First USA Paymentech Reports Earnings Increased 75%.

DALLAS--(BUSINESS WIRE)--April 16, 1996--First USA Paymentech, Inc. (NYSE:PTI), the nation's third largest payment processor, today reported net income increased 75 percent to $3.9 million, or $0.16 per share, for the third quarter ended March 31, 1996, compared with net income of $2.2 million, or $0.09 per share, for the same quarter a year ago. Net revenue increased 46 percent to $31.6 million compared with $21.6 million for the prior year period.

For the nine months ended March 31, 1996, net income increased 48 percent to $8.8 million, or $0.36 per share, compared with net income of $5.9 million, or $0.24 per share, for the first nine months of fiscal 1995. For the same period, net revenue increased 37 percent to $87.4 million, compared with $63.9 million for the nine months ended March 31, 1995.

During the March 1996 quarter, Paymentech processed approximately $7.9 billion in sales volume and approximately 148 million transactions, representing increases of 64 percent and 72 percent, respectively, compared with the same quarter last year.

Pamela H. Patsley, president and chief executive officer, said, "Our successful initial public offering and listing on the New York Stock Exchange are milestones for Paymentech. The majority of the net proceeds from the offering will be used to continue our product and technology development and to compete for attractive acquisitions. During the quarter, we continued to expand our internal sales efforts and further penetrated the growth markets of direct marketing, travel, entertainment, and retail. We are also beginning to make inroads into university and hospital payment processing."

First USA Paymentech is a processor of merchant credit card transactions and an issuer of commercial cards to businesses and other entities. Paymentech, founded in 1985, is the third largest processor of credit card transactions for merchants in the United States, processing approximately $24.6 billion in sales volume and approximately 446 million transactions during calendar year 1995. -0-

               FIRST USA PAYMENTECH, INC. AND SUBSIDIARIES
                          FINANCIAL HIGHLIGHTS
              (Dollars in thousands, except per share data)

               THREE MONTHS ENDED MARCH 31, 1996 AND 1995

                                             March 31,
                                    ---------------------------     %
                                        1996           1995       Change
                                    ------------   ------------   -------
  Net revenue                       $     31,607   $     21,622     46.2
  Operating income                  $      6,174   $      2,503    146.7
  Income before income taxes        $      6,362   $      2,915    118.3
  Net income                        $      3,888   $      2,219     75.2
  Net income per share              $       0.16   $       0.09     77.8
  Operating margin                          19.5%          11.6%     7.9
  Weighted average common and
    common equivalent shares          24,816,110     24,411,081      1.7
  Sales volume processed            $  7,893,966   $  4,816,573     63.9
  Items processed                    148,237,000     85,982,000     72.4
  Purchased merchant portfolios
    and goodwill, net               $     88,061   $     39,085    125.3
  Total assets                      $    283,516   $     79,810    255.2
  Stockholders' equity              $    218,494   $     46,026    374.7
  Closing price per share           $      35.25            N/A      N/A

               NINE MONTHS ENDED MARCH 31, 1996 AND 1995

                                             March 31,
                                    ---------------------------     %
                                        1996           1995       Change
                                    ------------   ------------   -------
  Net revenue                       $     87,368   $     63,902     36.7
  Operating income                  $     14,020   $      7,524     86.3
  Income before income taxes        $     14,748   $      8,408     75.4
  Net income                        $      8,822   $      5,950     48.3
  Net income per share              $       0.36   $       0.24     50.0
  Operating margin                          16.1%          11.8%     4.3
  Weighted average common and
    common equivalent shares          24,546,091     24,411,081      0.6
  Sales volume processed            $ 22,439,380   $ 14,814,994     51.5
  Items processed                    410,715,000    261,658,000     57.0
  Purchased merchant portfolios
    and goodwill, net               $     88,061   $     39,085    125.3
  Total assets                      $    283,516   $     79,810    255.2
  Stockholders' equity              $    218,494   $     46,026    374.7
  Closing price per share           $      35.25            N/A      N/A

             FIRST USA PAYMENTECH, INC. AND SUBSIDIARIES
                          FINANCIAL HIGHLIGHTS
              (Dollars in thousands, except per share data)

          THREE MONTHS ENDED MARCH 31, 1996 AND DECEMBER 31, 1995

                                     March 31,       Dec. 31,       %
                                        1996           1995       Change
                                     ------------   ------------   -------
  Net revenue                       $     31,607   $     31,936     (1.0)
  Operating income                  $      6,174   $      6,867    (10.1)
  Income before income taxes        $      6,362   $      7,129    (10.8)
  Net income                        $      3,888   $      4,245     (8.4)
  Net income per share              $       0.16   $       0.17     (5.9)
  Operating margin                          19.5%          21.5%    (2.0)
  Weighted average common and
    common equivalent shares          24,816,110     24,411,081      1.7
  Sales volume processed            $  7,893,966   $  8,503,860     (7.2)
  Items processed                    148,237,000    152,126,000     (2.6)
  Purchased merchant portfolios
    and goodwill, net               $     88,061   $     88,084
  Total assets                      $    283,516   $    169,584     67.2
  Stockholders' equity              $    218,494   $     80,308    172.1
  Closing price per share           $      35.25            N/A      N/A

CONTACT: First USA Paymentech Inc.

(Investor) Jean Krone Bono, CFA, 214/849-3750

(Media) David C. Webster, 214/849-3755