Hancock Enhances Bank Card Services With MBNA Partnership

Business Wire, March 15, 2000

Business Editors

GULFPORT, Miss.--(BUSINESS WIRE)--March 15, 2000

Hancock Bank President George A. Schloegel announced today that the company will enhance customer credit card services by outsourcing Hancock consumer credit card business to MBNA Corporation, the largest independent credit card lender in the world.

Under the agent bank agreement with MBNA, Hancock will offer customers credit card products through MBNA. Additionally, MBNA will purchase approximately $20 million in consumer credit card receivables from Hancock Bank. Subject to regulatory approval, Hancock and MBNA executives expect the sale to close and outsourcing arrangements to begin sometime near the end of the second quarter.

"We're joining with the leading independent credit card provider in the world to bring Hancock customers the best possible bank card services. MBNA has an outstanding reputation that parallels Hancock's century-old commitment to exceptional customer service. The sale will improve Hancock's overall credit quality and frees capital to use in developing initiatives that create added value for our stockholders and customers," said Schloegel.

Hancock retains its merchant services division to provide business customers services and support in processing credit card transactions. MBNA will market credit cards directly to Hancock Bank customers, notify current customers of any changes in account status and will reissue existing cards with Hancock's corporate logo.

"We're excited about our new relationship with MBNA. In the coming months, we'll partner our efforts to ensure a smooth transition for our credit card customers," emphasized Hancock Bank Executive Vice President James Ginn.

The Wilmington, DE, based parent company of MBNA America, N.A., MBNA Corporation (NYSE:KRB) manages has over $72.3 billion in managed loans.

Hancock Holding Company (NASDAQ/NMS:HBHC) is the parent company of Hancock Bank (Mississippi) and Hancock Bank of Louisiana and has assets of approximately $3 billion. With 94 full-service offices and 103 automated teller machines throughout South Mississippi and Louisiana, Hancock Bank stands as one of the strongest, safest financial institutions in the United States, according to Veribanc, Inc. Bauer Financial Reports, Inc., also awarded Hancock Bank five-stars -- the highest rating possible -- for 19 consecutive quarters. Bank subsidiaries include Hancock Investment Services, Inc., Hancock Insurance Agency, Hancock Mortgage Corporation and Harrison Finance Company.

Readers can learn more about MBNA at www.mbna.com and about Hancock Bank at www.hancockbank.com.