Concord EFS, Inc. reports third quarter earnings per share up 50%.

MEMPHIS, Tenn.--(BUSINESS WIRE)--Oct. 21, 1996--Concord EFS, Inc. (NASDAQ/NMS:CEFT) and subsidiaries (the Company) reported third quarter earnings per share of $0.12, up 50% from the same period of the prior year.

Other third quarter results include revenues of $44,051,002, up 30%; and net income of $7,148,529, up 48%.

For the nine months ended September 30, 1996, the Company reported earnings per share of $0.31, up 41%, revenues of $118,803,414, up 32%; and net income of $18,078,965, up 46%.

Additionally, on October 17, 1996, the Company filed an amendment to the Form S-3 registration statement originally filed with the Securities and Exchange Commission on October 2, 1996, covering a proposed public offering. The amendment was filed to increase the number of common shares being offered from 2,000,000 to 3,000,000. The option available to underwriters for additional shares for over-allotments was increased from 300,000 to 450,000 common shares. -0-

                           Concord EFS, Inc.
                          Financial Highlights
                          Digested Performance

                                                   Nine        Nine
                      Quarter       Quarter       Months      Months
                       Ended         Ended        Ended       Ended
                     09/30/96      09/30/95     09/30/96     09/30/95
Revenue            $ 44,051,002  $ 33,945,296 $118,803,414 $ 89,770,315
Operating Income     10,157,783     6,956,143   25,914,483   17,695,055
Net Income            7,148,529     4,843,589   18,078,965   12,380,540
Earnings Per Share       $ 0.12        $ 0.08       $ 0.31       $ 0.22

CONTACT: Concord EFS, Inc.

Edward A. Labry, III, 901/371-8000