CAPITAL Corporate News

CAPITAL Extends Agreement with CorTrust for Card Services
January 20, 2003

SIOUX FALLS - CAPITAL Card Services (CAPITAL), a leader in portfolio management and card outsourcing solutions, today announced that it has signed a multi-year agreement with CorTrust Bank (CorTrust). Under the terms of the agreement, CAPITAL will continue to provide card services for CorTrust's national credit card program.

"Our long standing partnership with CAPITAL has been a critical component of our successful expansion from approximately 3,000 accounts to our present servicing base of over 50,000 accounts. CAPITAL's customized servicing solutions offers us the flexibility we need to continue to support the demands of our customers while providing the capabilities necessary for our continued growth," said Boyd Hopkins, President and CEO CorTrust.

CAPITAL is a privately held servicer of MasterCard and Visa and provides operational and portfolio management services to credit card issuers within the United States. CorTrust is a leading regional banking organization and a national issuer of MasterCard and Visa.

"We are pleased to continue to provide servicing solutions for CorTrust," said Jeff Aegerter, President and CEO for CAPITAL. "CorTrust is an important strategic partner for CAPITAL and we believe that our proven history of supporting a growing card portfolio has helped them add value to their customer relationships as well as their shareholders," Aegerter added.

CAPITAL has provided card-servicing solutions to CorTrust for the past 4 years. In addition, CorTrust partners with CAPITAL for a wide range of other credit card related services including account acquisition, systems management, and risk assessment services.

About CorTrust Bank, N.A.
CorTrust Bank is a $342 million community bank offering deposit services, loans, investments, insurance and trusts through its 22 locations in 17 communities throughout South Dakota. It also operates a national credit card program.