Wright Express

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Wright Express Completes Acquisition of Australian Assets of Retail Decisions

Leading Australian Fleet and Prepaid Card Provider Transaction Expands International Footprint, Diversifies Revenue, and Provides Immediate Earnings Accretion

SOUTH PORTLAND, Maine, Sep 15, 2010 (BUSINESS WIRE) -- Wright Express Corporation (NYSE: WXS) today announced that it has completed the previously announced acquisition of the Australian assets of Retail Decisions consisting of its fleet and prepaid card businesses from Palamon Capital Partners, a private equity firm, and its co-investors Morgan Stanley Alternative Investment Partners and AlpInvest Partners.

With the closing of the transaction, Wright Express will advance its long-term vision of providing both payment processing and card issuance services internationally. In addition, the acquisition furthers the company's strategy of expanding its footprint in key international markets and diversifying its revenue.

"We believe this transaction builds on our existing strategy in Europe and the Asia Pacific region where we have been pursuing opportunities as a private label fleet card processor for major oil companies," said Michael Dubyak, chairman and chief executive officer of Wright Express. "We are acquiring two highly profitable and well-run businesses, each of which is a leader in its respective market within Australia. In addition, both Sue Hando, managing director for ReD Prepaid and David Howell, managing director for ReD Fuel cards, bring a wealth of expertise in their respective industries, and both will play a key role in driving growth for our combined company."

© WEX Australia Pty Ltd (ABN 33 008 962 132)