U.S. Bancorp has been selected by Lockheed Martin Corp. as their exclusive provider of VISA purchasing cards. The five-year agreement is expected to incur approximately $750 million in annual charges, resulting in nearly $4 billion over the term of the agreement. It is the largest commercial purchasing card program in the world. The program includes all 110 business units within Lockheed Martin and will create cost savings and synergies among 50 different accounting systems. U.S. Bancorp is the largest issuer of VISA corporate and purchasing cards in the world. Its client list includes 153 Fortune 500 companies, 248 of the Fortune 1000, several agencies of the Federal government and five state governments. U.S. Bancorp has also served as the company’s corporate T&E card provider since 1997. When the program is fully implemented, Lockheed estimates that it will eliminate approximately 700,000 accounts payable transactions annually. For current and historical data on U.S. Bancorp’s card portfolio visit CardData([www.carddata.com]).