First Data Announces Filing of Form 10 for Western Union Spin-Off

First Data Corp. (NYSE: FDC) today announced thatWestern Union has filed a registration statement, or Form 10, with theSecurities and Exchange Commission in connection with the plannedspin-off by First Data of the Western Union business. The company alsoannounced today that on May 12, 2006, First Data requested a favorabletax ruling from the United States Internal Revenue Service withrespect to the spin-off. Both the filing of the Form 10 and the filingof the ruling request with the IRS are major milestones in thecompany's preparation for the planned spin-off of Western Union.

"We have been diligently preparing for the spin-off over the pastfew months and are very pleased with the progress we have made todate. We remain squarely on track to meet our stated goal ofcompleting the spin-off in the fourth quarter of 2006," said RicDuques, chairman and chief executive officer of First Data. "Thefiling of the Form 10 is a key accomplishment in the process as itprovides a first look at Western Union as a standalone company."

Duques added, "It is a testament to our employees that we wereable to file the Form 10 with the SEC and request an IRS ruling insuch a timely manner, and I want to thank them for their continueddedication and hard work."

The company indicated that until the Form 10 is declared effectiveby the Securities and Exchange Commission it will not respond tospecific questions or make comments regarding the spin-off of WesternUnion beyond the information contained in the Form 10.

A copy of the Form 10 has been made available on the company'swebsite at www.firstdata.com/invest.

About First Data

First Data Corp. (NYSE: FDC) is a leading provider of electroniccommerce and payment solutions for businesses and consumers worldwide.Serving 4.6 million merchant locations, 1,600 card issuers andmillions of consumers, First Data powers the global economy by makingit easy, fast and secure for people and businesses around the world tobuy goods and services using virtually any form of payment. Thecompany's portfolio of services and solutions includes credit, debit,private-label, smart and stored-value card issuing and merchanttransaction processing services; money transfer services; moneyorders; fraud protection and authentication solutions; check guaranteeand verification services through TeleCheck; as well as Internetcommerce and mobile solutions. Western Union, Vigo and Orlandi Valutatogether make up one of the world's largest money transfer networkswith over 270,000 Agent locations in more than 200 countries andterritories. The company's STAR Network offers PIN-secured debitacceptance at 1.9 million ATM and retail locations. For moreinformation, visit www.firstdata.com.

Notice to Investors, Prospective Investors and the InvestmentCommunity; Cautionary Information Regarding Forward-Looking Statements

Statements in this press release regarding First DataCorporation's business which are not historical facts, including theprojected date to complete the spin-off, are "forward-lookingstatements." All forward-looking statements are inherently uncertainas they are based on various expectations and assumptions concerningfuture events and they are subject to numerous known and unknown risksand uncertainties which could cause actual events or results to differmaterially from those projected. Important factors upon which theCompany's forward-looking statements are premised include no delay inthe Securities and Exchange Commission providing comments on the Form10 and declaring it effective and no unanticipated developments ordelay in receiving the Internal Revenue Service ruling that woulddelay or negatively impact the planned spin-off.

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