Sovereign & FDMS

Sovereign Bank and First Data Merchant Services are launching a new merchant services program that will give Sovereign business customers access to the nation’s largest electronic payment processing network. The program will be marketed as ‘Sovereign Merchant Services’. Marketing efforts will focus on more than 500 Sovereign Bank community banking offices and cash management groups in the New England and mid-Atlantic regions. First Data Merchant Services will assign 35 New England-based sales executives to Sovereign Merchant Services. First Data anticipates adding 30 more staff, including sales management and client relations personnel, over the next year to increase support in the mid-Atlantic market. FDC has also appointed Paul DeFlavio as the general manager for ‘Sovereign Merchant Services’.


Jackson to HH

Household International, , the $101 billion (managed assets) consumer lender, announced that Diane Jackson has joined the company as director of community relations. Jackson will report directly to Craig Streem, vice president of corporate relations and communications.

As director of community relations, Jackson will be responsible for the design and implementation of the company’s strategy to link corporate philanthropy, consumer education and community relations activities. One of Jackson’s initial assignments will be implementing the company’s financial literacy initiatives, most notably through the recently announced Household financial literacy grant.

“With a wealth of community relations experience and a strong financial services background, Diane is ideally qualified to help Household develop and implement innovative outreach programs that will make a real impact,” said Craig Streem. “Diane is the right person to help us continue and strengthen our 123-year commitment to improving the quality of life in the communities where we do business.”

Jackson brings more than 15 years of community relations experience to Household. Previously, she served as the director of diversity and community relations for ING Aetna Financial Services in Hartford, Conn. In that role, Jackson was instrumental in the development and execution of programs designed to bring financial and business education and tools to youth in major cities across the country. While there, she also led many of the company’s diversity initiatives, including recruiting, mentoring and advertising.

Jackson graduated cum laude from Northeastern University in Boston, MA. She will be based at Household’s Prospect Heights, Ill., headquarters.

About Household

Household’s businesses are leading providers of consumer loans, credit card, auto finance and credit insurance products in the United States, United Kingdom and Canada. In the United States, Household’s largest business, founded in 1878, operates under the two oldest and most widely recognized names in consumer finance- HFC and Beneficial. Household is also one of the nation’s largest issuers of private-label and general purpose credit cards, including the GM Card and the AFL-CIO’s Union Plus card. For more information, visit the company’s web site at .



SSP Solutions, Inc. providing solutions and services that enable secure, real-time movement of financial transactions and valued digital content, announced the world’s first secure and anonymous Internet commerce transaction solution securing ATM and debit cards — the equivalent of cash — as well as traditional credit cards for Internet purchasing. Banco Nationale de Credito will go live with this technology via the Internet, using SSP’s bundled hardware and software package uniquely enabling embedded two-factor authentication required for ATM, credit or debit transactions. Available worldwide, initially the program will be rolled out to 2,000 consumers in the Dominican Republic with larger deployment scheduled for the following quarter.

“Merchants are anxious to leverage ATM and debit card business opportunities — expanding their customer base and reducing repudiation and fraud associated with traditional credit card transactions,” said Rob Gorman, managing director of strategic affairs SSP Solutions, Inc. “We’re moving quickly to support this initiative and deliver a powerful product specifically designed to secure ATM and debit customer segments for online shopping.”

The package includes the SSP Solutions branded ETSS (Enhanced Transactional Secure Software) application and a secure SSP(TM) EMBASSY(R) (EMBedded Application Security SYstem) card reader that connects directly to the consumer’s PC. The reader is both mag-stripe and smart-card compatible and uses a secure numeric keypad for PIN and password entries. ETSS is the world’s first embedded non-repudiation card present software that enables merchant to secure transactions without the actual credit, debit or ATM customer account numbers available to the merchant, thereby protecting both the consumer and the merchant from account number database fraud and unauthorized intrusions. Both VISA and Mastercard are supported by this technology. Several recent well-publicized illegal intrusions of merchant databases have resulted in thousands of consumer debit and credit card account numbers being stolen, and the embedded SSP ETSS software eliminates this risk to the merchant.

SSP also exclusively licensed on a worldwide basis the marketing and deployment rights of ETSS software originally developed by a joint venture of SSP and Freestar Technologies. Banco National de Credito is the first major banking organization to actively deploy this solution.

About SSP Solutions, Inc.

SSP Solutions, Inc. develops and distributes the SSP(TM) Security Suite of hardware, software, and embedded security products designed as the Trusted Symbol of the Digital Economy(TM). SSP products embed security and trust throughout the transaction chain protecting electronic communications and financial transactions, network access, and the exchange of copyrighted digital content. By combining our own technology with a range of partners’ technologies and intellectual properties, SSP products represent the first, open embedded security architecture simultaneously supporting public key infrastructure (PKI) and multiple standards of digital rights management. SSP’s custom-made enterprise security solutions address digital rights management, financial services, government, entertainment, healthcare, and education — and form the heart of a ten-year alliance with Electronic Data Systems (NYSE:EDS), the nation’s largest systems integrator and a global leader in information assurance. For additional company information, visit com .

About Freestar Technologies, Inc.

Freestar Technologies, Inc.’s Enhanced Transactional Secure Software (“ETSS”), a proprietary software package that enables consumers to consummate secure e-commerce transactions over the Internet using credit, debit, ATM (with PIN) or smart cards. The ETSS system integrates a consumer-side card-swipe terminal with a back-end host-processing center. It encrypts sensitive financial data at the consumer’s personal computer, using powerful DES encryption and algorithms. It sends an authorization number to the e-commerce merchant, rather than the consumer’s credit card information, to provide a maximum level of security. The Company plans to link several large, established smart card systems together on an ETSS-based standard to achieve economies of scale and further market penetration for this secure e-commerce payment system.



LLC, a leading B2B electronic invoice presentment and payment consolidator, and KUBRA, the leader in customer communication and relationship management outsource solutions, announced that they have entered into a
strategic alliance. The new partnership offers mutual customers advanced
capabilities in the complex financial supply chain environment with respect to
the invoice-to-collect and procure-to-pay processes.
The alliance between KUBRA and BillingZone will deliver exceptional value
to participating companies with large B2B invoice volume. The partnership
channels KUBRA’s electronic invoices, statements and credit memos into the EIPP consolidated service most preferred by business
payers. Billers will enjoy the benefits of an integrated EIPP solution that
offers paper-based, EDI, Web-based, and consolidated invoice and payment
processes rather than fragmented solutions for presentment and payer
consolidation services. The new alliance offers customers access to all types
of invoicing and provides consolidation to business payers for the greatest
usage and penetration.

“KUBRA recognizes that we need flexible invoice solutions to maximize our
reach and meet the needs of billers,” said Rick Watkin, president and chief
executive officer, KUBRA. “The alliance with BillingZone allows us to offer a
complete suite of services to billers. We also understand that payer
communities have different needs. As a supplier of e-products, we are
providing a solution today that is designed for the future so that customers
can grow with KUBRA as their one-stop provider. BillingZone is the only
consolidator in operation today that can deliver quality EIPP services to
KUBRA’s customers.”

“At BillingZone, we have built the leading consolidator service for B2B
EIPP to be open to invoices and payments from the majority of sources and
formats,” said Eric Smith, president and chief executive officer of
BillingZone, LLC. “For KUBRA’s customers, this will mean that more of their
customers will be able to access, review, and pay their bills electronically.
This leads to the robust cost-savings and enhanced customer relationships that
KUBRA’s customers expect from e-billing. We are pleased to be working with
KUBRA to offer this valuable service to their customers.”
KUBRA’s offering, KUBRA e-invoice(TM), was designed as a straightforward
interactive environment for payee and payer process stakeholders in the
invoice-to-collect marketplace. It is a complete end-to-end B2B EIPP solution
that delivers workflow and dispute handling, interactive customer care,
payment processing and personalized marketing with respect to digital invoice
creation and delivery. The product’s enhanced customer self-care features and
its streamlined workflow for receipt, review, dispute, approval and payment of
invoices enables billers to simultaneously reduce support costs while
providing business customers with greater convenience and improved service.
Under the new alliance with BillingZone, customers using the KUBRA
e-invoice(TM) product suite will be offered advanced distribution of
electronic presentment and payment services to their associated payer
communities through the service. BillingZone recently
launched its Open Alliance Program, offering companies an easy, flexible path
to link existing software and Web site solutions with an Internet service that
offers a broad network of participants. BillingZone consolidates
transactional data from multiple invoicing sources into one centralized hub,
efficiently distributes invoices to multiple customers through the Web site, offers a sophisticated set of payables
functionality, and provides financial reconciliation back to the suppliers
through their existing banking, credit card and settlement relationships.


KUBRA leads the market in delivering comprehensive customer communication
and customer relationship management outsourced solutions. KUBRA has
leveraged their expertise in these skill sets to offer various business
communities personalized interactive customer communication and management
solutions. Since the company’s inception in 1992, they have created a
multinational corporation that creates value for their customers in the form
of enhanced access to new markets, reduced costs and increased profitability.
KUBRA’s capabilities in data processing, print production, electronic
presentment and delivery and secure payment processing allows them to provide
customer communication solutions through any channel and to facilitate the
communication program throughout its entire life cycle — from document
conception and presentment to customer response and payment. More information
on the Company is available on the Internet at .

About BillingZone, LLC

BillingZone, LLC offers a business-to-business electronic invoice
presentment and payment service that provides businesses a consolidated model
for presenting, receiving and paying invoices on the Internet. The service is
expressly designed to meet the needs of corporate billers and payers and
provides to payers the convenience of paying multiple bills at one site.
BillingZone helps companies streamline the complexity of invoicing and payment
processes, realize cost savings by eliminating paper and manual processes, and
speeds up the communication between companies and their customers or
suppliers. BillingZone, LLC is a joint venture of two industry leaders, PNC
Bank, N.A., a member of The PNC Financial Services Group, Inc. (NYSE: PNC),
and Perot Systems Corporation (NYSE: PER). Please contact BillingZone, LLC at
(412) 705-3000 or via e-mail at Additional information
is available on the company’s web site at .



The governors of ten commercial banks yesterday signed an agreement to link their ATM networks with real-time clearing. The agreement also includes provisions for the ten banks to pool resources for other deals such as syndicated loans. The ten banks include: The banks are the Bank of Communications, Citic Industrial Bank, China Merchants Bank, Shenzhen Development Bank, Guangdong Development Bank, Fujian Industrial Bank, China Everbright Bank, Huaxia Bank, Shanghai Pudong Development Bank and China Minsheng Banking Co Ltd.


FAP Hires Lee

First American Payment Systems, L.P., one of the fastest growing merchant credit card processing acquirers in the U.S., is pleased to announce that Colleen Lee has joined the company as Vice President of Sales and Marketing. Ms. Lee’s main responsibilities are to manage the explosive sales growth of First American and to further develop the already strong relationships between First American and its sales offices.

With 16 years’ experience in the electronic payments industry, Ms. Lee has proven herself to be a leader in business development with strong sales and marketing strategies. In addition, she has a solid track record of effective sales techniques, motivational skills and relationship management. Ms. Lee has held positions at National City Processing Co., First Data Corp., Envoy Corp., and Triton Systems, Inc.

According to Stephen Robins, Senior Vice President of Sales and Marketing, First American has spent several months seeking the right individual to increase the success of the company’s sales and marketing areas. “Colleen’s many talents, industry experience and debit expertise will provide a greater depth of knowledge available to our Sales and Marketing Team along with our Agents and ISO’s. We are looking forward to Colleen’s contribution to the success of First American,” he said.

Ms. Lee’s previous contact with First American was as a vendor. “During that time, I was extremely impressed with the company’s high standard of service to their sales offices and customers. I am excited to now be a part of that team and to further develop these relationships, as well as have the opportunity to enhance the overall sales and marketing effort,” Ms. Lee said.

About First American

First American Payment Systems, L.P. provides full-service electronic credit card authorization and payment systems to retail, restaurant, mail order, telephone order, Internet and home-based merchants throughout the United States. First American’s divisions include national ATM deployment, Secur-Chex(TM) check guarantee, FirstPay.Net(TM) e-commerce payment gateway, and Merimac Capital point-of-sale equipment and ATM leasing. The company also offers electronic gift certificates and electronic check conversion. First American provides services for more than 25,000 merchants and operates 280 ATMs nationally. For more information on First American Payment Systems, visit the company’s website at [][1].




Giesecke & Devrient and Welcome Real-time announced a technology agreement
in order to collaborate on providing off-the-shelf EMV payment and loyalty
cards for card issuers and retailers.
The main goal for this agreement is to focus on ensuring the compatibility
of Welcome Real-time s XLS (eXtended Loyalty System) within Giesecke &
Devrient’ range of EMV debit and credit cards.

For the first time, Giesecke & Devrient offers payment and loyalty
functions on its cards. Cardholders will experience a seamless payment and
loyalty transaction at merchant point of sale (POS) payment terminals, even
though, for security reasons, the two applications are kept separate on the
smart card’s chip. Frequent visit rewards and/or points will be issued in
real time at the point of sale and stored on the card’s chip.

The product is to be certified by the payment organizations in the coming
weeks and banks can already place orders for the cards from Giesecke &
Devrient on an off-the-shelf basis. Welcome Real-time will demonstrate the
cards in G&D’s booth, T44 Hall Curie, at Cartes 2001, Oct. 23 25 in Paris.
“We are proud to be part of Giesecke & Devrient s new line of EMV
cards. Through this association, it becomes even easier for banks to
enhance the standard EMV payment transaction with revenue boosting features
that encourage increased card usage,” said Aneace Haddad, president & CEO
of Welcome Real-time.

“This initiative is key to delivering the smart card’s promise of greater
convenience. Customers worldwide will soon be able use their Giesecke &
Devrient smart bank cards for payment and loyalty at a large number of
retail establishments,” said Dieter Bulle, executive vice president for
G&D’s Payment Division.

Star Debit/Credit, Giesecke & Devrient’s product line for debit and credit
smart cards, is fully compliant with the current EMV standard and committed
to all future standard enhancements. StarDC V is the secure solution for
Visa’s smart debit/credit cards and StarDC M, the secure solution for
Europay s and MasterCard s M/Chip Lite.

About Giesecke & Devrient

Giesecke & Devrient (G&D) is an international technology-orientated group
with over thirty subsidiaries worldwide. G&D is a market leader in the
areas of banknotes and securities, banknote and security paper, banknote
processing systems as well as cards, components and complete
multifunctional smart card systems for the electronic payment and
telecommunications sectors. The group also offers consultancy services and
complete solutions for trademark protection and security in commerce.
With a workforce of about 5800, the company achieved sales of DM 2 billion
in 2000.

About Welcome Real-time

Welcome Real-time s smart transaction platform enhances payment
transactions with revenue boosting services such as instantly awarded
loyalty points, coupons, punch cards, vouchers, tickets, cash back & all in
a single convenient payment process.

The company’s patents provide broad protection in Europe, North America and
Asia. More than 17 patent applications cover the ability to dynamically
manage services relating to entries, visits or cumulative spending at
designated merchants, the ability to add and redeem e-coupons from a smart
card, or the use of mobile phones and hand held devices to perform smart

Welcome Real-time is headquartered in Aix-en-Provence, France, with offices
in Philadelphia and Singapore. For additional information please visit our
Web site


Debt Slowdown

For the first time in nine years overall consumer credit failed in grow in two consecutive months and for the first time in four years overall consumer borrowing decline. Revolving credit, mostly credit card debt, remained flat during July. The news adds more evidence that the economy is in for some rough sailing during 3Q and 4Q. Strong consumer spending in the face of an abrupt business contraction has held off a full blown recession this year. However the situation is changing as unemployment rises and consumer economic concerns mount. According to preliminary figures released yesterday afternoon by the Federal Reserve, revolving debt remained flat at $700.3 billion during July. Non-revolving debt also remained flat at $888.9 billion. At the end of July, American consumers were $1.590 trillion in debt, exclusive of home mortgages.


Jul01 Jun01 May01 Apr01 Mar01 Feb01 Jan01
%GRWTH: -0.1% 2.1 4.5 14.2 11.9 20.8 11.6
$OWED: $700.3 700.3 699.0 697.6 688.2 681.4 670.3

Dec00 Nov00 Oct00 Sep00 Aug00 Jul00 Jun00
%GRWTH: 5.0% 10.9 4.7% 7.8 12.6 6.7 11.2
$OWED: $663.4 660.6 654.8 649.3 645.1 638.2 634.7

Source: Federal Reserve; revised figures as of 08/10/01;
For complete historical data visit



Euronet Worldwide, Inc., a leading provider of secure financial transaction solutions, announced that Daniel R. Henry has been appointed President of the company, in addition to his Chief Operating Officer role.

Mr. Henry, who co-founded the company in 1994 with Michael Brown, has served as the company’s COO for the past five years. Brown previously held the title of President and will continue in his functions as Chairman and Chief Executive Officer.

In 1994, Mr. Henry established the Company’s first European office in Budapest, Hungary. For the next five years, Mr. Henry carried the day-to-day responsibilities of growing and managing the company’s ATM and transaction processing business across Europe. In 1999, when he returned to Euronet’s corporate office in Leawood, Kansas, the Company’s European business had expanded to eight countries, 200 employees, and had annual sales in excess of $25 million. Since his return to the U.S., Mr. Henry has been instrumental in the Company’s drive to being EBITDA positive and continues to oversee the growth of the business in EMEA (Europe, Middle East and Africa) and expansion into new markets. The Company’s EMEA region now consists of offices in ten countries: Hungary, Poland, Germany, Croatia, Czech Republic, Romania, France, Egypt, Greece, and the United Kingdom.

“Dan Henry and I have been partners in Euronet from the beginning,” said Brown. “He is one of the most dedicated, knowledgeable and capable individuals with whom I’ve had the pleasure of working. Dan has assumed increased responsibilities over the past two years, and I consider this appointment to be long overdue!”

Euronet Worldwide also announced that since June 30, 2001, it had exchanged an aggregate principal face amount of DEM 34 million of its 12 3/8% senior discount notes for an aggregate of 1,157,000 shares of its common stock. The DEM 34 million exchanged includes DEM 30 million in exchanges that were previously reported as a subsequent event in Euronet Worldwide’s Form 10Q for the period ended June 30, 2001. As a result of these exchanges, Euronet’s 12 3/8% senior discount notes are reduced to a principal face amount of US $51.4 million (US $46.0 million in carrying value) as of August 31, 2001. The decrease in the company’s indebtedness since June 30, 2001, will result in an annual interest expense savings of approximately DEM 4.2 million (US $2.0 million per year).

“These exchanges are very positive,” said Brown. “They reduce our long-term debt and improve our balance sheet, and are another step towards profitability.”

About Euronet Worldwide

Euronet Worldwide is a global leader in the rapidly evolving arena of electronic financial transactions. The company provides software and service solutions to a wide array of industries from retail banking to mobile operators, enabling them to offer customers secure access to their personal financial information — any time, any place. Euronet operates transaction-processing centers on three continents, including owning and operating the largest independent ATM network in Europe. With corporate headquarters in Leawood, Kansas, USA, and European headquarters in Budapest, Hungary, Euronet Worldwide employs approximately 400 people in 15 locations. Additional information is available at the company’s web site,


TradeCard Funding

TradeCard, Inc, the financial supply chain service provider, announced that it has raised an additional $25.5 million of equity capital.

TradeCard has raised a total of $70 million of equity capital since inception. Warburg Pincus, the private equity investment firm and majority shareholder in TradeCard, led and guaranteed the successful completion of the round. In addition, a number of other TradeCard shareholders also participated in the financing.

TradeCard Chairman and CEO Kurt Cavano said: “This funding comes at a point when the company is growing its member base, dramatically increasing transaction volume, and moving on a path to profitability. This round ensures that we get there sooner rather than later.” Continuing, Cavano added: “Our investors’ expanded commitment to TradeCard is one of the best validations of a company in the current market environment. This environment requires companies to think smarter about their businesses. TradeCard has the tools that enable companies to collaborate online with their trading partners resulting in improved efficiencies and lower costs.”

TradeCard provides an alternative to traditional paper-based, expensive and labor-intensive trade settlement methods. The web-based system enables buyers and sellers to initiate, conduct and settle transactions online through a secure network.

Cary Davis, Managing Director of Warburg Pincus, said, “Many companies now are looking for ways to reduce costs, which is one of the benefits of implementing TradeCard’s solution. TradeCard services and technology allow companies to manage their financial supply chain more effectively, reducing working capital, mitigating risk and providing significant process efficiencies.”

Warburg Pincus made its initial investment in TradeCard in 1999. Added Davis: “Unlike other companies in the online payments marketplace, TradeCard is not just talking about these capabilities; they are completing transactions today. This financing provides TradeCard the capital to cement their position in the market. ”

TradeCard has achieved many important milestones to date, including:

— The development and commercial launch of TradeCard’s initial web-based transaction management and financial settlement offering in April 2000

— Partnerships with over a dozen banks that include Comerica, Fleet, Bank of East Asia and Bank SinoPac. These banks provide TradeCard product sales and service support as well as financing to TradeCard members

— A network with over 40 logistics companies including Fritz & Co., Jardine, and Dimerco; 80% of the industry’s inspection providers; Coface, the leading provider of export credit insurance; Marsh, the largest broker of cargo insurance; and Thomas Cook, a leading money movement provider

— A partnership with MasterCard International to provide businesses-to-business payment capabilities for small as well as large dollar purchases

— An alliance with Cap Gemini Ernst & Young to provide financial supply chain tools to CGE&Y clients and prospects

— The Spring 2001 launch of TradeCard’s enhanced platform. The platform hosts a full suite of financial settlement products that enable buyers and sellers to track and settle virtually any type of domestic or cross-border financial transaction

— Over 600 active users of the TradeCard system, including RadioShack, Wolverine World Wide, SK Global and International Playthings — Acknowledgment by Global Finance magazine as “Best Online Trade Finance Service Provider” for 2001

— Technologic Partners’ recognition of TradeCard as one of the top ten privately held e-finance companies voted most likely to succeed at their Financial Services Outlook conference in August 2001

— The launch of TradeCard Japan K.K., a joint venture backed by Mitsui & Co, Ltd, Mitsubishi Corporation and Warburg Pincus

About TradeCard, Inc.

TradeCard is a financial supply chain service provider. TradeCard’s secure transaction infrastructure greatly reduces the inefficiencies and uncertainties found in traditional domestic and cross-border trade transaction processes. By streamlining and enhancing the steps necessary for purchase order approvals, payment decisions and settlement, TradeCard provides a cost-effective, practical and patented service for financial supply chain management. TradeCard, Inc. is headquartered in New York City with offices in San Francisco, Seattle, Chicago, Hong Kong, Taipei, Seoul and London. TradeCard can be found on the World Wide Web at .

About Warburg Pincus

Since 1971, Warburg Pincus has invested approximately $12 billion in 450 companies in 29 countries. The firm currently has $10 billion under management, with an additional $5 billion available for investment in a range of industries including: business services, communications, financial services, healthcare and life sciences, information technology, media and natural resources. Throughout its 30-year history in private equity, Warburg Pincus has invested at all stages of a company’s life cycle, from founding start-ups and providing growth capital to leading restructurings, recapitalizations and buy-outs. Warburg Pincus has experience investing in many industries, including enterprise software and financial services, where past portfolio companies include BEA Systems, VERITAS Software, The Dime Savings Bank, and Mellon Bank.

Warburg Pincus has 50 partners and 100 professionals in offices in New York, Menlo Park, London, Munich, Hong Kong, Singapore, Seoul, Tokyo, Mumbai and Sao Paulo. Warburg Pincus’ sole business is private equity investing. The firm has an active portfolio of 175 companies.


Smart MasterCard

Cigital, Inc., the Software Risk Management solution provider that helps companies protect themselves from the business risks of software failure, announced it will provide software risk management services to help MasterCard International manage its smart card technology. Cigital’s service to MasterCard includes authenticating the security of MasterCard’s smart card platforms and applications.

Software risk management is the practice of applying proven methodologies and technologies throughout the entire software development lifecycle to ensure that software behaves the way it is intended. Cigital will analyze MasterCard’s new and existing smart card technologies to ensure that data security and cardholder privacy are properly addressed. The company’s role also includes analysis and testing of the applications MasterCard may deploy on smart cards.

“Customer confidence is a priority for MasterCard. As such, we elected to proactively identify and mitigate our software business risks, rather than trying to eliminate a problem after it surfaces down the road,” states Terry Stanley, vice president chip card security, MasterCard International. “Ensuring that MasterCard’s smart cards are initially designed and architected for maximum cardholder protection is a large part of managing our smart card technology. We chose Cigital for their expertise in managing and mitigating potential security and reliability risks associated with software-driven programs.”

Cigital president and CEO, Jeffery Payne, adds, “As smart card technology gains wider use, and available smart card benefits and programs proliferate, consumer concern about the privacy and security of their payment transactions must be addressed. MasterCard is taking the right steps to alleviate consumer concern, bolster confidence in smart card technology, and maintain the security and convenience that MasterCard cardholders have come to expect.”

About Cigital

Headquartered in Northern Virginia, Cigital is a leading authority and industry visionary on Software Risk Management (SRM). Founded in 1992 on the simple, compelling premise that software must work, Cigital helps companies identify, analyze and reduce the risks of software failure — making their business operations and products more reliable, safe and secure. The Company delivers consulting services based on the Cigital Advantage(SM), a methodological approach to full lifecycle SRM that is grounded in research and proven in practice. The constant innovation of its world-renowned Cigital Labs keeps Cigital at the forefront of software development and deployment, helping to solve the problems that affect businesses today, and anticipate and avoid potential future trouble spots. With additional offices in Boston and Dallas, Cigital helps companies get their software under control so they can take charge of their business. Learn more about Cigital on the Web at .

About MasterCard

MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1.7 billion MasterCard(R), Cirrus(R) and Maestro(R) logos are present on credit, charge and debit cards in circulation today. An association comprised of more than 20,000 member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is the leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. MasterCard’s award-winning Priceless(R) advertising campaign is now seen in 81 countries and in more than 36 languages, giving the MasterCard brand reach and scope unrivaled by any competitor in the industry. With more than 21 million acceptance locations, no card is accepted in more places and by more merchants than the MasterCard Card. In 2000, gross dollar volume exceeded US$857 billion. MasterCard can be reached through its World Wide Web site at .