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MASTERCARD PICKS NEW YORK

 NEW YORK, Feb. 2 /PRNewswire/ -- After a long and extensive study of relocation options, MasterCard announced today that it has decided to seek a prime location in Manhattan as the future site of its global headquarters. Active discussions have been initiated regarding several mid-town sites. The planned move-in date from the company's current location at 888 Seventh Ave. is year-end 1995, when the company's current lease expires.
 Alex W. "Pete" Hart, president and CEO, MasterCard international, made the announcement at a meeting of employees held today at the Sheraton New York Hotel. "Extensive research led to this decision, but two key factors stand out: One, MasterCard's desire for a world-class headquarters location suitable to a growing, global company and, two, our determination to keep employee attrition to an absolute minimum. MasterCard has a strong team of experienced, motivated employees, and given the tremendous competitive challenges we face, we don't want to lose any of them," he said.
 The Honorable David N. Dinkins, Mayor, City of New York, said: "I welcome the news that MasterCard International, one of the nation's fastest growing and dynamic financial service companies, has elected to remain headquartered in New York City. Mastercard International represents the perfect corporate citizen in the world's best corporate city. Any way you look at it, MasterCard is an important member of the New York City business family and a leader in the international finance community. Their decision is a shot in the arm for all of us -- a statement of confidence and commitment that will echo around the world -- a statement that says clearly that they believe that New York is the dynamic, global city of the future. A city to grow in, a city to stay in.
 "I am proud that they have decided to stay and grow with us. MasterCard International is a company both for the future and with a future, and their pledge to stay in New York City helps to secure our future, too," he added.
 MasterCard's headquarters have been located in New York since 1966 when it began business as Interbank Card Association. The company moved to its present location in 1978. MasterCard currently has 450 employees in its New York office. Over the past 12 years, the MasterCard workforce has grown from 120 to 1,300 worldwide.
 In the United States, MasterCard also has offices in Lake Success, N.Y.; St. Louis; Atlanta; Chicago; San Francisco; and Miami. Overseas locations include: Paris, Toronto, Singapore, Tokyo, Seoul, Hong Kong, New Delhi, Sydney, Taipei, and Beijing.
 In 1992, the MasterCard brand was the fastest-growing bankcard brand in the United States. There were 180.9 million MasterCard cards in circulation at the end of the third quarter worldwide, and MasterCard volume stood at $184.5 billion for the full year ended Sept. 30, 1992.
 -0- 2/2/93
 /CONTACT: Richard Woods of MasterCard International, 212-649-5450/


CO: MasterCard International ST: New York IN: FIN SU: RLE

GK-WB -- NY068 -- 1952 02/02/93 13:57 EST
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Date:Feb 2, 1993
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