Association Update

Smart Card Alliance releases two new studies; The International Islamic Finance Forum will be held February 23-25, 2003 at the Crowne Plaza Hotel, Dubai, United Arab Emirates; Fiserv will Webcast Leslie M. Muma's presentation at Salomon Smith Barney's upcoming 2002 Electronic Financial Services Conference.

The issuing and acquiring processing infrastructure for smart payment cards is making progress as key stakeholders position for expanding consumer smart card use, according to two Smart Card Alliance studies released today.

More than 21 million smart payment cards will be in circulation by the first quarter of 2003, the studies predict.

The latest Alliance white paper, "Smart Cards and the Retail Payments Infrastructure: Status, Drivers, and Directions," describes the current state of the smart card payments infrastructure in the U.S., discusses the key markets and applications that are expected to drive smart card usage and acceptance and outlines the critical barriers to adoption.

"This past year brought many important infrastructure developments, such as the 300,000 smart card-ready payment terminals shipped in 2001, deployments of infrastructure at leading retail chains, the advance of significant new smart card programs from Target, Citibank and others, and increased readiness at the processor level," said Randy Vanderhoof, executive director of the Alliance. "This report gathers in one place all of the information regarding the readiness of the U.S. payment and retail infrastructure to accept smart cards today, and identifies what remains to be done."

The Alliance also released a case study entitled "Ohio EBT Smart Card Program." It discusses the implementation and results of the statewide, offline EBT smart card program in Ohio in which over 375,000 smart cards are active, and more than 10,000 terminals are in use at over 5,000 retail locations.The two reports, written for executives and managers, are available to both members and non-members at no charge at www.smartcardalliance.org.

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The International Islamic Finance Forum will be held February 23-25, 2003 at the Crowne Plaza Hotel, Dubai, United Arab Emirates.

The Forum provides unique global perspectives on the dynamic Islamic investment and financial management market, operating in over 75 countries worldwide and growing at a rate of 20% annually. Organized in association with Dow Jones and Saudi Economic and Development Company, the twice yearly Forum has established itself as the premier business-to-business conference in the field of Islamic finance and is designed for experienced practitioners as well as new entrants to the field.

For more information, visit www.iiff.net

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Fiserv president and CEO Leslie M. Muma's presentation at Salomon Smith Barney's upcoming 2002 Electronic Financial Services Conference on November 6, 2002, will be broadcast live over the Web.

The Webcast of Muma's presentation will begin at 10:00 a.m. eastern time on November 6, 2002. An archive of the conference will be available from shortly after the call until 5 p.m. on November 8, 2002.

The live Webcast and archived replay can be accessed on the Fiserv Web site at www.fiserv.comwww.fiserv.com.