TSYS Ranks Among World’s Largest Data Companies
Largest Ever Technology Agreement for TSYS
Columbus, Ga., May 29, 2002 - In a comprehensive service agreement, TSYS® has extended its contract to purchase hardware, software, maintenance and other services from IBM for $194 million through 2006, ranking TSYS as one of the world's largest financial data companies. TSYS will deploy these technology assets in the United States and internationally, allowing the company to control operating expenses, improve productivity and to accommodate projected increases in transaction volumes. When implementation is complete, TSYS will rank among IBM's 25 highest capacity clients in the United States and the top 50 worldwide.
With IBM eServer zSeries mainframe processors - at least 20 percent faster than the former processors that TSYS employs today - TSYS will reduce the number of mainframe computers in its data centers while improving overall capacity, simplicity, availability and efficiency for its processing clients. The zSeries processors also will enable faster system enhancements for TSYS clients. Testing and installation will continue through February 2003.
TSYS data centers currently process more than 14 billion instructions per second and have more than 70 terabytes (70 trillion bytes) of storage capacity - seven times more than the Library of Congress holds in print. TSYS will service more than 21 billion instructions per second by year-end 2006, according to current projections.
"This agreement extends a technology relationship that started more than 20 years ago. Still today, IBM service and technology remain at the core of the industry's most sophisticated payment systems," says Richard W. Ussery, chairman of the board and CEO of TSYS. "These services will allow us to be even more responsive to our clients' needs, improve productivity and achieve the highest levels of service that are possible today."
About TSYS
TSYS (NYSE: "TSS") (www.tsys.com) brings integrity and innovation to the world of electronic payments. TSYS serves as the integral link between buyers and sellers in the rapidly evolving universe of electronic payments. With more than 229 million accounts on file, TSYS makes it possible for millions of consumers to use their credit, debit, stored value, commercial, smart and retail cards any time, anywhere through any medium or portal. TSYS offers a full range of acquiring and issuing services from accepting and settling electronic payments for goods and services to credit applications, bankruptcy and collections. Based in Columbus, Ga., TSYS serves companies in 19 countries, 17 currencies and four languages. TSYS maintains operations in Canada, Mexico, Japan, and Europe and is an 81.1-percent-owned subsidiary of Synovus (NYSE: "SNV") (www.synovus.com ), No. 5 on FORTUNE magazine's list of "The 100 Best Companies To Work For" in 2002. For more information, contact news@tsys.com.
Contacts:
Eric S. Bruner
Media Relations
706.644.8457
ebruner@tsys.com
Leo Berard
Investor Relations
706.644.6081
leoberard@synovus.com