VISA SIGNS MULTI-MILLION DOLLAR GLOBAL AGREEMENTS WITH TOURISM VANCOUVER AND TOURISM WHISTLER

Sponsorships to promote Vancouver and Whistler to the world

Vancouver, B.C. (June 8, 2004) - Visa announced today two global agreements with Tourism Vancouver and Tourism Whistler to promote domestic and international travel in the run up to, and during the 2010 Winter Olympic Games. The multi-million dollar global agreements will offer VISA® cardholders worldwide value-added offers and incentives to visit Vancouver and Whistler, and are expected to spur tourism spending in Western Canada.

The new, long-term global agreements build on Visa Canada’s existing relationships with Tourism Vancouver and Tourism Whistler. Visa Canada joined forces with the British Columbia-based tourism bureaus several years ago in an effort to spur tourism and spending in the region. Travel and entertainment is an important market for Visa and represents more than 18 percent of Visa’s annual sales in Canada.

Over the span of the global agreements, Visa will work closely with Tourism Vancouver and Tourism Whistler to create unique programs to benefit the region’s travel and merchant community. The sponsorships include advertising as well as joint marketing programs to promote Vancouver and Whistler as key travel destinations. This early start on destination marketing will help ensure unparalleled international exposure for the Vancouver-Whistler area leading up to the 2010 Olympic Winter Games.

Visa Canada President Derek Fry made the announcement today at a luncheon speech given at the Vancouver Board of Trade. Mr. Fry said, "Demonstrating Visa’s global commitment to regional tourism and the Olympic movement, these new agreements add extraordinary reach and depth to our already strong relationships with Tourism Vancouver and Tourism Whistler. This early start to the 2010 program will allow us to push the envelope and deliver a truly innovative program in the marketplace."

The global agreements augment Visa’s on-going, broad-based support of the Olympic Games and their host cities. Through its Olympic-related marketing programs, Visa seeks to generate excitement for the Olympic Games, drive incremental business to the local merchant communities, and create greater value for VISA cardholders.

"This global arrangement with Visa will help our tourism sales and marketing efforts have unprecedented impact around the world," commented Rick Antonson, President, CEO of Tourism Vancouver.

The head start in Olympic planning allows the three organizations to collaborate, ensuring a fully integrated, break-through approach to the marketing of the 2010 Games. Through these alliances, VISA cardholders will come out on top as they take advantage of exclusive usage programs for accommodations at participating hotels, and special offers for goods and services purchased on a VISA card within the retail dining, attractions, spa, sightseeing, and car rental categories.

"Vancouver and Whistler are breaking the mold for host cities by seizing the Olympic marketing opportunities with leaders like Visa much earlier in the cycle," noted Barrett Fisher, President of Tourism Whistler.

Local merchants who are members of Tourism Vancouver or Tourism Whistler will be able to display point-of-sale materials featuring the official VISA and Olympic sponsorship symbols. This integrated look, including signage, posters, window decals, counter signs, cheque presenters, and tip trays will help drive purchases and thank customers for choosing Visa.

About Visa

As "The World’s Best Way to Pay®," VISA cards are the leading payment brand in the world. Twenty-one thousand financial institutions worldwide rely on Visa’s processing system, VisaNet®, to facilitate approximately $3 trillion (USD) in annual transaction volume with virtually 100 per cent reliability. Visa has unsurpassed global acceptance at more than 20 million locations including more than 840,000 ATMs. Within Canada, 25 Member financial institutions have issued over 24 million VISA cards, accounting for $122 billion in annual sales volume in 2003. For more information, visit www.visa.ca.

About Tourism Vancouver

Tourism Vancouver's focus is on building exceptional customer relationships with meeting planners, travel influencers, travel media and independent tourists. Our efforts generate demand for the destination, thereby creating value for members and stakeholders. Innovation, partnership, research and accountability guide our approach. We utilize person-to-person and technology-based sales, marketing and visitor servicing activities to achieve results. Through positive positioning of both the organization and the destination, our leadership benefits the society, culture, environment and economy of Greater Vancouver.

About Tourism Whistler

Tourism Whistler is a member-based marketing and sales organization, representing Whistler and operating the TELUS Conference Centre at Whistler, Whistler Golf Club, and www.myWHISTLER.com the Official Site of Whistler. With a customer-focused, forward-thinking approach, Tourism Whistler leads the positioning of Whistler as the premier year-round mountain resort destination through the development of key partnerships, strategic communications, and market intelligence. Tourism Whistler represents more than 7,000 members who own, manage and operate properties or businesses on resort lands including hotels, restaurants, activity operators and retail shops.

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For further information, or to arrange an interview, please contact:

Michele Comeau Thompson
Tourism Whistler
604-938-2709
mcomeau@tourismwhistler.com

Walt Judas
Tourism Vancouver
604-631-2882
wjudas@tourismvancouver.com

Terrie Tweddle
Visa Canada Association
416.860.3871
ttweddle@visa.com

Colin Baptie
Visa International
650-432-4671
cbaptie@visa.com

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