Fote Retires, Duques Named First Data Chairman, CEO

Fote, 56, has been CEO since 2002 and Chairman since 2003. He will continue as Chairman until year-end and as a Director until the 2006 Annual Meeting. He will also serve as a consultant for the next eighteen months.

Henry C. (Ric) Duques, 62, who was Fote's predecessor and led First Data from before its IPO in 1992 until he stepped down as CEO in 2002, will return as Chairman and CEO for approximately two years to lead the Company forward while assisting the Board in conducting a thorough and orderly succession process that will evaluate both internal and external candidates.

James D. Robinson III, Chair of the Board's Executive Committee, said, "Charlie Fote has played a major role in the development of First Data into a position of market leadership in the U.S. and abroad through impressive organic growth and successful acquisitions. The Board would like to thank him for his numerous and significant contributions to First Data and its shareholders over the past 30 years. We understand his decision to step down and we wish him all the best."

Robinson continued, "We are very pleased that Ric Duques has agreed to return to lead First Data and our talented senior executive team. Ric has a proven track record, having increased the Company's revenues and market capitalization seven-fold during the decade he served as CEO. He is widely acknowledged as an industry leader and is highly respected inside the Company. The Board is confident that First Data will not miss a beat, and is deeply appreciative of Ric's willingness to serve as long as he is needed."

"I look forward to working once again with the dedicated executives and employees at First Data," said Duques. "First Data's powerful competitive position in the electronic payment and merchant markets, as well as its rapidly expanding international business, provide the Company with a compelling platform for further growth. The challenge is to make the most of First Data's market leadership for the benefit of our shareholders, partners, customers and employees. I have the utmost respect for Charlie and know that I speak for the entire organization in saying we will miss working with him and we wish him well."

Fote said, "I am proud of what we have accomplished, and I leave knowing the Company is in an excellent position with its best years still ahead. I am confident that Ric and the superb management team we have built will continue to leverage First Data's advanced technology, innovation and strong position in key growth markets to build value for our shareholders."