Concord EFS Responds to Securities Lawsuit.

Business Editors

MEMPHIS, Tenn.--(BUSINESS WIRE)--Sept. 9, 2002

Concord EFS, Inc. (Nasdaq:CEFT), a leading electronic commerce provider, today announced that it intends to vigorously defend itself against a purported class action lawsuit filed against the company on September 6, 2002. The lawsuit alleges violations of securities laws by the company and other named defendants. Concord stated that it believes the claims in the suit are without merit.

"These types of lawsuits are typical of what often happens to public companies that experience a significant decline in share price, especially in today's business climate," said Dan M. Palmer, Concord chairman and CEO. "This lawsuit appears to be the direct result of the price decline in Concord's shares following our release of earnings guidance for 2002 and 2003. The reasons for Concord's estimates were provided in detail with the press release and subsequent conference call on September 5, 2002. We believe the claims in the suit are without merit and we intend to vigorously defend against the litigation. Most importantly, we will remain focused on executing our business plan, and we will continue to conduct our business in the best interests of our shareholders as we have since we became a public company in 1984."

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 99.2 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.