LOUISVILLE, Ky., Apr 11, 2002 -- National Processing Company (NPC(R)), a leading provider of merchant credit card processing and a wholly owned subsidiary of National Processing, Inc. (NYSE: NAP), announced the signing of a multi-year agreement to process e-commerce transactions for Laura Ashley, Inc. (LAI). Under the terms of the agreement, LAI will utilize NPC`s VirtualPAY(SM) product to process e-commerce credit card transactions conveniently and securely over the Internet. NPC currently processes Visa(R) and MasterCard(R) transactions for Laura Ashley retail locations across the United States.
Laura Ashley is an internationally recognized specialty retailer of home furnishings and updated women`s and children`s clothing, and accessories in the classic English country style. Customers can conveniently shop for a distinctive collection of goods bearing the Laura Ashley label through retail outlets and on-line at www.laura-ashleyusa.com .
"On-line retailing has revolutionized changes that will forever shape the way consumers shop and pay for goods," said Tim Munto, senior vice president of Retail Sales for NPC. "Successful companies like Laura Ashley have recognized and embraced this phenomenon and look to companies like NPC to provide a secure payment engine to make it work."
"The NPC VirtualPAY product has many features that minimize fraud and maximize the benefits of accepting on-line Internet-based transactions, said Mark D. Pyke, chief operating officer for NPC. "We have been delighted to be Laura Ashley`s merchant credit card processor and are honored to be selected to process their e-commerce transactions as well."
"We needed a processor that could deliver processing capabilities for whatever environment our customers choose to shop in," said Jaime Dearing, website administrator for Laura Ashley, Inc. "The NPC VirtualPAY product delivers a merchant processing solution that supports on-line Internet-based financial transactions. NPC also backs this product up with superior customer service and technical support from industry experts that are available 24 X 7."
About Laura Ashley, Inc.
Laura Ashley, Inc. (LAI), is the retail operating company of the Laura Ashley Group of companies in the United States, and has principal offices in Fort Mill, South Carolina. LAI operates approximately 51 retail shops in upscale and regional malls, specialty strip centers and village locations. For more information please visit our website at www.laura-ashleyusa.com .
About National Processing, Inc.
National Processing, Inc. through its wholly owned operating subsidiary, National Processing Company (NPC(R)) is a leading provider of merchant credit card processing. National Processing is 86 percent owned by National City Corporation (NYSE: NCC) ( www.nationalcity.com ), a Cleveland based $106 billion financial holding company. NPC supports over 600,000 merchant locations, representing nearly one out of every five Visa(R) and MasterCard(R) transactions processed nationally. NPC`s card processing solutions offer superior levels of service and performance and assist merchants in lowering their total cost of card acceptance through our world-class people, technology and service. Additional information regarding National Processing can be obtained at www.npc.net .
CONTACT:
Dawn M. Thompson
National Processing, Inc.
+1-800-255-1157
fax, +1-502-315-3535
dmthompson@npc.net
Jaime Dearing
Laura Ashley, Inc.
+1-803-396-7739
jdearing@lauraashley-usa.com
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