Fidelity National Information Services, Inc. (NYSE: FIS), a leading provider of technology services to financial institutions around the world, Banco Bradesco S.A., the largest private bank in Brazil, and Banco ABN AMRO Real today announced the signing of a definitive agreement to form a joint venture company to provide comprehensive, fully outsourced credit and prepaid card processing services to Brazilian card issuers. This partnership also includes processing and services for Visa Vale, a leading provider of prepaid meal vouchers to the Brazilian market. This joint venture will position Fidelity as the leading third-party card processor in Brazil.

The joint venture is expected to generate revenue of approximately U.S. $2.0 billion over the next 12 years. Once the card portfolios are fully converted, profit margins are expected to be consistent with overall company margins.

The new company, which will be named Fidelity Processadora e Servicos S.A., will provide Brazil's most comprehensive range of card processing and support services, including call center management, back office support, card transaction processing, risk management and collection services.

Fidelity expects to convert all card portfolios over the next 24 months. Once the conversions are completed, Fidelity will process over 20 million cards in Brazil, and over 63 million cards worldwide, based on the existing card base.

"This joint venture will fundamentally change the way cards are processed in Brazil," said Lee A. Kennedy, president and chief executive officer of Fidelity. "We are pleased to have been selected as the technology and support services partner."

"We are committed to providing the most competitive range of card processing services available in the Brazilian marketplace, with the highest level of service possible," said Reginaldo Zero, chief executive officer for Fidelity in Brazil.

"Working together with Fidelity and the other partners in this joint venture, we anticipate a significant improvement in the time to market and product availability, which will enable us to become more competitive," said Arnaldo Vieira, executive vice-president of Banco Bradesco.

"When the conversion is complete, this joint venture company will be the largest third-party card processor in Brazil," said Marcos Matioli, executive director of Banco ABN AMRO Real. "We are impacting the market and look forward to the benefits we will achieve, and can pass on to our customers."

About Fidelity National Information Services, Inc.

Fidelity National Information Services, Inc. (NYSE: FIS) is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top ten. Nearly 50 percent of all U.S. residential mortgages are processed using FIS software. Headquartered in Jacksonville, Florida, FIS maintains a strong global presence, serving over 7,800 financial institutions in more than 60 countries worldwide. For more information on Fidelity National Information Services, please visit http://www.fidelityinfoservices.com. Fidelity National Financial Inc. (NYSE: FNF), number 261 on the Fortune 500, owns a controlling interest in FIS. For more information on FNF, please visit http://www.fnf.com.

About Banco Bradesco

Banco Bradesco (NYSE: BBD) is the leading private sector bank in Brazil in terms of total net worth. Banco Bradesco provides a wide range of banking and financial products and services in Brazil and abroad to individuals, small to mid-sized companies and major local and international corporations and institutions. As of June 30, 2005, Banco Bradesco operated 2,917 branches and 22,247 automated teller machines. The bank was founded in 1943 as Banco Brasileiro de Descontos S.A. and changed its name to Banco Bradesco S.A. in 1988. Banco Bradesco is headquartered in Osasco, Brazil.

About Banco ABN AMRO Real

Netherlands-based ABN AMRO is a leading international bank with total assets of EUR 880.8 billion (as at 31 December 2005). It has over 3,500 branches in more than 60 countries and territories, and has a staff of about 97,000 full-time equivalents worldwide. ABN AMRO is listed on Euronext and the New York Stock Exchange.

Banco Real is the 4th largest Brazilian private retail bank, operating though 1,900 branches and mini-branches and serving more than 12 million clients. As of December 2005, Banco Real managed over BRL46 billion in credit assets (including guarantees) and BRL78 billion in client savings.

Fidelity National Information Services, Inc. ("FIS")

Supplemental Information

March 28, 2006

1. What is the ownership structure of the new joint venture company,

Fidelity Processadora e Servicos S.A.?

FIS will hold a 51% majority ownership position. The remaining 49%

will be owned by Banco Bradesco S.A. and Banco ABN AMRO Real.

2. What is the conversion schedule?

We expect to begin the call center conversion in the fourth quarter of

2006. The card portfolio conversions are expected to be completed by

the end of 2008.

3. How will revenue and operating profit be accounted for?

As the majority owner, FIS will consolidate the joint venture revenues,

and will report minority interest as a separate line item.

4. What are the anticipated revenues?

Revenues over the 12-year contract term total are expected to total

approximately $2.0 billion. The periodic revenue streams will

ultimately be determined by the timing of the call center and portfolio

conversions. The annual run rate revenue (assuming completion of the

existing card portfolio conversions by year-end 2008) is expected to be

in excess of $125 million. Based on the current conversion schedule, we

anticipate that the joint venture will contribute minimal revenue in

2006. In 2007, we expect the joint venture to contribute revenue

growth approximating one-half of one percent to one percent.

5. What is the anticipated profitability?

In 2006, FIS expects to incur after-tax expenses of approximately $0.06

per diluted share related to the establishment of the joint venture.

FIS expects the joint venture to be neutral to diluted earnings per

share in 2007 and accretive to diluted earnings per share beginning in

2008. Once the card portfolios are fully converted, profit margins are

expected to be consistent with overall company margins.

6. How much capital does FIS expect to contribute?

FIS will make investments of approximately $100 million through 2008

(including approximately $25 million in 2006), and will transfer

ownership of its existing Brazilian card operation to the new joint

venture.

Forward Looking Statements

This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions in the United States and in foreign markets, including changes in the financial markets; the risk that our recent merger with a subsidiary of Fidelity National Financial, Inc. may fail to achieve beneficial synergies or that it may take longer than expected to do so; the effects of our substantial leverage, which may limit the funds available to make acquisitions and invest in our business; the risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in the banking, retail and financial services industries; failures to adapt our services to changes in technology or in the marketplace; adverse changes in the level of real estate activity, which would adversely affect certain of our businesses; our potential inability to find suitable acquisition candidates or difficulties in integrating acquisitions; significant competition that our operating subsidiaries face; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.

Source: prnewswire