TSYS® Reports 43.3% Increase in Net Income for First Six Months of 2000

Columbus, Ga., July 19, 2000 - Total System Services, Inc.® (TSYS®) (NYSE: "TSS") today announced net income and revenues for the six months and quarter ended June 30, 2000.

Net income for the first six months of 2000 increased 43.3% to $45.0 million, up from $31.4 million for the same period last year. Basic and diluted earnings per share for the six months ended June 30, 2000 increased to $.23, up from $.16 for the first six months of 1999. Revenues for the first six months of 2000 were $296.3 million, an increase of 17.5%, compared with revenues of $252.3 million for the first six months of 1999.

Net income for the second quarter of 2000 increased 32.0% to $24.3 million, up from $18.4 million for the same period last year. Basic and diluted earnings per share for the second quarter of 2000 increased to $.12, up from $.09 for the second quarter of 1999. Revenues for the second quarter of 2000 were $150.5 million, an increase of 9.9%, compared with revenues of $137.0 million for the second quarter of 1999.

Chairman and CEO Richard W. Ussery said, "We are extremely pleased with the financial results for the first six months of 2000. With the exceptional growth in the first half of 2000 and continued emphasis on expense control, we are well on our way to meeting our financial projections for 2000."

Ussery continued, "During the second quarter of 2000, we announced the:

  • Signing of a letter of intent with The Royal Bank of Scotland Group Plc to complete a 10-year definitive agreement for the processing of its 7 million consumer and commercial accounts. We also announced the opening of our European Data Center which is expected to be operational by year-end 2000;
  • Signing of Advance Auto Parts, Heilig-Meyers, Commerce Bancshares, Wright Express and AT&T;
  • Expansion of our commercial card service offerings with the integration of ProCard's software solutions as a result of the acquisition of ProCard by Synovus Financial Corp.;
  • Unveiling of our newly designed stored value program; and
  • Increase in our 2000 earnings growth estimate from 20% to 25% over 1999.

We are excited with our results for the first six months of 2000 and look forward to another record year in 2000." TSYS will host a conference call about the quarterly earnings report at 4:15 p.m. EDT, July 19, 2000. The conference call can be accessed at http://www.videonewswire.com/TOTALSYSTEM/101800 (link no longer available). You will be required to register prior to hearing the live web broadcast.

TSYS provides global commerce solutions. With more than 181 million accounts on file, TSYS facilitates the payment exchange between buyers and sellers. TSYS and its family of companies offer a full range of business services from credit application to collections and bankruptcy services for credit, debit, commercial, stored-value and retail accounts. Based in Columbus, Ga., TSYS (NYSE: "TSS") (www.totalsystem.com) is an 80.8-percent-owned subsidiary of Synovus Financial Corp. (NYSE: "SNV") (www.synovus.com).

Contacts:
 James B. Lipham
Chief Financial Officer
ph. (706) 649-2262

Patrick A. Reynolds A. Reynolds
Director of Investor Relations
ph. (706) 649-4973
snvir@synovus.com

This press release contains statements that constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934 as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief or current expectations of TSYS and members of its senior management team with respect to the percentage increase in earnings of TSYS expected for the year 2000, as well as the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release include, but are not limited to, lower than anticipated internal growth rates for TSYS' existing customers, TSYS' inability to control expenses associated with the growth in its number of employees, adverse developments with respect to new product offerings, the inability of TSYS to grow its business through acquisitions, adverse developments with respect to entering into contracts with new clients and retaining current clients, adverse developments with respect to the successful conversion of clients, adverse developments with respect to the credit card industry in general and overall market conditions. Additional factors that could cause actual results to differ materially from those contemplated in this press release can be found in TSYS' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.