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FIRST DATA REPORTS FIRST QUARTER NET INCOME OF $30 MILLION

 FIRST DATA REPORTS FIRST QUARTER NET INCOME OF $30 MILLION
 NEW YORK, April 22 /PRNewswire/ -- First Data Corporation(SM) (FDC) today reported consolidated first quarter net income of $30 million, or $.29 per share, compared with $25 million, or $.24 per share, in 1991.
 FDC's net income growth came primarily from growth in base businesses, and to a lesser extent, the inclusion of net income from FDR Limited (FDRL), formerly known as Signet Limited, a U.K. bankcard processor acquired in July 1991. The growth in base businesses consisted of improved operating margins at First Data Resources (FDR) and the company's mutual fund servicing business, and increased domestic sales of ancillary services at FDR. Also contributing to this growth were increased transaction volumes at the payment instruments business and the telemarketing business.
 FDC revenues increased 29 percent to $282 million, vs. $218 million in the 1991 quarter. This increase is due primarily to the inclusion of revenues from FDRL and, to a lesser extent, continued growth in base businesses and revenues from FDC's Integrated Systems Technologies business which started in the third quarter of 1991.
 On April 9, FDC began trading on the New York Stock Exchange, following the initial public offering. American Express Company (NYSE: AXP) retains a 54 percent interest.
 First Data Corporation is a provider of high-quality, high-volume information processing and related services to the credit card, consumer funds transfer, telemarketing/teleservices, mutual fund, healthcare and cable television industries.
 FIRST DATA CORPORATION
 Statement of Income
 (Unaudited; millions, except percentages and
 per-share amounts where indicated)
 Three months ended March 31 1992 1991 Pct.
 Revenue $282.2 $218.5 29.2
 Expenses
 Human resources 122.9 98.2 25.1
 Equipment, supplies and
 facilities 44.5 32.9 35.3
 Deprec. and amort. 23.4 18.2 28.6
 Other operating expenses
 (includes interest expense) -- -- 49.8
 Total expenses -- -- 31.2
 Pretax income 49.9 41.5 20.3
 Income tax provision -- -- 23.6
 Net income -- -- 18.0
 Net income per common share -- 4 20.8
 Avg. common shares outstanding -- --
 Selected Statistical Information
 (Millions, except percentages where indicated)
 Three months ended March 31 1992 1991 Pct.
 Credit card accounts on file(A) 53.4 43.8 22.0
 Credit card transactions
 processed(A) 478.4 278.1 72.0
 Payment instruments transactions
 processed(B) 48.3 41.9 15.2
 Cable subscribers 13.8 13.9 (1.0)
 Mutual fund shareholder accounts 9.0 8.5 5.4
 Inbound calls received 10.7 9.9 7.6
 Return on avg. stockholders'
 equity (pct.) 22.75 22.20
 (A) -- Substantially all of the increase in the 1992 first quarter was attributable to the inclusion of amounts from FDRL, formerly known as Signet Limited, which was acquired in July 1991.
 (B) -- Included in the first quarter amount are transactions processed related to utility bill payment product introduced in the first quarter of 1992.
 -0- 4/22/92
 /CONTACT: Gary P. Tobin, 212-640-5090, or David Walker, 212-640-4451, both for First Data/
 (AXP) CO: First Data Corporation; American Express Company ST: New York IN: FIN SU: ERN


CK -- NY032 -- 1160 04/22/92 10:28 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
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