Joseph Saunders Named Executive Chairman of Visa Inc.'s Board of Directors

Geschrieben am 12-02-2007

San Francisco (ots/PRNewswire) -

Visa announced today that Joseph W. Saunders has been named
Executive Chairman of the Board of Directors of Visa Inc. In this
position, Saunders will be responsible for leading Visa's transition
to a global public company. He also will help recruit a chief
executive officer and board members for Visa Inc.

Initially, Saunders will begin fulfilling the responsibilities of
this position as a designated appointee of Visa Inc. and will
officially assume the title of Executive Chairman of the Board once
Visa Inc. is formed later this year. Pending member and regulatory
approval, Visa Inc. will be created through a series of mergers
involving Visa Canada, Visa USA and Visa International.

"Joe will play a critically important role at Visa during our
transition, using his experience as a leader at public companies in
the payments industry to help us create a world-class organization
that is well positioned for growth," said William I. Campbell,
chairman of the Visa International's Board of Directors. "His strong
reputation and contacts within the business community will enhance
our ability to attract top-tier talent to lead Visa Inc."

"This is an exciting time in Visa's history and I am very proud to
join the team leading the company through this transition," said
Saunders. "I look forward to using my industry knowledge and my
experience helping companies with significant integration and
restructuring projects to contribute to Visa's continued success."

Visa's boards of directors unanimously approved Saunders'
appointment to this position based on his vast industry experience
and his role as a member of the boards of directors for Visa USA and
Visa International. Based in San Francisco, he will report directly
to Visa Inc.'s Transition Governance Committee, which has governance
authority over the restructuring process and is comprised of
representatives from all of the Visa regions, Inovant and Visa
International. As a result of his appointment to this position,
Saunders relinquished his role on other Visa Boards. He will serve as
chairman or lead director of Visa Inc.'s board of directors through
its eventual initial public offering.

Campbell said, "The depth and variety of Joe's experience will
allow him to provide valuable input to the governance, structure and
organization of Visa Inc. as we prepare to eventually become a public
company. His experience and insight will be particularly valuable to
such important tasks as developing Visa Inc.'s board of directors,
organizational structure and corporate policies."

Saunders' career in financial services spans more than 30 years.
Most recently, he served as president of card services for Washington
Mutual, having joined the company following its acquisition of
Providian Financial in 2005. Saunders joined Providian Financial in
2001 as president and chief executive officer, and was elected
chairman of its board of directors in 2002. From 1997 to 2001, he
served as chairman and chief executive officer of Fleet Credit Card
Services at FleetBoston Financial Corporation.

Prior to joining FleetBoston, Saunders spent twelve years at
Household International, where he held various senior roles,
including chief executive of card services and head of the private
label credit card business. While at Household, he also served as a
member of MasterCard International's board of directors from 1993 to
1997 and served one term as chairman of that board in 1996.

Saunders received a Bachelor of Science degree and a Master of
Business Administration, both from the University of Denver.

About Visa: Visa connects cardholders, merchants and financial
institutions through the world's largest electronic payments network.
Visa products allow buyers and sellers to conduct commerce with ease
and confidence in both the physical and virtual worlds. Visa is
committed to the sustained growth of electronic payment systems to
support the needs of all stakeholders and to drive economic growth.

Visa products currently generate more than US$4 trillion in sales
volume worldwide. Visa has acceptance at more than 24 million
locations worldwide including one million ATMs. For more information,
visit http://www.corporate.visa.com.

This press release is not intended, and should not be construed,
as an offer to sell, or as a solicitation of an offer to purchase,
any securities. A consent will be made only by means of a consent
solicitation statement/prospectus, which you should read carefully
when it becomes available.

This press release contains forward-looking statements. These
statements may be identified by the use of words such as "will,"
"believes," "anticipates," "intends," "estimates," "expects,"
"projects," "plans" or similar expressions. Such forward-looking
statements include, without limitation, statements about the proposed
restructuring and related transactions, strategy, future operations,
prospects, plans and objectives of management and events or
developments that we expect or anticipate will occur. The
forward-looking statements reflect Visa's current views and
assumptions and are subject to risks and uncertainties, which may
cause actual and future results and trends to differ materially from
the forward-looking statements, including but not limited to ability
to obtain approval by Visa's members for the proposed restructuring
and related transactions; successful completion of the restructuring
and related transactions; the outcome of legal proceedings;
uncertainties inherent in operating internationally; and the impact
of law and regulations. Many of these factors are beyond Visa's
ability to control or predict. Given these factors, you should not
place undue reliance on the forward-looking statements.

Paul Cohen
Office: +1-415-932-2166
Mobile: + 1-415-370-2286

Web site: http://www.corporate.visa.com

ots Originaltext: Visa International
Im Internet recherchierbar: http://www.presseportal.de

Paul Cohen, Office: +1-415-932-2166, Mobile: +1-415-370-2286,


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