Fair Isaac Designates Minneapolis as its Corporate Headquarters; Move Follows Expansion of Executive Leadership Roles in Minnesota.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--May 10, 2004 Fair Isaac Corporation (NYSE NYSE See: New York Stock Exchange :FIC FIC First International Computer FIC Fogarty International Center (John E. Fogarty International Center for Advanced Study in the Health Sciences; National Institutes of Health) FIC Fellowship for Intentional Community ), the leading provider of analytics and decision technology, announced today that the company has designated its Minneapolis location as its corporate headquarters. The new designation reflects a growing concentration of key executive leadership roles in the firm's Minneapolis office. "We are a company on a growth mission, and we are proud to be increasing our presence and visibility in Minnesota," said Tom Grudnowski, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Fair Isaac. "Minnesota-based leaders have played increasingly central roles in guiding our growth, and as a result the location has evolved naturally into a key hub for our growing global operations. We are also very proud of Fair Isaac's origins and history in San Rafael, California San Rafael (IPA: /ˌsænrəˈfɛl/; originally IPA: [sɑn rɑfeˈɛl]), is the county seat of Marin County, California, United States. , and expect it will continue to be a critical scientific and business center as our analytic experts and business leaders there continue to deliver vital innovations and make essential contributions to our success." Fair Isaac opened a new corporate office in downtown Minneapolis in 2003, building upon a significant Twin Cities presence that began with the acquisition of database marketing company Dynamark Inc. in 1992. The Minneapolis location now includes the offices of the CEO and CFO See Chief Financial Officer. , as well as numerous other corporate and market-facing leadership positions. Business functions and staffing levels in Fair Isaac's San Rafael, San Diego and other offices are unaffected by today's announcement. Among its nearly 2,400 employees worldwide, Fair Isaac employs approximately 450 employees in Minnesota, 425 in San Rafael and 400 in San Diego. About Fair Isaac Fair Isaac Corporation (NYSE:FIC) is the preeminent provider of creative analytics that unlock value for people, businesses and industries. The company's predictive modeling, decision analysis, intelligence management, decision management systems and consulting services power billions of mission-critical customer decisions a year. Founded in 1956, Fair Isaac helps thousands of companies in more than 60 countries acquire customers more efficiently, increase customer value, reduce fraud and credit losses, lower operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. and enter new markets more profitably. Most leading banks and credit card issuers rely on Fair Isaac solutions, as do insurers, retailers, telecommunications providers, healthcare organizations and government agencies. Through the www.myFICO.com Web site, consumers use the company's FICO FICO See: Financing corporation (R) scores, the standard measure of credit risk, to manage their financial health. For more information, visit www.fairisaac.com. Forward-Looking Statements Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac or its business are forward-looking statements within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the company's ability to recruit and retain key technical and managerial personnel, integration and related risks associated with acquisition activity, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, competition, regulatory changes applicable to the use of consumer credit and other data, the possibility that the anticipated benefits of acquisitions, including expected synergies, will not be realized and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended September 30, 2003 and its Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2004. If any of these risks or uncertainties materializes, Fair Isaac's results could differ materially from Fair Isaac's expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements. Fair Isaac and FICO are trademarks or registered trademarks of Fair Isaac Corporation, in the United States and/or in other countries. Other product and company names herein may be trademarks of their respective owners. |
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