New Executive Team to Accelerate Growth Strategies into the Next Millennium Thomas F. Chapman, Equifax (NYSE: EFX) chairman and chief executive officer, today announced the board of directors has named Lee Kennedy president and chief operating officer, a new position for the company. Kennedy, who also was elected to the board of directors, has more than 28 years of experience with Equifax, most recently serving as executive vice president-group executive of Equifax Payment Services based in St. Petersburg, Fla. Kennedy will relocate to Atlanta this month.
(http://www.newscom.com/cgi-bin/prnh/19990609/ATW001) "Lee's global experience, knowledge of our industry and business, and his tremendous success in managing our payment services unit make him an ideal leader to execute our plans and strategies to extend our market leadership," said Chapman. "Elevating Lee significantly strengthens Equifax's leadership team, enabling Equifax to take full advantage of several new strategic growth initiatives, while continuing to drive the performance of our North American, European and South American operations. "Lee and I have worked together for a long time. His leadership skills, along with his ability to recruit and develop people, will be instrumental in managing the day-to-day operations of our businesses to achieve our overall performance goals." Kennedy said, "I'm enthusiastic about working more closely with Tom across all our businesses and the tremendous opportunities to build on the operational and financial success of Equifax's first 100 years." Chapman to Focus on Emerging Markets, Strategic Planning As chairman and CEO, Chapman will focus on the company's strategic direction and the rapidly emerging growth initiatives, including, but not limited to: mergers and acquisitions; Knowledge Engineering, the nation's premier database marketing resource; Equifax Secure, the company's online identity verification and digital certificate unit; Equifax's consumer initiatives; Internet products and services; and other strategic focus areas. Chapman, who was elected chairman of the board in May 1999, became Equifax president and CEO in January 1998. "Equifax is on track to achieve record results in 1999 and is uniquely positioned to globally expand our traditional businesses while capturing untapped markets for our strategic growth initiatives," Chapman said. "Our focus remains fixed on opportunities driven by our four-part strategy: geographic expansion, value-added products and services, customized solutions across multiple industries and technological innovation. We will continue to apply our skills and expertise to leverage opportunities in our markets around the world." Kennedy Background and Highlights Prior to serving as executive vice president-group executive of payment services, Kennedy, 48, was senior vice president and general manager for Equifax Card Solutions. In addition, he served as president of the Telecredit Service Center from 1981- 1990. Telecredit, acquired by Equifax in 1990, became Equifax Check Solutions and Equifax Card Solutions. In 1995, the two were combined into Equifax Payment Services. In 1998, revenues for Payment Services grew to $518 million, up 18% from 1997. Kennedy also helped pioneer card issuing to community banks and credit unions. He was primarily responsible for securing long-term business contracts with the Independent Bankers Association of America (IBAA) and Card Services for Credit Unions (CSCU). In addition, Larry Towe, former senior vice president and general manager of Equifax Card Solutions International, will succeed Kennedy as executive vice president-group executive of Equifax Payment Services. About Equifax Equifax (www.equifax.com ), a worldwide leader in shaping global commerce, brings buyers and sellers together through its information management, transaction processing and knowledge- based businesses. Atlanta-based Equifax serves the financial services, retail, credit card, telecommunications/utilities, transportation, information technology and healthcare industries and government. Equifax adds knowledge, expertise, convenience and security to provide value-added solutions and processes for its customers wherever they do business, including the Internet and other networks. Entering its second century in business, Equifax employs about 13,000 associates in 18 countries with sales in almost 50 and had nearly $1.7 billion in revenue in 1998. Statements in this press release that relate to Equifax's future plans, objectives, expectations, performance, events and the like are "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Those factors could include changes in worldwide and U.S. economic conditions that materially impact consumer spending and consumer debt, changes in demand for the Company's products and services, risks associated with the integration of acquisitions and other investments, and other factors discussed in the "Forward-looking Information" section in the management's discussion and analysis included at Part II, Item 7 in the Company's annual report on Form 10-K for the year ended December 31, 1998, and in the "Year 2000 Information" section in the management's discussion and analysis included at Part I, item 2 in the Company's report on Form 10-Q for the first quarter of 1999. ots Original Text Service: Equifax Inc. Internet: http://www.newsaktuell.de Contact: Marietta Edmunds Zakas, Corp. Vice President of Equifax Inc., 404-885-8304, or firstname.lastname@example.org Photo: http://www.newscom.com/cgi- bin/prnh/19990609/ATW001 or NewsCom, 213-237-5431; PressLink Online, 800-888-6195 Web site: http://www.equifax.com