TransPoint Names Lewis Levin President and CEO

ENGLEWOOD, Colo., April 14, 1999 — TransPoint today announced the appointment of Lewis Levin, most recently vice president of Microsoft Corp.’s Desktop Finance Division, as its president and chief executive officer. TransPoint is the joint venture of Microsoft and First Data Corp., with Citibank as a minority equity investor.

“Levin’s appointment to this position clearly demonstrates our deep commitment to this important joint venture,”
said Steve Ballmer, president of Microsoft.
“Several Microsoft business units have grown and prospered under his guidance and vision, and we’re confident he’ll have the same impact on TransPoint.”

Levin led the Desktop Finance Division (DFD) beginning in 1996, with responsibility for Microsoft® Money, the MSN
Investor Web site (now the MoneyCentral
personal finance online service) and the MSN Personal Finance Channel. During his DFD tenure, Levin built a strong reputation and forged many key relationships in the financial services sector. In particular, he served as a key liaison between Microsoft and the banking community in optimizing Microsoft Money and other financial products for consumer usage. Levin also played a significant role in the development of TransPoint since its formation in June 1997.

Levin joined Microsoft in 1986 and has held a variety of positions within the company, including general manager of the Microsoft Excel Group, director of Applications Marketing and group product manager for the Graphics Business Unit. He successfully marketed many of Microsoft’s mass-market products, such as Microsoft Office applications, Word, the PowerPoint® presentation graphics program and Excel.

“With his experience, Levin possesses the extensive knowledge of personal finance technology and Web-based services needed to drive TransPoint and this industry,”
said Ric Duques, president and CEO of First Data.
“We wholly support his election to this post and are confident the joint venture will thrive under his leadership.”

“Lewis Levin has been a guiding force in bringing Microsoft, First Data and Citibank together and setting TransPoint’s strategic direction,”
said Ed Horowitz, executive officer of Citigroup and head of e-Citi.
“He is the natural leader for the joint venture, and we look forward to working with him to make TransPoint the most successful electronic bill payment and presentment engine in the market.”

Levin holds a bachelor’s degree from the University of Cincinnati and a master’s degree from MIT’s Sloan School of Management.

With the imminent launch of TransPoint
™e-Bills, this is a tremendously exciting time to take the helm of a company that is leading the pack in this burgeoning industry,”
Levin said.

TransPoint is currently in pilot programs with several financial institutions, including Banc One Corp., KeyBank, Wells Fargo Bank, Citibank, Mellon Bank Corp. and First Union Corp. Almost 40 major billers are also participating in pilot programs, including such household names as GTE Corp., BellSouth Corp., PECO Energy Co., J.C. Penney Company Inc., Mobil Oil Corp. and Xerox Corp. For a complete list of TransPoint partners and a demonstration of the service, users can visit .

About TransPoint

TransPoint is a joint venture of Microsoft and First Data, with Citibank as a minority equity investor. The company was formed in June 1997. In spring 1999, TransPoint is scheduled to introduce a completely new, seamlessly integrated Internet bill delivery and payment (IBDP) service. TransPoint is leading the emerging IBDP industry by building its service from the ground up instead of building new systems on top of old technology. TransPoint service will allow consumers to access and pay their bills through the branded home banking services of participating financial institutions and other consumer service providers. TransPoint is based in Englewood, Colo. For more information, visit .

TransPoint is an exclusive trademark of MSFDC LLC.
Microsoft, MSN, MoneyCentral and PowerPoint are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.

Other product and company names herein may be trademarks of their respective owners.

Note to editors: If you are interested in viewing additional information on Microsoft, please visit the Microsoft Web page at on Microsoft’s corporate information pages. If you are interested in viewing additional information on First Data, please visit the First Data Web page at .

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