Associates First Capital Corporation Lands Performance Excellence Award.

Business Editors

DALLAS--(BUSINESS WIRE)--May 25, 2000

The U.S. Bankcard Operations of Associates First Capital Corporation (NYSE:AFS) announced that it has received the Quality Texas Foundation's 2000 Texas Award for Performance Excellence.

This unit was recognized for superior customer and employee satisfaction and retention throughout the operation.

"This is a tribute to our Visa and MasterCard team, especially those who manage the more than 3 million customer service calls per month," said Joseph N. Scarpinato, senior executive vice president of Credit Card Operations. "The Texas Award for Performance Excellence is a validation of the processes within U.S. Bankcard Operations that help us better serve our customers while enhancing business results. This award demonstrates our commitment to quality as it relates to customers and employees."

The award, patterned after the Malcolm Baldridge National Quality Award criteria and process, annually recognizes Texas organizations that exhibit outstanding management and quality principles. It is given to organizations that are role models for quality, customer satisfaction and performance excellence.

This award marks a year in which The Associates was named one of Fortune's Most Admired Companies and ranked on Forbes Magazine's list of the Super 100 companies in the U.S. based on sales, profit, assets and market value.

U.S. Bankcard Operations, a unit of Associates First Capital Corporation, employs more than 1,600 people and offers Visa and MasterCard credit cards to consumers nationwide through Associates National Bank (Delaware). U.S. Bankcard serves approximately 4.7 million customers. The Associates also provides credit card services to an additional 15.9 million customers in its oil and private label retail credit card programs. In addition to marketing credit cards under The Associates brand, the company has partnerships with such companies as Washington Mutual, KeyBank and GTE.

The other 2000 Texas Award for Performance Excellence winners were the U.S. Army's III Corps and Ft. Hood facility and the Houston Region of Kelly Services, Inc. Past winners have included Dell Computer Corporation (1998), Compaq Computer Corporation (1997), John Deere Company -- Dallas (1997) and Alcatel Network Systems (1995).

An awards ceremony for the 2000 recipients will be held on June 22, 2000, in Richardson, Texas. In addition to the awards presentation, the new recipients will participate in a panel discussion of their experiences and best business practices.

The Quality Texas Foundation, a non-profit Texas corporation, administers the Texas Award for Performance Excellence. The foundation office in Austin coordinates more than 300 volunteers from all areas of industry, government, education and healthcare who work together to assess and promote quality and performance excellence throughout the state.

Associates First Capital Corporation, established in 1918, is a leading diversified finance company providing consumer and commercial finance, leasing, insurance and related services worldwide. The Associates, headquartered in Dallas, has operations in the United States and 13 international markets. For more information, visit The Associates Web site at www.theassociates.com.

This news release may contain certain forward-looking statements. The factors which may cause future results to differ materially from expectations are discussed in the Form 10-K for the year ended Dec. 31, 1999, filed with the Securities and Exchange Commission.