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TOTAL SYSTEM SERVICES AND PROSA SIGN LETTER OF AGREEMENT TO FORM JOINT VENTURE FOR CARD PROCESSING IN MEXICO

 COLUMBUS, Ga., Jan. 13 /PRNewswire/ -- Total System Services, Inc. (TSYS) (NYSE: TSS), Columbus, Ga., and Promocion y Operacion S.A. de C.V. ("PROSA"), Mexico City, announced that they have executed a letter of agreement to exclusively negotiate the establishment of a joint venture regarding bank card processing.
 This joint venture would provide credit card related processing for PROSA's 13 member banks and to other customers in Mexico, Central and South America. PROSA is the largest card association processor in Mexico, processing 3.65 million Visa and MasterCard accounts, representing a 30 percent share of the Mexican credit card market.
 Commenting on the announcement, TSYS President Philip W. Tomlinson said: "This proposed joint venture with PROSA represents an exciting opportunity for both organizations. PROSA enjoys an excellent reputation and serves some of the largest financial institutions in Mexico and provides TSYS a gateway to Central and South America. Mexico and this entire region represent tremendous growth opportunities for TSYS in the future." Rick Ussery, chairman of TSYS, added: "The potential joint venture with PROSA is another step along the way for the realization of the great potential for growth for TSYS. PROSA is a wonderful fit in our strategic growth plan and represents increased opportunities in Latin America."
 TSYS is the second-largest credit card and private label transaction processing company in the world. The company is based in Columbus, Ga., and provides credit card institutions with a comprehensive on-line system of data processing services marketed as THE TOTAL SYSTEM(sm). TSYS serves 110 credit card issuers in 34 states, Puerto Rico and Canada, representing 30 million cardholders and 314,000 merchant accounts. TSYS also provides correspondence products, fulfillment services, direct marketing and promotional services, directly or through its two subsidiaries, Mailtek, Inc., Atlanta, and Lincoln Marketing, Inc., Morristown, N.J., to financial institutions, airlines, health care organizations and other businesses, representing over 20 million customers. TSYS is an 80.8 percent-owned subsidiary of Synovus Financial Corp. (NYSE: SNV), a $5.2 billion multi-financial services company composed of TSYS, 31 banking affiliates in three states and a full-service brokerage firm.
 -0- 1/13/93
 /CONTACT: Kenneth E. Evans, vice chairman of the board of Total System Services, 706-649-4457/
 (TSS SNV)


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

BR-BN -- AT010 -- 4511 01/13/93 15:03 EST
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Publication:PR Newswire
Date:Jan 13, 1993
Words:397
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