Visa Posts $861 Million Loss This Year on Legal Costs (Update1)

Visa Inc., the greatest credit-card
company, had an $861 million loss this twelvemonth on $2.65 billion in
litigation costs, most from settling an antimonopoly lawsuit brought
by competing American Express Co.

Legal disbursals reversed additions for the San Francisco-based
company. Gross in the financial twelvemonth ended Sept. Thirty rose 33
percent to $5.19 billion, Visa said today in a regulatory
filing. The loss compares with net income of $453 million in 2006,
Visa said.

Visa's Nov. Seven colony with American Express, the third-
largest credit-card network, cleared the manner for its planned
initial populace offering next year. The company desires to
capitalize on consumers' growth penchant for recognition and debit
cards over hard cash and checks. MasterCard Inc., the No. Two network,
has gained more than than 400 percentage since going public in May 2006.

American Express sued Visa in November 2004 after the U.S.
Supreme Court ruled Visa and MasterCard violated antimonopoly laws
by preventing member Banks from offering challenger cards. Citigroup
Inc. and Depository Financial Institution of United States Corp., the two greatest U.S. banks,
later agreed to offer American Express services.

Visa booked a $1.9 billion complaint for the settlement, and a
$650 million proviso for a lawsuit from Discover Financial
Services, the fourth-largest network, the company said today.

Consumer purchasing with credit, debit entry and complaint card game will
reach 56 percentage of all U.S. minutes by 2010 from 40
percent in 2005, according to the Nilson Report of Oxnard,
California.

Visa will name Class A shares on the New House Of York Stock
Exchange under the symbol ''V,'' according to the filing.

To reach the newsman on this story:
Hugh Son in New House Of York at ;
Elizabeth Hester in New House Of York at

American Express Donates $500,000 to St. Paul's in London

American Express Co., the third-largest
U.S. credit-card network, said it will give $500,000 over two
years to St. Paul's Cathedral in Greater London as portion of a philanthropic
program to continue human race memorials and sites.

''St. Paul's is a great and imposing landmark, symbol of a
great city, and the crowning work of one of the world's great
architects,'' said Georgie Shields, frailty president of philanthropy
at American Express, in a telephone set interview. The programme is also
a reminder, she said, that ''we've had a presence in Greater London for
over 120 years.''

Conducted jointly with the World Monuments Fund, the project
will supply the cathedral's 1.6 million yearly visitants entree to
its upper galleries, which offering mulct views. Visitors also will
see the theoretical account of an unbuilt designing by the cathedral's architect,
Christopher Wren.

All told, American Express will pass $1 million a twelvemonth over
four old age to assist St. Paul's and three other sites, including
Route 66 in the U.S., which is on the World Monuments Fund Watch
List of 100 most endangered sites. New York-based American Express
will pass $150,000 support a survey that volition high spot the
economic and environmental benefits of promoting touristry to the
historic ''corridor'' and its attractions.

Another $200,000 will travel toward developing a new heritage
route in New Old Delhi highlighting the historical countries and land sites of
the working capital in clip for the theatrical production of the 2010 Commonwealth
Games. Finally, $200,000 will fund instruction and content for a
visitor point being planned for United Mexican States City's historical center.

To reach the newsman on this story:
Farah Nayeri in Greater London at .