FIRST DATA CORPORATION
                   CONSOLIDATED STATEMENTS OF INCOME
                              (Unaudited)
                (in millions, except per share amounts)

                                          Three Months Ended March 31,
                                          ----------------------------

                                             2006      2005    Change
                                           ---------  -------- -------
Revenues:
Transaction and processing service fees:
   Money transfer services                $ 1,034.0  $  897.7      15%
   Merchant services                          593.4     543.6       9%
   Check services                              94.3      95.9      -2%
   Card services                              390.9     407.9      -4%
   Other services                              80.7      85.9      -6%
Investment income, net                        (13.0)    (12.8)     -2%
Product sales and other                       181.2     146.0      24%
Reimbursable debit network fees, postage
 and other                                    340.3     302.1      13%
                                           ---------  --------
                                            2,701.8   2,466.3      10%
                                           ---------  --------

Expenses:
Cost of services                            1,330.4   1,203.6      11%
Cost of products sold                          66.6      59.6      12%
Selling, general and administrative           407.5     390.4       4%
Reimbursable debit network fees, postage
 and other                                    340.3     302.1      13%
Other operating expenses:
   Restructuring, net                          (0.8)        -      NM
   Impairments                                    -      (1.0)     NM
   Litigation and regulatory settlements       15.0       0.1      NM
   Other                                        2.2         -      NM
                                           ---------  --------
                                            2,161.2   1,954.8      11%

                                          ---------- --------
Operating profit                              540.6     511.5       6%
                                           ---------  --------

Other income (expense):
   Interest income                              8.4       4.9      71%
   Interest expense                           (69.2)    (48.1)     44%
   Investment gains and (losses)                  -      22.8      NM
   Divestitures, net                            7.6       6.3      NM
                                           ---------  --------
                                              (53.2)    (14.1)     NM
                                           ---------  --------

Income before income taxes, minority
 interest, equity earnings in affiliates
 and discontinued operations                  487.4     497.4      -2%

Income taxes                                  143.9     143.4       0%

Minority interest                             (29.6)    (27.6)      7%
Equity earnings in affiliates                  60.8      48.1      26%

                                          ---------- --------
Income from continuing operations             374.7     374.5       0%

Loss from discontinued operations, net of
 taxes of $(0.6) and $0, respectively(a)       (1.0)        -      NM

                                          ---------- --------
Net income                                $   373.7  $  374.5       0%
                                           =========  ========

Earnings per share from continuing
 operations:
  Basic                                   $    0.49  $   0.47       4%
  Diluted                                 $    0.48  $   0.47       2%


Earnings per share:
  Basic                                   $    0.49  $   0.47       4%
  Diluted                                 $    0.48  $   0.47       2%


Weighted-average shares outstanding:
   Basic                                      765.5     793.6      -4%
   Diluted                                    780.2     803.9      -3%

Shares outstanding at end of period           765.6     778.6      -2%

(See accompanying notes)



                        FIRST DATA CORPORATION
                         SUMMARY SEGMENT DATA
                              (Unaudited)
                             (in millions)


                                          Three Months Ended March 31,
                                          ----------------------------

                                             2006      2005    Change
                                           ---------  -------- -------
Revenues:
---------
    Western Union                         $ 1,060.9  $  918.2      16%
    First Data Commercial Services            934.4     855.0       9%
    First Data Financial Institution
     Services                                 445.2     470.6      -5%
    First Data International                  263.9     213.4      24%
    Integrated Payment Systems                 30.3      33.1      -8%
                                           ---------  --------
              Subtotal segment revenues     2,734.7   2,490.3      10%
    All Other and Corporate                   147.3     131.0      12%
                                           ---------  --------
                                            2,882.0   2,621.3      10%
                                           ---------  --------

    Adjustments for items included in
     segment and All Other and Corporate
     revenues:(b)
    Equity earnings in affiliates(c)          (68.9)    (57.3)     20%
    Interest income                            (8.4)     (4.9)     71%
    Eliminations(d)                          (102.9)    (92.8)     NM
                                           ---------  --------
              Consolidated revenue        $ 2,701.8  $2,466.3      10%
                                           =========  ========

Operating profit:(e)
--------------------

    Western Union                         $   336.8  $  298.2      13%
    First Data Commercial Services            214.4     173.4      24%
    First Data Financial Institution
     Services                                  84.3      87.6      -4%
    First Data International                   29.1      21.6      35%
    Integrated Payment Systems                  4.4      10.8     -59%
                                           ---------  --------
              Subtotal segment operating
               profit                         669.0     591.6      13%
    All Other and Corporate                   (12.0)      1.0      NM
                                           ---------  --------
                                              657.0     592.6      11%
                                           ---------  --------

    Adjustments for items included in
     segment and All Other and Corporate
     operating profit:(b)
    Equity earnings in affiliates             (60.8)    (48.1)     26%
    Minority interest from segment
     operations(f)                             29.9      27.6       8%
    Eliminations(d)                           (60.7)    (56.6)     NM
    Interest expense                          (69.2)    (48.1)     44%
    Items excluded from segment
     operations(g)                             (8.8)     30.0      NM
                                           ---------  --------
    Income before income taxes, minority
     interest, equity earnings in
     affiliates and discontinued
     operations                           $   487.4  $  497.4      -2%
                                           =========  ========

Depreciation & Amortization:
----------------------------

    Western Union                         $    25.9  $   20.4      27%
    First Data Commercial Services             78.1      81.5      -4%
    First Data Financial Institution
     Services                                  38.6      42.0      -8%
    First Data International                   42.1      35.6      18%
    Integrated Payment Systems                  2.9       3.0      -3%
    All Other and Corporate                    13.9      12.9       8%
                                           ---------  --------
    Consolidated depreciation &
     amortization                         $   201.5  $  195.4       3%
                                           =========  ========

(See accompanying notes)



                        FIRST DATA CORPORATION
                     NOTES TO FINANCIAL SCHEDULES
                              (Unaudited)


Effective January 1, 2006, the Company began assessing performance and
allocating resources based on a new segment structure. Segment results
for 2005 and 2004 have been adjusted to reflect the new structure. In
addition, consolidated revenues for 2005 and 2004 have been adjusted
to present "Transaction and processing service fees" by revenue type
and to reflect the reclassification of debit network fees from
"Transaction and processing service fees" to "Reimbursable debit
network fees, postage and other."

(a) Discontinued operations relate to NYCE.

(b) Reconciles the total segment and All Other and Corporate revenue
    to consolidated revenue or total segment and All Other and
    Corporate operating profit to income before income taxes, minority
    interest, equity earnings in affiliates and discontinued
    operations as reported on the Consolidated Statements of Income.

(c) Excludes equity losses that were recorded in expense and the
    amortization related to the excess of the investment balance over
    the Company's proportionate share of the investee's net book
    value.

(d) Represents elimination of adjustment to record Integrated Payment
    Systems segment investment income and its related operating profit
    on a pretax equivalent basis and elimination of intersegment
    revenue.

(e) Segment and All Other and Corporate operating profit includes
    interest income, minority interest from segment operations, equity
    earnings in affiliates and the allocation of corporate overhead.
    Segment and All Other and Corporate operating profit excludes
    items discussed in note (g) below and interest expense.

(f) Minority interest from segment operations excludes minority
    interest attributable to items excluded from segment operations
    discussed in note (g) below as well as minority interest related
    to interest expense and income taxes.

(g) Items, other than interest expense, excluded from segment
    operations consist of the following:


(in millions)       Three months ended
                      March 31, 2006
--------------------------------------

Restructuring, net                     Reversals of excess
                                        restructuring accruals of $1.2
                                        million during the three
                                        months were partially offset
                                        by a $0.4 million charge
                                        related to a facility closure
                                        associated with actions taken
                    $             0.8   in the fourth quarter 2005.

Litigation and                         A charge was recorded during
 regulatory                             the three months related to
 settlements                            the settlement of a patent
                                        infringement lawsuit in the
                                (15.0)  Commercial Services segment.

Divestitures, net                      Gains on the sale of corporate
                                        aircraft and a small business
                                        were recorded during the three
                                  7.6   months.

Other                                  Other relates to direct
                                        external costs incurred
                                        related to the spinoff of
                                        Western Union partially offset
                                        by the reversal of a portion
                                        of other charges recorded in
                                 (2.2)  2005.
                     -----------------
                                 (8.8)
Minority interest                   -
                     -----------------
                    $            (8.8)
                     =================

(in millions)       Three months ended
                      March 31, 2005
--------------------------------------

Impairments                            A gain was recorded for the
                                        three months due to the
                                        subsequent sale of assets
                    $             1.0   previously impaired.

Litigation and                         Charges recorded during the
 regulatory                             three months relate to a
 settlements                            regulatory settlement of $1.5
                                        million in the Western Union
                                        segment offset by the reversal
                                        of an unutilized reserve
                                        established in 2000 for the
                                        settlement of a lawsuit also
                                 (0.1)  in the Western Union segment.

Investment gains                       A gain of $21.4 million on the
 and (losses)                           sale of CheckFree Corporation
                                        common stock was recorded for
                                        the three months as well as
                                        the sale of other strategic
                                 22.8   investments.

Divestitures, net                      A gain on the sale of a small
                                        business was recorded and
                                        certain excess divestiture
                                        accruals were reversed during
                                        the three months due to the
                                        expiration of certain
                                  6.3   contingencies.
                     -----------------
                                 30.0
Minority interest                   -
                     -----------------
                    $            30.0
                     =================


NM = Not meaningful.



                        FIRST DATA CORPORATION
                   FINANCIAL TRANSACTION PROCESSING
                            KEY INDICATORS
                              (Unaudited)
                             (in millions)

                                          Three Months Ended March 31,
                                          ----------------------------
                                             2006       2005    Change
                                          ------------ -------- ------
Western Union
-------------
   Consumer-to-consumer money transfer
    transactions(a)                             33.26    25.34     31%
   Consumer-to-business transactions(b)         44.30    39.59     12%

Commercial Services
-------------------
   Domestic merchant transactions(c)          5,833.9  5,092.0     15%

Financial Institution Services
------------------------------
   Domestic active card accounts on
    file:(d)
     Bankcard                                    30.3     43.4    -30%
     Retail                                      57.2     56.6      1%
                                          ------------ --------
        Total                                    87.5    100.0    -13%
                                          ============ ========

   Domestic debit issuer transactions(e)      2,074.5  1,839.5     13%

First Data International
------------------------
   International card accounts on file:
     Bankcard                                    27.2     22.8     19%
     Retail                                       5.2      3.9     33%
                                          ------------ --------
        Total                                    32.4     26.7     21%
                                          ============ ========

   International transactions(f)                955.2    518.1     84%


(a) Consumer-to-consumer money transfer transactions include
    consumer-to-consumer money transfer services worldwide. Amounts
    for 2006 include Vigo Remittance Corp. ("Vigo") which was acquired
    in October 2005. Excluding Vigo, consumer-to-consumer money
    transfer transactions grew 22% for the three months ended March
    31, 2006.

(b) Consumer-to-business transactions include Quick Collect, EasyPay,
    PhonePay, Paymap's Just-in-Time and Equity Accelerator services,
    and E Commerce Group's Speedpay transactions directly processed by
    E Commerce Group.

(c) Domestic merchant transactions include acquired VISA and
    MasterCard credit and signature debit, PIN-debit, electronic
    benefits transactions ("EBT"), and processed-only or gateway
    customer transactions at the point of sale ("POS"). Domestic
    merchant transactions also include acquired ATM transactions,
    gateway transactions at ATMs, and STAR PIN-debit POS transactions
    received from other acquirers.

(d) Domestic active card accounts on file include customer accounts
    that had a balance or any monetary posting or authorization during
    the last month of the quarter.

(e) Domestic debit issuer transactions include VISA and MasterCard
    signature debit, STAR ATM, STAR PIN-debit POS, and ATM and
    PIN-debit POS gateway transactions.

(f) International transactions include VISA, MasterCard and other card
    association merchant acquiring and switching and debit issuer
    transactions for clients outside the U.S. Merchant transactions
    include credit, signature debit and PIN-debit POS, POS gateway and
    ATM transactions. Debit issuer transactions include signature and
    PIN-debit POS, POS gateway and ATM transactions.



                        FIRST DATA CORPORATION
                         SUPPLEMENTAL METRICS
                              (Unaudited)


For the Three Months Ended March 31, 2006:
------------------------------------------

Consolidated financial metrics (in
 millions):
 Capital expenditures                  $          143
 Dividends                             $           46

Western Union
-------------
Consumer-to-consumer:                  Including Vigo   Excluding Vigo
                                       ---------------  --------------
 U.S. same store sales transaction
  growth                                          N/A              16%
 International transaction growth                  35%             28%
 International revenue growth                      18%             15%
 Mexico transaction growth                         55%             17%
 Mexico revenue growth                             54%             20%

Financial Institution Services
------------------------------
At March 31, 2006
-----------------
Domestic card accounts on file (in
 millions):
 Bankcard                                        66.5
 Retail                                         259.2
 Debit                                          100.0
                                        --------------
   Total                                        425.7
                                        ==============

First Data International
------------------------
At March 31, 2006
-----------------
International card accounts on file
 (in millions):
 Bankcard                                        27.2
 Retail                                           5.2
 Debit                                           14.4
                                        --------------
   Total                                         46.8
                                        ==============

N/A - Not applicable



                        FIRST DATA CORPORATION
  CONSOLIDATED REVENUE AND EXPENSE - ADJUSTED FOR SEGMENT REALIGNMENT
                              (unaudited)
                             (in millions)


                                 Twelve        Three         Three
                              Months ended  Months ended Months ended
                               12/31/2004    3/31/2005     6/30/2005
                               ------------  -----------  ------------
Revenues:
---------
Transaction and processing
 service fees:
    Money transfer services   $    3,448.1  $     897.7  $      957.9
    Merchant services              2,324.9        543.6         589.5
    Check services                   413.8         95.9          94.5
    Card services                  1,627.2        407.9         398.3
    Other services                   353.3         85.9          85.7
Investment income, net                91.2        (12.8)        (14.8)
Product sales and other              671.3        146.0         160.6
Reimbursable debit network
 fees, postage and other           1,083.4        302.1         323.5
                               ------------  -----------  ------------
                              $   10,013.2  $   2,466.3  $    2,595.2
                               ============  ===========  ============

Expenses:
---------
Cost of services              $    4,641.0  $   1,203.6  $    1,232.6
Selling, general and
 administrative                    1,610.5        390.4         407.9
Reimbursable debit network
 fees, postage and other           1,083.4        302.1         323.5
Other expenses                       344.5         58.7          80.4
                               ------------  -----------  ------------
                              $    7,679.4  $   1,954.8  $    2,044.4
                               ============  ===========  ============


                               Three          Three         Twelve
                           Months ended   Months ended   Months ended
                             9/30/2005      12/31/2005     12/31/2005
                            ------------    ------------   -----------
Revenues:
---------
Transaction and processing
 service fees:
    Money transfer
     services              $    1,001.3    $    1,057.8   $   3,914.7
    Merchant services             611.6           653.4       2,398.1
    Check services                 95.6            95.3         381.3
    Card services                 392.8           393.0       1,592.0
    Other services                 79.5            80.3         331.4
Investment income, net            (14.2)          (16.5)        (58.3)
Product sales and other           178.7           164.5         649.8
Reimbursable debit network
 fees, postage and other          316.6           339.2       1,281.4
                            ------------    ------------   -----------
                           $    2,661.9    $    2,767.0   $  10,490.4
                            ============    ============   ===========

Expenses:
---------
Cost of services           $    1,255.3    $    1,304.3   $   4,995.8
Selling, general and
 administrative                   402.8           427.3       1,628.4
Reimbursable debit network
 fees, postage and other          316.6           339.2       1,281.4
Other expenses                    103.2           187.1         429.4
                            ------------    ------------   -----------
                           $    2,077.9    $    2,257.9   $   8,335.0
                            ============    ============   ===========



                        FIRST DATA CORPORATION
        SUMMARY SEGMENT DATA - ADJUSTED FOR SEGMENT REALIGNMENT
                              (unaudited)
                             (in millions)


                                  Twelve       Three         Three
                               Months ended Months ended Months ended
                                12/31/2004   3/31/2005     6/30/2005
                                -----------  -----------  ------------
Revenues:
---------
    Western Union              $   3,523.6  $     918.2  $      979.6
    First Data Commercial
     Services                      3,582.1        855.0         929.7
    First Data Financial
     Institution Services          1,858.3        470.6         482.1
    First Data International         769.5        213.4         212.8
    Integrated Payment Systems       278.7         33.1          34.9
                                -----------  -----------  ------------
               Subtotal
                segment
                revenues          10,012.2      2,490.3       2,639.1
    All other and corporate          522.0        131.0         123.7
                                -----------  -----------  ------------
                                  10,534.2      2,621.3       2,762.8
                                -----------  -----------  ------------

    Adjustments for items
     included in segment and
     all other and corporate
     revenue:
    Equity earnings in
     affiliates                     (198.3)       (57.3)        (64.6)
    Interest income                  (25.1)        (4.9)         (4.6)
    Divested operations               58.1            -             -
    Eliminations                    (355.7)       (92.8)        (98.4)
                                -----------  -----------  ------------
               Consolidated
                revenue        $  10,013.2  $   2,466.3  $    2,595.2
                                ===========  ===========  ============


Operating profit:
-----------------
    Western Union              $   1,121.0  $     298.2  $      324.3
    First Data Commercial
     Services                        944.1        173.4         217.3
    First Data Financial
     Institution Services            413.4         87.6         106.1
    First Data International          77.7         21.6          23.5
    Integrated Payment Systems       177.3         10.8          10.5
                                -----------  -----------  ------------
               Subtotal
                segment
                operating
                profit             2,733.5        591.6         681.7
    All other and corporate          (25.0)         1.0         (19.7)
                                -----------  -----------  ------------
                                   2,708.5        592.6         662.0
                                -----------  -----------  ------------

    Adjustments for items
     included in segment and
     all other and corporate
     operating profit:
    Equity earnings in
     affiliates                     (163.9)       (48.1)        (55.4)
    Divested operations               11.2            -             -
    Minority interest from
     segment operations              136.8         27.6          32.9
    Eliminations                    (212.3)       (56.6)        (62.3)
    Interest expense                (136.8)       (48.1)        (55.0)
    Items excluded from
     segment operations              149.7         30.0         (22.2)
    Income before income
     taxes, minority interest,
     equity earnings in
     affiliates and             -----------  -----------  ------------
     discontinued operations   $   2,493.2  $     497.4  $      500.0
                                ===========  ===========  ============


                               Three          Three          Twelve
                            Months ended   Months ended   Months ended
                              9/30/2005      12/31/2005     12/31/2005
                             -----------    ------------   -----------
Revenues:
---------
    Western Union           $   1,023.4    $    1,079.1   $   4,000.3
    First Data Commercial
     Services                     962.7         1,014.1       3,761.5
    First Data Financial
     Institution Services         474.3           438.3       1,865.3
    First Data
     International                228.7           263.3         918.2
    Integrated Payment
     Systems                       32.5            29.8         130.3
                             -----------    ------------   -----------
               Subtotal
                segment
                revenues        2,721.6         2,824.6      10,675.6
    All other and corporate       123.3           130.8         508.8
                             -----------    ------------   -----------
                                2,844.9         2,955.4      11,184.4
                             -----------    ------------   -----------

    Adjustments for items
     included in segment
     and all other and
     corporate revenue:
    Equity earnings in
     affiliates                   (74.5)          (76.8)       (273.2)
    Interest income                (5.6)           (6.1)        (21.2)
    Divested operations               -               -             -
    Eliminations                 (102.9)         (105.5)       (399.6)
                             -----------    ------------   -----------
               Consolidated
                revenue     $   2,661.9    $    2,767.0   $  10,490.4
                             ===========    ============   ===========


Operating profit:
-----------------
    Western Union           $     351.1    $      360.1   $   1,333.7
    First Data Commercial
     Services                     239.9           262.5         893.1
    First Data Financial
     Institution Services          98.6            85.6         377.9
    First Data
     International                 29.5            38.7         113.3
    Integrated Payment
     Systems                        7.7             6.4          35.4
                             -----------    ------------   -----------
               Subtotal
                segment
                operating
                profit            726.8           753.3       2,753.4
    All other and corporate       (16.3)          (26.4)        (61.4)
                             -----------    ------------   -----------
                                  710.5           726.9       2,692.0
                             -----------    ------------   -----------

    Adjustments for items
     included in segment
     and all other and
     corporate operating
     profit:
    Equity earnings in
     affiliates                   (65.7)          (67.7)       (236.9)
    Divested operations               -               -             -
    Minority interest from
     segment operations            35.4            34.5         130.4
    Eliminations                  (61.9)          (63.4)       (244.2)
    Interest expense              (59.9)          (65.3)       (228.3)
    Items excluded from
     segment operations           (18.4)          (70.5)        (81.1)
    Income before income
     taxes, minority
     interest, equity
     earnings in
     affiliates and
     discontinued            -----------    ------------   -----------
     operations             $     540.0    $      494.5   $   2,031.9
                             ===========    ============   ===========



                        FIRST DATA CORPORATION
                   FINANCIAL TRANSACTION PROCESSING
                       HISTORICAL KEY INDICATORS
                              (Unaudited)
                             (in millions)

                 2004                        2005
               --------- ---------------------------------------------
                  FY        Q1       Q2       Q3       Q4       FY
               --------- ---------------------------------------------
Commercial
 Services
----------
 Domestic
  merchant
  trans-
   actions(a)  19,107.1  5,092.0  5,640.4  5,715.8  6,098.4  22,546.6

Financial
 Institution
 Services
------------
 Domestic
 active card
 accounts on
  file:(b)
   Bankcard        48.1     43.4     44.0     28.8     30.1      30.1
   Retail          51.6     56.6     57.1     58.3     61.8      61.8
               --------- ---------------------------------------------
    Total          99.7    100.0    101.1     87.1     91.9      91.9
               ========= =============================================

First Data
 International
--------------
 International
  card
  accounts on
  file:
   Bankcard        31.5     22.8     23.1     24.0     25.9      25.9
   Retail             -      3.9      4.1      4.9      5.0       5.0
               --------- ---------------------------------------------
    Total          31.5     26.7     27.2     28.9     30.9      30.9
               ========= =============================================

 International
  trans-
  actions(c)    1,850.7    518.1    568.4    667.8    919.8   2,674.1


(a) Domestic merchant transactions include acquired VISA and
    MasterCard credit and signature debit, PIN-debit, electronic
    benefits transactions ("EBT"), and processed-only or gateway
    customer transactions at the point of sale ("POS"). Domestic
    merchant transactions also include acquired ATM transactions,
    gateway transactions at ATMs, and STAR PIN-debit POS transactions
    received from other acquirers.

(b) Domestic active card accounts on file include customer accounts
    that had a balance or any monetary posting or authorization
    activity during the last month of the quarter.

(c) International transactions include VISA, MasterCard and other card
    association merchant acquiring and switching and debit issuer
    transactions for clients outside the U.S. Merchant transactions
    include credit, signature debit and PIN-debit POS, POS gateway and
    ATM transactions. Debit issuer transactions include signature and
    PIN-debit POS, POS gateway and ATM transactions.



                        FIRST DATA CORPORATION
                  RECONCILIATION OF NON-GAAP MEASURES
                              (Unaudited)
                             (in millions)

Management believes the following measures provide meaningful
information to assist investors and analysts in understanding our
financial results and to better analyze trends in our underlying
business. The non-GAAP financial measures should not be considered in
isolation or as a substitute for the most comparable GAAP financial
measures. The non-GAAP financial measures reflect an additional way of
viewing aspects of our operations that, when viewed with our GAAP
results and the reconciliation to the corresponding GAAP financial
measures, provide a more complete understanding of our business.
Investors are strongly encouraged to review our financial statements
and publicly-filed reports in their entirety and not to rely on any
single financial measure. A reconciliation of the non-GAAP measures to
the most directly comparable GAAP financial measures is included
below.


                                          Three Months Ended March 31,
                                          ----------------------------
                                             2006       2005    Change
                                           ---------  --------- ------
Commercial Services
-------------------
Revenue                                   $   934.4  $   855.0      9%
Reimbursable debit network fees              (179.5)    (141.8)
                                           ---------  ---------
Revenue excluding reimbursable debit
 network fees                             $   754.9  $   713.2      6%
                                           =========  =========

Operating profit                          $   214.4  $   173.4     24%
Integration expenses(1)                           -       23.4
                                           ---------  ---------
Operating profit excluding integration
 expenses                                 $   214.4  $   196.8      9%
                                           =========  =========

Profit margin                                  22.9%      20.3%
Profit margin excluding debit network
 fees and integration expenses                 28.4%      27.6%

Financial Institution Services
------------------------------
Revenue                                   $   445.2  $   470.6
Reimbursable postage and other               (152.8)    (153.4)
                                           ---------  ---------
Revenue excluding reimbursable postage
 and other                                $   292.4  $   317.2
                                           =========  =========

Operating profit                          $    84.3  $    87.6

Profit margin                                  18.9%      18.6%
Profit margin excluding reimbursable
 postage and other                             28.8%      27.6%

(1) Integration expenses relate to the cost of personnel who were
    assigned to work exclusively on the Concord integration or Company
    reorganization plus the allocation of a portion of the cost of
    certain Company personnel that were partially dedicated to such
    activities. Additionally, these expenses include certain internal
    and contract system development costs and infrastructure costs.