ATLANTA and MOSCOW, September 11 /PRNewswire/ --

Global Payments Inc. (NYSE: GPN), a leading provider of electronic transaction processing solutions, announced today it has agreed to acquire ZAO United Card Service ("UCS") from ZAO United Investments in a stock purchase transaction. The transaction is subject to regulatory and noteholders' approval and customary closing conditions.

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Noteholders' approval is required because the shares of UCS that Global is purchasing were pledged by United Investments as collateral in connection with a structured notes receivable financing transaction in 2004 by Rosbank, a leading financial institution in the Russian Federation, and an affiliate of United Investments. After the closing of the transaction, the shares of UCS will continue to be pledged as collateral for such notes receivable until it is paid in full, which is anticipated to occur in September 2009. The stock purchase agreement provides Global with a cash escrow for a significant portion of the purchase price in the event of a default under the Rosbank loan.

UCS is a leading direct merchant acquirer and indirect payment processor in the Russian Federation with almost 40 years of industry experience. In December 2007, UCS entered into a ten-year marketing alliance agreement with Rosbank, which provides UCS with Visa and MasterCard bank sponsorship. Rosbank, along with over 40 other financial institutions in the Russian Federation, also provides agent bank processing referrals to UCS under this agreement. In addition, UCS provides indirect payment processing services to over 70 financial institutions and for over 2,500 ATMs.

Rosbank is one of the top Russian banks with the largest network among privately-owned banks, with total assets of approximately US$16.6 billion as of January 1, 2008, and approximately 600 branches with 72 regional subsidiaries throughout Russia. Rosbank's primary activities include retail and corporate banking, investment banking, treasury related operations, trade finance, asset management, private banking, custody and depositary services, international and domestic settlement services, and credit card services. Rosbank is majority-owned by Societe Generale Group (PSE: SOGN).

"We are thrilled to expand our indirect payment processing presence in the Russian payments market and to enter the direct acquiring business with the acquisition of UCS. This transaction demonstrates our continued commitment to our strategic vision of expanding our presence in Eastern and Central Europe, including the Russian Federation. Russia is one of the fastest growing payments markets in the world and will provide strong growth opportunities in both the near- and long-term," said Chairman, President, and Chief Executive Officer of Global Payments, Paul R. Garcia. "In addition to expanding Global's reach in this exciting and fast growing market, we add depth to our existing management team in the region. We will look to UCS and its seasoned management team to accelerate our growth in the Russian Federation and surrounding markets."

"We are excited to be joining a leading provider of electronic payment processing solutions. Being a part of a strong company that understands our business will be welcomed by our current merchant customers, our current bank customers, and our 400 employees," said General Director of UCS, Vladimir Komlev.

Under the terms of the agreement, Global Payments will pay US$120 million in cash to acquire UCS. For the calendar year 2007, UCS had US$34.2 million in revenue with approximately one half of the revenues from the company's direct acquiring operations. Global Payments expects the transaction to be accretive to earnings per share in the first year. Global Payments' management will discuss this acquisition during its fiscal 2009 first quarter earnings call on October 1. The company has also posted a slide presentation relating to this transaction under the Investor Relations section of its Web site at . Management will update the company's financial guidance to reflect this acquisition upon closing of the transaction.

Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Latin America, Europe, the United Kingdom, and the Asia-Pacific region. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. The company also provides consumer money transfer services from the United States and Europe to destinations in Latin America, Morocco, and the Philippines. For more information about the company and its services, visit .

This announcement by Global Payments' may contain certain forward-looking statements within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including revenue and earnings estimates and management's expectations regarding future events and developments, are forward-looking statements and are subject to significant risks and uncertainties. Important factors that may cause actual events or results to differ materially from those anticipated by such forward-looking statements include the following: continued certification by credit card associations, foreign currency risks, competition and pricing, product demand, market and customer acceptance, development difficulties, the effect of economic conditions and consumer spending, security breaches or systems failures, costs of capital, changes in state, federal or foreign laws and increases in credit card association fees, utility or system interruptions, the ability to consummate and integrate acquisitions, and other risks detailed in the Company's SEC filings, including the most recently filed Form 10-Q or Form 10-K, as applicable. The Company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.

Investor Relations Contact: Jane M. Elliott +1-770-829-8234 Voice Media Relations Contact: Phyllis McNeill +1-770-829-8245 Voice

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Investor Relations, Jane M. Elliott, +1-770-829-8234,, or Media Relations, Phyllis McNeill, +1-770-829-8245,, both of Global Payments Inc. / Photo: NewsCom:, AP Archive:, PRN Photo Desk,