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Home : News And Events : CyberSource Names Simon Stokes Managing Director, CyberSource Ltd.

CyberSource Names Simon Stokes Managing Director, CyberSource Ltd.

MOUNTAIN VIEW, Calif., March 31, 2008

CyberSource Corporation (NASDAQ: CYBS) has appointed Simon Stokes to the position of managing director of its wholly-owned UK subsidiary, CyberSource Ltd. Mr. Stokes will focus on enhancing the company's operational agility, leveraging partner synergies, and raising CyberSource brand awareness in Europe.

Stokes joined CyberSource Ltd. in 2006 as sales director, tasked with developing UK business, expanding operations, and building partnerships with technology companies and financial institutions. Since June 2007, he had been serving as the acting Managing Director.

"Simon Stokes has been an exceptional contributor to CyberSource from day one," said Michael Walsh, senior vice president, worldwide sales. "We welcome his fuller participation and leadership as CyberSource looks to expand its already successful operations in the European arena."

Prior to joining CyberSource, Stokes spent 17 years with Dell UK, a time in which the organization grew from 20 to approximately 1000 employees. While at Dell, he gained the experience of managing a variety of operations and teams, both in England and in Ireland.

About CyberSource

CyberSource Corporation is a leading provider of electronic payment and risk management solutions. CyberSource solutions enable electronic payment processing for Web, call center, and POS environments. CyberSource also offers industry leading risk management solutions for merchants accepting card-not-present transactions. CyberSource Professional Services designs, integrates, and optimizes commerce transaction processing systems. Approximately 228,000 businesses use CyberSource solutions, including half the companies comprising the Dow Jones Industrial Average. The company is headquartered in Mountain View, California, and has sales and service offices in Japan, the United Kingdom, and other locations in the United States including Bellevue, Washington and American Fork, Utah. For more information on CyberSource please visit www.cybersource.com or email info@cybersource.com. For more information on Authorize.Net small business solutions, please visit www.authorize.net or email sales@authorize.net.

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995

Statements in this release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements regarding the company's expectations, objectives, anticipations, plans, hopes, beliefs, intentions or strategies regarding the future. Forward-looking statements in this release include, without limitation, statements regarding: (1) enhancing the company's operational agility, leveraging partner synergies, and raising CyberSource brand awareness in Europe; and, (2) the company expanding its already successful operations in the European arena. Factors that could cause actual results to differ materially from the forward looking statements include risks and uncertainties such as changes in Generally Accepted Accounting Principles and the application thereof, changes in customer needs, the risks inherent in integrating a newly-acquired business, the risk of the economy, in general, and online economy, in particular, slowing down, new products and services offerings by the company and its competitors, any unforeseen event or any unforeseen system failures, and other risks indicated in our filings with the Securities and Exchange Commission. It is important to note that actual outcomes could differ materially from those in such forward-looking statements. Readers should also refer to the documents filed by CyberSource with the Securities and Exchange Commission, specifically the annual report filed on Form 10-K for the year ended December 31, 2007, filed with the Securities and Exchange Commission on March 11, 2008, and our quarterly reports filed on Form 10-Q from time to time, all of which identify important risk factors.