Concord EFS CEO, CFO Certify Financial Statements Under Oath; Sworn Statements Also Cover Concord's Second Quarter 10-Q, Filed Concurrently.

Business Editors

MEMPHIS, Tenn.--(BUSINESS WIRE)--Aug. 8, 2002

Concord EFS, Inc. (Nasdaq: CEFT) announced that it today filed the sworn statements of Dan M. Palmer, chairman and chief executive officer, and Edward T. Haslam, chief financial officer, covering Concord's historical financial results, as required by the Securities and Exchange Commission (SEC). In addition to the filings, Mr. Palmer stated, "Although it is our policy not to comment on rumors, we believe that it is appropriate in this instance to address the rumor that Concord is under investigation by the SEC. We have not been notified by the SEC that Concord is under investigation, nor have they indicated to us an interest in gathering information about Concord."

The certifications filed today attest to the information contained in Concord's 2001 Annual Report on Form 10-K and all subsequent periodic reports filed with the SEC on Form 10-Q (including Concord's Form 10-Q for the period ending June 30, 2002, which was also filed today), most recent Form 8-K, and all definitive proxy materials relating to Concord's 2002 annual stockholder meeting.

The SEC order requires the principal executive officer and the principal financial officer of 947 large public companies to file sworn statements regarding the accuracy of their companies' most recent periodic reports as filed with the SEC. The calendar year-end public companies are required to file these statements no later than August 14, 2002.

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.

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 99.2 to our Annual Report on Form 10-K filed on February 26, 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.