NRF Letter to Retailers 06/30/06

Claims Distribution for Visa/MasterCard Lawsuit

June 30, 2006

Dear Retailer,

I am pleased to announce that the vast majority of uncontested claims from the Visa/MasterCard litigation are being paid this week.  This distribution represents damages based on credit and signature debit transactions.

For your convenience, the Claims Administrator has added a new feature to its website that will allow merchants to determine  if their payment is  being made now . To find out if your claim is being distributed, go to www.inrevisacheckmastermoneyantitrustlitigation.com and click on the new link for the June 28, 2006 Claims Distribution listing.

Merchants that are not being paid now (or who weren't paid in the distribution made last December) will likely be paid at the end of the year. Included in this category are merchants whose data was not in the database used for the distribution (the "VM2" merchants) and those with complicated consolidations. We expect distribution of online PIN debit damages to be made to eligible merchants next year.

Sincerely,

Tracy Mullin