Chase & WaMu Customers Have 14,000 Fee Free ATMs

Chase and WaMu customers will now have fee-free access to 14,000 Chase or WaMu ATMs in the United States. Chase and WaMu customers can now make withdrawals and balance inquiries with no fee at any Chase or WaMu ATM. Those same customers will eventually be able to make deposits at the combined network of ATMs and have access to a network of more than 5,400 branches as computer systems are converted. Chase and WaMu have ATMs in 27 states.

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Virgin America Visa Signature Card

Virgin America and Barclaycard US,have launched the co-branded “Virgin America Visa Signature Card”. The Virgin America ‘Absurdly Simple’ Visa Signature Card rewards
cardholders with triple Elevate points on all Virgin America purchases,
enabling them to quickly earn free travel on the airline. As a special bonus, customers who apply by Nov. 30, 2008 will have an
opportunity to earn a free one-way ticket*. Once guests are approved and
use their card they can earn bonus Elevate points after their first
purchase and bonus points for balance transfers. Members can use their card
to earn three points for every $1 spent on Virgin America flights and on
all purchases, such as films, snacks, and cocktails on the airline’s RED
in-flight entertainment system. Members will also rack up points for all
other purchases at the rate of one point for every dollar spent. Consumers can pre-register for the card on the Virgin
America Web site. Cardholders can
start earning points on Virgin America’s first-of-its-kind no black-out
date loyalty program, Elevate, beginning Oct. 23.

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HOSTED DATA & ECOM

Hosted Data Transaction Solutions has entered into a five year agreement with ECOM
EcomCard Canada to market,
sell, and distribute prepaid “eCOM Gift Card MasterCard” and reloadable “eCOM
Prepaid MasterCard” cards. “eCOM Prepaid MasterCard” reloadable cardholders can use their card to make purchases or cash withdrawals at an ATM. Purchases and cash withdrawals are
deducted from the account balance and as the balance is spent, the cardholder can reload additional funds onto their card and are ideal for internet or telephone purchases as they offer cardholders the added security of knowing that there is no link to a credit card with a high amount of available credit,nor links to any consumer banking information. Cardholders can also activate
new cards and review their purchase history and card balance on-line.
HDX manages merchant transactions with consumers and facilitates payment. ECOM is a developer and marketer of prepaid gift,
payroll, travel, rebate, and incentive cards under the MasterCard brand.

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