Strong Growth Across All Businesses, Equifax Reports For First Quarter

ATLANTA, April 16, 1998 -- Equifax today announced excellent first quarter results driven by continued double digit revenue growth, operating leverage and strong performance across all four operating groups.

• Revenue for the quarter ending March 31, 1998, of $353.1 million increased 13.1% over first quarter 1997.
• Operating income from continuing operations of $81.0 million increased 18.2% compared to the prior year period.
• First quarter earnings per share from continuing operations (diluted) rose 19.2% to $0.31 from $0.26 in the first quarter of 1997.

"Our first quarter results demonstrate continued growth with particularly strong performances in Europe and Latin America. Strategic alliances, acquisitions and marketing partnerships are expanding the reach and breadth of our products and services, worldwide," said Thomas F. Chapman, president and CEO. "Every operating group showed revenue and operating income growth, continued operating leverage and margin improvement. Operating income margin increased to 23% from 22%."

During the quarter, Equifax repurchased 1.9 million shares for $63.3 million. As of March 31, approximately $160 million remained available for repurchase.

BUSINESS RESULTS

For the quarter, revenue in North American Information Services of $181.4 million increased 5.3% versus first quarter last year and 10.6% when normalized for the prior year NDS divestiture. Revenue performance benefited from growth in information services, with increased demand from the banking, finance and telecommunications and utilities industries as well as growth in risk management and mortgage services. Operating income of $61.9 million increased 9.1% versus first quarter 1997.

Payment Services revenue of $107.1 million increased 8.4% led by growth in Card Services. Operating income of $19.3 million increased 20% primarily as a result of the substantial operating leverage from the integration of the CSG acquisition.

Equifax Europe revenue of $46.4 million increased 20.3% versus first quarter 1997, with improvement across all businesses, particularly Motor Solutions and Financial Solutions. Operating income of $3.1 million increased 56%.

Revenue in Equifax Latin America was $15.7 million as a result of the April 1, 1997 acquisition of DICOM in Chile and the year end acquisition of an additional one-third interest of Veraz in Argentina. Operating income was $4.2 million in the first quarter of 1998 versus $ .5 million one year ago. Equifax's presence in Latin America has increased substantially in the past year as it continues to look for additional growth opportunities in this dynamic market.

Equifax's worldwide knowledge-based information, transaction processing, consulting and software businesses are designed to bring buyers and sellers together, thus changing the shape of global commerce. Equifax serves the banking, financial, retail, credit card, telecommunications/utilities, automotive, government and health care industries. It is a leading supplier of business information solutions in Canada, the UK and Latin America. Equifax operates in 17 countries with sales in more than 40 countries. Founded in 1899 in Atlanta, Equifax (NYSE: EFX) today has 10,000 employees around the world. Revenues for the 12 months ended March 31, 1998, totaled more than $1.4 billion. Visit the company's Internet web site at http://www.equifax.com.