TSYS® Extends Retail Agreement with Sears
Columbus, Ga., January 18, 2000 — Total System Services, Inc.® (TSYS®) (NYSE: "TSS"), today announced a one-year extension of its long-term retail processing agreement with Sears, Roebuck and Co. (Sears) (NYSE: "S") until 2010, to include processing of any new Sears consumer credit products scheduled in 2000. Sears accounts are processed on TS2®, the industry’s most technologically advanced processing system. In 1999, TSYS successfully converted the Sears portfolio of 64 million retail cards in the industry’s largest conversion ever.
"TSYS is very excited to extend our relationship with Sears. Sears has already enjoyed the processing power of TS2, and now Sears can experience it with new consumer products. We appreciate Sears’ vote of confidence and look forward to helping Sears grow this business, too," said Richard W. Ussery, Chairman of the Board and CEO of TSYS. "Our team members are committed to helping Sears meet and exceed its business challenges with our world-class people, service and technology."
"TSYS processing has been key to Sears strategy to develop and leverage Sears’ credit customer relationships and to improve service support of Sears many formats and operations. We’ve been pleased with the service from TSYS and look forward to working with TSYS," said Kevin T. Keleghan, President of Sears Credit Services.
Sears, Roebuck and Co., is a leading U.S. retailer of apparel, home and automotive products and services, with annual revenues of more than $41 billion. For more information, visit Sears Web site at www.sears.com.
TSYS is one of the world’s leading processors of data and transactions for domestic and international issuers of credit, debit, commercial and private-label cards. TSYS’ sophisticated systems offer online accounting, data processing, electronic commerce services, portfolio management, account acquisition, credit evaluation, risk management and customer service. With more than 206.2 million accounts on file, TSYS and its family of companies service the entire lifecycle of card accounts, making it possible for 288.6 million consumers to use their cards anytime, anywhere. Headquartered in Columbus, Ga., TSYS (www.totalsystem.com) is an 80.8 percent owned subsidiary of Synovus Financial Corp. (NYSE: "SNV") (www.synovus.com), named one of "The 100 Best Companies To Work For" by FORTUNE magazine in 2000.
Contacts:
Danita Gibson-Lloyd
Corporate Communications Manager
ph. (706) 649-5578
dglloyd@totalsystem.com
Linda Willoughby
Senior Communications Specialist
ph. (706) 644-9423
lwilloug@totalsystem.com