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VF Outlet Streamlines Check Processing with NOVA's Electronic Check Service

ATLANTA--(BUSINESS WIRE)--Feb. 14, 2005--

73 Store Chain Consolidates Credit and Check Processing
for Improved Cash Flow and Enhanced Customer Service

NOVA Information Systems (NOVA) today announced a commitment from VF Corporation, the world's largest apparel company, to implement NOVA's Electronic Check Service (ECS) processing throughout its 73 VF Outlet stores. Checks accepted at VF Outlet's stores will be converted at the point of sale to electronic check transactions, utilizing the Visa POS Check Service. This will allow VF Outlet to consolidate all of their payment processing and support services through one provider. VF Outlet has processed credit card transactions with NOVA since 1998.

"We selected Electronic Check Service based on our experience with NOVA, the flexibility and robustness of their check product, and their continued commitment to our business," said Nicholas Karetas, controller, VF Outlet. "Adding check services to our credit card processing relationship eliminates the confusion associated with supporting separate credit and check systems from multiple vendors."

"NOVA built a business on the foundation of outstanding products and unsurpassed customer responsiveness," said Pamela Joseph, chairman, CEO and president, NOVA Information Systems. "We are delighted that VF Outlet turned to us for electronic check processing and we look forward to a continued relationship with them."

"Visa believes the Nova Electronic Check Service will provide tremendous value to VF Outlet by not only converting paper checks into electronic transactions, but by using the Visa network to provide the opportunity to connect with the consumer's checking account for an authorization before the customer has left the point-of-sale," said Dante Terrana, director, business development, Visa USA. "In this manner, the Nova Electronic Check Service provides reduced risk exposure to VF Outlet where a consumer account may no longer exist or may not be in good standing."

NOVA's Electronic Check Service converts paper checks into electronic transactions at the point of sale. Merchants realize faster access to funds, reduced risk, and reduced costs. Unlike one-size-fits-all providers, NOVA offers flexible service levels, including conversion-only, verification, collections and guarantee. Additionally, because the NOVA Network supports credit, debit, electronic gift cards, and electronic checks, payment information is consolidated on reports and statements, and merchants have one reliable source for all customer support needs.

About VF Corporation

VF Corporation is a leader in branded apparel including jeanswear, intimate apparel, sportswear, outdoor products and workwear. Its principal brands include Lee(R), Wrangler(R), Riders(R), Rustler(R), Vanity Fair(R), Vassarette(R), Bestform(R), Lily of France(R), Nautica(R), Earl Jean(R), John Varvatos(R), JanSport(R), Eastpak(R), The North Face(R), Vans(R), Napapijri(R), Kipling(R), Lee Sport(R) and Red Kap(R). For more information visit www.vfc.com

About Visa

Visa is the world's leading payment brand and largest payment system, enabling banks to provide their consumer and business customers with a wide variety of payment alternatives. Nearly 21,000 financial institutions worldwide rely on Visa's processing system, VisaNet, to facilitate $3 trillion in annual transaction volume with virtually 100-percent reliability. Cardholders in more than 150 countries carry more than 1 billion Visa-branded cards, accepted at millions of locations worldwide. Within the United States, nearly 14,000 financial institutions issue 453 million Visa cards, accounting for more than $1.1 trillion in annual transaction volume. Visa offers a trusted, reliable and convenient way to access and mobilize financial resources - anytime, anywhere, anyway.

About NOVA

NOVA Information Systems, a leader in the payment processing industry, is a wholly owned subsidiary of U.S. Bancorp (NYSE:USB). NOVA partners with financial institutions, independent sales organizations, associations, government agencies and community banks to offer integrated payment processing services to their merchants and retailers. NOVA's products include credit and debit card processing services, software applications, electronic check conversion, gift card solutions and other value-added services to more than 750,000 merchant locations in the United States, Canada and Europe. For more information visit www.novainfo.com.

NOVA Information Systems
Michelle Graff

SOURCE: NOVA Information Systems

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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