Mexican Credit System Launched By Equifax

ATLANTA and MONTERREY, Mexico, October 21, 1996 -- Equifax has opened its consumer credit information operation in Mexico, launching a technologically sophisticated information system to support the growing Mexican economy while injecting competition into the nascent credit industry.

The new operation, based in Monterrey, will be supported by an operating system tailored for the Latin market by DICOM S.A., Chile’s leading information services company and Equifax’s partner. System operations are expected to be outsourced. Equifax is a 50 percent owner of DICOM and DICOM plans to join Equifax as a shareholder in the new Equifax de Mexico S.A.

The Mexican Ministry of Finance and Public Credit issued an authorization to Equifax in October 1995 to establish a consumer credit information system.

"The start-up of our Mexican operation demonstrates anew our commitment to serve as a global information source," said Thomas F. Chapman, Equifax executive vice president. "Mexico is a key trading partner of the United States and has stabilized its economy, setting the stage for consumer growth."

Equifax de Mexico S.A., headquartered in Monterrey and with a sales office in Mexico City, plans to serve all of Mexico with a national database. Its consumer credit system will be an on-line system that complies with all applicable Mexican laws while offering access to banks, retailers and businesses with a legitimate need to review a consumer’s credit history. Such on-line computer capability has long been a fixture of the U.S. consumer credit economy, making it possible for Americans to tap their credi t lines or obtain new credit instantly, no matter where they travel in the country.

Equifax’s decision to apply for and then to build a credit system in Mexico was prompted in part by the growing number of U.S.-based customers of Equifax that have expanded into Mexico and wish to extend credit to Mexican consumers.

The new credit information system in Mexico is part of Equifax Latin America, which is headed by Bill Phinney, Equifax vice president and area manager.

Equifax Inc. (NYSE:EFX), through its Financial Services Group, is the world’s leading provider of information solutions that help grant credit and authorize and process credit card and check transactions. Established in 1899 in Atlanta, Equifax posted revenues for the 12 months ended September 30, 1996, exceeding $1.7 billion.