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Equifax Announces New Strategic Planning Tool To Protect Business Against Recession

New Stress Test and Forecasting Capability Helps Businesses Plan for Potential Recessions and Economic Downturns

ATLANTA, June 8, 2000

Equifax Inc. (NYSE: EFX) has created a new capability to help businesses from all industries evaluate how economic fluctuations will affect customer retention and, most importantly, the bottom line. Equifax and WEFA, Inc. have partnered to offer a financial "stress test" that will give businesses peace of mind when calculating their financial futures.

Through the new "stress tests" now available, which use an extensive range of recessionary and baseline scenarios, businesses can evaluate the effect of market dynamics and create strategies to optimize long-term customer relationship value. This new capability is part of a comprehensive risk management discipline currently used by some of the largest US financial institutions, including Bank One and Household International, Inc.

"Leading economic advisors, like Federal Reserve Board Chairman Alan Greenspan, have advocated that companies test the economic assumptions that underlie their strategic business objectives," says Jeff Dodge, executive vice president of Equifax Knowledge Engineering. "Our clients can now stress test their business assumptions and apply the results to revise contingency plans in the event of sudden economic changes."

By combining Equifax's core strengths in information management and analytics-based solution development with WEFA, Inc.'s leading economic information and consulting practice, Equifax is able to offer a solution which protects business in all industries from customer attrition and other financial vulnerabilities caused by recessions or downward turns in the economy.

"Most of the industry's current econometric models base observations on periods of prosperity. As a result, many clients have little or no quantitative evidence of the potential impact that a recession would have on their accounts," says Mark Lauritano, senior vice president, resource planning services of WEFA, Inc. "By providing informed scenarios for both baseline and recession situations, the Equifax Risk & Usage Forecast prepares companies to act swiftly in case of abrupt economic shifts."

Using extensive aggregated credit data and econometric analytics, the new capability assists companies in designing strategic business objectives, including:

  • Broad-based new market planning to aggressively target high growth areas and analyze high risk markets;
  • Stress testing based on customized solutions, combining customer data with information about specific economic and credit environments;
  • Strategic target marketing capabilities for prioritizing resources.

How It Works

The new capability, as part of the enhanced Equifax Risk & Usage Forecast, integrates aggregated credit data from both Equifax and client databases. By applying sophisticated econometric forecasting, this tool allows clients to evaluate their customer bases using an unlimited number of scenarios. The forecast overlays consumer credit attributes with recessionary and baseline economic assumptions to create a robust analytic and stress testing tool. Using 231 Metropolitan Statistical Areas (MSAs), the forecast provides evaluation and measurement of national and regional economic changes, identifying those geographic markets that are most vulnerable and those that are most resilient.

About Equifax Inc.

Equifax, a worldwide leader in shaping global commerce, brings buyers and sellers together through its information management, transaction processing, direct marketing, and customer relationship management businesses. Atlanta-based Equifax (NYSE: EFX) serves the financial services, retail, credit card, telecommunications/utilities, transportation, information technology and healthcare industries and government. Equifax adds knowledge, expertise, convenience and security to provide value-added solutions and processes for its customers wherever they do business, including the Internet and other networks. Equifax employs about 15,000 associates in 16 countries with sales in almost 50 and has $1.8 billion in revenue.

About WEFA, Inc.

WEFA works with organizations throughout the world to understand and quantify how the outside economic environment impacts their operations. With the largest collection of economic, demographic and related information, a team of experienced business and economic analysts and an innovative Internet-based delivery mechanism, WEFA has the resources needed to address the important issues facing business, government and finance.

 

Statements in this press release that relate to Equifax's future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Those factors could include changes in worldwide and U.S. economic conditions that materially impact consumer spending and consumer debt, changes in demand for the Company's products and services, risks associated with the integration of acquisitions and other investments, and other factors discussed in the "Forward-looking Information" and "Year 2000 Information" sections in the management's discussion and analysis included at Part II, Item 7 in the Company's annual report on Form 10-K for the year ended December 31, 1999.

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