DENVER, Feb. 5 /PRNewswire-FirstCall/ -- Western Union Financial Services,
Inc., a subsidiary of First Data (NYSE: FDC), today confirmed that on
February 4, 2004, it received a Civil Investigative Demand (CID) from the
United States Department of Justice (DOJ). A CID is a request for information
in the course of a civil investigation and does not constitute the
commencement of legal proceedings.
Western Union was informed that the focus of the civil antitrust
investigation regards contractual relationships between the company and its
money transfer agents. The company believes that its contractual practices
reflect common industry norms.
Western Union also has been informed that certain states are aware of this
CID and may join in the investigation or conduct separate inquiries concerning
competitive aspects of its money transfer business.
In the 2000-2001 period, the Federal Trade Commission and one state
conducted preliminary investigations of similar issues. These investigations
were closed without any action being taken. Since that time, Western Union
believes that the money transfer business has become even more dynamic and
highly competitive.
First Data does not expect this civil investigation of the money transfer
business will impact its ability to complete its merger with Concord EFS
following anticipated approval of the transaction by Concord's shareholders on
February 26, 2004.
About Western Union and First Data:
Western Union Financial Services, Inc. a subsidiary of First Data Corp.
(NYSE: FDC), is an international leader in consumer money transfer services.
Consumers can quickly and reliably pay bills and transfer money around the
globe using the company's proprietary money transfer network. Western Union
and its subsidiary, Orlandi Valuta, together make up one of the world's
largest money transfer networks with a total of approximately 182,000 Agent
locations in more than 195 countries and territories. Famous for its
pioneering telegraph service, the original Western Union dates back to 1851
and introduced electronic money transfer service in 1871. For more
information, please visit the company's Web site at http://www.westernunion.com.
First Data Corp., with global headquarters in Denver, helps power the
global economy. Serving approximately 3.1 million merchant locations,
1,400 card issuers and millions of consumers, First Data makes it easy, fast
and secure for people and businesses to buy goods and services, using
virtually any form of payment: credit, debit, smart card, stored-value card or
check at the point-of-sale, over the Internet or by money transfer. For more
information, please visit the company's Web site at http://www.firstdata.com.
Not a Proxy Solicitation
This communication is not a solicitation of a proxy from any security
holder of Concord EFS, Inc. First Data Corporation has filed a definitive
amended proxy statement/prospectus with the Securities and Exchange Commission
(SEC) concerning the planned merger of Concord with a subsidiary of First
Data. WE URGE INVESTORS TO READ THE DEFINITIVE VERSION OF THE AMENDED PROXY
STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE
SEC, BECAUSE THEY CONTAIN (OR WILL CONTAIN WHEN FILED) IMPORTANT INFORMATION.
Investors can obtain the definitive amended proxy statement/prospectus and
other relevant documents free of charge at the SEC's website, http://www.sec.gov. In
addition, documents filed with the SEC by First Data will be available free of
charge from First Data Investor Relations, 6200 S. Quebec St., Suite 340,
Greenwood Village, CO 80111. Documents filed with the SEC by Concord will be
available free of charge from Concord Investor Relations, 2525 Horizon Lake
Drive, Suite 120, Memphis, TN 38133.
First Data and its directors and executive officers and other members of
its management and employees, may be deemed to be participants in the
solicitation of proxies in connection with the planned merger. Information
about the directors and executive officers of First Data and their ownership
of First Data stock is set forth in the proxy statement for First Data's 2003
annual meeting of stockholders. Investors may obtain additional information
regarding the interests of the participants by reading the definitive amended
proxy statement/prospectus.
FDC-1
SOURCE First Data
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Related links:
http://www.westernunion.com
http://www.firstdata.com
CONTACT:
investors, David Banks, +1-303-967-8057, or
media, Wendy Carver-Herbert, +1-303-967-6416, both of First Data
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