Concord EFS Announces Key Executives to Lead Business Segments.

Business Editors

MEMPHIS, Tenn.--(BUSINESS WIRE)--Dec. 2, 2002

Concord EFS, Inc. (NYSE:CE), a leading electronic commerce provider, today announced the appointment of two key officers to lead the Network Services and Payment Services segments.

Bond R. Isaacson (44) was named president, financial services, with responsibility for all sales, client relations and product development for the financial services industry segment. Isaacson, formerly payments executive at Bank of America Corporation, joined Concord as executive vice president in September 2002. Ronald V. Congemi, president, Star Systems(R), will continue to have responsibility for the STAR(SM) network and will work closely with Isaacson in his new capacity.

Christopher S. Reckert (39), was named president, payment services, with responsibility for sales, account management, and product development for the retail industry. Previously, Reckert served as senior vice president and chief marketing officer at Concord. Reckert joined Concord in 1995, and has held various sales and marketing positions in the industry since 1987.

Additionally, the company announced a future planning role for Dan M. Palmer (59), chairman and outgoing chief executive officer. Palmer will assume the role of chief strategic & financial planning officer in May 2003 when Edward A. Labry III, president, succeeds Palmer as CEO. As previously announced, Palmer will continue as a member of the executive management group following the transition of the CEO responsibilities to Labry.

Concord is a leading, vertically integrated electronic transaction processor, providing transaction authorization, data capture, settlement and funds transfer services to financial institutions, supermarkets, petroleum retailers, convenience stores, restaurants, and other independent retailers. Concord's primary activities include Network Services, providing ATM driving, PIN-secured and signature debit card processing, deposit risk management, and STAR(SM) network access to the financial services industry; and Payment Services, providing credit, debit, check authorization, and electronic benefits transfer processing services to selected retail segments. Concord news releases, links to SEC filings, and other information are available at www.concordefs.com.

This release may contain or incorporate by reference forward-looking statements made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such statements are not guarantees of future performance and involve risks, uncertainties, and other factors which may cause our actual performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by those statements. Concord undertakes no obligation to publicly update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, or changes to future results over time. See the cautionary statements included as Exhibit 99.4 to our Quarterly Report on Form 10-Q filed on November 13, 2002 for a more detailed discussion of certain of the factors that could cause our actual results to differ materially from those included in the forward-looking statements.