Hans Morris Named President of Visa Inc.



    SAN FRANCISCO, June 26 /CNW/ -- Visa announced today that Hans Morris has
been appointed President of Visa Inc., effective September 1, 2007. Morris
fills this newly created post following a distinguished career at Citi that
spanned 27 years.
    The organization will officially begin conducting business as Visa Inc.
following a series of mergers involving Visa Canada, Visa USA and Visa
International.  Visa Europe will retain its member-owned association structure
and will become a licensee of Visa Inc.
    As President of Visa Inc., Morris will have responsibility for all of the
company's income-generating businesses.  He will oversee the management of
Visa Inc.'s global and local relationships with key stakeholders, including
card issuers, merchants, merchant acquirers and third-party processors.  In
addition, Morris will have global responsibility for Visa's marketing
organization, including managing the Visa brand, one of the most recognized
consumer brands in the world and the most recognized global financial services
brand.  All Visa Inc. regional client services organizations and regional
presidents will report to Morris, as will the company's global Chief Marketing
Officer.  He will be based in San Francisco and report directly to Visa Inc.'s
Chairman and Chief Executive Officer, Joseph W. Saunders.
    Morris, 48, is currently Chief Financial Officer of Citi Markets &
Banking, a post he assumed in November 2002.  Citi Markets & Banking
encompasses the global capital markets, investment banking, corporate banking
and corporate transaction services businesses.
    As Chief Financial Officer, Morris leads the firm's finance, technology
and operations divisions.  His responsibilities include managing a
multibillion-dollar annual budget and a staff of 14,000 in more than 100
countries.  During his career with Citi he held numerous leadership positions,
including Vice Chairman, Chief Operating Officer and Head of Client Management
at the Investment Banking division of Salomon Smith Barney.
    Joe Saunders cited Morris' deep experience working in the payments
business as an investment banker, proven ability in leading high-performing
global businesses and strong global reporting company experience as key
factors leading to his selection.
    Morris joined Citi in 1980, after receiving his Bachelor of Arts degree
from Dartmouth College.  Currently residing in New York City, Morris will be
relocating to San Francisco with his wife, college-aged son and high school-
aged daughter.
    Visa also announced today that John Philip Coghlan, President and Chief
Executive Officer, Visa USA, has resigned.  Coghlan led the U.S. region of
Visa since July 2005.  During that time he oversaw efforts to prepare Visa USA
for its restructuring, undertaking a series of initiatives to enhance Visa's
financial performance and reporting.  John Partridge, President of Inovant
LLC, will assume the expanded responsibilities of interim President of Visa
USA.

    About Visa:  Visa operates the world's largest retail electronic payments
network providing processing services and payment product platforms. This
includes consumer credit, debit, prepaid and commercial payments, which are
offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys
unsurpassed acceptance around the world and Visa/PLUS is one of the world's
largest global ATM networks, offering cash access in local currency in more
than 170 countries.  For more information, visit
http://www.corporate.visa.com.

    Additional Information and Where You Can Find It:  This communication is
being made in respect of the proposed restructuring. In connection with the
proposed restructuring, Visa has filed and will be filing documents regarding
the proposed transaction with the SEC, including a registration statement on
Form S-4 containing a proxy statement-prospectus. We urge members to read the
registration statement, the definitive proxy statement-prospectus regarding
the proposed restructuring and any other relevant documents carefully and in
their entirety when they become available because they will contain important
information about the proposed restructuring. The definitive proxy statement-
prospectus will be mailed to voting members of Visa International, Visa USA
and Visa Canada. You may obtain copies of any of these documents filed with
the SEC that contain information about the proposed restructuring free of
charge at the Web site maintained by the SEC at http://www.sec.gov or from
Visa Inc., Investor Relations, at P.O. Box 8999, San Francisco, California
94128-8999.

    
    Forward-Looking Statements:
    
    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.

    
    Contact:    Paul Cohen
    Office:     +1 415 932 2166

    Visa Media Hotline:  +1 415 932 2564

    




For further information:

For further information: Paul Cohen for Visa, +1-415-932-2166, or Visa 
Media Hotline, +1-415-932-2564 Web Site: http://www.corporate.visa.com

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