Wagering via Cell Phones

Betting Inc.has signed a global license with ET&T (formerly HPOS) for the exclusive usage of the mobile wireless Pay Master for the application of wagering with same as cash ATM card and PIN or smart card.

“This means that someone driving a car in New York could place same as cash wager on the track from their car while stuck in traffic,” stated Tom Hughes, Chairman of Betting Inc. New York is one of the states that presently allows home off-track betting.

The wireless Pay Master is in effect a hand held phone with a QWERTY keypad, display screen and ATM card, credit card, smart card reader which will allow any bill pay or purchase as either an electronic draft capture credit card transaction or same as cash ATM card with PIN or smart card transaction.

The ET&T bank host processor provided by Smoky Mountain Technologies will be processing the wireless Pay Master transactions.

ET&T has also granted Betting Inc. the authority to sub license the manufacturing of the wireless Pay Master with potential partner countries such as the United Kingdom or Japan, where the home or remote wagering market is favorable.


Paymentech Signs 4 More

Paymentech, Inc. announced new customers for its commercial card programs.

The nation’s fifth largest issuer of corporate and purchasing cards will complete implementations for the new clients by early 1998. Paymentech’s commercial card affiliate issues MasterCard and Visa commercial cards.

Paymentech will provide a total purchasing card solution for Houston-based Browning-Ferris Industries (BFI), a leading international waste services company. The Visa branded purchasing card solution will offset the costly procedure of issuing purchase orders for high-volume, low-dollar expenditures. BFI will roll out the nationwide program in phases.

“Paymentech offered both experience and the ability to integrate a purchasing card program with BFI’s information system,” said Terry A. Taylor, BFI divisional vice president, “and a bankcard product clearly offers broader acceptance among the types of retailers from whom BFI’s 2,000 cardholders will be purchasing.”

According to James W. Baumgartner, president of Paymentech’s commercial card unit, prospects are searching for broader, more flexible product offerings from commercial card issuers. “Companies want more than just a purchasing or corporate card. They want improved processes,” said Baumgartner.

In addition, more companies are exploring one-card concepts such as PHH/Paymentech’s MasterCard Corporate Fleet Card. Youth Services International (YSI) recently selected the PHH/Paymentech corporate fleet card for employees in 20 locations across the country. The Baltimore, Maryland-based public corporation operates at-risk juvenile facilities throughout the United States.

“Youth Services required a financial tool to help manage business functions. A one-card program lets us combine fleet, corporate and purchasing capabilities as needed,” said P. John LaPorta, director of purchasing/support services. “With flexible control mechanisms and ready access to purchasing data, we can gain leverage with vendors and improve project management in the field.”

Companies have also expressed interest in products with added benefits, such as the British Airways MasterCard Corporate Card that features a cardholder rewards program. HSI, a major hospitality information services provider, is an early customer of the Paymentech-issued bankcard.

According to James B. Carlson, HSI’s president, the company wanted to set flexible spending controls and offer a benefit to traveling employees. “Our previous provider could not offer options for managing individual cardholder expenditures,” said Carlson. “Paymentech’s open approach to technology will give us the freedom to tailor a program to specific organizational needs.”

Paymentech is also implementing a corporate card program for Dallas-based CompuCom Systems Inc. “Companies require a provider with industry knowledge and experience to effectively manage the demands of a customized commercial card implementation,” said M. Lazane Smith, CompuCom’s chief financial officer. “A canned approach is just not a solution.”

Paymentech, Inc., founded in 1985, is the fifth largest issuer of commercial cards and the third largest merchant acquirer of bankcard transactions in the United States.


Citibank – AT&T

The word is out: Citibank has captured the AT&T Universal card portfolio. As of this morning neither Citibank or AT&T have officially confirmed the sale but an announcement is expected early this afternoon. The portfolio is expected to fetch a premium of about $2.5 billion or 18%, with an additional $1.0 billion for other assets, primarily for exclusive use of the AT&T brand. The companies will also enter into a 10-year cobranding agreement. There is also speculation Citibank has agreed to operate the AT&T Universal card as a separate unit, similar to its Diners Club unit. If and when finalized, the deal will solidify Citibank’s dominance in the marketplace raising Citibank’s marketshare of the VISA/MasterCard business from 11.1% to 14.5%. The move will also enable Citibank to catch up with the growth rates of industry leader MBNA. If consummated, Citibank’s annualized growth rate will soar from a paltry 7% to whopping 38%. At the end of the third quarter MBNA was growing 30% annually. Without the acquisition Citibank would lose its number one position, based on receivables, to MBNA by April 1998. However Citibank faces a number of issues with the acquisition including its status as a VISA and MasterCard board member, since $11.3 billion of the AT&T portfolio represent MasterCard accounts. Citi also faces the challenge of wringing profits out of AT&T Universal’s disproportionally high number of convenience or inactive cardholders, presumably through re-pricing or revocation of the no-annual-fee-for-life status of many Universal cardholders. For the industry, today’s deal could conceivably drive portfolio premiums higher for next year. It will also clearly define 1997 as the year of mergers/acquisitions as more than $50 billion or more than 12% of industry card loans will have changed hands.

THE TOP TEN SCOREBOARD (as of December 1, 1997)
1. Citibank* $47.7b $91.5b 25.0m 18.3m
2. MBNA* $43.9b $55.2b 24.1m 16.9m
3. Banc One $38.9b $36.3b 24.5m 15.7m
4. Discover $36.0b $52.4b 40.3m 23.8m
5. Chase* $28.3b $34.3b 18.1m 11.8m
6. First Chic $17.5b $41.6b 14.8m 8.4m
7. Household $16.4b $29.9b 15.0m 7.2m
8. AT&T Univ* $14.7b $24.1b 19.0m 11.2m
9. Cap One $13.3b $12.2b 10.8m 8.0m
10.Advanta* $10.3b $ 6.2b 6.5m 3.8m
b-billions m-millions; *-excludes pending acquisitions
Source: Dec issue of Bankcard Barometer & CardData Online


Fair, Isaac revised projections

Fair, Isaac and Company, Inc. announced Wednesday that, while it expects healthy revenue growth in the quarter ending December 31, 1997, compared with the same period a year ago, the company anticipates that its operating margin will be lower than in the December 1996 quarter. President and CEO Larry E. Rosenberger said he believes the percentage growth in revenues for the quarter, over the same period a year ago, will be in the “mid-twenties” but that the company’s operating expenses are growing even faster. As a result, the company expects that operating income and earnings per share for the current quarter will be approximately even with the same quarter a year ago.

Rosenberger noted, “A number of factors are putting pressure on our operating margin right now. Our internal forecast had called for even higher revenue growth early in the 1998 fiscal year, so we authorized hiring and other expenditures accordingly. However, the continuing wave of bank mergers has resulted in the cancellation of some orders and has delayed other projects. In addition, the internal systems staffs of many of our clients are preoccupied by ‘Year 2000’ issues and are thus unable to provide the assistance we need to complete — and sometimes to start — our work. Finally, we remain constrained by staffing shortages in certain areas.

“On the expense side, some units are still finding it necessary to use expensive contract labor to meet current demand from our clients while keeping the development of new products on schedule. While we have made some progress in recent months in recruiting additional permanent staff, it takes some time to get newly hired employees to the point where they are fully productive. We have also chosen to expend resources in pursuing new product and market development opportunities which we believe have great future potential — but which are not yet producing revenue.”

Mr. Rosenberger concluded by saying, “Fundamentally, the demand for Fair, Isaac’s products and services remains strong. The current margin squeeze is mostly a case of ‘growing pains,’ and we believe it will be temporary. Where we can cut costs without sacrificing long-term growth and profitability we will do so, but we are determined to manage the company for the long haul rather than just quarter-to-quarter results.”

Since 1956, Fair, Isaac has helped businesses maximize the value of data for strategic decision making. The company pioneered the commercial development of empirically derived predictive models for the credit industry and popularized their use in lending decisions. Today, Fair, Isaac and its subsidiaries provide data-driven decision control solutions to a variety of industries worldwide, including financial services, direct marketing, personal lines insurance, retail, health care, and telecommunications. Primary areas of focus include customer and operational data management and modeling, information analysis, strategy design, and software. Headquartered in San Rafael, California, Fair, Isaac employs over 1,200 people and has offices throughout the United States and Europe as well as in Canada, Mexico, South Africa, and Japan. For the fiscal year ended September 30, 1997, the Company reported net income of $20.7 million ($1.46 per share) on revenues of $199.0 million.

This press release contains certain forward-looking statements regarding events and trends that may affect the Company’s future results. Such statements are subject to risks and uncertainties that could cause the Company’s actual results to differ materially. Such factors include, but are not limited to, the Company’s ability to recruit and maintain key technical and managerial personnel, the maintenance of its existing relationships with key alliance partners, its ability to continue to develop new and enhanced products and services, competition, market demand and other factors described in the Company’s annual and quarterly reports to stockholders and its annual report on Form 10-K and other reports filed with the Securities and Exchange Commission.


ACE Cash Names CIO

ACE Cash Express, Inc. announced that Joe B. Edwards, 41, has been named vice president and chief information officer.

Prior to joining ACE, Edwards most recently served as vice president, portfolio management & trading systems, of Fidelity Investments. Edwards also spend three years as senior systems development manager of Foxmeyer and nine years with Deloitte and Touche Consulting, the last of which was as senior manager. Edwards received both his undergraduate degree in computer sciences and his MBA from the University of Texas at Austin.

In this position, Edwards will oversee all of the information technology, management information systems and Wide and Local Area Networks for ACE’s corporate headquarters and its 700 plus stores. He is expected to join the company by Jan. 5, 1998.

Jay B. Shipowitz, senior vice president and chief financial officer, stated, “Mr. Edwards brings a wealth of technical experience, project management and strategic skills that should further strengthen our management team. His expertise in a wide variety of application and systems development will allow him to have an immediate impact on the organization, further defining and supporting the long-term strategic direction and expansion of ACE.”

Shipowitz also noted that ACE has launched its web site, located at . The web site provides the investment community, franchisees and potential customers with comprehensive information on the company, including company locations, products and services, list of market makers, analyst coverages, as well as biographical information on ACE’s executive management team.

ACE Cash Express, Inc., headquartered in Irving, Texas, is a significant provider of retail financial services. It is the biggest owner and operator, and one of the largest franchisors, of check cashing stores in the United States. Founded in 1968, the company today has a total network of more than 700 stores, including over 640 company-owned stores and 79 franchised stores in 26 states and Washington, D.C. ACE offers a broad range of financial services, which includes check cashing as well as offering MoneyGram wire transfer services, money orders, small consumer loans, bill payment services and telecommunications services, including prepaid long distance cards and local phone service.


Optical Smart Cards Backlogged

Drexler Technology Corporation announced the receipt of a $6.4 million purchase order for LaserCard products for a United States government application.

This award more than doubles the Company’s order backlog for LaserCard products — to $10.2 million from $3.8 million.

The optical memory card order backlog is estimated to be delivered at a rate of approximately 200,000 cards per month from now through about January 1999.

The Company is successfully manufacturing its computer-based optical memory cards at this production rate in its Silicon Valley plant. On October 20, 1997, the Company reported shipments of 616,000 LaserCard optical memory cards for its fiscal second quarter ended September 30, 1997, which along with other LaserCard-related revenues, resulted in a net income of $460,000 on revenues of $2,902,000.

The purchase order was received under a federal subcontract awarded to Drexler’s subsidiary, LaserCard Systems Corporation, by a value-added reseller (VAR) company. The federal subcontract is subject to the usual rights reserved by the United States government under its procurement regulations.

Drexler’s patented optical memory card is a recordable, credit-card sized storage device that offers multiple security safeguards and functions off-line or with computer networks.

Drexler Technology Corporation and its wholly owned subsidiary, LaserCard Systems Corporation, are headquartered in Mountain View, where Drexler manufactures its 4-megabyte LaserCard(R) optical memory cards and “microchip-ready” Smart/Optical(TM) cards. LaserCard Systems develops optical card systems and related system software for consumer, commercial, and government markets.

Forward-Looking Statements: Certain statements made above relating to plans, objectives, and economic performance go beyond historical information and may provide an indication of future results. To that extent, they are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and each is subject to factors that could cause actual results to differ from those in the forward-looking statement. Such factors are described in the Company’s Report on Form 10-K and other documents filed by the Company from time to time with the Securities and Exchange Commission.


New online guidelines

Fourteen leading information industry companies, as part of the Individual Reference Services Group (IRSG), pledged Wednesday to adopt self-regulatory principles governing the dissemination and use of personal data. The IRSG developed the principles in conjunction with the Federal Trade Commission during its year-long examination of privacy concerns and the uses of personal information.

Individual reference services are commercial services which provide data that help identify, verify, or locate individuals. These services play an important role in facilitating law enforcement, fraud prevention and detection, and a range of business transactions and legal proceedings. After examining the types of services offered by IRSG members and reviewing the final draft of self-regulatory operating principles, the FTC has not recommended in its report to Congress any privacy legislation aimed at regulating the individual reference services industry. Additionally, the FTC report commends the IRSG for its self-regulatory efforts.

The principles impose significant restrictions on the access and distribution of non-public information, such as the non-financial identifying information in a credit report. For example, social security numbers obtained from non-public sources may not be displayed to the general public on the Internet by IRSG companies. IRSG members have also agreed to restrictions on the dissemination of social security numbers and dates of birth to commercial and professional subscribers. Furthermore, information from non-public sources about persons identifiable as minors will not be available to either the public or commercial and professional markets.

The IRSG released a draft of the group’s principles at the FTC’s June privacy workshop. Among the most salient additions adopted by the companies since the workshop are enforcement mechanisms including a set of auditing or outside assessment standards. Price Waterhouse was retained by the IRSG to develop the auditability criteria. Ron Plesser of Piper & Marbury L.L.P., who serves as the coordinator of the IRSG, commented on the auditability provisions, stating, “The Price Waterhouse auditability criteria are what make the initiative particularly effective and accountable to the public.” Part of the compliance audits will include a review of educational efforts the companies have agreed to that will identify the types of information contained in individual reference services.

Each IRSG member has pledged to be in compliance with the principles within twelve months. After the initial compliance period, companies will be subject to yearly audits by a qualified independent auditor or assurance organization. In addition, the principal suppliers of non-public information will enforce these provisions through contracts with vendors. All companies in the industry who obtain information from these suppliers and fail to comply with the principles risk losing access to the data.

Tim Davies, C.O.O., National Information Services Division, LEXIS-NEXIS, commented on the influence the group’s principles were likely to have: “The primary goal of the group was to put together a set of principles that would address the privacy concerns of individuals while preserving the right to use information for legitimate and beneficial purposes like fraud prevention, witness location, and child support collection,” said Davies. “Secondarily, we have recruited other companies from the industry into the IRSG, nearly doubling the size of the group, and we will continue this outreach.”

Since the FTC workshop in June, the IRSG has expanded its membership from nine to fourteen companies, representing the largest commercial entities in the industry and related organizations. The companies of the Individual Reference Services Group now include: Acxiom Corporation; CDB Infotek, a ChoicePoint Company; DCS Information Systems; Database Technologies, Inc.; Equifax Credit Information Services, Inc.; Experian; First Data Solutions Inc.; Information America, Inc.; IRSC, Inc.; LEXIS-NEXIS; Metromail Corporation; National Fraud Center; Online Professional Electronic Network (OPEN); and Trans Union Corporation. The Direct Marketing Association and the Information Industry Association serve as advisory members of the industry group.


NDC Twelfth 30% Quarter

National Data Corporation, announced today its twelfth straight quarter with operating income growth of 30 percent or greater. Operating income for the second quarter ended November 30 was $20.8 million — a 33 percent growth over the comparable quarter last year.

Revenue in the quarter grew to $120 million. EBITDA totaled $30.5 million. Net income grew to $11.5 million from $9.6 million, in spite of higher interest charges and tax rates than a year ago. Earnings per share were $.41 on a fully diluted basis — an increase from $.34 last year.

Operating margins expanded to 17.4 percent from 15.2 percent, and EBITDA to 25.4 percent of revenue.

For the six-month period, revenues were $240.1 million. Health Information Services grew by 20 percent (net of a divestiture in the second quarter). Integrated Payment Systems grew by 22 percent. Global Payment Systems growth rate was 12 percent.

EBITDA in the first half exceeded $60 million. Operating income was $40.5 million. Net income was $22.1 million. This resulted in fully diluted earnings per share of $.79 compared to $.64 last year — a 23 percent increase.

Commenting on the results, Robert A. Yellowlees, Chairman and Chief Executive Officer, said, “Year after year, our employees continue to produce excellent earnings growth for our shareholders. This has been accomplished while making parallel investments to reposition the company to take advantage of new opportunities in the market — new opportunities that will sustain our growth in quality earnings from a base of predictable recurring revenue streams.

There is a rapidly growing recognition of the uniqueness of our health information services business. It reflects the rich array of end-to-end services, depth of experience of our people and diversity of our revenue sources.

In a similar way, we have been proactive in expanding the range of value- added services that our employees bring to our customers in the payment systems market. We see great promise for continuing growth as electronic payment acceptance expands in the consumer and corporate environments.”

National Data Corporation is a leading provider of health information services and payment systems solutions that add value to its customers’ operations.

When used in this report, press releases and elsewhere by management or the Company from time to time, the words “believes,” “anticipates,” “expects” and similar expressions are intended to identify forward-looking statements concerning the Company’s operations, economic performance and financial condition, including in particular, the likelihood of the Company’s success in developing and expanding its business. These statements are based on a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company, and reflect future business decisions which are subject to change. A variety of factors could cause actual results to differ materially from those anticipated in the Company’s forward-looking statements, some of which include competition in the market for the Company’s services, continued expansion of the Company’s processing and payment systems markets, successfully completing and integrating acquisitions in existing and new markets and other risk factors that are discussed from time to time in the Company’s Securities and Exchange Commission (“SEC”) reports and other filings. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligations to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or thereof, as the case may be, or to reflect the occurrence of unanticipated events.

(In Thousands Except Per Share Data)

Second Quarter Ended
11/30/97 11/30/96
Health Information Services $ 48,209** $ 41,433
Integrated Payment Systems 38,742 31,732
Global Payment Systems 39,835 35,359
Intercompany Revenue (6,751) (5,949)
Total $120,035 $102,575

Cost of Service 57,356 49,092
Sales, General & Administrative Expense 41,836 37,858
Total 99,192 86,950

Operating Income 20,843 15,625

Interest and Other Income 455 910
Interest and Other Expense (2,170) (1,401)
Minority Interest (607) (186)
Total (2,322) (677)

Income Before Income Taxes 18,521 14,948
Provision for Income Taxes 7,038 5,381
Net Income $ 11,483 $ 9,567

Earnings per common and common
equivalent shares $ 0.41 $ 0.34

** net of divestiture

Six Months Ended
11/30/97 11/30/96
Health Information Services $ 95,709** $ 79,499
Integrated Payment Systems 77,572 63,660
Global Payment Systems 80,195 71,826
Intercompany Revenue (13,339) (11,246)
Total $240,137 $203,739

Cost of Service 116,326 98,168
Sales, General & Administrative Expense 83,335 76,012
Total 199,661 174,180

Operating Income 40,476 29,559

Interest and Other Income 940 1,229
Interest and Other Expense (4,484) (2,336)
Minority Interest (1,308) (684)
Total (4,852) (1,791)

Income Before Income Taxes 35,624 27,768
Provision for Income Taxes 13,537 9,996
Net Income $ 22,087 $17,772

Earnings per common and common
equivalent shares $ 0.79 $ 0.64

** net of divestiture

(In thousands)

11/30/97 5/31/97
Cash $ 22,231 $ 19,240
Trade accounts receivable 86,172 78,269
Inventory 2,082 2,260
Other current assets 14,240 8,855
Total current assets 124,725 108,624

Property, plant and equipment 51,109 49,907
Intangibles and goodwill 346,799 348,476
Other assets 14,189 14,676
Total assets $536,822 $521,683

Current liabilities $ 60,953 $ 67,345
Long term debt 151,654 149,750
Other long term liabilities 5,799 5,940
Total liabilities 218,406 223,035
Minority interest 19,468 21,178
Stockholders’ equity 298,948 277,470
Total liabilities and stockholders’
equity $536,822 $521,683


Shopping Stampede Underway

Retailers can expect sales to increase during the next week according to the International Mass Retail Association (IMRA), based on findings included in IMRA’s third weekly Holiday Shopping Poll, sponsored by Visa USA. According to the poll of 1,000 consumers nationwide, nearly three-quarters (70%) report that they have not yet purchased all their gifts for the holidays.

In IMRA’s earlier survey, released last November, about 50% of consumers said they planned to do the majority of their shopping by the first two weeks in December, but only 30% of consumers report that they are finished, according to IMRA’s latest poll. Lack of time may be a major factor, especially since many consumers are trying to fit in other holiday activities such as baking cookies (50%) and putting up lights (70%), according to the IMRA Week One poll.

Retailers can expect shopping crowds to be busy all week; half of all consumers (49%) reported that they are shopping during the week, rather than fighting crowds on the weekend. Also, many of these shoppers will be heading to music stores, since forty percent (40%) of consumers said they plan to buy at least one music CD this holiday season.

The survey also showed that one-third of consumers (33%) are more likely to make spontaneous purchases, if they are carrying a payment card such as a credit card, debit card, bank card or ATM card.

The third weekly IMRA “Holiday Shopping Study,” random telephone poll of 1,000 adult consumers was conducted over the weekend of December 12-14. For a complete copy of the poll, contact Robin Lanier at 703-841-2300 or visit IMRA’s Web site at .

The International Mass Retail Association represents the mass retail industry — consumers’ first choice for price, value and convenience. Its membership includes the fastest growing retailers in the world — discount department stores, home centers, category dominant specialty discounters, catalogue showrooms, dollar stores, warehouse clubs, deep discount drugstores, and off-price stores — and the manufacturers who supply them. IMRA retail members operate more than 77,000 American stores and employ millions of workers. One in every ten Americans works in the mass retail industry, and IMRA retail members represent over $411 billion in annual sales.


Quicken 98 Covers 29 Card Issuers

Intuit Inc.’s Quicken personal finance products claimed over 80% of retail market share units, according to PC Data. In the first full month since the Quicken 98 family of products became available on October 23, Quicken Deluxe 98 was the #1 best-selling personal productivity software.

“Quicken has been the #1 personal finance software program for every month since PC Data began collecting industry data in 1991,” said Ann Stephens, president of PC Data. With the introduction of Quicken 98, Intuit continues to lead the category, with no competitor even coming close.

According to PC Data’s November 1997 report, Quicken 98 outsold the #2 title in the personal finance category (Microsoft Money) by a margin of 4 to 1 as measured in units. With Quicken 98 retail unit share at 83%, Quicken 98 products generated 88% of sales revenue for the personal finance software category. PC Data is the leading market research firm for software and hardware point-of-sale data. Their research is based on analysis of reseller software sales by forty-two major retailers including CompUSA, Best Buy, Egghead, Office Depot, Babbages and Price Costco.

The Quicken 98 family — Quicken Basic 98, Quicken Deluxe 98, Quicken Home & Business 98, and Quicken Suite 98 — are the most popular personal finance software products available today. “Quicken is a critical part of our fall selling season,” said Marty Lobkowicz, vice president and general merchandise manager of Office Depot. “Customers demand the product, and we do everything we can to make it easy for them to find the version of Quicken 98 that best fits their needs.”

“Quicken is certainly among the hottest software products on our shelves,” said Scott Maentz, vice president of software product marketing at Tech Data, a leading full-line distributor of personal computer products. “We’re seeing strong demand from our resellers and retail dealer customers for both Quicken 98 and TurboTax, Intuit’s tax preparation products.”

Quicken 98 combines the benefits of the desktop and the Web, creating a powerful but easy-to-use solution that takes consumers beyond organizing and into the realms of making smarter investment decisions, finding great deals on insurance and mortgages and being prepared for emergencies. Additionally, Quicken 98 directly links to Intuit’s award-winning website, Quicken.com, to give customers access to objective financial information, including personal finance news and tools as well as the leading mutual fund and insurance sites on the World Wide Web.

With Quicken 98, customers can make online payments with any U.S. financial institution. Quicken 98 works with 53 of the nation’s leading financial institutions covering 47 million checking accounts and 29 major credit cards covering 80 million accounts to download statements into Quicken. In addition to the growing number of financial institutions who support statement download for checking and credit card accounts, Quicken Deluxe 98 for Windows today supports investment transaction download from four major brokerages — Charles Schwab, E*TRADE, Fidelity Investments(R), and Waterhouse Securities. Quicken Deluxe 98 supports investment transaction download from more investment firms than any other financial management software. By early 1998, eight other financial institutions — Accutrade(R), American Century Investments, Ameritrade(R), Discover Brokerage Direct, DLJdirect, PaineWebber Incorporated, Smith Barney, and T. Rowe Price — will offer online investment tracking as well.

Quicken 98 is available for Windows 3.1 as a 16-bit application and for Windows 95 as a 32-bit application. Typical retail pricing for Quicken Deluxe 98 is $59.95 minus a $20.00 rebate from Intuit for previous Quicken users. Quicken Basic 98 is $39.95 minus a $10.00 Intuit rebate for previous Quicken users. Quicken Deluxe 98 and Quicken Basic 98 are available in versions for Macintosh with the same prices and rebates. Quicken Home & Business typically retails for $89.95 minus a $20.00 Intuit rebate for previous Quicken users; Quicken Suite 98 retails for $89.95 minus a $20.00 Intuit rebate for previous Quicken users.

Source: PC Data, personal finance market units, all platforms, month ending November 30, 1997, with over 70 percent of retail customers covered.

About Intuit

Intuit Inc., a financial software and Web-based services company, develops and markets Quicken, the leading personal finance software; TurboTax(R), the best-selling tax preparation software; and QuickBooks(R), the most popular small business accounting software. Intuit’s Quicken.com Web site offers a complete set of personal financial news, information and tools, including the leading mutual fund and insurance sites. Intuit’s products and services enable individuals, small businesses, and financial professionals to better manage their financial lives and businesses.

This press release contains forward-looking statements about results or other events that have not yet occurred. This includes, but is not limited to, statements related to the expected launch and other details of the online investment tracking feature in Quicken. The actual results or events may differ materially from those anticipated. Such factors include, but are not limited to, potential technical problems in developing the feature and integrating it with a variety of brokerage firms’ systems, and Intuit’s ability to successfully negotiate agreements with brokerage firms. Intuit assumes no responsibility to update any forward-looking statements to reflect events occurring after the date of this press release. Information about other factors that could affect future results and events is included in Intuit’s fiscal 1997 Form 10-K filed with the Securities and Exchange Commission.

NOTE: Intuit, the Intuit logo, Quicken, QuickBooks and TurboTax, among others, are registered trademarks of Intuit Inc. in the United States and other countries. Quicken Financial Network, among others, is a trademark of Intuit Inc. in the United States and other countries. Other names or brands may be trademarks or registered trademarks of their respective holders and should be treated as such.


Rodeo Drive Goes Online

The Rodeo Drive Committee today announced Beverly Hills’ Rodeo Drive, one of the most famous and elegant shopping districts in the world, will soon be a part of the Information Superhighway. It has selected Delray Beach, Florida based WorldWide Webs, Inc. to design, develop and maintain the official web site.

“We are planning to provide a truly interactive experience,” said Ron Michaels, President of the Rodeo Drive Committee. “Not only for shopping, but also to get a taste of the history, ambiance, and mystique of Rodeo Drive.”

According to WorldWide Webs, Inc. President Vince Ceccola, the new site will feature cutting edge Virtual Reality technology that will allow visitors to stroll up and down Rodeo Drive via their computers. Starting in March of 1998, visitors will be able to “step into” each of the “virtual” store fronts, and shop at each location. Ceccola added, “We plan to offer a sophisticated and exciting adventure.”

Represented will be many of the high fashion boutiques and other emporiums that have made Rodeo Drive one of the most glamorous and famous shopping districts in the world, as well as some of the most elegant hotels in the area. Through the use of video and the latest web technology, visitors will be able to view on their computer screens actual images of each store they enter, including recorded messages from each store’s owner or manager.

Visitors can then shop at their leisure from participating merchant’s entire inventory, or from items especially selected for the web site. The web site will incorporate Visa International and Mastercard International’s Set Secure Electronic Transaction(a) technology, which offers the latest in real time commerce and credit card security.

Celebrating its 25th year, the Rodeo Drive Committee is comprised of the street’s landlords and merchants, which include many of the world’s foremost designer names. Its more than 80 members include Cartier, Chanel, Christian Dior, Gianni Versace, Giorgio Armani, Gucci, Louis Vuitton and Tiffany & Co. The Rodeo Drive Committee estimates that shoppers spend more than $500 million annually on Rodeo Drive.

WorldWide Webs, Inc., () was founded in 1995 and specializes in Internet Development and Electronic Commerce solutions. In addition to its Delray Beach, FL headquarters, the company has locations in Beverly Hills,CA; East Brunswick, NJ; and Philadelphia, PA.


Euronet Expands into Croatia

Euronet Services Inc. announced Tuesday that cash withdrawal and other transactions by cardholders over its ATM network in Hungary, Poland and Germany reached 726,051 in November. This figure compares with 647,675 transactions in October and represents a 12% increase. As previously reported, this figure includes transactions processed under the Company’s driving contract with Budapest Bank whereby Euronet operates ATMs and processes transactions on behalf of Budapest Bank.

Euronet also reported that it has 655 ATMs installed as of today, including 20 in Croatia. Euronet’s network in Croatia went “live” on December 11.

Since its last press release, the Company has signed card acceptance agreements with Cuprum Bank in Poland and Raiffeissenbank in Croatia. Euronet’s connection with Cuprum Bank went “live” on October 30. The contract with Raiffeissenbank includes the provision by Euronet of its new “Blue Diamond” card issuance services. The Blue Diamond product is a combined hardware and software solution for the issuance of debit cards by banks, using ARKSYS software and IBM hardware. Euronet has developed this product to increase the pace of card issuance, particularly by smaller banks, in the markets in which it operates.

Established in 1994, Euronet operates the only independent, non-bank owned ATM network in Central Europe. Through agreements and relationships with local banks, international card issuers and ATM networks such as American Express, VISA, Plus, MasterCard, Europay and Cirrus, Euronet’s ATMs are able to process ATM transactions for holders of credit and debit cards issued by or bearing logos of such banks and card issuing organizations. In addition, Euronet offers outsourced ATM management services to local banks that own proprietary ATMs.