First Data Sets Record Date For Concord Merger

DENVER – Those on record as owning shares of First Data Resources as of September 8, 2003 will be the shareholders eligible to attend a special shareholder meeting on the card processor’s pending merger with Memphis-based Concord EFS and to vote on the merger. Concord EFS is the parent company of the STAR EFT network. First Data holds a majority share in the NYCE EFT network. A merger between the two firms would give the resulting firm an estimated 75% share in the market for processing debit card transactions that verify their cardholders’ identities with a personal identification number. In announcing the record date, First Data said that it remains committed to working cooperatively with the antitrust division of the U.S. Department of Justice to provide materials following its request for additional information. The company expects the transaction to close in the second half of 2003. The Justice Department has yet to sign off on the First Data Concord merger.