Dear Shareholders and Friends: on January 1st of this year, we purchased the  remaining 49 percent of FNMS, which we  rebranded as TSYS Merchant Solutions. SM As I have said before, this acquisition will not be our last. We will continue to explore opportunities to pursue and invest in strategically sound acquisitions within and outside the United States to make TSYS an even stronger company. Last year, I wrote to you that TSYS would  emerge from 2010 as a stronger, leaner and more diversified company. As we close the books on a defining year in our company’s history, I am pleased to report that we accomplished those objectives and managed the business well amidst an uncertain economic environment and a changing  payments industry. After facing a series of challenging years, TSYS has  turned the corner and will continue to grow in 2011 and beyond. We truly  believe the best is yet to come for TSYS.  We have focused on getting closer to the merchant to make payments more  convenient and efficient while also getting closer to the consumer in order to make the payment experience more  rewarding. In April, we took a major step  forward in achieving this important goal  by entering into a joint venture with First National Bank of Omaha and its merchant acquiring business, First National Merchant Solutions (FNMS). We acquired a 51 percent stake, giving us a top-10 presence in the merchant  acquiring market in the United States, according to The Nilson Report. Then PhiliP W. Tomlinson Chairman of the Board & Chief Executive Officer 1