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TOTAL SYSTEM SERVICES, INC. AND PROSA SIGN AGREEMENT TO FORM JOINT VENTURE FOR CARD PROCESSING IN MEXICO

 COLUMBUS, Ga., Dec. 9 /PRNewswire/ -- Total System Services, Inc. (TSYS) (NYSE: TSS), Columbus, and Promocion y Operacion S.A. de C.V. ("PROSA"), Mexico City, announced today that they have completed their negotiations and have signed an agreement to establish a joint venture to provide credit card-related processing for PROSA, Mexico's largest card association processor.
 Negotiations for this joint venture began in 1992 and a Letter of Intent was signed in January of this year.
 "Total System Services de Mexico S.A. de C.V., as the company will be called, is expected to be fully operational by the end of the first quarter of 1995," said M. Troy Woods, senior vice president, Total System Services. "The new operation will be located in Mexico with card production and statement rendering for PROSA's more than 3 million VISA and MasterCard accounts being performed there," he added.
 Commenting on the announcement, TSYS President Philip W. Tomlinson said: "We are extremely pleased to have reached an agreement to form this joint venture with such a leader in the Latin American card industry. PROSA has 30 percent of the Mexican credit card market today and we feel that this formation offers both companies opportunities for growth and expansion. It also fits well in our strategic plan for growth internationally."
 TSYS is the second-largest credit card and private label transaction processing company in the world. The company is based in Columbus and provides credit card institutions with a comprehensive on-line system of data processing services marketed as THE TOTAL SYSTEM(sm). TSYS serves 114 credit card issuers in 34 states, Puerto Rico and Canada, representing over 32 million cardholders and 258,000 merchant accounts. TSYS also provides correspondence products, fulfillment services, direct marketing and promotional services, directly or through two subsidiaries, MAILTEK, Inc. - Atlanta, and Lincoln Marketing, Inc. - Moorestown, N.J., to financial institutions, airlines, health care organizations and other businesses, representing over 20 million customers. TSYS is an 80.7 percent-owned subsidiary of Synovus Financial Corp. (NYSE: SNV), a $5.4 billion multi-financial services company composed of TSYS, 31 banking affiliates in three states and a full service brokerage firm.
 -0- 12/9/93
 /CONTACT: M. Troy Woods, senior vice president of Total System Services, 706-649-2104/
 (TSS SNV)


CO: Total System Services, Inc.; Promocion y Operacion S.A. de C.V. ST: Georgia IN: FIN SU: JVN

BR-BN -- AT005 -- 2113 12/09/93 09:47 EST
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Publication:PR Newswire
Date:Dec 9, 1993
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