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MasterCard Confirms Agreement in Principle to Settle the Discover Action

PURCHASE, N.Y., Oct. 14 /PRNewswire-FirstCall/ -- MasterCard Incorporated today confirmed that it has reached an agreement in principle to settle its outstanding litigation with Discover Financial Services Inc. The parties are working on settlement documentation. Details of the terms of the settlement will follow.

About MasterCard Incorporated

MasterCard Incorporated advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard(R), Maestro(R) and Cirrus(R), MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.

Forward-Looking Statements

Statements in this press release which are not historical facts, including statements about MasterCard's plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made. Accordingly, except for the company's ongoing obligations under the United States federal securities laws, the company does not intend to update or otherwise revise the forward-looking information to reflect actual results of operations, changes in general economic or industry conditions, changes in financial condition, changes in estimates, expectations or assumptions or other circumstances arising and/or existing since the preparation of this press release or to reflect the occurrence of any unanticipated events.

Contacts:

For Media: Sharon Gamsin, 914-249-5622, sgamsin@mastercard.com

For Investors: Barbara Gasper,914-249-4565, investor_relations@mastercard.com

SOURCE MasterCard Incorporated