A conversation with Euronet’s Chairman and CEO Michael J. Brown on the opportunities and challenges  the company faces today. Euronet Worldwide generates and processes financial transactions through secure electronic technology. We’re more than just an ATM network or just a software com- pany. We pursue a comprehensive set of solutions that help drive transac- tions, including network operations, outsourcing operations, software development — all incorporating the latest technology. As we introduce new methods of managing financial accounts through various electronic touchpoints, such as ATMs, the Internet and mobile phones, we continually increase transaction types and volumes in our processing centers. The more outsourcing and processing solutions that we provide, the more transactions we generate.  At Euronet, we’ve always emphasized the theme of “Building Bridges.” I think that idea pretty well sums up Euronet’s vision: to create digital bridges that connect people and their financial institutions electronically in a world that’s increasingly on-line and on the move. We help people control their finances any time, any place— right from the palm of their hands. A number of factors are driving additional transaction growth for us, from deployment of new ATMs to delivery of bill payment solutions. The primary factor is the We have also established network processing centers within geographic regions and will leverage those  centers’ capabilities and our software development to generate more trans- actions. We currently have processing centers in the US, Europe and Asia. The Network Services business gen- erated $37 million in revenue last year – an increase of 39% over 1999 – and turned the corner to become EBITDA positive for the year 2000. We expect to continue to experience sig- nificant transaction growth in our ATM and POS More transactions equates to more revenue. During 2000 we have seen our business model mature and our expenses level off. Therefore, as our revenues increase, we are seeing higher percentages of revenue drop  to the bottom line and contribute to our EBITDA performance. organic growth in the emerging markets we are in, where more and more people are getting debit and  credit cards for the first time. This growth will continue as we deliver new solutions and  enter new markets that can generate more transactions.  How would you summarize Euronet’s main focus as a financial services provider? What is your business strategy going forward? How will you maintain your growth rate on your transactions and revenue? Network Services: Revenue 39% increase for full year 2000 over 1999 1995 1996 1997 1998 1999 2000 36.9 USD Million 26.5 11.5 5.3 1.3 0.1 Transaction Growth 1997 1998 1999 2000 52.7 Million 32.8 15.1 5.6 3 Our strategy is to go into growing markets, whether  geographic (like Greece, Poland or Egypt) or new  product-entry markets (like mobile banking in the US). We have built the infrastructure and now we can enter these markets without having to make major financial investments. Mike Brown: Building Digital Bridges Worldwide