First Data to Acquire Korea Mobile Payment Services; Acquisition of One of Korea's Leading VAN Service Providers Builds a Foundation for First Data's Expansion in Asia.

SEOUL, South Korea -- First Data Corp. (NYSE:FDC), a global leader in electronic commerce and payment services, today announced that it has signed an agreement to acquire approximately 80% interest in Korea Mobile Payment Services (KMPS), a leading provider of Value-Added Network (VAN) services. The acquisition is expected to complete by the end of 2005.

Under this agreement, First Data will acquire the majority shareholding in KMPS and lead the operations in the Korean market along with the KMPS management team, offering the full portfolio of First Data's commerce and payment services to customers across the country.

A landmark move for First Data in the Korean payment service market, this strategic acquisition is another step in expanding First Data's presence in the fast-growing Asian market. First Data sees this acquisition as further building its presence in other North Asian countries and the wider Asia Pacific region, and comes on the heels of a recently announced long-term managed services agreement with DBS in Singapore. The transaction also complements First Data's existing data center operations in Shanghai.

Mr. Nigel Lee, President of China & North Asia of First Data International, said: "South Korea is a fast-growing credit card market with huge potential considering it is one of the top five countries in terms of transaction volume in the world with almost 100% merchant acceptance of payment cards. KMPS' well-established merchant portfolio and transparent management philosophy are excellent complements to our current Asia business."

Pam Patsley, president, First Data International, said: "We are excited about our expansion in Asia. It demonstrates our long-term commitment to Korea and the region and complements our existing data center and processing operations in Shanghai. With KMPS, we will provide Korean merchants and financial institutions with value-added, world-class commerce and payment services."

Established in 2000, KMPS is a leader in Korea's VAN service market, providing financial payment services including VAN services and terminal interface services to about 250,000 local merchants with focus on small and medium-size customers.

"We are glad that First Data has selected KMPS as its local partner for entering the South Korean market. By combining KMPS' extensive customer network in the domestic VAN market with First Data's global expertise in the electronic commerce and payment fields, the company will provide a diverse range of service and product offerings to financial institutions that bring customers significant value and better operational efficiency," said Mr. Douglas Guen, CEO of KMPS.

About First Data

First Data Corp. (NYSE:FDC) is a leading provider of electronic commerce and payment solutions for businesses and consumers worldwide. Serving 4.1 million merchant locations, 1,500 card issuers and millions of consumers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes credit, debit, private-label, smart and stored-value card issuing and merchant transaction processing services; money transfer services; money orders; fraud protection and authentication solutions; check guarantee and verification services through TeleCheck; as well as Internet commerce and mobile solutions. Western Union and its subsidiary, Orlandi Valuta, together make up one of the world's largest money transfer networks with approximately 242,000 Agent locations in more than 200 countries and territories. The company's STAR Network offers PIN-secured debit acceptance at 1.7 million ATM and retail locations. For more information, visit www.firstdata.com.

About Korean Mobile Payment Services (KMPS)

Korea Mobile Payment Services (KMPS) is a leading provider of credit card and payment services. Established in July 2000, KMPS offers a variety of payment services including VAN (Value-Added Network) payment services, Draft Data Capture, mileage services, etc. KMPS provides its payment services to KORAIL, Pizza Hut Korea, T.G.I.F, E-land, SK Telecom, etc. KMPS is a non-listed company with 22 sales representative offices, serving 250,000 merchants nationwide. For further information, please visit http://www.kmps.co.kr.

About INICIS

INICIS is a leading electronic payment service provider in Korea. INICIS was established in 1998 by Mr. Douglas Guen when electronic payment was still a new concept in the market. It successfully introduced the electronic payment system to the market and was listed on the KOSDAQ in 2002. INICIS' annual transaction volume currently averages 1.2 trillion won and it has secured over 10,000 merchants locally, solidifying its position as the market leader. Major clients are Yahoo/Overture Korea, Microsoft, SK Communications, Sony Korea, NC Soft, etc. INICIS' business encompasses electronic payment services, Internet and e-commerce, software operation, etc. Its affiliates are Initech and KVP, security solution and service providers.

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