Cobra Tecnologia Selects Fair Isaac's Fraud Analytics to Secure Brazil's Largest Banking Transaction Network.

MINNEAPOLIS -- Banco do Brasil IT Arm Will Utilize Falcon Fraud Manager to Help Financial Institutions Clamp Down on Debit Card Fraud

Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision technology, today announced a new, multi-year agreement with Cobra Tecnologia S.A., information technology services subsidiary of Latin America's largest financial institution, Banco do Brasil. Cobra Tecnologia will integrate Fair Isaac's Falcon(TM) Fraud Manager into one of the world's largest electronic banking networks.

Cobra Tecnologia will use Fair Isaac's industry-leading payment card fraud detection system to monitor debit card transactions and more effectively protect its member banks and their cardholders from fraudulent activity. Fair Isaac's Falcon analyzes payment card transactions in search of the most subtle signs of fraud and enables financial institutions to take immediate measures to stop fraud and cut losses. The system provides effective fraud protection for more than 450 million active payment card accounts across six continents, saving card issuers millions of dollars every day.

"As consumer reliance on debit cards continues to grow rapidly across Brazil and Latin America, we are committed to providing our network of banks with the most advanced fraud detection services available," said Graciano Santos Neto, CEO at Cobra Tecnologia. "Cobra offers one of the largest networks in the world for bank transactions, and we believe that the addition of Fair Isaac's unsurpassed fraud detection capabilities will deliver an enhanced level of service and security that will protect our network and attract other financial institutions to the unique advantages we can now provide."

Brazil, as a major payment card market in Latin America, has one of the largest numbers of self-service terminals in the world. However, Brazilian banks have historically shared very little of their back-end infrastructure. Cobra Tecnologia's network currently connects more than 9,000 terminals to state-owned banks, including Banco do Brasil, and the company plans to significantly expand its network to include other government-owned and private banks throughout the country. Through its partnership with Fair Isaac, Cobra Tecnologia stands to gain a competitive advantage by offering unrivaled fraud protection to the sharing banks.

"This agreement underscores the benefits that Fair Isaac's advanced fraud management capabilities provide to leading financial institutions in Latin America and around the world," said Chad Becker, vice president of Account Management, Fraud and Scoring Solutions, at Fair Isaac. "With Falcon, Cobra will be able to offer access to highly effective fraud prevention technology that will enable its participating banks to streamline their resources, achieve dramatic cost savings and maintain their focus on growing their portfolios and serving their customers."

"While this integrated offering will significantly benefit lenders in Brazil, our agreement with Cobra also has strong potential internationally," said Robert Duque-Ribeiro, vice president of International Sales at Fair Isaac. "As Cobra expands its activities outside of Brazil, Fair Isaac will be alongside to share our market-leading analytics and expertise. We expect this partnership to lead to significant growth opportunities in other markets and geographies."

Cobra Tecnologia recently established a partnership with USA-based S2 Systems to develop in Brazil one of the largest e-banking networks in the world. In its agreement with S2 Systems, Cobra Tecnologia has adopted S2's OpeN/2(R) transaction management and payment system as its standard operation management platform. Known as the "Cobra Switch Project," the new network will be capable of handling initially 100 million transactions per month and will be the first in Brazil to be present in more than 3,500 cities. Fair Isaac's Falcon Fraud Manager will add significant value to the shared network by offering advanced fraud protection to participating financial institutions.

Falcon leverages a combination of sophisticated neural network models and patented profiling technology to identify out-of-pattern cardholder spending behavior and detect fraudulent activity; an advanced rules management system that allows clients to develop fraud management rules representing industry best practices and their unique business strategy, workflow processes and requirements; and a case management system that improves efficiency, automates and streamlines case handling and maintains a case audit trail.

It currently protects 85 percent of credit card transactions in the U.S. and 65 percent of credit card transactions worldwide. 20 of the top 25 financial institutions worldwide use Fair Isaac's fraud detection solutions.

About Cobra Tecnologia

Cobra Tecnologia is an IT company controlled by Banco do Brasil and the most traditional Brazilian company in this market, celebrating its 30th anniversary next July. Its latest financial statement indicates a revenue growth from R$ 411 million in 2002, to R$ 697 million in 2003. For the fiscal year 2004, the company anticipates revenue close to R$ 1.4 billion. According to Graciano Santos Neto, this forecast of more than 100 percent growth for this year has almost been achieved, as the company's contracts for the first quarter are already close to R$ 700 million.

As one of the major IT companies in Brazil, Cobra Tecnologia also holds one of the most comprehensive portfolios of products and services, as well as integrated software solutions, outsourcing services, network management and hardware technical support. Cobra Tecnologia has one of the largest printing centers for technical documents in Brazil, and provides all kinds of support services for banks, such as digitalization of documents, microfilming, hosting and contact center units. In addition, the company has initiatives in free software, which is one of the policies of the Brazilian government program of IT.

About Fair Isaac

Fair Isaac Corporation (NYSE:FIC) is the preeminent provider of creative analytics that unlock value for people, businesses and industries. The company's predictive modeling, decision analysis, intelligence management, decision management systems and consulting services powers billions of mission-critical customer decisions a year. Founded in 1956, Fair Isaac helps thousands of companies in over 60 countries acquire customers more efficiently, increase customer value, reduce fraud and credit losses, lower operating expenses and enter new markets more profitably. Most leading banks and credit card issuers rely on Fair Isaac solutions, as do insurers, retailers, telecommunications providers, healthcare organizations, and government agencies. Through the www.myfico.com Web site, consumers use the company's FICO(R) scores, the standard measure of credit risk, to manage their financial health. For more information, visit www.fairisaac.com.

Statement Concerning Forward-Looking Information

Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac, including statements regarding its Falcon Fraud Manager product offering and the benefits to be derived from this offering, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including any unforeseen technical difficulties related to the implementation, use and functionality of the offering, the risks that customers will not perceive material benefits from the offering, failure of the product to deliver the expected results, the possibility of errors or defects in the offering, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2003, and quarterly report on Form 10-Q for the period ended March 31, 2004. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac's results could differ materially from Fair Isaac's expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements.

Fair Isaac, Falcon and FICO are trademarks or registered trademarks of Fair Isaac Corporation, in the United States and/or in other countries. Other product and company names herein may be the trademarks of their respective owners.