NOVA Information Systems to Acquire Citibank Card Acceptance in Europe; Acquisition Expands NOVA's Global Acquiring Footprint; Doubles Merchant Count in Europe

Citibank Card Acceptance has a significant payment processingpresence in Europe's fast growing multi-currency and cross-borderacquiring business. The cross-border sector is expected to growsignificantly, driven in part by EU regulations promoting greatercross-border competition.

The CCA acquisition is one of the largest in euroConex's history,and is part of NOVA's ongoing strategy to increase its footprint inEurope by providing bank partners and merchants across the region witha greater array of payment processing services including cross-borderacquiring, multi-currency processing, and dynamic currency conversionsolutions.

"This acquisition is our most significant move yet to expand ourshare of the pan-European acquiring market and gain a large piece ofthat growing business," said Stuart C. Harvey, Jr., president, NOVAand chairman, euroConex. "CCA has demonstrated true success in theindustry by building a very strong merchant portfolio. We are honoredto serve their customers by offering a full portfolio of payment andvalue-added solutions that will keep them competitive in this rapidlychanging market."

"This transaction advances our goal to put our capital to work inour businesses with the greatest growth potential: credit cardissuance, retail banking and consumer finance," said Frits Seegers,chief executive officer, Europe Middle East and Africa, CitigroupGlobal Consumer Group. "When this transaction is completed, we areconfident that customers will continue to receive high-qualityservice, as NOVA has consistently demonstrated their commitment tothis business."

Approximately 160 CCA employees will be employed by euroConex tocontinue to serve its customers from existing operations centers. Theacquisition, which is subject to regulatory approvals, is expected tobe completed by the end of 2005. Terms of the agreement were notdisclosed.

About NOVA

NOVA Information Systems, a leader in the payment processingindustry, is a wholly owned subsidiary of U.S. Bancorp (NYSE:USB).Combined, NOVA and its affiliate euroConex and Elan, provide globalmerchant processing services to financial institutions and customersin the United States, Canada, and Europe. NOVA offers integratedpayment processing services to more than 800,000 merchants in theUnited States and Europe. For more information visit www.novainfo.com.

About euroConex

EuroConex Technologies, Ltd is the European affiliate of NOVAInformation Systems and a wholly owned subsidiary of U.S. Bancorp. Thecompany provides an integrated payments processing service tofinancial institutions and merchants in Ireland, the UK, France,Sweden, the Netherlands, Spain, Poland and Norway using amulti-currency platform. In addition to point of sale, internationalpoint of sale and e-commerce solutions, euroConex also provides arange of specialist multi-currency products including Dynamic CurrencyConversion (DCC). For more information visit www.euroconex.com.