ContactMail v2.1

Experian has released the v2.1 of its “ContactMail” e-mail delivery and management solution that now offers increased reporting features and improved campaign management solutions. To complete the package, ContactMail’s conversion tracking features and web-based activity reports offer marketers the most efficient means to monitor and evaluate the success of their e-mail marketing efforts.

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Discover 4Q/02

Morgan Stanley reported this morning that profits for its Credit Services or Discover card division grew 9% during fiscal 2002 to $767 million, while profits for the fourth quarter, ending November 30th, were up 1% to $194 million. Discover card portfolio receivables increased a modest 3.7% during the year to $51.1 billion; however, fourth quarter transaction volume soared 14.5% to a record $25.3 billion, as a result of higher balance transfers and an increase in sales volume, presumably driven by Discover’s aggressive 0% APR offers. The 4Q/02 credit card net charge-off rate was 5.96%, 6 basis points lower than the third quarter, but 11 basis points higher than a year ago. Morgan Stanley says the increase in the charge-off rate from fourth quarter 2001 was largely the result of an increase in bankruptcy losses. During the fourth quarter, Discover added 300,000 net new accounts, but active accounts continued to decline. Discover active accounts are down 13% from one year ago. The interest rate spread on Discover’s credit card portfolio contracted by 20 basis points compared to last year’s fourth quarter, driven by a lower finance charge yield which more than offset a decline in the cost of funds. For complete details on Morgan Stanley/Discover’s fourth quarter performance visit CardData ([www.carddata.com][1]).

DISCOVER CARD PORTFOLIO SNAPSHOT
4Q/01* 1Q/02* 2Q/02* 3Q/02* 4Q/02* Y/Y CHNG
Receivables: $49.3b $49.6b $49.4b $49.7b $51.1b +3.7%
Volume: $22.1b $24.1b $23.5b $24.3b $25.3b +14.5%
Accounts: 45.7m 46.0m 46.2m 46.2m 46.5m +1.8%
Actives: 24.0m 23.8m 23.4m 22.8m 22.6m -5.8%
Chargeoffs: 5.85% 6.49% 6.30% 6.27% 5.96% +1.9%
Delinquency: 6.85% 6.75% 5.63% 5.72% 5.96% -13.0%
Yield: 13.48% 12.63% 12.64% 12.71% 12.45% -7.6%

4Q/01 fiscal quarter ended 11/30/01; 1Q/02 ended 2/28/02; 2Q/02 ended
5/31/02; 3Q/02 ended 8/31/02; 4Q/02 ended 11/30/02.
Source: CardData (www.carddata.com)

[1]: http://www.carddata.com

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Card Outlook

The growth in the U.S. card manufacturing market may be flat in 2003 as many issuers postpone smart card deployments for at least another year. Oberthur Card Systemsâ¤_ North American division says banks will opt for translucent plastics and imaginative shapes and forms instead of advanced chip cards. However, identification and security applications will be the growth opportunity for the smart card industry, with the U.S. Government leading the way in the adoption of advanced logical and physical access systems.

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USWD & Pepsi

U.S. Wireless Data has received trademark authorization from Pepsi-Cola North America for its wireless credit card processing solution for vending machines. The trademark authorizes USWD’s “Synapse Enabler” for deployment by Pepsi’s bottling partners in their vending machines. USWD says the solution earned authorization after nearly two years of development and testing in various locations.

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DIRECT ENERGY AIR MILES

Centrica plc’s Direct Energy unit has signed a multi-year agreement to
participate as a “Sponsor” in the Canadian “AIR MILES Reward Program”
offering households in Ontario and Manitoba the opportunity to earn reward
miles for their natural gas usage. The “AIR MILES” program was created and
is operated by The Loyalty Group, an Alliance Data Systems subsidiary. More
than 12.5 million Canadians actively collect “AIR MILES” at more than 100
brand-name sponsors representing over 12,000 retail and service locations
across Canada.

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CTFS RENEWS TSYS

Canadian Tire Financial Services has signed a seven-year renewal agreement
with processor TSYS. Under terms of the contract, TSYS will process
Canadian Tire’s retail, MasterCard and gift card portfolios. Canadian
Tire has worked with TSYS since 1998, when Canadian Tire Financial Services
converted its private-label and MasterCard accounts from an in-house system
to the “TS2” processing system by TSYS. Canadian Tire has more than 1,000
stores and gas bars across the country. More than half of Canadians shop at
Canadian Tire on a monthly basis, and nearly 80% have been in a Canadian
Tire store in the past six months. TSYS has processed card accounts in
Canada since 1989 and is currently capturing 33% of the Canadian market.

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BONUSCARD

Europe’s largest smart payment card co-branding project has contracted
SchlumbergerSema to supply smart cards as well as the associated
personalization and deployment services. To-date, SchlumbergerSema has
delivered nearly two million cards for GarantiBank’s “BonusCard,” which is
a combined debit/credit and loyalty program. The “BonusCard” scheme was
initiated in early 2000, and today 100 retail partners have joined in the
project. GarantiBank’s customers earn loyalty points when they use their
credit/debit cards in participating retail outlets, which include white
goods stores and sports shops, as well as petrol stations and
supermarkets. These points are stored securely on the cards, for the
consumers to spend at any of those outlets, whenever they choose.

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JCC STRIKE

The labor strike at JCC Payment Systems has been settled, putting an end
to the three-day freeze on credit and debit card transactions in Cyprus.
Transactions on all payment cards resumed normally this week. Reportedly,
intense pressure from Cypriot merchants forced the labor action to end. The
stoppage on card transactions was prompted by a decision last week by
Cypriot banks to prevent card transactions being processed via JCC Payment
Systems Ltd. Cyprus banks said last week JCC was unable to guarantee a 100%
efficient service as normally expected by the banking community.

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Sandia & Corillian

NM-based Sandia Laboratory Federal Credit Union, with 50,000 members, says it will migrate its on-premise deployment of the “Corillian Voyager” Internet banking platform to Corillian’s hosted data center. The Corillian Voyager platform is housed on a server platform solely dedicated to each institution. Within Corillian Hosting Services, SLFCU will have certified professionals performing daily monitoring and maintenance of the Corillian Voyager platform, 24 hours a day, seven days a week.

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