Visa International Selects Christopher Rodrigues as New President and Chief Executive Officer; UK Financial Services Executive Succeeds Malcolm Williamson.

Business Editors

FOSTER CITY, Calif.--(BUSINESS WIRE)--March 2, 2004

The Visa International Board of Directors has appointed Christopher J. Rodrigues to the post of President and Chief Executive Officer of Visa International. Rodrigues is currently the Group Chief Executive of Bradford & Bingley, a leading UK-based financial services organization. He will succeed Malcolm Williamson, who has retired as Visa International CEO after a five-year term.

"We are delighted that someone of Christopher's caliber is taking the helm at Visa," said William Boardman, chairman of the Visa International board, who is acting as interim CEO until Rodrigues assumes his new post on June 1. "He has a keen intelligence and knowledge of the financial services industry, as well as a proven track record in negotiating the challenges of today's business environment. He will do a terrific job of leading Visa into the future."

Rodrigues, 54, has been the Group Chief Executive of Bradford & Bingley since 1996. In December 2000, Rodrigues led Bradford & Bingley through its successful demutualisation, and the company is now listed on the FTSE 100. Bradford & Bingley has nearly 600 branches throughout the UK, and offers mortgage and insurance brokering as well as independent investment advice and other financial services.

"Visa has consistently been at the forefront of developments in the global payments system over the past 35 years," Rodrigues said. "It is an honour and a privilege to be chosen to lead the organisation into the 21st century."

Prior to joining Bradford & Bingley, Rodrigues was the Chief Executive Officer of Thomas Cook, the global travel services company. His earlier career was spent with McKinsey & Company in the UK, continental Europe, and North America, and in senior management positions at American Express. From 1998 to 2003, Rodrigues also served as a non-executive director of the Financial Services Authority, the UK's lead markets regulator. He is a graduate of Cambridge University where he received a BA with honors in Economics and Economic History in 1971. He also earned an MBA with distinction in 1976 from Harvard Business School.

Rodrigues succeeds Williamson, who has been CEO of Visa International since October 1998 and successfully managed the global payments organization as it nearly doubled in size. "We are very grateful to Malcolm for his excellent leadership over the past five years," said Boardman. "We wish him all the best as he returns to the UK, and thank him for leaving Visa a strong, focused, and vital organization."

About Visa

Visa is the world's leading payment brand generating US$2.7 trillion in annual card sales volume. Visa has unsurpassed acceptance in more than 150 countries. The Visa organization plays a pivotal role in developing innovative payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce -- the ability to conduct commerce anywhere, anytime, and any way. For more information, visit www.corporate.visa.com.