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Wright Express Signs Private Label Fleet Card Agreement with ConocoPhillips
SOUTH PORTLAND, Maine, Sep 01, 2010 (BUSINESS WIRE) --
Wright Express Corporation (NYSE: WXS), a leading provider of payment processing and information management services to the U.S. commercial and government fleet industry, announced today that it has signed a 5 year agreement to provide private label fleet card services for ConocoPhillips [NYSE:COP].
Under the terms of the agreement, Wright Express will issue fleet cards and provide related services to all three brands affiliated with ConocoPhillips' motor fuels; Conoco, Phillips 66 and 76. Wright Express and ConocoPhillips will closely collaborate in building a comprehensive sales and marketing program for direct sales as well as to support the local efforts of independent marketers and dealers who represent these brands through over 7500 sites.
The program will include a competitive discount offer on ConocoPhillips fuel through a branded proprietary fleet card good only at the Conoco, Phillips 66 and 76 locations, as well as a new branded universal card which will be accepted at over 150,000 fuel and service locations throughout the United States. These new commercial offerings will bring value to loyal businesses and ConocoPhillips' branded marketers and dealers.
"This agreement with Wright Express ensures that we will enhance the scope and competitiveness of our offering for our valued fleet card consumers," said Jane Gasdaska, Manager - Planning and Optimization, US Marketing, ConocoPhillips. "Wright Express will allow us to provide our branded fleet cardholders with the complete range of information, features, and functionality they need to meet their fleet management and growth needs."
"Companies choose Wright Express because of our high performance management of portfolios, including a world-class set of services that enhance success in acquiring new customers, retaining existing customers, increasing sales, and penetrating new market segments. In addition, Wright Express is consistently investing in new products and services to expand the value to fleets and help them grow their commercial fleet card portfolio," said Michael Dubyak, Chairman and CEO of Wright Express. "We're pleased to add these great ConocoPhillips brands to our Private Label program, and in particular, we are enthusiastic about leveraging the strong market presence ConocoPhillips holds in key markets such as Los Angeles, Denver, Seattle."
ConocoPhillips is an international, integrated energy company with interests around the world. Headquartered in Houston, the company has approximately 29,900 employees, $155 billion of assets, and $179 billion of annualized revenues as of March 31, 2010. For more information, go to http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.conocophillips.com%2F&esheet=6415750&lan=en-US&anchor=www.conocophillips.com&index=1&md5=0a13540e164e2f38bf7172add738c923.
About Wright Express
Wright Express is a leading global provider of payment processing and information management services. Wright Express captures and combines transaction information from its proprietary network with specialized analytical tools and purchasing control capabilities in a suite of solutions that enable fleets to manage their vehicles more effectively. The Company's charge cards are used by commercial and government fleets to purchase fuel and maintenance services for approximately 4.6 million vehicles. Wright Express markets its services directly to fleets and is an outsourcing partner for its strategic relationships and franchisees. The Company's business portfolio includes a MasterCard-branded corporate card as well as TelaPoint, a provider of supply chain software solutions for petroleum distributors and retailers, and Pacific Pride, an independent fuel distributor franchisee network, as well as international subsidiaries. For more information about Wright Express, please visit http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.wrightexpress.com&esheet=6415750&lan=en-US&anchor=www.wrightexpress.com&index=7&md5=4001788e0520d7d6b4bd09b04d325631.
SOURCE: Wright Express Corporation