Concord EFS Completes Acquisition of The Logix Companies.

Business Editors

MEMPHIS, Tenn.--(BUSINESS WIRE)--March 4, 2002

Concord EFS, Inc. (Nasdaq:CEFT), a leading electronic commerce provider, announced today that it has completed the acquisition of The Logix Companies, LLC, an electronic transaction processor. The acquisition of Logix is expected to have a neutral impact on Concord's earnings per share in 2002 and to be accretive to earnings per share in future years.

"The Logix transactions brings us new products, such as electronic check conversion with image capture, that we can offer immediately through our direct and independent sales channels, plus innovative new technology that we believe has good potential for future growth," said Edward A. Labry III, Concord president. "For example, the IDLogix product, which is a unique terminal-based service to verify identity, represents an important new risk management feature for our point of sale processing and check services that can help our customers reduce fraud and lower costs."

IDLogix, one of several product lines created by Logix, is a terminal-based application that reads information encoded on driver's licenses and other forms of government identification and displays on the terminal read-out information such as date of birth and physical characteristics. This service is especially useful for supermarkets and convenience stores that have age-related sales, such as alcohol and tobacco, but the service can also be used in conjunction with check payments to reduce check fraud. Other product lines include CheckLogix, an electronic check conversion service that captures and archives the check image, verifies the check via a negative file, and converts the check to an ACH transaction, and EFTLogix, ATM processing for approximately 10,000 ATMs with features specifically designed for retail ATM deployers.

Tony Sdao, president of Logix, will be general manager of the wholly owned subsidiary, The Logix Company, which will continue to be headquartered in Longmont, Colorado.

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, 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 on its corporate web site 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 99.2 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.