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CyberSource Terminates Negotiations with CardSystems

CyberSource Terminates Negotiations with CardSystems

MOUNTAIN VIEW, Calif., Oct. 15 /PRNewswire-FirstCall/ -- CyberSource Corporation announced at 12:00 p.m. Pacific time today that it had withdrawn its offer to purchase the assets of CardSystems Solutions, Inc. of Atlanta, Georgia. The reason stated for CyberSource's termination was the inability of the parties to reach agreement in a timely manner that created severe obstacles to closing the transaction.

(Logo: http://www.newscom.com/cgi-bin/prnh/19990513/CYBRSOURCELOGO ) Background

On September 23, 2005, CyberSource announced it had signed a non-binding letter of intent to acquire the assets of CardSystems. On September 29, 2005, Visa U.S.A. stated that it was delaying by three months its plan to cut ties with CardSystems. The extension of CardSystems' processing deadline from October 31, 2005 to January 31, 2006 was granted for the sole purpose of facilitating the planned acquisition of CardSystems' assets by CyberSource.

About CyberSource

CyberSource Corporation is a leading provider of electronic payment and risk management solutions. CyberSource solutions enable electronic payment processing for Web, call center, and POS environments. CyberSource also offers industry leading risk management solutions for merchants accepting card-not- present transactions. CyberSource Professional Services designs, integrates, and optimizes commerce transaction processing systems. Approximately 10,000 businesses use CyberSource solutions, including half the companies comprising the Dow Jones Industrial Average. The company is headquartered in Mountain View, California, and has sales and service offices in Japan, the United Kingdom, and other locations in the United States. For more information, please visit CyberSource's web site at http://www.cybersource.com/ or email [email protected].

CyberSource Corporation

CONTACT: Bruce Frymire, Director, Corporate Communications & Investor
Relations, CyberSource Corporation, +1-650-965-6042, [email protected]

Web site: http://www.cybersource.com/

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ISSJ News Desk 10/15/05 03:48:54 PM EDT

CyberSource Terminates Negotiations with CardSystems. CyberSource Corporation announced at 12:00 p.m. Pacific time today that it had withdrawn its offer to purchase the assets of CardSystems Solutions, Inc. of Atlanta, Georgia. The reason stated for CyberSource's termination was the inability of the parties to reach agreement in a timely manner that created severe obstacles to closing the transaction.

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