Communicate Confidence about Y2K Preparations, EFT Association tells Industry.

HERNDON, Va.--(BUSINESS WIRE)--Nov. 25, 1998--Directors of the Electronic Funds Transfer Association will meet Dec. 1 in Las Vegas to discuss conveying confidence over the financial industry's preparedness for the Year 2000 computer problem.

"The public needs to know that the financial industry has worked closely with federal regulators to avoid complications caused by the so-called Y2K problem," said H. Kurt Helwig, EFTA executive director in making today's announcement.

The Y2K problem is caused by programming computers and software, until recently, with two digits instead of four to represent dates. When the year changes over to 2000 this could cause computers to become confused and stop functioning properly.

Meeting with the EFTA Board of Directors will be communications analysts Matthew Harrington, president of Edelman Public Relations Worldwide's Western Region, and Marc Osborne communications director of DMR Consulting Group.

"With the questions raised by Y2K, the public needs to know that the financial services industry continues to receive high marks when it comes to preparing for the Year 2000," said Helwig.

"The issue is how to get that message out to the public," added Helwig, who delivered the same message at a recent press conference presented by the nation's major financial industry trade associations.

The Electronic Funds Transfer Association has commissioned a high-level task force, composed of senior executives from banks, ATM networks, information processors, and other industry segments, to help instill consumer confidence in the industry's ability to handle the problem, according to Helwig.

"Our industry has spent billions of dollars to bring systems up to Y2K compliance, and we need to let the public know that, said Helwig."

About the Electronic Funds Transfer Association

The Electronic FundsTransfer Association is the nation's leading inter-industry trade association dedicated to the advancement of electronic payments systems and commerce.

Now in its third decade, its members include bankcard associations Visa and MasterCard, Compaq Computers, Electronic Payment Services, Inc., the PULSE EFT Association, and virtually all other shared ATM systems in the U.S. The Association may be reached at its web site, www.efta.org.