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

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

                                           2007       2006     Change
                                         ---------- ---------- -------
Revenues:
Transaction and processing service fees:
   Merchant services                        $643.6     $594.1       8%
   Check services                             92.2       79.6      16%
   Card services                             443.6      391.4      13%
   Other services                             88.3       83.2       6%
Investment income, net                       (30.3)     (24.8)     NM
Product sales and other                      188.0      172.2       9%
Reimbursable debit network fees, postage
 and other                                   410.9      340.0      21%
                                         ---------- ----------
                                           1,836.3    1,635.7      12%
                                         ---------- ----------

Expenses:
Cost of services                             835.2      731.6      14%
Cost of products sold                         74.3       66.8      11%
Selling, general and administrative          302.2      270.3      12%
Reimbursable debit network fees, postage
 and other                                   410.9      340.0      21%
Other operating expenses:
   Restructuring, net                          2.0       (0.8)     NM
   Impairments                                16.3          -      NM
   Litigation and regulatory settlements         -       15.0      NM
   Other                                         -       (0.3)     NM
                                         ---------- ----------
                                           1,640.9    1,422.6      15%

                                         ---------- ----------
Operating profit                             195.4      213.1      -8%
                                         ---------- ----------

Other income (expense):
   Interest income                             8.0        2.9     176%
   Interest expense                          (34.5)     (57.6)    -40%
   Investment gains and (losses)              (1.4)     103.1      NM
   Divestitures, net                           1.0        5.8      NM
   Debt repayment gain                         1.4          -      NM
                                         ---------- ----------
                                             (25.5)      54.2      NM
                                         ---------- ----------

Income before income taxes, minority
 interest, equity earnings in affiliates
 and discontinued operations                 169.9      267.3     -36%

Income taxes (a)                              37.4       77.2     -52%

Minority interest                            (29.1)     (28.9)      1%
Equity earnings in affiliates                 68.3       58.5      17%

                                         ---------- ----------
Income from continuing operations            171.7      219.7     -22%

Income from discontinued operations, net
 of taxes of $(4.1) and $101.3,
 respectively (b)                              3.5      210.4      NM

                                         ---------- ----------
Net income                                  $175.2     $430.1     -59%
                                         ========== ==========

Earnings per share from continuing
 operations:
   Basic                                     $0.23      $0.29     -21%
   Diluted                                   $0.23      $0.28     -18%


Earnings per share:
   Basic                                     $0.23      $0.56     -59%
   Diluted                                   $0.23      $0.55     -58%


Weighted-average shares outstanding:
   Basic                                     752.3      765.5      -2%
   Diluted                                   761.8      780.2      -2%

Shares outstanding at end of period          754.4      765.6      -1%

(See accompanying notes)


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


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

                                           2007       2006     Change
                                         ---------- ---------- -------
Revenues:
--------------------------------------
  First Data Commercial Services          $1,018.8     $934.4       9%
  First Data Financial Institution
   Services                                  485.2      445.2       9%
  First Data International                   366.5      263.9      39%
  Integrated Payment Systems                  30.6       35.9     -15%
                                         ---------- ----------
        Subtotal segment revenues          1,901.1    1,679.4      13%
  All Other and Corporate                    110.6      119.8      -8%
                                         ---------- ----------
                                           2,011.7    1,799.2      12%
                                         ---------- ----------

  Adjustments for items included in
   segment and All Other and Corporate
   revenues: (c)
     Equity earnings in affiliates (d)       (77.0)     (65.5)     18%
     Interest income                          (8.0)      (2.9)    176%
     Eliminations (e)                        (90.4)     (95.1)     NM
                                         ---------- ----------
        Consolidated revenue              $1,836.3   $1,635.7      12%
                                         ========== ==========

Operating profit: (f)
--------------------------------------

  First Data Commercial Services            $225.1     $214.8       5%
  First Data Financial Institution
   Services                                   96.7       84.3      15%
  First Data International                    35.0       29.1      20%
  Integrated Payment Systems                   1.4        7.2      NM
                                         ---------- ----------
        Subtotal segment operating
         profit                              358.2      335.4       7%
  All Other and Corporate                    (36.9)     (16.1)    129%
                                         ---------- ----------
                                             321.3      319.3       1%
                                         ---------- ----------

  Adjustments for items included in
   segment and All Other and Corporate
   operating profit: (c)
     Equity earnings in affiliates           (68.3)     (58.5)     17%
     Minority interest from segment
      operations (g)                          29.4       28.9       2%
     Eliminations (e)                        (60.7)     (59.8)     NM
     Interest expense                        (34.5)     (57.6)    -40%
     Items excluded from segment
      operations (h)                         (17.3)      95.0      NM
                                         ---------- ----------
        Income before income taxes,
         minority interest, equity
         earnings in affiliates and
         discontinued operations            $169.9     $267.3     -36%
                                         ========== ==========

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

  First Data Commercial Services             $79.1      $77.7       2%
  First Data Financial Institution
   Services                                   38.9       38.6       1%
  First Data International                    50.0       42.1      19%
  Integrated Payment Systems                   2.0        4.0     -50%
  All Other and Corporate                     10.8       11.6      -7%
                                         ---------- ----------
  Consolidated depreciation &
   amortization                             $180.8     $174.0       4%
                                         ========== ==========

(See accompanying notes)


                        FIRST DATA CORPORATION
                     NOTES TO FINANCIAL SCHEDULES
                             (Unaudited)


(a)FDC's effective tax rate on pretax income from continuing
    operations was 17.9% and 25.9% for the three months ended March
    31, 2007, and March 31, 2006, respectively.
(b)Discontinued operations relate to NYCE, Western Union, Primary
    Payment Systems, IDLogix and Taxware.
(c)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.
(d)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.
(e)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.
(f)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 (h) below and interest expense.
(g)Minority interest from segment operations excludes minority
    interest attributable to items excluded from segment operations
    discussed in note (h) below as well as minority interest related
    to interest expense and income taxes.
(h)Items, other than interest expense, excluded from segment
    operations consist of the following:

   (in millions)      Three months ended
                         March 31, 2007
   --------------------------------------

   Restructuring, net              $(2.0) Restructuring charges of
                                           $2.8 million were recorded
                                           for the three months ended
                                           March 31, 2007, offset
                                           partially by reversals of
                                           excess restructuring
                                           accruals of $0.8 million.

   Impairments                     (16.3) The loss related to the
                                           impairment of goodwill and
                                           intangible assets
                                           associated with the
                                           Company's official check
                                           and money order business.

   Investment gains                 (1.4) Net investment losses
    and (losses)                           resulted from a loss on the
                                           sale of and the impairment
                                           of certain strategic
                                           investments. An additional
                                           loss resulted from the
                                           recognition of transition
                                           adjustment associated with
                                           the January 2001 adoption
                                           of Statement of Financial
                                           Accounting Standards No.
                                           133, "Accounting for
                                           Derivative Instruments and
                                           Hedging Activities" related
                                           to the Company's decision
                                           to wind-down the official
                                           check and money order
                                           business. Partially
                                           offsetting these losses
                                           were gains resulting from
                                           the sale of certain
                                           strategic investments.

   Divestitures, net                 1.0  Amount resulted from the
                                           release of an excess
                                           divestiture accrual due to
                                           the expiration of certain
                                           contingencies.

   Debt repayment gain               1.4  Gain resulting from the
                                           early repayment of long-
                                           term debt.
                      -------------------
                                   (17.3)
   Minority interest                   -
                      -------------------
                                  $(17.3)
                      ===================

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

   Restructuring, net               $0.8  Restructuring charges of
                                           $0.4 million were recorded
                                           for the three months ended
                                           March 31, 2006, offset by
                                           reversals of excess
                                           restructuring accruals of
                                           $1.2 million.

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

   Other                             0.3  Other related to the
                                           reversal of a portion of
                                           other charges recorded in
                                           2005.

   Investment gains                103.1  Net investment gains
    and (losses)                           resulted most significantly
                                           from $105.4 million in
                                           gains associated with the
                                           mark-to-market of interest
                                           rate swaps utilized in the
                                           Company's official check
                                           business that did not
                                           qualify for hedge
                                           accounting, partially
                                           offset by $2.5 million in
                                           realized losses associated
                                           with these same interest
                                           rate swaps.

   Divestitures, net                 5.8  Gains on the sale of certain
                                           assets were recorded during
                                           the three months ended
                                           March 31, 2006.
                      -------------------
                                    95.0
   Minority interest                   -
                      -------------------
                                   $95.0
                      ===================

NM = Not meaningful.


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


For the Three Months Ended March 31,       2007       2006     Change
---------------------------------------- ---------- ---------- -------

   Commercial Services
     Domestic merchant transactions (a)    6,521.0    5,795.8      13%

   Financial Institution Services
     Domestic debit issuer transactions
      (b)                                  2,459.0    2,074.5      19%

   First Data International
     International transactions (c)        1,245.0      988.1      26%

At March 31,
----------------------------------------

   Financial Institution Services
     Domestic active card accounts on
      file: (d)
           Bankcard                           43.2       30.3      43%
           Retail                             69.0       57.2      21%
                                         ---------- ----------
              Total                          112.2       87.5      28%
                                         ========== ==========

   First Data International
     International card accounts on
      file: (e)
           Bankcard                           39.0       22.9      70%
           Retail                             28.3        9.6     195%
                                         ---------- ----------
              Total                           67.3       32.5     107%
                                         ========== ==========


(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. Transactions for 2006 have been adjusted to
    conform to current year presentation.

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

(c)International transactions include VISA, MasterCard and other card
    association merchant acquiring and switching and debit issuer
    transactions for clients outside the U.S. Transactions include
    credit, signature debit and PIN-debit POS, POS gateway and ATM
    transactions. Transactions for 2006 have been adjusted to conform
    to current year presentation.

(d)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.

(e)International card accounts on file at March 31, 2006 have been
    adjusted to reflect a reclassification of accounts from bankcard
    to retail.


                        FIRST DATA CORPORATION
                         SUPPLEMENTAL METRICS
                             (Unaudited)


For the Three Months Ended March 31,                             2007
-------------------------------------------------------      ---------

  Consolidated financial metrics (in millions):
    Capital expenditures                                          $98
    Dividends                                                     $23

  Financial Institution Services
    Revenue growth:
      Card Processing                                               1%
      Output Services                                               4%
      Debit                                                         7%
      Postage                                                      13%
      Remitco                                                      10%

At March 31,
-------------------------------------------------------

  Financial Institution Services
    Domestic card accounts on file (in millions):
      Bankcard                                                  120.2
      Retail                                                    337.1
      Debit                                                     115.2
                                                             ---------
        Total                                                   572.5
                                                             =========

  First Data International
    International card accounts on file (in millions):
      Bankcard                                                   39.0
      Retail                                                     28.3
      Debit                                                      23.9
                                                             ---------
        Total                                                    91.2
                                                             =========


                        FIRST DATA CORPORATION
                 RECONCILIATION OF NON-GAAP MEASURES
                             (Unaudited)
               (in millions, except per share amounts)

Management believes the following non-GAAP measures provide meaningful
 supplemental information to assist investors and analysts in
 understanding our financial results and to better analyze trends in
 our underlying business. Management uses these measures to evaluate
 the operating performance of the Company and its segments. Since
 management finds these measures useful, we believe that our investors
 will benefit from seeing the Company's results through the eyes of
 management in addition to seeing our GAAP results.

The Company's non-GAAP EPS measure excludes certain items that
 represent fluctuations that may not be indicative of the Company's
 future operating performance and may obscure underlying trends in the
 business, such as impairments, changes in derivative values related
 to the previously announced SFAS 133 restatement, litigation and
 regulatory settlements, divestitures and other charges. Non-GAAP
 measures for the Company's domestic segments exclude the current year
 buyout of a revenue sharing agreement for comparative purposes and
 exclude revenue earned from reimbursements of pass-through costs such
 as debit network fees and postage. Non-GAAP measures for the
 Company's international segment exclude acquisitions less than a year
 old, divestitures and foreign exchange impact from revenue.
 Management believes that these non-GAAP measures provide insight into
 the Company's core performance.

These 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,
                                         -----------------------------
                                           2007       2006     Change
                                         ---------- ---------- -------
Earnings per share from continuing
 operations                                  $0.23      $0.28
Impairments                                   0.01          -
Changes in derivative values related to
 SFAS 133 (non-cash)                             -      (0.09)
Litigation and regulatory settlements            -       0.01
Divestitures                                     -          -
Other charges                                    -          -
                                         ---------- ----------
Earnings per share from continuing
 operations excluding items                  $0.24      $0.20      20%
                                         ========== ==========


                                          Three Months Ended
                                             March 31, 2007
                                         ---------------------
Operating cash flow from continuing
 operations                                  $ 440
Working capital, non-cash and non-
 operating items                               (87)
Capital expenditures                           (98)
Dividends                                      (23)
                                         ----------
Free cash flow                                $232
                                         ==========


                                         Three Months Ended March 31,
                                         -----------------------------
                                           2007       2006     Change
                                         ---------- ---------- -------
Commercial Services
----------------------------------------
Revenue                                   $1,018.8     $934.4       9%
Reimbursable debit network fees             (224.9)    (179.5)
                                         ---------- ----------
Revenue excluding reimbursable debit
 network fees                               $793.9     $754.9       5%
                                         ========== ==========

Operating profit                            $225.1     $214.8       5%
Discover buyout (1)                            9.6          -
                                         ---------- ----------
Operating profit excluding Discover
 buyout                                     $234.7     $214.8       9%
                                         ========== ==========

Profit margin                                 22.1%      23.0%
Profit margin excluding reimbursable
 debit network fees and Discover buyout       29.6%      28.5%

(1) The buyout of the Discover Financial Services revenue sharing
 agreement resulted in a first quarter expense charge for the purchase
 price.


                        FIRST DATA CORPORATION
                 RECONCILIATION OF NON-GAAP MEASURES
                             (Unaudited)
               (in millions, except per share amounts)


                                         Three Months Ended March 31,
                                         -----------------------------
                                           2007       2006     Change
                                         ---------- ---------- -------
Financial Institution Services
----------------------------------------
Revenue                                     $485.2     $445.2       9%
Reimbursable postage and other              (173.3)    (152.8)
                                         ---------- ----------
Revenue excluding reimbursable postage
 and other                                  $311.9     $292.4       7%
                                         ========== ==========

Operating profit                             $96.7      $84.3      15%

Profit margin                                 19.9%      18.9%
Profit margin excluding reimbursable
 postage and other                            31.0%      28.8%

First Data International
----------------------------------------
Revenue                                     $366.5     $263.9      39%
Acquisitions less than a year old            (59.7)         -
Divestitures                                  (0.5)      (1.2)
Foreign exchange impact (2)                  (20.1)         -
                                         ---------- ----------
Organic revenue on a constant currency
 basis                                      $286.2     $262.7       9%
                                         ========== ==========

(2) Foreign exchange impact represents the difference between actual
 2007 revenue and 2007 revenue calculated using 2006 exchange rates.