## OF OUR BUSINESS MODELS AND OUR IMPROVED RISK PROFILE, WHICH HAVE HELPED TO LOWER OUR EXPENSE BASE AND STRENGTHEN OUR BALANCE SHEET. TY 

WE CONTINUED TO MAKE OUR BUSINESS MODELS MORE ADAPTABLE AND BETTER ABLE TO NAVIGATE THROUGH BOTH GOOD AND BAD ECONOMIC CYCLES. ❙ WE DELIVERED MORE THAN $1 BILLION IN SAVINGS AND IMPROVED MAJOR BUSINESS PROCESSES THROUGH REENGINEERING, EXPANDED OUR USE OF THE INTERNET TO SERVE CUSTOMERS, CONTINUED TO DIVERSIFY CARD SPENDING BY LOWERING OUR RELIANCE ON THE TRAVEL AND ENTERTAINMENT SECTOR, FORGED PARTNERSHIPS THAT ENHANCE OUR CAPABILITIES, AND DEVELOPED MORE SUSTAINABLE SOURCES OF INVESTMENT FUNDING. ❙ THESE EFFORTS HAVE ALLOWED US TO GENERATE SOLID GROWTH IN 2002 EARNINGS, EVEN IN A WEAK ENVIRONMENT, WHILE ALSO INCREASING MARKETING AND OTHER BUSINESS-BUILDING INITIATIVES. 

