Bridgeview Bank & Trust Selects Concord EFS For Merchant Processing; Relationship Represents Concord's Entry Into Principal Bank Processing Market.

MEMPHIS, Tenn.--(BUSINESS WIRE)--July 29, 1999--

Bridgeview Bank & Trust Company has selected Concord EFS, Inc. (NASDAQ:CEFT) to provide processing services for their rapidly expanding merchant acquirer business beginning early next year. The exclusive multi-year processing agreement calls for Concord to provide accounting, settlement and reporting services for bank card acquirers in the U.S. based on numbe," said Tom Haleas, EVP, Bridgeview Bank & Trust. "We need top-notch processing, but we also want flexibility, and we believe Concord will give us both. We're looking forward to improving and expanding our program with Concord's help."

The agreement represents an expansion of Concord's traditional approach to marketing merchant processing services. Historically, Concord has marketed back-end processing services directly to merchants, or via an agent bank program offered through its own merchant bank, EFS National Bank. The agreement with Bridgeview signals a new focus on providing processing services to large principal merchant banks as well as smaller agent banks.

"Principal bank processing is a natural market for our merchant processing services," said Edward A. Labry, president, Concord EFS. "We process for some of the largest retailers in the U.S., but our merchant bank processing has historically been focused on the smaller end of the market. We have the product, the scale, and the expertise to provide a new alternative for large banks seeking to outsource their merchant processing. We're proud that a major player like Bridgeview Bank & Trust has shown confidence in our product and our people."

About Concord:

Concord is a vertically integrated electronic transaction processor, providing transaction authorization, data capture, settlement and funds transfer services to selected markets. Concord's primary activities include providing credit, debit, check authorization and electronic benefits transfer (EBT) processing services to supermarket, petroleum, convenience store and other retailers; and providing gateway processing, ATM driving and MAC(R) network access to the financial services industry. Concord also provides electronic payment and payroll services to trucking companies, truck stops and other segments of the market.

About Bridgeview Bank & Trust:

Bridgeview Bank & Trust is a seven branch bank in the Chicagoland area with assets exceeding $350,000,000. Bridgeview B&T was founded in 1971 and entered the merchant card processing business in 1993. Bridgeview B&T services the credit card processing needs of more than 14,000 merchants nationwide. In a typical month, Bridgeview B&T processes more than $35,000,000 in credit card sales. Bridgeview B&T is a long-standing member of the Electronic Transactions Association (ETA), the largest organization representing the transaction processing industry.

This release may contain or incorporate by reference statements which may constitute "forward-looking" information, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Any such statements are not guarantees for future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future results over time. See the cautionary statements included as Exhibit 99 to our Form 10-Q for the quarter ended March 31, 1999 for a more detailed discussion of certain of the factors that could cause actual results to differ materially from those included in the forward-looking statements.