NOVA Cuts Deal to Provide Merchant Payment Services to Regis Corporation

Business Wire, Jan 23, 2002

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Jan. 23, 2002

NOVA Information Systems announced today that it signed a multi-year agreement with Regis Corporation to provide merchant processing services for its corporate store locations in the United States.

NOVA -- one of the country's largest merchant payment processors -- will begin implementation of its merchant-processing contract, valued at $256 million in charge volume, with Minneapolis-based Regis in Jan. 2002. Utilizing NOVA's merchant-processing services will allow Regis -- the world's largest owner, operator, franchiser and consolidator of hair and retail product salons -- to save time and money associated with processing credit cards in its salons.

"Regis is very excited about expanding our relationship with NOVA," said Kyle P. Didier, vice president finance at Regis Corporation. "During the past several years, credit card usage in our salons has continued to grow as a percentage of our overall business and so have the costs associated with accepting credits. Our partnership with NOVA will help us better manage and mitigate future costs associated with credit card acceptance."

"We are thrilled to provide Regis with the best possible merchant payment services available today," said Pamela Joseph, senior executive vice president at NOVA. "We look forward to providing Regis with the industry-leading banking services that will help the company better serve its clientele."

Regis Corporation (NASDAQ:RGIS), based in Minneapolis, is the largest owner, operator, franchiser and acquirer of hair and retail product salons in the world. Regis operates and franchises nearly 7,400 salons in six divisions: Regis Salons, Strip Center Salons (primarily Supercuts and Cost Cutters), MasterCuts, Trade Secret, WalMart/SmartStyle Family Hair Salons, and International, and has 41,000 employees worldwide.

Atlanta-based NOVA Information Systems manages and transports payment and other business information on behalf of retailers, community banks and regional financial institutions. NOVA specializes in providing integrated credit and debit card payment processing services, related software application products and value-added services to more than 650,000 merchant locations in the United States. For more information on the company, visit www.NOVAinfo.com.