8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 22, 2004

CHOICEPOINT INC.

(Exact name of registrant as specified in its charter)

Georgia
(State or other jurisdiction of incorporation) 001-13069
(Commission File Number) 58-2309650
(IRS Employer Identification Number)

1000 Alderman Drive
Alpharetta, Georgia 30005
(Address of principal executive offices, including zip code)

(770) 752-6000
(Registrant’s telephone number, including area code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Item 7 (c). Exhibits

Exhibit 99.1	Press Release of ChoicePoint Inc., dated January 22, 2004, reporting ChoicePoint Inc.’s financial results for the fourth quarter and full year of 2003.
Exhibit 99.2	Supplemental Information prepared for use in connection with the financial results for the fourth quarter and full year of 2003.

Item 9. Regulation FD Disclosure

     The information contained in this Item 9 is being furnished to the Securities and Exchange Commission (the “Commission”) pursuant to Item 12 of Form 8-K, “Disclosure of Results of Operations and Financial Condition,” as directed by the Commission in Release No. 34-47583.

     On January 22, 2004, we issued a press release announcing fourth quarter and full year 2003 financial results. The press release is filed as Exhibit 99.1 to this report on Form 8-K and is incorporated herein by reference.

The press release presented non-GAAP financial information such as operating income before other operating charges (which is not a measure of financial performance under generally accepted accounting principles), which the Company believes is useful for investors to compare the Company’s results from ongoing operations excluding the effect of previously announced realignment of our technology infrastructure and operations following the divestiture of our CPCS business, the transition to our new data center, the reengineering of certain of our direct marketing businesses and the further consolidation of some of our public records and workplace solutions operations. This data is also used by the Company to compare its performance to its competitors and to manage its ongoing business.

     On January 22, 2004, ChoicePoint held an investor conference call and Webcast to disclose financial results for the fourth quarter and full year of 2003. The Supplemental Information package that was placed on the ChoicePoint Inc. Website prior to this call is attached and incorporated by reference herein as Exhibit 99.2. All information in this Supplemental Information package is presented as of December 31, 2003, and ChoicePoint Inc. does not assume any obligation to correct or update said information in the future.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     Dated: January 27, 2004.

CHOICEPOINT INC. (Registrant)
By:	/s/ Derek V. Smith
	Derek V. Smith
	Chairman and Chief Executive Officer
By:	/s/ Steven W. Surbaugh
	Steven W. Surbaugh
	Chief Financial Officer (Principal Financial Officer)

Exhibit Index

Exhibit No.
Exhibit 99.1	Press Release of ChoicePoint Inc., dated January 22, 2004, reporting ChoicePoint Inc.’s financial results for the fourth quarter and full year of 2003.
Exhibit 99.2	Supplemental Information prepared for use in connection with the financial results for the fourth quarter and full year of 2003.

EX-99.1 3 g86885exv99w1.txt EX-99.1 PRESS RELEASE DATED JANUARY 22, 2004 EXHIBIT 99.1 FOR IMMEDIATE RELEASE Contact: John Mongelli Investor Relations (770) 752-6171 CHOICEPOINT(R) REPORTS FOURTH QUARTER AND 2003 FULL YEAR RESULTS ALPHARETTA, GA. - JANUARY 22, 2004- ChoicePoint Inc. (NYSE: CPS), today reported fourth quarter total revenue of $200.0 million, reflecting revenue growth over the comparable period of 2002 of 5 percent. For the full year, total revenue was a record $795.7 million, a 9 percent increase over comparable revenue in 2002. Earnings per share ("EPS") for the fourth quarter was $0.30 per share which includes the $0.05 per share dilutive effect of the previously announced repositioning of certain of our operations. Consistent with the previously announced consolidation of some of our public records and workplace solutions operations and the reengineering of certain of our direct marketing businesses, the Company recorded an additional other operating charge of $7.1 million ($4.4 million after tax) during the fourth quarter of 2003. Excluding the effect of this charge, EPS would have been $0.35 per share. Full year EPS was $1.58 compared to $1.01 in 2002, an increase of 57 percent. Full year EPS from continuing operations excluding the other operating charge ($30.9 million, $19.1 million after tax) was $1.42 in 2003, a 13 percent increase over $1.26 in 2002. "During the quarter, we continued to see improving underlying trends in our core businesses which positions us for a solid 2004" commented Derek V. Smith, Chairman and CEO. "Looking ahead, I am excited about the momentum I am seeing and the tremendous opportunities for ChoicePoint to leverage our unique capabilities." Chief Financial Officer Steven W. Surbaugh added, "I am pleased that we achieved total revenue growth of 9 percent and delivered 13 percent growth in earnings despite weaknesses in our Marketing Services segment and tough homeland security revenue comparisons. Importantly, our earnings continue to turn to cash as evidenced by our outstanding 39 percent growth in net ChoicePoint Earnings Page 2 of 11 free cash flow, and we were able to lower our net debt to record levels. We continue to have outstanding cash flows and a very strong balance sheet." FINANCIAL HIGHLIGHTS - FOURTH QUARTER - Core revenue increased 4 percent to $188.5 million for the fourth quarter of 2003 from $181.1 million for the fourth quarter of 2002. Internal revenue (which represents core revenue less revenue from acquisitions) for the fourth quarter of 2003 declined 3 percent from the fourth quarter of 2002, primarily related to the continued weakness in our Marketing Services businesses, including our e-mail business, and tougher homeland security revenue comparisons. Fourth quarter 2003 total revenue increased 5 percent to $200.0 million from $189.6 million in 2002. - Operating income was $44.3 million for the fourth quarter of 2003 compared to $49.6 million for the fourth quarter of 2002. Excluding the other operating charges discussed below, operating income was $51.4 million for the fourth quarter of 2003, an increase of 4 percent from 2002. - In the fourth quarter of 2003, the Company recorded an additional pre-tax charge of $7.1 million ($4.4 million net of taxes) primarily related to the previously announced consolidation of some of our public records and workplace solutions operations and the reengineering of certain of our direct marketing businesses. - During the quarter ended December 31, 2003, the Company acquired CITI Network, Inc. d/b/a Applicant Screening and Processing (ASAP), a provider of residential screening services to apartment communities located in Florida. FINANCIAL HIGHLIGHTS - FULL YEAR - Core revenue increased 9 percent to $750.4 million for the year ended December 31, 2003 from $690.7 million for 2002. Internal revenue increased 2 percent from 2002, as weakness in our print and e-mail marketing businesses and our very strong homeland security revenues in 2002 were offset by strong growth in our personal lines business. 2003 total revenue increased 9 percent to $795.7 million from $729.3 million in 2002. - Operating income was $178.6 million for the year ended December 31, 2003 compared to $182.5 million for 2002. Excluding the other operating charges discussed below, ChoicePoint Earnings Page 3 of 11 operating income was $209.5 million for 2003 compared to $189.9 million for 2002, an increase of 10 percent from 2002. - During 2003, the Company recorded a $61.2 million pre-tax gain on the sale of our CP Commercial Specialists ("CPCS") business ($32.9 million after tax) and pre-tax other operating charges totaling $30.9 million ($19.1 million net of taxes) related to the previously announced realignment of our technology infrastructure and operations following the divestiture of our CPCS business, the transition to our new data center, the reengineering of certain of our direct marketing businesses and the further consolidation of some of our public records and workplace solutions businesses. These initiatives were concluded in the fourth quarter of 2003. During the second quarter of 2002, the Company recorded a pre-tax charge of $7.3 million ($4.5 million net of taxes) primarily related to a write-down of minority investments in start-up companies and expenses primarily related to the closure of two facilities and remaining obligations. - Free cash flow (net cash provided by operating activities of continuing operations of $194.3 million less capital expenditures of $41.9 million) was a very strong and record $152.4 million for the year ended December 31, 2003, an increase of $42.6 million compared to $109.7 million for 2002. - Net debt (total debt less cash) for the year ended December 31, 2003, decreased by $119.5 million to a historically low $28.6 million as we used proceeds from the first quarter sale of CPCS and cash from operations to reduce indebtedness. Our additional remaining debt capacity under our committed financing lines is approximately $375 million. OPERATIONAL HIGHLIGHTS INSURANCE SERVICES - Total revenue increased 12 percent to $77.0 million in the fourth quarter of 2003 compared to $68.6 million in the prior year, including an internal revenue growth rate of 10 percent. For the year ended December 31, revenue increased 14 percent, with an internal revenue growth rate of 13 percent, to $309.1 million in 2003 from $270.3 million in 2002. These results exclude CPCS, which was sold in February 2003 and is reported as discontinued operations in the accompanying financial information. The personal lines business posted mid-teen ChoicePoint Earnings Page 4 of 11 internal growth driven by marketplace acceptance of new products and increased unit volumes in the personal lines business. The overall growth rate for the segment during the quarter and the full year was impacted by a decline in internal revenues at Insurity due to the project-oriented nature of its operations. - Operating income in Insurance Services was $41.7 million for the fourth quarter of 2003, up 13 percent from $37.0 million in the prior year. Operating profit margin in Insurance Services for the quarter was 54.2 percent, compared to 53.9 percent in the fourth quarter of 2002. For the full year, operating income was $172.5 million, up 19 percent from $144.6 million in 2002, resulting in an operating margin of 55.8 percent, a 230 basis point improvement over 53.5 percent in 2002. The increase in operating income is due primarily to the revenue growth discussed above. BUSINESS & GOVERNMENT SERVICES - Total revenue increased 4 percent to $87.6 million in the fourth quarter of 2003 compared to $84.6 million in the prior year primarily due to growth from acquisitions and our nursery initiatives, which offset declines in our public records and workplace solutions product lines due to tougher homeland security revenue comparisons versus the fourth quarter of 2002. Internal revenue declined 7 percent for the fourth quarter of 2003 over the comparable period in 2002. For the year ended December 31, revenue increased 10 percent to $339.5 million in 2003 from $308.8 million in 2002. - Operating income in Business & Government Services was $18.3 million for the fourth quarter of 2003, down 9 percent from $20.1 million in the prior year primarily due to changes in product mix, a decline in the project-related homeland security revenues, and additional costs related to transitions during our public records and drug testing consolidations. Operating profit margin in Business & Government Services for the fourth quarter of 2003 was 20.9 percent. For the full year, operating income was $71.1 million, compared to $69.4 million in 2002, resulting in an operating margin of 20.9 percent in 2003 compared to 22.5 percent in 2002. ChoicePoint Earnings Page 5 of 11 MARKETING SERVICES - In the fourth quarter of 2003, revenue excluding reimbursable expenses decreased 15 percent from prior year revenue of $26.7 million to $22.8 million in 2003 due primarily to weakness in our print products and the downsizing of our e-mail marketing business. Internal revenue declined 19 percent. Total revenue for the Marketing segment (which includes all of the Company's revenue from reimbursable expenses) decreased 2 percent from $35.2 million in 2002 to $34.3 million in 2003. For the year ended December 31, revenue excluding reimbursable expenses decreased 9 percent, to $96.6 million in 2003 from $105.8 million in 2002, while internal revenue declined 15 percent, and total revenue declined 2 percent from $144.4 million in 2002 to $142.0 million in 2003. The Company excludes the revenue from reimbursable expenses in its operational analyses because these items are fully reimbursed by our customers without markup and have no impact on operating income, net income, EPS, cash flows or the balance sheet. - Operating income in Marketing Services was $4.0 million for the fourth quarter of 2003, down significantly from $7.7 million in the prior year due to lower revenues and high fixed costs. Fourth quarter operating profit margin, as a percentage of revenue without reimbursable expenses, was 17.5 percent (11.6 percent of total revenue). For the full year, operating income was $21.8 million, down 34 percent from $32.9 million in 2002, resulting in an operating margin of 22.6 percent in 2003 compared to 31.1 percent in 2002. OUTLOOK Based on recent business trends, ChoicePoint continues to expect full year core revenue growth to be in the 8 to 12 percent range, exclusive of any 2004 acquisitions. Additionally, the Company expects year-over-year margin expansion of up to 100 basis points based on these revenue assumptions and lower costs associated with the cost reduction initiatives implemented in 2003. ChoicePoint Earnings Page 6 of 11 WEBCAST ChoicePoint's fourth quarter results will be discussed in more detail on January 22, 2003, at 8:30 am EST via teleconference. The live audio Webcast of the call will be available on ChoicePoint's Web site at www.choicepoint.com. There will also be a replay of the call available beginning at approximately 10:00 am EST at the same Web address. About ChoicePoint ChoicePoint Inc. (NYSE: CPS) is the leading provider of identification and credential verification services for making smarter decisions in a world challenged by increased risks. Serving the needs of business, government, non-profit organizations and individuals, ChoicePoint works to create a safer and more secure society through the responsible use of information while ensuring the protection of personal privacy. For more information about ChoicePoint, visit the Company's Web site at www.choicepoint.com. Forward-Looking Statements Certain written statements in this release and oral statements made by or on behalf of the Company may constitute "forward-looking statements" as defined under the Private Securities Litigation Reform Act of 1995. Words or phrases such as "should result," "are expected to," "we anticipate," "we estimate," "we project," or similar expressions are intended to identify forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in any forward-looking statements. These risks and uncertainties include, but are not limited to, the following important factors: demand for the Company's services, product development, maintaining acceptable margins, ability to control costs, the impact of federal, state and local regulatory requirements on the Company's business, including the public records market and privacy matters affecting the Company, the impact of competition and the uncertainty of economic conditions in general. Additional information concerning these and other risks and uncertainties is contained in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2002. Readers are cautioned not to place undue reliance on forward-looking statements, since the statements speak only as of the date that they are made, and the Company undertakes no obligation to publicly update these statements based on events that may occur after the date of this press release. ChoicePoint Earnings Page 7 of 11 CHOICEPOINT INC. Financial Highlights

Three Months Ended Year Ended (Unaudited) December 31, December 31, --------------------- ---------------------- (Dollars in thousands, except per share data) 2003 2002 2003 2002 -------- -------- --------- -------- Core revenue (a)....................................................... $188,451 $181,093 $ 750,351 $690,731 Revenue from divested and discontinued product lines................... - - - 72 -------- -------- --------- -------- Revenue from products and services..................................... 188,451 181,093 750,351 690,803 Reimbursable expenses per EITF 01-14 (b)............................... 11,579 8,480 45,395 38,520 -------- -------- --------- -------- Total revenue.......................................................... 200,030 189,573 795,746 729,323 ======== ======== ========= ======== Cost of services....................................................... 102,412 93,887 402,148 360,131 Reimbursable expenses.................................................. 11,579 8,480 45,395 38,520 Selling, general and administrative expenses........................... 34,616 37,629 138,701 140,808 Other operating charges (c)............................................ 7,103 - 30,942 7,342 -------- -------- --------- -------- Total costs and expenses............................................... 155,710 139,996 617,186 546,801 Operating income....................................................... 44,320 49,577 178,560 182,522 Interest expense....................................................... 637 1,100 3,061 7,772 -------- -------- --------- -------- Income from continuing operations before income taxes.................. 43,683 48,477 175,499 174,750 Provision for income taxes............................................. 16,774 18,608 67,391 67,078 -------- -------- --------- -------- Income from continuing operations...................................... 26,909 29,869 108,108 107,672 Income from discontinued operations, net of taxes (d).................. - 1,585 991 6,571 Gain on sale of discontinued operations, net of taxes (d).............. - - 32,893 - Cumulative effect of change in accounting principle, net of taxes (e).. - - - (24,416) -------- -------- --------- -------- Net income ............................................................ $ 26,909 $ 31,454 $ 141,992 $ 89,827 ======== ======== ========= ======== EPS - diluted: Income from continuing operations................................. $ 0.30 $ 0.34 $ 1.21 $ 1.21 Discontinued operations, net of taxes............................. - $ 0.02 0.01 0.07 Gain on sale of discontinued operations, net of taxes............. - - 0.37 - Cumulative effect of change in accounting principle, net of taxes - - - (0.27) -------- -------- --------- -------- Net Income........................................................ $ 0.30 $ 0.35 $ 1.58 $ 1.01 ======== ======== ========= ======== Weighted average shares - diluted.................................... 89,923 89,064 89,686 89,194 ======== ======== ========= ======== Depreciation and amortization expense.................................. $ 13,225 $ 12,376 $ 53,120 $ 44,850 EBITDA (f)............................................................. $ 57,545 $ 61,953 $ 231,680 $227,372

ChoicePoint Earnings Page 8 of 11 CHOICEPOINT INC. Financial Highlights (continued) RECONCILIATION TO FINANCIAL INFORMATION EXCLUDING OTHER OPERATING CHARGES (C)

Three Months Ended Year Ended December 31, December 31, (Unaudited) ------------------ ----------------- (Dollars in thousands, except per share data) 2003 2002 2003 2002 -------- -------- -------- --------- Operating income..................................................... $ 44,320 $ 49,577 $178,560 $ 182,522 Add back other operating charges (c)................................. 7,103 - 30,942 7,342 -------- -------- -------- --------- Operating income before other operating charges...................... 51,423 49,577 209,502 189,864 Interest Expense..................................................... 637 1,100 3,061 7,772 -------- -------- -------- --------- Income from continuing operations before income taxes & other operating charges.................................................. 50,786 48,477 206,441 182,092 Provision for income taxes........................................... 19,502 18,608 79,273 69,896 -------- -------- -------- --------- Income from continuing operations before other operating charges..... $ 31,284 $ 29,869 $127,168 $ 112,196 ======== ======== ======== ========= Effective tax rate................................................... 38.4% 38.4% 38.4% 38.4% Earnings per share - diluted excluding other operating charges....... $ 0.35 $ 0.34 $ 1.42 $ 1.26 EBITDA excluding other operating charges (f)......................... $ 64,648 $ 61,953 $262,622 $ 234,714

(a) Core revenue excludes revenue from reimbursable expenses (see (b) below) and divested and discontinued product lines. The Company uses the core revenue metric to measure its continuing operations without the effect of reimbursable expenses. (b) Reimbursable expenses per Emerging Issues Task Force ("EITF") 01-14 represent out-of-pocket expenses fully reimbursed by ChoicePoint's customers and recorded as revenues and expenses in accordance with EITF 01-14 "Income Statement Characterization of Reimbursements Received for `Out-of-Pocket' Expenses Incurred". As these expenses are fully reimbursed, without mark-up, by our customers and in a majority of cases prepaid by the customers, there is no impact on operating income, net income, EPS, cash flows or the balance sheet. In addition, management excludes these expenses from its revenue analysis for operational management and incentive purposes; therefore, we have separately identified these expenses and excluded the impact of them from calculations of core revenue, internal revenue growth and operating margins. Other pass-through expenses such as motor vehicle registry fees will continue to be accounted for on a net basis and, as such, excluded from revenues in our financial statements in accordance with generally accepted accounting principles. Fourth quarter pass-through expenses totaled $148.4 million in 2003 and $125.3 million in 2002. Pass-through expenses totaled $597.6 million for the year ended December 31, 2003 and $491.7 million for the year ended December 31, 2002. (c) During the year ended December 31, 2003, the Company recorded other operating charges of $30.9 million ($19.1 million net of taxes) related to the previously announced realignment of our technology infrastructure and operations following the divestiture of our CPCS business, the transition to our new data center, the reengineering of certain of our direct marketing businesses and the further consolidation of some of our public records and workplace solutions operations. This $30.9 million charge included asset impairments of $21.3 million primarily related to closed facilities and abandoned technology in the realignment, $4.4 million in severance and termination benefits, and $5.2 million of abandoned lease and other contractual commitments. During the second quarter of 2002, the Company recorded other operating charges of $7.3 million ($4.5 million net of taxes). This charge included a write-down of minority investments in start-up companies of $2.4 million, asset impairments of technology initiatives of $3.0 million, $0.5 million in severance and termination benefits and $1.4 million of expenses primarily related to the closure of two facilities and remaining obligations. The Company has presented analysis with and without these items because they represent costs that management excludes in its assessments of operating results and in determining operational incentive awards. ChoicePoint Earnings Page 9 of 11 (d) On February 28, 2003, the Company sold its CPCS operating unit. The pre-tax proceeds from the sale of CPCS were approximately $87 million. CPCS is reported as a discontinued operation for all periods presented and the results of its operations are reflected separately from the results of continuing operations. (e) The change in accounting principle, net of taxes represents the goodwill impairment charge recorded by the Company retroactive to January 1, 2002 in accordance with Financial Accounting Standards Board ("FASB") Statement No. 142, "Goodwill and Other Intangible Assets," ("FASB Statement No. 142"). (f) Earnings before interest, taxes, depreciation and amortization ("EBITDA"), is not presented as a substitute for operating income, net income or cash flows from operating activities. The Company has included EBITDA and EBITDA excluding other operating charges data (which are not a measure of financial performance under generally accepted accounting principles) because such data are used by the Company to compare its performance to its competitors and to manage its on-going business and is also used by certain investors to analyze and compare companies on the basis of operating performance. CHOICEPOINT INC. Financial Highlights (continued)

Year Ended (Unaudited) December 31, ---------------------- (Dollars in thousands) 2003 2002 --------- --------- CASH FLOW HIGHLIGHTS Income from continuing operations......................................... $ 108,108 $ 107,672 Depreciation & amortization............................................... 53,120 44,850 Changes in assets & liabilties and other.................................. 33,059 6,192 --------- --------- Net cash provided by operating activities of continuing operations........ $ 194,287 $ 158,714 Net cash (used) provided by activities of discontinued operations......... $ (38,609) $ 10,036 Acquisitions & investments, net of cash acquired.......................... $ (93,567) $(186,990) Cash proceeds from sale of business....................................... 87,000 650 Capital expenditures...................................................... (41,931) (49,003) Other investing activities................................................ - - --------- --------- Net cash used by investing activities..................................... $ (48,498) $(235,343) Net cash (used) provided by financing activities......................... $(118,129) $ 47,919

KEY BALANCE SHEET HIGHLIGHTS December 31, 2003 ----------------- Debt..................................................................... $ 52,029 Cash..................................................................... 23,410 --------- Debt (net of cash)....................................................... $ 28,619 Shareholders' Equity..................................................... $ 790,495 Days sales outstanding (adjusted for pass through expenses).............. 39 days

ChoicePoint Earnings Page 10 of 11 CHOICEPOINT INC. 2003 SEGMENT RESULTS

Q1 2003 Q2 2003 Q3 2003 Q4 2003 Total 2003 --------- ------- ------- ------- ---------- REVENUE Insurance Services $ 76,134 $ 77,922 $ 78,100 $ 76,968 $ 309,124 Business & Government Services 80,995 83,792 87,080 87,616 339,483 Marketing Services 25,573 25,676 22,631 22,762 96,642 Royalty 1,303 1,389 1,305 1,105 5,102 --------- --------- --------- --------- --------- Core Revenue 184,005 188,779 189,116 188,451 750,351 Divested & Discontinued Product Lines - - - - - --------- --------- --------- --------- --------- Revenue from products and services 184,005 188,779 189,116 188,451 750,351 Reimbursable Expenses per EITF 01-14 10,944 10,470 12,402 11,579 45,395 --------- --------- --------- --------- --------- Total Revenue $ 194,949 $ 199,249 $ 201,518 $ 200,030 $ 795,746 ========= ========= ========= ========= ========= OPERATING INCOME Insurance Services $ 42,436 $ 44,364 $ 43,998 $ 41,720 $ 172,518 Business & Government Services 15,571 18,585 18,652 18,272 71,080 Marketing Services 6,908 7,374 3,580 3,987 21,849 Royalty 646 626 416 380 2,068 Divested & Discontinued Product Lines - - - - - Corporate & Shared Expenses (a) (13,758) (16,469) (14,850) (12,936) (58,013) --------- --------- --------- --------- --------- Operating Income before other charges (b) $ 51,803 $ 54,480 $ 51,796 $ 51,423 $ 209,502 ========= ========= ========= ========= ========= Other operating charges (b) - (19,817) (4,022) (7,103) (30,942) --------- --------- --------- --------- --------- Operating Income $ 51,803 $ 34,663 $ 47,774 $ 44,320 $ 178,560 ========= ========= ========= ========= ========= CORE REVENUE GROWTH RATES Insurance Services 18.7% 16.2% 10.8% 12.2% 14.4% Business & Government Services 17.2% 10.7% 9.8% 3.5% 10.0% Marketing Services 7.8% -8.1% -17.6% -14.7% -8.7% --------- --------- --------- --------- --------- Continuing operations 16.0% 9.6% 5.8% 4.1% 8.6% --------- --------- --------- --------- --------- INTERNAL REVENUE GROWTH RATES Insurance Services 17.2% 15.0% 10.1% 9.5% 12.8% Business & Government Services 3.9% -2.5% -3.9% -7.4% -2.8% Marketing Services -2.4% -13.6% -21.7% -18.7% -14.5% --------- --------- --------- --------- --------- Continuing operations 8.1% 2.4% -1.2% -2.6% 1.5% --------- --------- --------- --------- --------- OPERATING MARGINS Insurance Services 55.7% 56.9% 56.3% 54.2% 55.8% Business & Government Services 19.2% 22.2% 21.4% 20.9% 20.9% Marketing Services 27.0% 28.7% 15.8% 17.5% 22.6% --------- --------- --------- --------- --------- Operating income before other operating charges, percentage of revenue from products and services (b) 28.2% 28.9% 27.4% 27.3% 27.9% --------- --------- --------- --------- --------- Operating income, as a percentage of total revenue 26.6% 17.4% 23.7% 22.2% 22.4% --------- --------- --------- --------- ---------

(a) Corporate and shared expenses represent costs of support functions, research and development initiatives, incentives and profit sharing that benefit all three segments. (b) The Company has presented analysis above with and without these items because they represent costs that management excludes in its assessments of operating results and in determining operational incentive awards. ChoicePoint Earnings Page 11 of 11 CHOICEPOINT INC. 2002 SEGMENT RESULTS

Q1 2002 Q2 2002 Q3 2002 Q4 2002 Total 2002 --------- --------- --------- --------- ---------- REVENUE Insurance Services $ 64,140 $ 67,031 $ 70,495 $ 68,616 $ 270,282 Business & Government Services 69,116 75,713 79,307 84,625 308,761 Marketing Services 23,717 27,950 27,467 26,699 105,833 Royalty 1,597 1,542 1,563 1,153 5,855 --------- --------- --------- --------- --------- Core revenue 158,570 172,236 178,832 181,093 690,731 Divested & Discontinued Product Lines 72 - - - 72 --------- --------- --------- --------- --------- Revenue from products and services 158,642 172,236 178,832 181,093 690,803 Reimbursable Expenses per EITF 01-14 10,019 9,923 10,098 8,480 38,520 --------- --------- --------- --------- --------- Total Revenue $ 168,661 $ 182,159 $ 188,930 $ 189,573 $ 729,323 ========= ========= ========= ========= ========= OPERATING INCOME Insurance Services $ 35,024 $ 35,502 $ 37,163 $ 36,950 $ 144,639 Business & Government Services 12,520 17,293 19,549 20,062 69,424 Marketing Services 7,405 9,232 8,509 7,720 32,866 Royalty 997 933 932 464 3,326 Divested & Discontinued Product Lines (206) - - - (206) Corporate & Shared Expenses (11,518) (16,885) (16,163) (15,619) (60,185) --------- --------- --------- --------- --------- Operating Income before other charges $ 44,222 $ 46,075 $ 49,990 $ 49,577 $ 189,864 ========= ========= ========= ========= ========= Other operating charges - (7,342) - - (7,342) --------- --------- --------- --------- --------- Operating Income $ 44,222 $ 38,733 $ 49,990 $ 49,577 $ 182,522 ========= ========= ========= ========= ========= CORE REVENUE GROWTH RATES Insurance Services 18.2% 17.0% 20.0% 19.4% 18.7% Business & Government Services 11.6% 16.7% 12.3% 20.9% 15.5% Marketing Services 43.0% 73.1% 24.5% 23.2% 38.4% --------- --------- --------- --------- --------- Continuing operations 18.0% 22.9% 16.9% 20.1% 19.4% --------- --------- --------- --------- --------- INTERNAL REVENUE GROWTH RATES Insurance Services 17.5% 17.0% 18.5% 18.0% 17.8% Business & Government Services -3.8% 5.6% 12.3% 17.6% 8.4% Marketing Services 3.4% 5.4% 4.9% 6.7% 5.2% --------- --------- --------- --------- --------- Continuing operations 5.7% 10.0% 13.4% 15.6% 11.4% --------- --------- --------- --------- --------- OPERATING MARGINS Insurance Services 54.6% 53.0% 52.7% 53.9% 53.5% Business & Government Services 18.1% 22.8% 24.6% 23.7% 22.5% Marketing Services 31.2% 33.0% 31.0% 28.9% 31.1% --------- --------- --------- --------- --------- Operating income before other operating charges, as a percentage of revenue from products and services 27.9% 26.8% 28.0% 27.4% 27.5% --------- --------- --------- --------- --------- Operating income, as a percentage of total revenue 26.2% 21.3% 26.5% 26.2% 25.0% --------- --------- --------- --------- ---------

EX-99.2 4 g86885exv99w2.txt EX-99.2 SUPPLEMENTAL INFORMATION . . . Exhibit 99.2 CHOICEPOINT INC. OPERATING RESULTS BY QUARTER PROFORMA OPERATING INCOME WITHOUT GOODWILL AMORTIZATION (a)

Total Total Total 1998 1999 2000 Q1 2001 Q2 2001 --------- --------- --------- --------- --------- Insurance Services Revenue $ 148,017 $ 161,056 $ 189,822 $ 54,263 $ 57,283 Business & Government Svcs Revenue 150,169 187,999 233,270 61,921 64,875 Marketing Services Revenue 6,340 42,946 63,549 16,586 16,150 Royalty Revenue 6,636 6,219 6,364 1,657 1,807 --------- --------- --------- --------- --------- Core Revenue (c) $ 311,162 $ 398,220 $ 493,005 $ 134,427 $ 140,115 ========= ========= ========= ========= ========= Revenue from Divested & Discontinued Lines (b) 106,063 64,035 54,613 8,902 9,272 --------- --------- --------- --------- --------- Revenue from products and services (d) $ 417,225 $ 462,255 $ 547,618 $ 143,329 $ 149,387 Reimbursable Expenses per EITF 01-14 (d) 6,069 38,131 37,392 8,950 8,139 --------- --------- --------- --------- --------- Total Revenue $ 423,294 $ 500,386 $ 585,010 $ 152,279 $ 157,526 ========= ========= ========= ========= ========= Insurance Services Operating Income (a) $ 66,941 $ 78,335 $ 95,549 $ 27,257 $ 30,410 Business & Government Svcs Operating Income (a) 12,613 9,006 38,747 13,323 13,330 Marketing Services Operating Income (a) 1,819 12,856 23,460 5,390 6,772 Royalty Operating Income 3,903 3,483 3,804 1,051 1,191 Income from Reimbursable Expenses - - - - - Divested & Discontinued Operating Income (a) (b) 14,947 16,651 9,250 (279) 67 Corporate (27,611) (33,619) (43,503) (10,843) (13,929) --------- --------- --------- --------- --------- Operating Income before other operating charges $ 72,612 $ 86,712 $ 127,307 $ 35,899 $ 37,841 ========= ========= ========= ========= ========= Other operating charges (e) 5,049 513 (28,419) (17,865) - --------- --------- --------- --------- --------- OPERATING INCOME $ 77,661 $ 87,225 $ 98,888 $ 18,034 $ 37,841 ========= ========= ========= ========= ========= CORE REVENUE GROWTH RATE 28.0% 23.8% 14.7% 13.6% OPERATING MARGINS Insurance Services 45.2% 48.6% 50.3% 50.2% 53.1% Business & Government Services 8.4% 4.8% 16.6% 21.5% 20.5% Marketing Services 28.7% 29.9% 36.9% 32.5% 41.9% Divested & Discontinued Lines* 14.1% 26.0% 16.9% -3.1% 0.7% ChoicePoint excluding other operating charges, as a percentage of revenue from products and services (d) 17.4% 18.8% 23.2% 25.0% 25.3% OPERATING INCOME AS A PERCENTAGE OF REVENUE FROM PRODUCTS AND SERVICES (d) 18.6% 18.9% 18.1% 12.6% 25.3%

Total Q3 2001 Q4 2001 2001 Q1 2002 Q2 2002 --------- --------- --------- --------- --------- Insurance Services Revenue $ 58,734 $ 57,447 $ 227,727 $ 64,140 $ 67,031 Business & Government Svcs Revenue 70,608 70,005 267,409 69,116 75,713 Marketing Services Revenue 22,054 21,671 76,461 23,717 27,950 Royalty Revenue 1,630 1,714 6,808 1,597 1,542 --------- --------- --------- --------- --------- Core Revenue (c) $ 153,026 $ 150,837 $ 578,405 $ 158,570 $ 172,236 ========= ========= ========= ========= ========= Revenue from Divested & Discontinued Lines (b) 5,877 192 24,243 72 - --------- --------- --------- --------- --------- Revenue from products and services (d) $ 158,903 $ 151,029 $ 602,648 $ 158,642 $ 172,236 Reimbursable Expenses per EITF 01-14 (d) 10,816 10,123 38,028 10,019 9,923 --------- --------- --------- --------- --------- Total Revenue $ 169,719 $ 161,152 $ 640,676 $ 168,661 $ 182,159 ========= ========= ========= ========= ========= Insurance Services Operating Income (a) $ 31,945 $ 30,895 $ 120,507 $ 35,024 $ 35,502 Business & Government Svcs Operating Income (a) 13,633 15,917 56,203 12,520 17,293 Marketing Services Operating Income (a) 7,077 7,152 26,391 7,405 9,232 Royalty Operating Income 1,011 1,147 4,400 997 933 Income from Reimbursable Expenses - - - - - Divested & Discontinued Operating Income (a) (b) (464) (292) (968) (206) - Corporate (12,525) (11,981) (49,278) (11,518) (16,885) --------- --------- --------- --------- --------- Operating Income before other operating charges $ 40,677 $ 42,838 $ 157,255 $ 44,222 $ 46,075 ========= ========= ========= ========= ========= Other operating charges (e) (10,853) - (28,718) - (7,342) --------- --------- --------- --------- --------- OPERATING INCOME $ 29,824 $ 42,838 $ 128,537 $ 44,222 $ 38,733 ========= ========= ========= ========= ========= CORE REVENUE GROWTH RATE 20.9% 19.7% 17.3% 18.0% 22.9% OPERATING MARGINS Insurance Services 54.4% 53.8% 52.9% 54.6% 53.0% Business & Government Services 19.3% 22.7% 21.0% 18.1% 22.8% Marketing Services 32.1% 33.0% 34.5% 31.2% 33.0% Divested & Discontinued Lines* -7.9% -152.1% -4.0% -286.1% n/a ChoicePoint excluding other operating charges, as a percentage of revenue from products and services (d) 25.6% 28.4% 26.1% 27.9% 26.8% OPERATING INCOME AS A PERCENTAGE OF REVENUE FROM PRODUCTS AND SERVICES (d) 18.8% 28.4% 21.3% 27.9% 22.5%

Total Q3 2002 Q4 2002 2002 Q1 2003 Q2 2003 --------- --------- --------- --------- --------- Insurance Services Revenue $ 70,495 $ 68,616 $ 270,282 $ 76,134 $ 77,922 Business & Government Svcs Revenue 79,307 84,625 308,761 80,995 83,792 Marketing Services Revenue 27,467 26,699 105,833 25,573 25,676 Royalty Revenue 1,563 1,153 5,855 1,303 1,389 --------- --------- --------- --------- --------- Core Revenue (c) $ 178,832 $ 181,093 $ 690,731 $ 184,005 $ 188,779 ========= ========= ========= ========= ========= Revenue from Divested & Discontinued Lines (b) - - 72 - - --------- --------- --------- --------- --------- Revenue from products and services (d) $ 178,832 $ 181,093 $ 690,803 $ 184,005 $ 188,779 Reimbursable Expenses per EITF 01-14 (d) 10,098 8,480 38,520 10,944 10,470 --------- --------- --------- --------- --------- Total Revenue $ 188,930 $ 189,573 $ 729,323 $ 194,949 $ 199,249 ========= ========= ========= ========= ========= Insurance Services Operating Income (a) $ 37,163 $ 36,950 $ 144,639 $ 42,436 $ 44,364 Business & Government Svcs Operating Income (a) 19,549 20,062 69,424 15,571 18,585 Marketing Services Operating Income (a) 8,509 7,720 32,866 6,908 7,374 Royalty Operating Income 932 464 3,326 646 626 Income from Reimbursable Expenses - - - - - Divested & Discontinued Operating Income (a) (b) - - (206) - - Corporate (16,163) (15,619) (60,185) (13,758) (16,469) --------- --------- --------- --------- --------- Operating Income before other operating charges $ 49,990 $ 49,577 $ 189,864 $ 51,803 $ 54,480 ========= ========= ========= ========= ========= Other operating charges (e) - - (7,342) - (19,817) --------- --------- --------- --------- --------- OPERATING INCOME $ 49,990 $ 49,577 $ 182,522 $ 51,803 $ 34,663 ========= ========= ========= ========= ========= CORE REVENUE GROWTH RATE 16.9% 20.1% 19.4% 16.0% 9.6% OPERATING MARGINS Insurance Services 52.7% 53.9% 53.5% 55.7% 56.9% Business & Government Services 24.6% 23.7% 22.5% 19.2% 22.2% Marketing Services 31.0% 28.9% 31.1% 27.0% 28.7% Divested & Discontinued Lines* n/a n/a -286.1% n/a n/a ChoicePoint excluding other operating charges, as a percentage of revenue from products and services (d) 28.0% 27.4% 27.5% 28.2% 28.9% OPERATING INCOME AS A PERCENTAGE OF REVENUE FROM PRODUCTS AND SERVICES (d) 28.0% 27.4% 26.4% 28.2% 18.4%

Total Q3 2003 Q4 2003 2003 --------- --------- --------- Insurance Services Revenue $ 78,100 $ 76,968 $ 309,124 Business & Government Svcs Revenue 87,080 87,616 339,483 Marketing Services Revenue 22,631 22,762 96,642 Royalty Revenue 1,305 1,105 5,102 --------- --------- --------- Core Revenue (c) $ 189,116 $ 188,451 $ 750,351 ========= ========= ========= Revenue from Divested & Discontinued Lines (b) - - - --------- --------- --------- Revenue from products and services (d) $ 189,116 $ 188,451 $ 750,351 Reimbursable Expenses per EITF 01-14 (d) 12,402 11,579 45,395 --------- --------- --------- Total Revenue $ 201,518 $ 200,030 $ 795,746 ========= ========= ========= Insurance Services Operating Income (a) $ 43,998 $ 41,720 $ 172,518 Business & Government Svcs Operating Income (a) 18,652 18,272 71,080 Marketing Services Operating Income (a) 3,580 3,987 21,849 Royalty Operating Income 416 380 2,068 Income from Reimbursable Expenses - - - Divested & Discontinued Operating Income (a) (b) - - - Corporate (14,850) (12,936) (58,013) --------- --------- --------- Operating Income before other operating charges $ 51,796 $ 51,423 $ 209,502 ========= ========= ========= Other operating charges (e) (4,022) (7,103) (30,942) --------- --------- --------- OPERATING INCOME $ 47,774 $ 44,320 $ 178,560 ========= ========= ========= CORE REVENUE GROWTH RATE 5.8% 4.1% 8.6% OPERATING MARGINS Insurance Services 56.3% 54.2% 55.8% Business & Government Services 21.4% 20.9% 20.9% Marketing Services 15.8% 17.5% 22.6% Divested & Discontinued Lines* n/a n/a n/a ChoicePoint excluding other operating charges, as a percentage of revenue from products and services (d) 27.4% 27.3% 27.9% OPERATING INCOME AS A PERCENTAGE OF REVENUE FROM PRODUCTS AND SERVICES (d) 25.3% 23.5% 23.8%

(a) FASB Statement No. 142 discontinued the amortization of goodwill as of January 1, 2002. For comparison purposes, the above data excludes goodwill amortization in 1998-2001 as if FASB No. 142 was effective January 1, 1998. (b) Divested & Discontinued Lines represents products and lines of businesses that were discontinued or divested, but which do not qualify for discontinued operations accounting. (c) Core revenue represents revenue from continuing business lines and is used by management to assess and manage its on-going businesses and to determine operational incentive awards (d) Reimbursable expenses represent certain reimbursed out-of-pocket expenses that are presented on a gross basis in accordance with EITF 01-14. As these expenses are fully reimbursed, without mark-up, by our clients and in a majority of cases prepaid by the customers, there is no impact on operating income, net income, earnings per share, cash flows or the balance sheet; therefore, we have excluded the impact of these expenses in the calculation of operating margins, core revenue and internal growth (e) Other operating charges include merger-related costs, unusual items, realignment charges and gain (loss) on sale of business that management excludes in its assessments of operating results and in determining operational incentive awards CHOICEPOINT INC. OPERATING RESULTS BY QUARTER

Total Total Total 1998 1999 2000 Q1 2001 Q2 2001 --------- --------- --------- --------- --------- Insurance Services Revenue $ 148,017 $ 161,056 $ 189,822 $ 54,263 $ 57,283 Business & Government Svcs Revenue 150,169 187,999 233,270 61,921 64,875 Marketing Services Revenue 6,340 42,946 63,549 16,586 16,150 Royalty Revenue 6,636 6,219 6,364 1,657 1,807 --------- --------- --------- --------- --------- Core Revenue (b) $ 311,162 $ 398,220 $ 493,005 $ 134,427 $ 140,115 ========= ========= ========= ========= ========= Revenue from Divested & Discontinued Lines (a) 106,063 64,035 54,613 8,902 9,272 --------- --------- --------- --------- --------- Revenue from products and services (c) $ 417,225 $ 462,255 $ 547,618 $ 143,329 $ 149,387 Reimbursable Expenses per EITF 01-14 (c) 6,069 38,131 37,392 8,950 8,139 --------- --------- --------- --------- --------- Total Revenue $ 423,294 $ 500,386 $ 585,010 $ 152,279 $ 157,526 ========= ========= ========= ========= ========= Insurance Services Operating Income $ 66,387 $ 77,604 $ 94,892 $ 27,004 $ 30,125 Business & Government Svcs Operating Income 7,998 2,285 29,377 10,773 10,497 Marketing Services Operating Income 1,269 10,526 19,285 4,338 5,721 Royalty Operating Income 3,903 3,483 3,804 1,051 1,191 Income from Reimbursable Expenses - - - - - Divested & Discontinued Operating Income (a) 13,743 15,446 8,045 (580) (234) Corporate (27,611) (33,619) (43,503) (10,843) (13,929) --------- --------- --------- --------- --------- Operating Income before other operating charges $ 65,689 $ 75,725 $ 111,900 $ 31,743 $ 33,371 ========= ========= ========= ========= ========= Other operating charges (d) 5,049 513 (28,419) (17,865) - --------- --------- --------- --------- --------- OPERATING INCOME $ 70,738 $ 76,238 $ 83,481 $ 13,878 $ 33,371 ========= ========= ========= ========= ========= OPERATING MARGINS Insurance Services 44.9% 48.2% 50.0% 49.8% 52.6% Business & Government Services 5.3% 1.2% 12.6% 17.4% 16.2% Marketing Services 20.0% 24.5% 30.3% 26.2% 35.4% Divested & Discontinued Lines (a) 13.0% 24.1% 14.7% -6.5% -2.5% ChoicePoint excluding other operating charges, as a percentage of revenue from products and services (c) 15.7% 16.4% 20.4% 22.1% 22.3% OPERATING INCOME AS A PERCENTAGE OF REVENUE FROM PRODUCTS AND SERVICES (c) 17.0% 16.5% 15.2% 9.7% 22.3% OPERATING INCOME AS A PERCENTAGE OF TOTAL REVENUE 16.7% 15.2% 14.3% 9.1% 21.2% INTERNAL GROWTH RATES (e) Insurance Services 21.9% 18.4% 18.0% 14.9% 15.8% Business & Government Services 19.9% 15.0% 14.2% 8.6% 1.4% Marketing Services n/a n/a 17.0% 9.6% 2.1% Total ChoicePoint 20.3% 16.1% 15.8% 11.2% 7.1%

Total Q3 2001 Q4 2001 2001 Q1 2002 Q2 2002 --------- --------- --------- --------- --------- Insurance Services Revenue $ 58,734 $ 57,447 $ 227,727 $ 64,140 $ 67,031 Business & Government Svcs Revenue 70,608 70,005 267,409 69,116 75,713 Marketing Services Revenue 22,054 21,671 76,461 23,717 27,950 Royalty Revenue 1,630 1,714 6,808 1,597 1,542 --------- --------- --------- --------- --------- Core Revenue (b) $ 153,026 $ 150,837 $ 578,405 $ 158,570 $ 172,236 ========= ========= ========= ========= ========= Revenue from Divested & Discontinued Lines (a) 5,877 192 24,243 72 - --------- --------- --------- --------- --------- Revenue from products and services (c) $ 158,903 $ 151,029 $ 602,648 $ 158,642 $ 172,236 Reimbursable Expenses per EITF 01-14 (c) 10,816 10,123 38,028 10,019 9,923 --------- --------- --------- --------- --------- Total Revenue $ 169,719 $ 161,152 $ 640,676 $ 168,661 $ 182,159 ========= ========= ========= ========= ========= Insurance Services Operating Income $ 31,663 $ 30,615 $ 119,407 $ 35,024 $ 35,502 Business & Government Svcs Operating Income 10,769 13,050 45,089 12,520 17,293 Marketing Services Operating Income 6,025 6,101 22,185 7,405 9,232 Royalty Operating Income 1,011 1,147 4,400 997 933 Income from Reimbursable Expenses - - - - - Divested & Discontinued Operating Income (a) (665) (292) (1,771) (206) - Corporate (12,525) (11,981) (49,278) (11,518) (16,885) --------- --------- --------- --------- --------- Operating Income before other operating charges $ 36,278 $ 38,640 $ 140,032 $ 44,222 $ 46,075 ========= ========= ========= ========= ========= Other operating charges (d) (10,853) - (28,718) - (7,342) --------- --------- --------- --------- --------- OPERATING INCOME $ 25,425 $ 38,640 $ 111,314 $ 44,222 $ 38,733 ========= ========= ========= ========= ========= OPERATING MARGINS Insurance Services 53.9% 53.3% 52.4% 54.6% 53.0% Business & Government Services 15.3% 18.6% 16.9% 18.1% 22.8% Marketing Services 27.3% 28.2% 29.0% 31.2% 33.0% Divested & Discontinued Lines (a) -11.3% -152.1% -7.3% -286.1% n/a ChoicePoint excluding other operating charges, as a percentage of revenue from products and services (c) 22.8% 25.6% 23.2% 27.9% 26.8% OPERATING INCOME AS A PERCENTAGE OF REVENUE FROM PRODUCTS AND SERVICES (c) 16.0% 25.6% 18.5% 27.9% 22.5% OPERATING INCOME AS A PERCENTAGE OF TOTAL REVENUE 15.0% 24.0% 17.4% 26.2% 21.3% INTERNAL GROWTH RATES (e) Insurance Services 16.0% 18.5% 16.3% 17.5% 17.0% Business & Government Services -3.8% -5.6% -0.1% -3.8% 5.6% Marketing Services 2.3% -4.0% 2.3% 3.4% 5.4% Total ChoicePoint 4.6% 4.0% 6.6% 5.7% 10.0%

Total Q3 2002 Q4 2002 2002 Q1 2003 Q2 2003 --------- --------- --------- --------- --------- Insurance Services Revenue $ 70,495 $ 68,616 $ 270,282 $ 76,134 $ 77,922 Business & Government Svcs Revenue 79,307 84,625 308,761 80,995 83,792 Marketing Services Revenue 27,467 26,699 105,833 25,573 25,676 Royalty Revenue 1,563 1,153 5,855 1,303 1,389 --------- --------- --------- --------- --------- Core Revenue (b) $ 178,832 $ 181,093 $ 690,731 $ 184,005 $ 188,779 ========= ========= ========= ========= ========= Revenue from Divested & Discontinued Lines (a) - - 72 - - --------- --------- --------- --------- --------- Revenue from products and services (c) $ 178,832 $ 181,093 $ 690,803 $ 184,005 $ 188,779 Reimbursable Expenses per EITF 01-14 (c) 10,098 8,480 38,520 10,944 10,470 --------- --------- --------- --------- --------- Total Revenue $ 188,930 $ 189,573 $ 729,323 $ 194,949 $ 199,249 ========= ========= ========= ========= ========= Insurance Services Operating Income $ 37,163 $ 36,950 $ 144,639 $ 42,436 $ 44,364 Business & Government Svcs Operating Income 19,549 20,062 69,424 15,571 18,585 Marketing Services Operating Income 8,509 7,720 32,866 6,908 7,374 Royalty Operating Income 932 464 3,326 646 626 Income from Reimbursable Expenses - - - - - Divested & Discontinued Operating Income (a) - - (206) - - Corporate (16,163) (15,619) (60,185) (13,758) (16,469) --------- --------- --------- --------- --------- Operating Income before other operating charges $ 49,990 $ 49,577 $ 189,864 $ 51,803 $ 54,480 ========= ========= ========= ========= ========= Other operating charges (d) - - (7,342) - (19,817) --------- --------- --------- --------- --------- OPERATING INCOME $ 49,990 $ 49,577 $ 182,522 $ 51,803 $ 34,663 ========= ========= ========= ========= ========= OPERATING MARGINS Insurance Services 52.7% 53.9% 53.5% 55.7% 56.9% Business & Government Services 24.6% 23.7% 22.5% 19.2% 22.2% Marketing Services 31.0% 28.9% 31.1% 27.0% 28.7% Divested & Discontinued Lines (a) n/a n/a -286.1% n/a n/a ChoicePoint excluding other operating charges, as a percentage of revenue from products and services (c) 28.0% 27.4% 27.5% 28.2% 28.9% OPERATING INCOME AS A PERCENTAGE OF REVENUE FROM PRODUCTS AND SERVICES (c) 28.0% 27.4% 26.4% 28.2% 18.4% OPERATING INCOME AS A PERCENTAGE OF TOTAL REVENUE 26.5% 26.2% 25.0% 26.6% 17.4% INTERNAL GROWTH RATES (e) Insurance Services 18.5% 18.0% 17.8% 17.2% 15.0% Business & Government Services 12.3% 17.6% 8.4% 3.9% -2.5% Marketing Services 4.9% 6.7% 5.2% -2.4% -13.6% Total ChoicePoint 13.4% 15.6% 11.4% 8.1% 2.4%

Total Q3 2003 Q4 2003 2003 --------- --------- --------- Insurance Services Revenue $ 78,100 $ 76,968 $ 309,124 Business & Government Svcs Revenue 87,080 87,616 339,483 Marketing Services Revenue 22,631 22,762 96,642 Royalty Revenue 1,305 1,105 5,102 --------- --------- --------- Core Revenue (b) $ 189,116 $ 188,451 $ 750,351 ========= ========= ========= Revenue from Divested & Discontinued Lines (a) - - - --------- --------- --------- Revenue from products and services (c) $ 189,116 $ 188,451 $ 750,351 Reimbursable Expenses per EITF 01-14 (c) 12,402 11,579 45,395 --------- --------- --------- Total Revenue $ 201,518 $ 200,030 $ 795,746 ========= ========= ========= Insurance Services Operating Income $ 43,998 $ 41,720 $ 172,518 Business & Government Svcs Operating Income 18,652 18,272 71,080 Marketing Services Operating Income 3,580 3,987 21,849 Royalty Operating Income 416 380 2,068 Income from Reimbursable Expenses - - - Divested & Discontinued Operating Income (a) - - - Corporate (14,850) (12,936) (58,013) --------- --------- --------- Operating Income before other operating charges $ 51,796 $ 51,423 $ 209,502 ========= ========= ========= Other operating charges (d) (4,022) (7,103) (30,942) --------- --------- --------- OPERATING INCOME $ 47,774 $ 44,320 $ 178,560 ========= ========= ========= OPERATING MARGINS Insurance Services 56.3% 54.2% 55.8% Business & Government Services 21.4% 20.9% 20.9% Marketing Services 15.8% 17.5% 22.6% Divested & Discontinued Lines (a) n/a n/a n/a ChoicePoint excluding other operating charges, as a percentage of revenue from products and services (c) 27.4% 27.3% 27.9% OPERATING INCOME AS A PERCENTAGE OF REVENUE FROM PRODUCTS AND SERVICES (c) 25.3% 23.5% 23.8% OPERATING INCOME AS A PERCENTAGE OF TOTAL REVENUE 23.7% 22.2% 22.4% INTERNAL GROWTH RATES (e) Insurance Services 10.1% 9.5% 12.8% Business & Government Services -3.9% -7.4% -2.8% Marketing Services -21.7% -18.7% -14.5% Total ChoicePoint -1.2% -2.6% 1.5%

(a) Divested & Discontinued Lines represents products and lines of businesses that were discontinued or divested, but which do not qualify for discontinued operations accounting. (b) Core revenue represents revenue from continuing business lines and is used by management to assess and manage its on-going businesses and to determine operational incentive awards (c) Reimbursable expenses represent certain reimbursed out-of-pocket expenses that are presented on a gross basis in accordance with EITF 01-14. As these expenses are fully reimbursed, without mark-up, by our clients and in a majority of cases prepaid by the customers, there is no impact on operating income, net income, earnings per share, cash flows or the balance sheet; therefore, we have excluded the impact of these expenses in the calculation of operating margins, core revenue and internal growth (d) Other operating charges include merger-related costs, unusual items, realignment charges and gain (loss) on sale of business that management excludes in its assessments of operating results and in determining operational incentive awards (e) Internal revenue growth is the revenue growth from comparable business units for the same period in the prior year and excludes revenue from reimbursable expenses, acquisitions, divested and discontinued product lines and discontinued operations. This measure is used by management to analyze the performance of the business segments and as a criteria component for incentive compensation awards. CHOICEPOINT INC. OPERATING RESULTS BY QUARTER

Total Total Total 1998 1999 2000 Q1 2001 Q2 2001 --------- --------- --------- --------- --------- NET INCOME $ 42,315 $ 42,197 $ 43,822 $ 7,213 $ 19,921 EPS $ 0.52 $ 0.52 $ 0.52 $ 0.08 $ 0.23 Less: Cumulative change in accounting principle, net - - - - - Income from discontinued operations, net of tax 4,037 3,997 3,656 881 1,249 Gain on sale of discontinued operations, net - - - - - --------- --------- --------- --------- --------- Net income from continuing operations $ 38,278 $ 38,200 $ 40,166 $ 6,332 $ 18,672 EPS from continuing operations $ 0.47 $ 0.47 $ 0.48 $ 0.07 $ 0.21 Add back: goodwill amortization net of taxes (a) 5,401 9,397 12,885 3,118 3,198 Pro forma Net income from continuing operations (a) $ 43,679 $ 47,597 $ 53,051 $ 9,450 $ 21,870 ========= ========= ========= ========= ========= Pro forma EPS from continuing operations (a) $ 0.54 $ 0.58 $ 0.63 $ 0.11 $ 0.25 Add back: Other operating charges (b) (5,049) (513) 28,419 17,865 - Tax provision (benefit) related to other operating charges 2,114 (78) (8,604) (6,655) - --------- --------- --------- --------- --------- PRO FORMA INCOME FROM CONTINUING OPERATIONS EXCLUDING OTHER OPERATING CHARGES (a)(b) $ 40,744 $ 47,006 $ 72,866 $ 20,660 $ 21,870 ========= ========= ========= ========= ========= PRO FORMA EPS FROM CONTINUING OPERATIONS EXCLUDING OTHER OPERATING CHARGES (a)(b) $ 0.51 $ 0.58 $ 0.87 $ 0.24 $ 0.25 Wtd Avg Shares 80,616 81,591 84,139 86,264 86,873

Total Q3 2001 Q4 2001 2001 Q1 2002 Q2 2002 --------- --------- --------- --------- --------- NET INCOME $ 12 $ 23,188 $ 50,334 $ 2,998 $ 24,113 EPS $ 0.00 $ 0.26 $ 0.58 $ 0.03 $ 0.27 Less: Cumulative change in accounting principle, net - - - (24,416) - Income from discontinued operations, net of tax 1,208 1,294 4,632 1,575 1,707 Gain on sale of discontinued operations, net - - - - - --------- --------- --------- --------- --------- Net income from continuing operations $ (1,196) $ 21,894 $ 45,702 $ 25,839 $ 22,406 EPS from continuing operations $ (0.01) $ 0.25 $ 0.52 $ 0.29 $ 0.25 Add back: goodwill amortization net of taxes (a) 3,203 3,119 12,638 - - Pro forma Net income from continuing operations (a) $ 2,007 $ 25,013 $ 58,340 $ 25,839 $ 22,406 ========= ========= ========= ========= ========= Pro forma EPS from continuing operations (a) $ 0.02 $ 0.28 $ 0.67 $ 0.29 $ 0.25 Add back: Other operating charges (b) 10,853 - 28,718 - 7,342 Tax provision (benefit) related to other operating charges 10,534 - 3,879 - (2,818) --------- --------- --------- --------- --------- PRO FORMA INCOME FROM CONTINUING OPERATIONS EXCLUDING OTHER OPERATING CHARGES (a)(b) $ 23,394 $ 25,013 $ 90,937 $ 25,839 $ 26,930 ========= ========= ========= ========= ========= PRO FORMA EPS FROM CONTINUING OPERATIONS EXCLUDING OTHER OPERATING CHARGES (a)(b) $ 0.27 $ 0.28 $ 1.04 $ 0.29 $ 0.30 Wtd Avg Shares 87,457 88,101 87,151 88,969 89,692

Total Q3 2002 Q4 2002 2002 Q1 2003 Q2 2003 --------- --------- --------- --------- --------- NET INCOME $ 31,262 $ 31,454 $ 89,827 $ 65,175 $ 20,853 EPS $ 0.35 $ 0.35 $ 1.01 $ 0.73 $ 0.23 Less: Cumulative change in accounting principle, net - - (24,416) - - Income from discontinued operations, net of tax 1,704 1,585 6,571 991 - Gain on sale of discontinued operations, net - - - 32,893 - --------- --------- --------- --------- --------- Net income from continuing operations $ 29,558 $ 29,869 $ 107,672 $ 31,291 $ 20,853 EPS from continuing operations $ 0.33 $ 0.34 $ 1.21 $ 0.35 $ 0.23 Add back: goodwill amortization net of taxes (a) - - - - - Pro forma Net income from continuing operations (a) $ 29,558 $ 29,869 $ 107,672 $ 31,291 $ 20,853 ========= ========= ========= ========= ========= Pro forma EPS from continuing operations (a) $ 0.33 $ 0.34 $ 1.21 $ 0.35 $ 0.23 Add back: Other operating charges (b) - - 7,342 - 19,817 Tax provision (benefit) related to other operating charges - - (2,818) - (7,609) --------- --------- --------- --------- --------- PRO FORMA INCOME FROM CONTINUING OPERATIONS EXCLUDING OTHER OPERATING CHARGES (a)(b) $ 29,558 $ 29,869 $ 112,196 $ 31,291 $ 33,061 ========= ========= ========= ========= ========= PRO FORMA EPS FROM CONTINUING OPERATIONS EXCLUDING OTHER OPERATING CHARGES (a)(b) $ 0.33 $ 0.34 $ 1.26 $ 0.35 $ 0.37 Wtd Avg Shares 89,612 89,064 89,194 89,374 89,354

Total Q3 2003 Q4 2003 2003 --------- --------- --------- NET INCOME $ 29,055 $ 26,909 $ 141,992 EPS $ 0.32 $ 0.30 $ 1.58 Less: Cumulative change in accounting principle, net - - - Income from discontinued operations, net of tax - - 991 Gain on sale of discontinued operations, net - - 32,893 --------- --------- --------- Net income from continuing operations $ 29,055 $ 26,909 $ 108,108 EPS from continuing operations $ 0.32 $ 0.30 $ 1.21 Add back: goodwill amortization net of taxes (a) - - - Pro forma Net income from continuing operations (a) $ 29,055 $ 26,909 $ 108,108 ========= ========= ========= Pro forma EPS from continuing operations (a) $ 0.32 $ 0.30 $ 1.21 Add back: Other operating charges (b) 4,022 7,103 30,942 Tax provision (benefit) related to other operating charges (1,545) (2,728) (11,882) --------- --------- --------- PRO FORMA INCOME FROM CONTINUING OPERATIONS EXCLUDING OTHER OPERATING CHARGES (a)(b) $ 31,532 $ 31,284 $ 127,168 ========= ========= ========= PRO FORMA EPS FROM CONTINUING OPERATIONS EXCLUDING OTHER OPERATING CHARGES (a)(b) $ 0.35 $ 0.35 $ 1.42 Wtd Avg Shares 89,866 89,923 89,686

(a) FASB Statement No. 142 discontinued the amortization of goodwill as of January 1, 2002. For comparison purposes, the above data excludes goodwill amortization in 1998-2001 as if FASB No. 142 was effective January 1, 1998. (b) Other operating charges include merger-related costs, unusual items, realignment charges and gain (loss) on sale of business that management excludes in its assessments of operating results and in determining operational incentive awards and include the following components which are more fully described in our Annual Report on Form 10-K for the applicable years:

Total Total Total 1998 1999 2000 Q1 2001 Q2 2001 --------- --------- --------- --------- --------- Merger transaction costs - - 11,579 - - Merger personnel related costs 838 - 3,780 1,832 - Other merger integration costs - - 3,629 2,433 - Write down of minority investments - 817 - - - Asset impairments 2,920 732 6,954 12,693 - Nonmerger severance - 451 1,885 838 - Other one-time charges - - 592 69 - (Gain) loss on sale of business (8,807) (2,513) - - - --------- --------- --------- --------- --------- Total other operating charges (5,049) (513) 28,419 17,865 - ========= ========= ========= ========= =========

Total Q3 2001 Q4 2001 2001 Q1 2002 Q2 2002 --------- --------- --------- --------- --------- Merger transaction costs - - - - - Merger personnel related costs - - 1,832 - - Other merger integration costs - - 2,433 - - Write down of minority investments - - - - 2,370 Asset impairments - - 12,693 - 2,985 Nonmerger severance - - 838 - 567 Other one-time charges - - 69 - 1,420 (Gain) loss on sale of business 10,853 - 10,853 - - --------- --------- --------- --------- --------- Total other operating charges 10,853 - 28,718 - 7,342 ========= ========= ========= ========= =========

Total Q3 2002 Q4 2002 2002 Q1 2003 Q2 2003 --------- --------- --------- --------- --------- Merger transaction costs - - - - - Merger personnel related costs - - - - - Other merger integration costs - - - - - Write down of minority investments - - 2,370 - - Asset impairments - - 2,985 - 12,490 Nonmerger severance - - 567 - 2,848 Other one-time charges - - 1,420 - 4,479 (Gain) loss on sale of business - - - - - --------- --------- --------- --------- --------- Total other operating charges - - 7,342 - 19,817 ========= ========= ========= ========= =========

Total Q3 2003 Q4 2003 2003 --------- --------- --------- Merger transaction costs - - - Merger personnel related costs - - - Other merger integration costs - - - Write down of minority investments - - - Asset impairments 3,015 5,845 21,350 Nonmerger severance 882 624 4,354 Other one-time charges 125 634 5,238 (Gain) loss on sale of business - - - --------- --------- --------- Total other operating charges 4,022 7,103 30,942 ========= ========= =========

-----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

                                                                    EXHIBIT 99.1

FOR IMMEDIATE RELEASE

Contact: John Mongelli
         Investor Relations
         (770) 752-6171

         CHOICEPOINT(R) REPORTS FOURTH QUARTER AND 2003 FULL YEAR RESULTS

ALPHARETTA, GA. - JANUARY 22, 2004- ChoicePoint Inc. (NYSE: CPS), today reported
fourth quarter total revenue of $200.0 million, reflecting revenue growth over
the comparable period of 2002 of 5 percent. For the full year, total revenue was
a record $795.7 million, a 9 percent increase over comparable revenue in 2002.

Earnings per share ("EPS") for the fourth quarter was $0.30 per share which
includes the $0.05 per share dilutive effect of the previously announced
repositioning of certain of our operations. Consistent with the previously
announced consolidation of some of our public records and workplace solutions
operations and the reengineering of certain of our direct marketing businesses,
the Company recorded an additional other operating charge of $7.1 million ($4.4
million after tax) during the fourth quarter of 2003. Excluding the effect of
this charge, EPS would have been $0.35 per share. Full year EPS was $1.58
compared to $1.01 in 2002, an increase of 57 percent. Full year EPS from
continuing operations excluding the other operating charge ($30.9 million, $19.1
million after tax) was $1.42 in 2003, a 13 percent increase over $1.26 in 2002.

"During the quarter, we continued to see improving underlying trends in our core
businesses which positions us for a solid 2004" commented Derek V. Smith,
Chairman and CEO. "Looking ahead, I am excited about the momentum I am seeing
and the tremendous opportunities for ChoicePoint to leverage our unique
capabilities."

Chief Financial Officer Steven W. Surbaugh added, "I am pleased that we achieved
total revenue growth of 9 percent and delivered 13 percent growth in earnings
despite weaknesses in our Marketing Services segment and tough homeland security
revenue comparisons. Importantly, our earnings continue to turn to cash as
evidenced by our outstanding 39 percent growth in net



ChoicePoint Earnings
Page 2 of 11

free cash flow, and we were able to lower our net debt to record levels. We
continue to have outstanding cash flows and a very strong balance sheet."

FINANCIAL HIGHLIGHTS - FOURTH QUARTER

         -        Core revenue increased 4 percent to $188.5 million for the
                  fourth quarter of 2003 from $181.1 million for the fourth
                  quarter of 2002. Internal revenue (which represents core
                  revenue less revenue from acquisitions) for the fourth quarter
                  of 2003 declined 3 percent from the fourth quarter of 2002,
                  primarily related to the continued weakness in our Marketing
                  Services businesses, including our e-mail business, and
                  tougher homeland security revenue comparisons. Fourth quarter
                  2003 total revenue increased 5 percent to $200.0 million from
                  $189.6 million in 2002.

         -        Operating income was $44.3 million for the fourth quarter of
                  2003 compared to $49.6 million for the fourth quarter of 2002.
                  Excluding the other operating charges discussed below,
                  operating income was $51.4 million for the fourth quarter of
                  2003, an increase of 4 percent from 2002.

         -        In the fourth quarter of 2003, the Company recorded an
                  additional pre-tax charge of $7.1 million ($4.4 million net of
                  taxes) primarily related to the previously announced
                  consolidation of some of our public records and workplace
                  solutions operations and the reengineering of certain of our
                  direct marketing businesses.

         -        During the quarter ended December 31, 2003, the Company
                  acquired CITI Network, Inc. d/b/a Applicant Screening and
                  Processing (ASAP), a provider of residential screening
                  services to apartment communities located in Florida.

FINANCIAL HIGHLIGHTS - FULL YEAR

         -        Core revenue increased 9 percent to $750.4 million for the
                  year ended December 31, 2003 from $690.7 million for 2002.
                  Internal revenue increased 2 percent from 2002, as weakness in
                  our print and e-mail marketing businesses and our very strong
                  homeland security revenues in 2002 were offset by strong
                  growth in our personal lines business. 2003 total revenue
                  increased 9 percent to $795.7 million from $729.3 million in
                  2002.

         -        Operating income was $178.6 million for the year ended
                  December 31, 2003 compared to $182.5 million for 2002.
                  Excluding the other operating charges discussed below,



ChoicePoint Earnings
Page 3 of 11

                  operating income was $209.5 million for 2003 compared to
                  $189.9 million for 2002, an increase of 10 percent from 2002.

         -        During 2003, the Company recorded a $61.2 million pre-tax gain
                  on the sale of our CP Commercial Specialists ("CPCS") business
                  ($32.9 million after tax) and pre-tax other operating charges
                  totaling $30.9 million ($19.1 million net of taxes) related to
                  the previously announced realignment of our technology
                  infrastructure and operations following the divestiture of our
                  CPCS business, the transition to our new data center, the
                  reengineering of certain of our direct marketing businesses
                  and the further consolidation of some of our public records
                  and workplace solutions businesses. These initiatives were
                  concluded in the fourth quarter of 2003. During the second
                  quarter of 2002, the Company recorded a pre-tax charge of $7.3
                  million ($4.5 million net of taxes) primarily related to a
                  write-down of minority investments in start-up companies and
                  expenses primarily related to the closure of two facilities
                  and remaining obligations.

         -        Free cash flow (net cash provided by operating activities of
                  continuing operations of $194.3 million less capital
                  expenditures of $41.9 million) was a very strong and record
                  $152.4 million for the year ended December 31, 2003, an
                  increase of $42.6 million compared to $109.7 million for 2002.

         -        Net debt (total debt less cash) for the year ended December
                  31, 2003, decreased by $119.5 million to a historically low
                  $28.6 million as we used proceeds from the first quarter sale
                  of CPCS and cash from operations to reduce indebtedness. Our
                  additional remaining debt capacity under our committed
                  financing lines is approximately $375 million.

OPERATIONAL HIGHLIGHTS

INSURANCE SERVICES

         -        Total revenue increased 12 percent to $77.0 million in the
                  fourth quarter of 2003 compared to $68.6 million in the prior
                  year, including an internal revenue growth rate of 10 percent.
                  For the year ended December 31, revenue increased 14 percent,
                  with an internal revenue growth rate of 13 percent, to $309.1
                  million in 2003 from $270.3 million in 2002. These results
                  exclude CPCS, which was sold in February 2003 and is reported
                  as discontinued operations in the accompanying financial
                  information. The personal lines business posted mid-teen



ChoicePoint Earnings
Page 4 of 11

                  internal growth driven by marketplace acceptance of new
                  products and increased unit volumes in the personal lines
                  business. The overall growth rate for the segment during the
                  quarter and the full year was impacted by a decline in
                  internal revenues at Insurity due to the project-oriented
                  nature of its operations.

         -        Operating income in Insurance Services was $41.7 million for
                  the fourth quarter of 2003, up 13 percent from $37.0 million
                  in the prior year. Operating profit margin in Insurance
                  Services for the quarter was 54.2 percent, compared to 53.9
                  percent in the fourth quarter of 2002. For the full year,
                  operating income was $172.5 million, up 19 percent from $144.6
                  million in 2002, resulting in an operating margin of 55.8
                  percent, a 230 basis point improvement over 53.5 percent in
                  2002. The increase in operating income is due primarily to the
                  revenue growth discussed above.

BUSINESS & GOVERNMENT SERVICES

         -        Total revenue increased 4 percent to $87.6 million in the
                  fourth quarter of 2003 compared to $84.6 million in the prior
                  year primarily due to growth from acquisitions and our nursery
                  initiatives, which offset declines in our public records and
                  workplace solutions product lines due to tougher homeland
                  security revenue comparisons versus the fourth quarter of
                  2002. Internal revenue declined 7 percent for the fourth
                  quarter of 2003 over the comparable period in 2002. For the
                  year ended December 31, revenue increased 10 percent to $339.5
                  million in 2003 from $308.8 million in 2002.

         -        Operating income in Business & Government Services was $18.3
                  million for the fourth quarter of 2003, down 9 percent from
                  $20.1 million in the prior year primarily due to changes in
                  product mix, a decline in the project-related homeland
                  security revenues, and additional costs related to transitions
                  during our public records and drug testing consolidations.
                  Operating profit margin in Business & Government Services for
                  the fourth quarter of 2003 was 20.9 percent. For the full
                  year, operating income was $71.1 million, compared to $69.4
                  million in 2002, resulting in an operating margin of 20.9
                  percent in 2003 compared to 22.5 percent in 2002.



ChoicePoint Earnings
Page 5 of 11

MARKETING SERVICES

         -        In the fourth quarter of 2003, revenue excluding reimbursable
                  expenses decreased 15 percent from prior year revenue of $26.7
                  million to $22.8 million in 2003 due primarily to weakness in
                  our print products and the downsizing of our e-mail marketing
                  business. Internal revenue declined 19 percent. Total revenue
                  for the Marketing segment (which includes all of the Company's
                  revenue from reimbursable expenses) decreased 2 percent from
                  $35.2 million in 2002 to $34.3 million in 2003. For the year
                  ended December 31, revenue excluding reimbursable expenses
                  decreased 9 percent, to $96.6 million in 2003 from $105.8
                  million in 2002, while internal revenue declined 15 percent,
                  and total revenue declined 2 percent from $144.4 million in
                  2002 to $142.0 million in 2003. The Company excludes the
                  revenue from reimbursable expenses in its operational analyses
                  because these items are fully reimbursed by our customers
                  without markup and have no impact on operating income, net
                  income, EPS, cash flows or the balance sheet.

         -        Operating income in Marketing Services was $4.0 million for
                  the fourth quarter of 2003, down significantly from $7.7
                  million in the prior year due to lower revenues and high fixed
                  costs. Fourth quarter operating profit margin, as a percentage
                  of revenue without reimbursable expenses, was 17.5 percent
                  (11.6 percent of total revenue). For the full year, operating
                  income was $21.8 million, down 34 percent from $32.9 million
                  in 2002, resulting in an operating margin of 22.6 percent in
                  2003 compared to 31.1 percent in 2002.

OUTLOOK

Based on recent business trends, ChoicePoint continues to expect full year core
revenue growth to be in the 8 to 12 percent range, exclusive of any 2004
acquisitions. Additionally, the Company expects year-over-year margin expansion
of up to 100 basis points based on these revenue assumptions and lower costs
associated with the cost reduction initiatives implemented in 2003.



ChoicePoint Earnings
Page 6 of 11

WEBCAST

ChoicePoint's fourth quarter results will be discussed in more detail on January
22, 2003, at 8:30 am EST via teleconference. The live audio Webcast of the call
will be available on ChoicePoint's Web site at www.choicepoint.com. There will
also be a replay of the call available beginning at approximately 10:00 am EST
at the same Web address.

About ChoicePoint

ChoicePoint Inc. (NYSE: CPS) is the leading provider of identification and
credential verification services for making smarter decisions in a world
challenged by increased risks. Serving the needs of business, government,
non-profit organizations and individuals, ChoicePoint works to create a safer
and more secure society through the responsible use of information while
ensuring the protection of personal privacy. For more information about
ChoicePoint, visit the Company's Web site at www.choicepoint.com.

Forward-Looking Statements

Certain written statements in this release and oral statements made by or on
behalf of the Company may constitute "forward-looking statements" as defined
under the Private Securities Litigation Reform Act of 1995. Words or phrases
such as "should result," "are expected to," "we anticipate," "we estimate," "we
project," or similar expressions are intended to identify forward-looking
statements. These statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those expressed in any
forward-looking statements. These risks and uncertainties include, but are not
limited to, the following important factors: demand for the Company's services,
product development, maintaining acceptable margins, ability to control costs,
the impact of federal, state and local regulatory requirements on the Company's
business, including the public records market and privacy matters affecting the
Company, the impact of competition and the uncertainty of economic conditions in
general. Additional information concerning these and other risks and
uncertainties is contained in the Company's filings with the Securities and
Exchange Commission, including the Company's Annual Report on Form 10-K for the
year ended December 31, 2002. Readers are cautioned not to place undue reliance
on forward-looking statements, since the statements speak only as of the date
that they are made, and the Company undertakes no obligation to publicly update
these statements based on events that may occur after the date of this press
release.



ChoicePoint Earnings
Page 7 of 11

                                CHOICEPOINT INC.
                              Financial Highlights



                                                                               Three Months Ended             Year Ended
(Unaudited)                                                                        December 31,               December 31,
                                                                              ---------------------      ----------------------
(Dollars in thousands, except per share data)                                   2003         2002           2003         2002
                                                                              --------     --------      ---------     --------
                                                                                                           
Core revenue (a).......................................................       $188,451     $181,093      $ 750,351     $690,731
Revenue from divested and discontinued product lines...................              -            -              -           72
                                                                              --------     --------      ---------     --------
Revenue from products and services.....................................        188,451      181,093        750,351      690,803
Reimbursable expenses per EITF 01-14 (b)...............................         11,579        8,480         45,395       38,520
                                                                              --------     --------      ---------     --------
Total revenue..........................................................        200,030      189,573        795,746      729,323
                                                                              ========     ========      =========     ========

Cost of services.......................................................        102,412       93,887        402,148      360,131
Reimbursable expenses..................................................         11,579        8,480         45,395       38,520
Selling, general and administrative expenses...........................         34,616       37,629        138,701      140,808
Other operating charges (c)............................................          7,103            -         30,942        7,342
                                                                              --------     --------      ---------     --------
Total costs and expenses...............................................        155,710      139,996        617,186      546,801
Operating income.......................................................         44,320       49,577        178,560      182,522
Interest expense.......................................................            637        1,100          3,061        7,772
                                                                              --------     --------      ---------     --------
Income from continuing operations before income taxes..................         43,683       48,477        175,499      174,750
Provision for income taxes.............................................         16,774       18,608         67,391       67,078
                                                                              --------     --------      ---------     --------
Income from continuing operations......................................         26,909       29,869        108,108      107,672
Income from discontinued operations, net of taxes (d)..................              -        1,585            991        6,571
Gain on sale of discontinued operations, net of taxes (d)..............              -            -         32,893            -
Cumulative effect of change in accounting principle, net of taxes (e)..              -            -              -      (24,416)
                                                                              --------     --------      ---------     --------
Net income ............................................................       $ 26,909     $ 31,454      $ 141,992     $ 89,827
                                                                              ========     ========      =========     ========

EPS - diluted:
     Income from continuing operations.................................       $   0.30     $   0.34      $    1.21     $   1.21
     Discontinued operations, net of taxes.............................              -     $   0.02           0.01         0.07
     Gain on sale of discontinued operations, net of taxes.............              -            -           0.37            -
     Cumulative effect of change in accounting principle, net of taxes               -            -              -        (0.27)
                                                                              --------     --------      ---------     --------
     Net Income........................................................       $   0.30     $   0.35      $    1.58     $   1.01
                                                                              ========     ========      =========     ========
  Weighted average shares - diluted....................................         89,923       89,064         89,686       89,194
                                                                              ========     ========      =========     ========

Depreciation and amortization expense..................................       $ 13,225     $ 12,376      $  53,120     $ 44,850
EBITDA (f).............................................................       $ 57,545     $ 61,953      $ 231,680     $227,372




ChoicePoint Earnings
Page 8 of 11

                                CHOICEPOINT INC.
                        Financial Highlights (continued)

RECONCILIATION TO FINANCIAL INFORMATION EXCLUDING OTHER OPERATING CHARGES (C)



                                                                           Three Months Ended              Year Ended
                                                                               December 31,               December 31,
(Unaudited)                                                                ------------------           -----------------
(Dollars in thousands, except per share data)                               2003         2002           2003         2002
                                                                          --------     --------       --------    ---------
                                                                                                      
Operating income.....................................................     $ 44,320     $ 49,577       $178,560    $ 182,522
Add back other operating charges (c).................................        7,103            -         30,942        7,342
                                                                          --------     --------       --------    ---------
Operating income before other operating charges......................       51,423       49,577        209,502      189,864
Interest Expense.....................................................          637        1,100          3,061        7,772
                                                                          --------     --------       --------    ---------
Income from continuing operations before income taxes & other
  operating charges..................................................       50,786       48,477        206,441      182,092
Provision for income taxes...........................................       19,502       18,608         79,273       69,896
                                                                          --------     --------       --------    ---------
Income from continuing operations before other operating charges.....     $ 31,284     $ 29,869       $127,168    $ 112,196
                                                                          ========     ========       ========    =========
Effective tax rate...................................................         38.4%        38.4%          38.4%        38.4%
Earnings per share - diluted excluding other operating charges.......     $   0.35     $   0.34       $   1.42    $    1.26

EBITDA excluding other operating charges (f).........................     $ 64,648     $ 61,953       $262,622    $ 234,714


(a)      Core revenue excludes revenue from reimbursable expenses (see (b)
         below) and divested and discontinued product lines. The Company uses
         the core revenue metric to measure its continuing operations without
         the effect of reimbursable expenses.

(b)      Reimbursable expenses per Emerging Issues Task Force ("EITF") 01-14
         represent out-of-pocket expenses fully reimbursed by ChoicePoint's
         customers and recorded as revenues and expenses in accordance with EITF
         01-14 "Income Statement Characterization of Reimbursements Received for
         `Out-of-Pocket' Expenses Incurred". As these expenses are fully
         reimbursed, without mark-up, by our customers and in a majority of
         cases prepaid by the customers, there is no impact on operating income,
         net income, EPS, cash flows or the balance sheet. In addition,
         management excludes these expenses from its revenue analysis for
         operational management and incentive purposes; therefore, we have
         separately identified these expenses and excluded the impact of them
         from calculations of core revenue, internal revenue growth and
         operating margins. Other pass-through expenses such as motor vehicle
         registry fees will continue to be accounted for on a net basis and, as
         such, excluded from revenues in our financial statements in accordance
         with generally accepted accounting principles. Fourth quarter
         pass-through expenses totaled $148.4 million in 2003 and $125.3 million
         in 2002. Pass-through expenses totaled $597.6 million for the year
         ended December 31, 2003 and $491.7 million for the year ended December
         31, 2002.

(c)      During the year ended December 31, 2003, the Company recorded other
         operating charges of $30.9 million ($19.1 million net of taxes) related
         to the previously announced realignment of our technology
         infrastructure and operations following the divestiture of our CPCS
         business, the transition to our new data center, the reengineering of
         certain of our direct marketing businesses and the further
         consolidation of some of our public records and workplace solutions
         operations. This $30.9 million charge included asset impairments of
         $21.3 million primarily related to closed facilities and abandoned
         technology in the realignment, $4.4 million in severance and
         termination benefits, and $5.2 million of abandoned lease and other
         contractual commitments. During the second quarter of 2002, the Company
         recorded other operating charges of $7.3 million ($4.5 million net of
         taxes). This charge included a write-down of minority investments in
         start-up companies of $2.4 million, asset impairments of technology
         initiatives of $3.0 million, $0.5 million in severance and termination
         benefits and $1.4 million of expenses primarily related to the closure
         of two facilities and remaining obligations. The Company has presented
         analysis with and without these items because they represent costs that
         management excludes in its assessments of operating results and in
         determining operational incentive awards.



ChoicePoint Earnings
Page 9 of 11

(d)      On February 28, 2003, the Company sold its CPCS operating unit. The
         pre-tax proceeds from the sale of CPCS were approximately $87 million.
         CPCS is reported as a discontinued operation for all periods presented
         and the results of its operations are reflected separately from the
         results of continuing operations.

(e)      The change in accounting principle, net of taxes represents the
         goodwill impairment charge recorded by the Company retroactive to
         January 1, 2002 in accordance with Financial Accounting Standards Board
         ("FASB") Statement No. 142, "Goodwill and Other Intangible Assets,"
         ("FASB Statement No. 142").

(f)      Earnings before interest, taxes, depreciation and amortization
         ("EBITDA"), is not presented as a substitute for operating income, net
         income or cash flows from operating activities. The Company has
         included EBITDA and EBITDA excluding other operating charges data
         (which are not a measure of financial performance under generally
         accepted accounting principles) because such data are used by the
         Company to compare its performance to its competitors and to manage its
         on-going business and is also used by certain investors to analyze and
         compare companies on the basis of operating performance.

                                CHOICEPOINT INC.
                        Financial Highlights (continued)



                                                                                      Year Ended
(Unaudited)                                                                           December 31,
                                                                                 ----------------------
(Dollars in thousands)                                                             2003         2002
                                                                                 ---------    ---------
                                                                                        
CASH FLOW HIGHLIGHTS
Income from continuing operations.........................................       $ 108,108    $ 107,672
Depreciation & amortization...............................................          53,120       44,850
Changes in assets & liabilties and other..................................          33,059        6,192
                                                                                 ---------    ---------
Net cash provided by operating activities of continuing operations........       $ 194,287    $ 158,714
Net cash (used) provided by activities of discontinued operations.........       $ (38,609)   $  10,036

Acquisitions & investments, net of cash acquired..........................       $ (93,567)   $(186,990)
Cash proceeds from sale of business.......................................          87,000          650
Capital expenditures......................................................         (41,931)     (49,003)
Other investing activities................................................               -            -
                                                                                 ---------    ---------
Net cash used by investing activities.....................................       $ (48,498)   $(235,343)

Net cash (used) provided  by financing activities.........................       $(118,129)   $  47,919




KEY BALANCE SHEET HIGHLIGHTS                                                 December 31, 2003
                                                                             -----------------
                                                                          
Debt.....................................................................        $  52,029
Cash.....................................................................           23,410
                                                                                 ---------
Debt (net of cash).......................................................        $  28,619
Shareholders' Equity.....................................................        $ 790,495
Days sales outstanding (adjusted for pass through expenses)..............          39 days




ChoicePoint Earnings
Page 10 of 11

                                CHOICEPOINT INC.
                              2003 SEGMENT RESULTS



                                             Q1 2003       Q2 2003       Q3 2003       Q4 2003     Total 2003
                                            ---------      -------       -------       -------     ----------
                                                                                    
REVENUE
Insurance Services                          $  76,134     $  77,922     $  78,100     $  76,968     $ 309,124
Business & Government Services                 80,995        83,792        87,080        87,616       339,483
Marketing Services                             25,573        25,676        22,631        22,762        96,642
Royalty                                         1,303         1,389         1,305         1,105         5,102
                                            ---------     ---------     ---------     ---------     ---------
  Core Revenue                                184,005       188,779       189,116       188,451       750,351
Divested & Discontinued Product Lines               -             -             -             -             -
                                            ---------     ---------     ---------     ---------     ---------
  Revenue from products and services          184,005       188,779       189,116       188,451       750,351
Reimbursable Expenses per EITF 01-14           10,944        10,470        12,402        11,579        45,395
                                            ---------     ---------     ---------     ---------     ---------
  Total Revenue                             $ 194,949     $ 199,249     $ 201,518     $ 200,030     $ 795,746
                                            =========     =========     =========     =========     =========
OPERATING INCOME
Insurance Services                          $  42,436     $  44,364     $  43,998     $  41,720     $ 172,518
Business & Government Services                 15,571        18,585        18,652        18,272        71,080
Marketing Services                              6,908         7,374         3,580         3,987        21,849
Royalty                                           646           626           416           380         2,068
Divested & Discontinued Product Lines               -             -             -             -             -
Corporate & Shared Expenses (a)               (13,758)      (16,469)      (14,850)      (12,936)      (58,013)
                                            ---------     ---------     ---------     ---------     ---------
  Operating Income before other charges (b) $  51,803     $  54,480     $  51,796     $  51,423     $ 209,502
                                            =========     =========     =========     =========     =========
  Other operating charges (b)                       -       (19,817)       (4,022)       (7,103)      (30,942)
                                            ---------     ---------     ---------     ---------     ---------
  Operating Income                          $  51,803     $  34,663     $  47,774     $  44,320     $ 178,560
                                            =========     =========     =========     =========     =========
CORE REVENUE GROWTH RATES
Insurance Services                               18.7%         16.2%         10.8%         12.2%         14.4%
Business & Government Services                   17.2%         10.7%          9.8%          3.5%         10.0%
Marketing Services                                7.8%         -8.1%        -17.6%        -14.7%         -8.7%
                                            ---------     ---------     ---------     ---------     ---------
Continuing operations                            16.0%          9.6%          5.8%          4.1%          8.6%
                                            ---------     ---------     ---------     ---------     ---------
INTERNAL REVENUE GROWTH RATES
Insurance Services                               17.2%         15.0%         10.1%          9.5%         12.8%
Business & Government Services                    3.9%         -2.5%         -3.9%         -7.4%         -2.8%
Marketing Services                               -2.4%        -13.6%        -21.7%        -18.7%        -14.5%
                                            ---------     ---------     ---------     ---------     ---------
Continuing operations                             8.1%          2.4%         -1.2%         -2.6%          1.5%
                                            ---------     ---------     ---------     ---------     ---------
OPERATING MARGINS
Insurance Services                               55.7%         56.9%         56.3%         54.2%         55.8%
Business & Government Services                   19.2%         22.2%         21.4%         20.9%         20.9%
Marketing Services                               27.0%         28.7%         15.8%         17.5%         22.6%
                                            ---------     ---------     ---------     ---------     ---------
Operating income before other operating
  charges, percentage of revenue from
  products and services (b)                      28.2%         28.9%         27.4%         27.3%         27.9%
                                            ---------     ---------     ---------     ---------     ---------
Operating income, as a percentage of
  total revenue                                  26.6%         17.4%         23.7%         22.2%         22.4%
                                            ---------     ---------     ---------     ---------     ---------


(a)      Corporate and shared expenses represent costs of support functions,
         research and development initiatives, incentives and profit sharing
         that benefit all three segments.

(b)      The Company has presented analysis above with and without these items
         because they represent costs that management excludes in its
         assessments of operating results and in determining operational
         incentive awards.



ChoicePoint Earnings
Page 11 of 11

                                CHOICEPOINT INC.
                              2002 SEGMENT RESULTS



                                                                 Q1 2002       Q2 2002       Q3 2002       Q4 2002     Total 2002
                                                                ---------     ---------     ---------     ---------    ----------
                                                                                                        
REVENUE
Insurance Services                                              $  64,140     $  67,031     $  70,495     $  68,616     $ 270,282
Business & Government Services                                     69,116        75,713        79,307        84,625       308,761
Marketing Services                                                 23,717        27,950        27,467        26,699       105,833
Royalty                                                             1,597         1,542         1,563         1,153         5,855
                                                                ---------     ---------     ---------     ---------     ---------
  Core revenue                                                    158,570       172,236       178,832       181,093       690,731
Divested & Discontinued Product Lines                                  72             -             -             -            72
                                                                ---------     ---------     ---------     ---------     ---------
  Revenue from products and services                              158,642       172,236       178,832       181,093       690,803
Reimbursable Expenses per EITF 01-14                               10,019         9,923        10,098         8,480        38,520
                                                                ---------     ---------     ---------     ---------     ---------
  Total Revenue                                                 $ 168,661     $ 182,159     $ 188,930     $ 189,573     $ 729,323
                                                                =========     =========     =========     =========     =========
OPERATING INCOME
Insurance Services                                              $  35,024     $  35,502     $  37,163     $  36,950     $ 144,639
Business & Government Services                                     12,520        17,293        19,549        20,062        69,424
Marketing Services                                                  7,405         9,232         8,509         7,720        32,866
Royalty                                                               997           933           932           464         3,326
Divested & Discontinued Product Lines                                (206)            -             -             -          (206)
Corporate & Shared Expenses                                       (11,518)      (16,885)      (16,163)      (15,619)      (60,185)
                                                                ---------     ---------     ---------     ---------     ---------
  Operating Income before other charges                         $  44,222     $  46,075     $  49,990     $  49,577     $ 189,864
                                                                =========     =========     =========     =========     =========
  Other operating charges                                               -        (7,342)            -             -        (7,342)
                                                                ---------     ---------     ---------     ---------     ---------
  Operating Income                                              $  44,222     $  38,733     $  49,990     $  49,577     $ 182,522
                                                                =========     =========     =========     =========     =========
CORE REVENUE GROWTH RATES
Insurance Services                                                   18.2%         17.0%         20.0%         19.4%         18.7%
Business & Government Services                                       11.6%         16.7%         12.3%         20.9%         15.5%
Marketing Services                                                   43.0%         73.1%         24.5%         23.2%         38.4%
                                                                ---------     ---------     ---------     ---------     ---------
Continuing operations                                                18.0%         22.9%         16.9%         20.1%         19.4%
                                                                ---------     ---------     ---------     ---------     ---------
INTERNAL REVENUE GROWTH RATES
Insurance Services                                                   17.5%         17.0%         18.5%         18.0%         17.8%
Business & Government Services                                       -3.8%          5.6%         12.3%         17.6%          8.4%
Marketing Services                                                    3.4%          5.4%          4.9%          6.7%          5.2%
                                                                ---------     ---------     ---------     ---------     ---------
Continuing operations                                                 5.7%         10.0%         13.4%         15.6%         11.4%
                                                                ---------     ---------     ---------     ---------     ---------
OPERATING MARGINS
Insurance Services                                                   54.6%         53.0%         52.7%         53.9%         53.5%
Business & Government Services                                       18.1%         22.8%         24.6%         23.7%         22.5%
Marketing Services                                                   31.2%         33.0%         31.0%         28.9%         31.1%
                                                                ---------     ---------     ---------     ---------     ---------
Operating income before other operating
  charges, as a percentage of revenue
  from products and services                                         27.9%         26.8%         28.0%         27.4%         27.5%
                                                                ---------     ---------     ---------     ---------     ---------
Operating income, as a percentage of
  total revenue                                                      26.2%         21.3%         26.5%         26.2%         25.0%
                                                                ---------     ---------     ---------     ---------     ---------

EX-99.2

                                                                               .
                                                                               .
                                                                               .

                                                                    Exhibit 99.2

CHOICEPOINT INC.
OPERATING RESULTS BY QUARTER
PROFORMA OPERATING INCOME WITHOUT GOODWILL AMORTIZATION (a)



                                                          Total         Total         Total
                                                          1998          1999          2000         Q1 2001       Q2 2001
                                                        ---------     ---------     ---------     ---------     ---------
                                                                                                 
Insurance Services Revenue                              $ 148,017     $ 161,056     $ 189,822     $  54,263     $  57,283
Business & Government Svcs Revenue                        150,169       187,999       233,270        61,921        64,875
Marketing Services Revenue                                  6,340        42,946        63,549        16,586        16,150
Royalty Revenue                                             6,636         6,219         6,364         1,657         1,807
                                                        ---------     ---------     ---------     ---------     ---------
  Core Revenue (c)                                      $ 311,162     $ 398,220     $ 493,005     $ 134,427     $ 140,115
                                                        =========     =========     =========     =========     =========

Revenue from Divested & Discontinued Lines (b)            106,063        64,035        54,613         8,902         9,272
                                                        ---------     ---------     ---------     ---------     ---------
  Revenue from products and services (d)                $ 417,225     $ 462,255     $ 547,618     $ 143,329     $ 149,387

Reimbursable Expenses per EITF 01-14 (d)                    6,069        38,131        37,392         8,950         8,139
                                                        ---------     ---------     ---------     ---------     ---------
  Total Revenue                                         $ 423,294     $ 500,386     $ 585,010     $ 152,279     $ 157,526
                                                        =========     =========     =========     =========     =========

Insurance Services Operating Income (a)                 $  66,941     $  78,335     $  95,549     $  27,257     $  30,410
Business & Government Svcs Operating Income (a)            12,613         9,006        38,747        13,323        13,330
Marketing Services Operating Income (a)                     1,819        12,856        23,460         5,390         6,772
Royalty Operating Income                                    3,903         3,483         3,804         1,051         1,191
Income from Reimbursable Expenses                               -             -             -             -             -
Divested & Discontinued Operating Income (a) (b)           14,947        16,651         9,250          (279)           67
Corporate                                                 (27,611)      (33,619)      (43,503)      (10,843)      (13,929)
                                                        ---------     ---------     ---------     ---------     ---------

  Operating Income before other operating charges       $  72,612     $  86,712     $ 127,307     $  35,899     $  37,841
                                                        =========     =========     =========     =========     =========

Other operating charges (e)                                 5,049           513       (28,419)      (17,865)            -
                                                        ---------     ---------     ---------     ---------     ---------
OPERATING INCOME                                        $  77,661     $  87,225     $  98,888     $  18,034     $  37,841
                                                        =========     =========     =========     =========     =========

CORE REVENUE GROWTH RATE                                                   28.0%         23.8%         14.7%         13.6%

OPERATING MARGINS
Insurance Services                                           45.2%         48.6%         50.3%         50.2%         53.1%
Business & Government Services                                8.4%          4.8%         16.6%         21.5%         20.5%
Marketing Services                                           28.7%         29.9%         36.9%         32.5%         41.9%
Divested & Discontinued Lines*                               14.1%         26.0%         16.9%         -3.1%          0.7%
ChoicePoint excluding other operating charges, as a
 percentage of revenue from products and services (d)        17.4%         18.8%         23.2%         25.0%         25.3%
OPERATING INCOME AS A PERCENTAGE OF REVENUE
FROM PRODUCTS AND SERVICES (d)                               18.6%         18.9%         18.1%         12.6%         25.3%


                                                                                      Total
                                                         Q3 2001       Q4 2001        2001         Q1 2002       Q2 2002
                                                        ---------     ---------     ---------     ---------     ---------
                                                                                                 
Insurance Services Revenue                              $  58,734     $  57,447     $ 227,727     $  64,140     $  67,031
Business & Government Svcs Revenue                         70,608        70,005       267,409        69,116        75,713
Marketing Services Revenue                                 22,054        21,671        76,461        23,717        27,950
Royalty Revenue                                             1,630         1,714         6,808         1,597         1,542
                                                        ---------     ---------     ---------     ---------     ---------
  Core Revenue (c)                                      $ 153,026     $ 150,837     $ 578,405     $ 158,570     $ 172,236
                                                        =========     =========     =========     =========     =========

Revenue from Divested & Discontinued Lines (b)              5,877           192        24,243            72             -
                                                        ---------     ---------     ---------     ---------     ---------
  Revenue from products and services (d)                $ 158,903     $ 151,029     $ 602,648     $ 158,642     $ 172,236
Reimbursable Expenses per EITF 01-14 (d)                   10,816        10,123        38,028        10,019         9,923
                                                        ---------     ---------     ---------     ---------     ---------
  Total Revenue                                         $ 169,719     $ 161,152     $ 640,676     $ 168,661     $ 182,159
                                                        =========     =========     =========     =========     =========

Insurance Services Operating Income (a)                 $  31,945     $  30,895     $ 120,507     $  35,024     $  35,502
Business & Government Svcs Operating Income (a)            13,633        15,917        56,203        12,520        17,293
Marketing Services Operating Income (a)                     7,077         7,152        26,391         7,405         9,232
Royalty Operating Income                                    1,011         1,147         4,400           997           933
Income from Reimbursable Expenses                               -             -             -             -             -
Divested & Discontinued Operating Income (a) (b)             (464)         (292)         (968)         (206)            -
Corporate                                                 (12,525)      (11,981)      (49,278)      (11,518)      (16,885)
                                                        ---------     ---------     ---------     ---------     ---------

  Operating Income before other operating charges       $  40,677     $  42,838     $ 157,255     $  44,222     $  46,075
                                                        =========     =========     =========     =========     =========

Other operating charges (e)                               (10,853)            -       (28,718)            -        (7,342)
                                                        ---------     ---------     ---------     ---------     ---------
OPERATING INCOME                                        $  29,824     $  42,838     $ 128,537     $  44,222     $  38,733
                                                        =========     =========     =========     =========     =========

CORE REVENUE GROWTH RATE                                     20.9%         19.7%         17.3%         18.0%         22.9%

OPERATING MARGINS
Insurance Services                                           54.4%         53.8%         52.9%         54.6%         53.0%
Business & Government Services                               19.3%         22.7%         21.0%         18.1%         22.8%
Marketing Services                                           32.1%         33.0%         34.5%         31.2%         33.0%
Divested & Discontinued Lines*                               -7.9%       -152.1%         -4.0%       -286.1%           n/a
ChoicePoint excluding other operating charges, as a
 percentage of revenue from products and services (d)        25.6%         28.4%         26.1%         27.9%         26.8%
OPERATING INCOME AS A PERCENTAGE OF REVENUE
FROM PRODUCTS AND SERVICES (d)                               18.8%         28.4%         21.3%         27.9%         22.5%


                                                                                      Total
                                                         Q3 2002       Q4 2002        2002         Q1 2003       Q2 2003
                                                        ---------     ---------     ---------     ---------     ---------
                                                                                                 
Insurance Services Revenue                              $  70,495     $  68,616     $ 270,282     $  76,134     $  77,922
Business & Government Svcs Revenue                         79,307        84,625       308,761        80,995        83,792
Marketing Services Revenue                                 27,467        26,699       105,833        25,573        25,676
Royalty Revenue                                             1,563         1,153         5,855         1,303         1,389
                                                        ---------     ---------     ---------     ---------     ---------
  Core Revenue (c)                                      $ 178,832     $ 181,093     $ 690,731     $ 184,005     $ 188,779
                                                        =========     =========     =========     =========     =========

Revenue from Divested & Discontinued Lines (b)                  -             -            72             -             -
                                                        ---------     ---------     ---------     ---------     ---------
  Revenue from products and services (d)                $ 178,832     $ 181,093     $ 690,803     $ 184,005     $ 188,779

Reimbursable Expenses per EITF 01-14 (d)                   10,098         8,480        38,520        10,944        10,470
                                                        ---------     ---------     ---------     ---------     ---------
  Total Revenue                                         $ 188,930     $ 189,573     $ 729,323     $ 194,949     $ 199,249
                                                        =========     =========     =========     =========     =========

Insurance Services Operating Income (a)                 $  37,163     $  36,950     $ 144,639     $  42,436     $  44,364
Business & Government Svcs Operating Income (a)            19,549        20,062        69,424        15,571        18,585
Marketing Services Operating Income (a)                     8,509         7,720        32,866         6,908         7,374
Royalty Operating Income                                      932           464         3,326           646           626
Income from Reimbursable Expenses                               -             -             -             -             -
Divested & Discontinued Operating Income (a) (b)                -             -          (206)            -             -
Corporate                                                 (16,163)      (15,619)      (60,185)      (13,758)      (16,469)
                                                        ---------     ---------     ---------     ---------     ---------

  Operating Income before other operating charges       $  49,990     $  49,577     $ 189,864     $  51,803     $  54,480
                                                        =========     =========     =========     =========     =========

Other operating charges (e)                                     -             -        (7,342)            -       (19,817)
                                                        ---------     ---------     ---------     ---------     ---------
OPERATING INCOME                                        $  49,990     $  49,577     $ 182,522     $  51,803     $  34,663
                                                        =========     =========     =========     =========     =========

CORE REVENUE GROWTH RATE                                     16.9%         20.1%         19.4%         16.0%          9.6%

OPERATING MARGINS

Insurance Services                                           52.7%         53.9%         53.5%         55.7%         56.9%
Business & Government Services                               24.6%         23.7%         22.5%         19.2%         22.2%
Marketing Services                                           31.0%         28.9%         31.1%         27.0%         28.7%
Divested & Discontinued Lines*                                n/a           n/a        -286.1%           n/a           n/a
ChoicePoint excluding other operating charges, as a
 percentage of revenue from products and services (d)        28.0%         27.4%         27.5%         28.2%         28.9%
OPERATING INCOME AS A PERCENTAGE OF REVENUE
FROM PRODUCTS AND SERVICES (d)                               28.0%         27.4%         26.4%         28.2%         18.4%


                                                                                      Total
                                                         Q3 2003       Q4 2003        2003
                                                        ---------     ---------     ---------
                                                                           
Insurance Services Revenue                              $  78,100     $  76,968     $ 309,124
Business & Government Svcs Revenue                         87,080        87,616       339,483
Marketing Services Revenue                                 22,631        22,762        96,642
Royalty Revenue                                             1,305         1,105         5,102
                                                        ---------     ---------     ---------
  Core Revenue (c)                                      $ 189,116     $ 188,451     $ 750,351
                                                        =========     =========     =========

Revenue from Divested & Discontinued Lines (b)                  -             -             -
                                                        ---------     ---------     ---------
  Revenue from products and services (d)                $ 189,116     $ 188,451     $ 750,351

Reimbursable Expenses per EITF 01-14 (d)                   12,402        11,579        45,395
                                                        ---------     ---------     ---------
  Total Revenue                                         $ 201,518     $ 200,030     $ 795,746
                                                        =========     =========     =========

Insurance Services Operating Income (a)                 $  43,998     $  41,720     $ 172,518
Business & Government Svcs Operating Income (a)            18,652        18,272        71,080
Marketing Services Operating Income (a)                     3,580         3,987        21,849
Royalty Operating Income                                      416           380         2,068
Income from Reimbursable Expenses                               -             -             -
Divested & Discontinued Operating Income (a) (b)                -             -             -
Corporate                                                 (14,850)      (12,936)      (58,013)
                                                        ---------     ---------     ---------

  Operating Income before other operating charges       $  51,796     $  51,423     $ 209,502
                                                        =========     =========     =========

Other operating charges (e)                                (4,022)       (7,103)      (30,942)
                                                        ---------     ---------     ---------
OPERATING INCOME                                        $  47,774     $  44,320     $ 178,560
                                                        =========     =========     =========

CORE REVENUE GROWTH RATE                                      5.8%          4.1%          8.6%

OPERATING MARGINS
Insurance Services                                           56.3%         54.2%         55.8%
Business & Government Services                               21.4%         20.9%         20.9%
Marketing Services                                           15.8%         17.5%         22.6%
Divested & Discontinued Lines*                                n/a           n/a           n/a
ChoicePoint excluding other operating charges, as a
 percentage of revenue from products and services (d)        27.4%         27.3%         27.9%
OPERATING INCOME AS A PERCENTAGE OF REVENUE
FROM PRODUCTS AND SERVICES (d)                               25.3%         23.5%         23.8%


(a) FASB Statement No. 142 discontinued the amortization of goodwill as of
    January 1, 2002. For comparison purposes, the above data excludes goodwill
    amortization in 1998-2001 as if FASB No. 142 was effective January 1, 1998.

(b) Divested & Discontinued Lines represents products and lines of businesses
    that were discontinued or divested, but which do not qualify for
    discontinued operations accounting.

(c) Core revenue represents revenue from continuing business lines and is used
    by management to assess and manage its on-going businesses and to determine
    operational incentive awards

(d) Reimbursable expenses represent certain reimbursed out-of-pocket expenses
    that are presented on a gross basis in accordance with EITF 01-14. As these
    expenses are fully reimbursed, without mark-up, by our clients and in a
    majority of cases prepaid by the customers, there is no impact on operating
    income, net income, earnings per share, cash flows or the balance sheet;
    therefore, we have excluded the impact of these expenses in the calculation
    of operating margins, core revenue and internal growth

(e) Other operating charges include merger-related costs, unusual items,
    realignment charges and gain (loss) on sale of business that management
    excludes in its assessments of operating results and in determining
    operational incentive awards



CHOICEPOINT INC.
OPERATING RESULTS BY QUARTER



                                                          Total         Total         Total
                                                          1998          1999          2000         Q1 2001       Q2 2001
                                                        ---------     ---------     ---------     ---------     ---------
                                                                                                 
Insurance Services Revenue                              $ 148,017     $ 161,056     $ 189,822     $  54,263     $  57,283
Business & Government Svcs Revenue                        150,169       187,999       233,270        61,921        64,875
Marketing Services Revenue                                  6,340        42,946        63,549        16,586        16,150
Royalty Revenue                                             6,636         6,219         6,364         1,657         1,807
                                                        ---------     ---------     ---------     ---------     ---------
  Core Revenue (b)                                      $ 311,162     $ 398,220     $ 493,005     $ 134,427     $ 140,115
                                                        =========     =========     =========     =========     =========

Revenue from Divested & Discontinued Lines (a)            106,063        64,035        54,613         8,902         9,272
                                                        ---------     ---------     ---------     ---------     ---------
  Revenue from products and services (c)                $ 417,225     $ 462,255     $ 547,618     $ 143,329     $ 149,387

Reimbursable Expenses per EITF 01-14 (c)                    6,069        38,131        37,392         8,950         8,139
                                                        ---------     ---------     ---------     ---------     ---------
  Total Revenue                                         $ 423,294     $ 500,386     $ 585,010     $ 152,279     $ 157,526
                                                        =========     =========     =========     =========     =========

Insurance Services Operating Income                     $  66,387     $  77,604     $  94,892     $  27,004     $  30,125
Business & Government Svcs Operating Income                 7,998         2,285        29,377        10,773        10,497
Marketing Services Operating Income                         1,269        10,526        19,285         4,338         5,721
Royalty Operating Income                                    3,903         3,483         3,804         1,051         1,191
Income from Reimbursable Expenses                               -             -             -             -             -
Divested & Discontinued Operating Income (a)               13,743        15,446         8,045          (580)         (234)
Corporate                                                 (27,611)      (33,619)      (43,503)      (10,843)      (13,929)
                                                        ---------     ---------     ---------     ---------     ---------

  Operating Income before other operating charges       $  65,689     $  75,725     $ 111,900     $  31,743     $  33,371
                                                        =========     =========     =========     =========     =========

Other operating charges (d)                                 5,049           513       (28,419)      (17,865)            -
                                                        ---------     ---------     ---------     ---------     ---------
OPERATING INCOME                                        $  70,738     $  76,238     $  83,481     $  13,878     $  33,371
                                                        =========     =========     =========     =========     =========

OPERATING MARGINS
Insurance Services                                           44.9%         48.2%         50.0%         49.8%         52.6%
Business & Government Services                                5.3%          1.2%         12.6%         17.4%         16.2%
Marketing Services                                           20.0%         24.5%         30.3%         26.2%         35.4%
Divested & Discontinued Lines (a)                            13.0%         24.1%         14.7%        -6.5%         -2.5%
ChoicePoint excluding other operating charges, as a
 percentage of revenue from products and services (c)        15.7%         16.4%         20.4%         22.1%         22.3%
OPERATING INCOME AS A PERCENTAGE OF REVENUE
 FROM PRODUCTS AND SERVICES (c)                              17.0%         16.5%         15.2%          9.7%         22.3%
OPERATING INCOME AS A PERCENTAGE OF TOTAL REVENUE            16.7%         15.2%         14.3%          9.1%         21.2%

INTERNAL GROWTH RATES (e)
Insurance Services                                           21.9%         18.4%         18.0%         14.9%         15.8%
Business & Government Services                               19.9%         15.0%         14.2%          8.6%          1.4%
Marketing Services                                            n/a           n/a          17.0%          9.6%          2.1%
Total ChoicePoint                                            20.3%         16.1%         15.8%         11.2%          7.1%


                                                                                      Total
                                                         Q3 2001       Q4 2001        2001         Q1 2002       Q2 2002
                                                        ---------     ---------     ---------     ---------     ---------
                                                                                                 
Insurance Services Revenue                              $  58,734     $  57,447     $ 227,727     $  64,140     $  67,031
Business & Government Svcs Revenue                         70,608        70,005       267,409        69,116        75,713
Marketing Services Revenue                                 22,054        21,671        76,461        23,717        27,950
Royalty Revenue                                             1,630         1,714         6,808         1,597         1,542
                                                        ---------     ---------     ---------     ---------     ---------
  Core Revenue (b)                                      $ 153,026     $ 150,837     $ 578,405     $ 158,570     $ 172,236
                                                        =========     =========     =========     =========     =========

Revenue from Divested & Discontinued Lines (a)              5,877           192        24,243            72             -
                                                        ---------     ---------     ---------     ---------     ---------
  Revenue from products and services (c)                $ 158,903     $ 151,029     $ 602,648     $ 158,642     $ 172,236

Reimbursable Expenses per EITF 01-14 (c)                   10,816        10,123        38,028        10,019         9,923
                                                        ---------     ---------     ---------     ---------     ---------
  Total Revenue                                         $ 169,719     $ 161,152     $ 640,676     $ 168,661     $ 182,159
                                                        =========     =========     =========     =========     =========

Insurance Services Operating Income                     $  31,663     $  30,615     $ 119,407     $  35,024     $  35,502
Business & Government Svcs Operating Income                10,769        13,050        45,089        12,520        17,293
Marketing Services Operating Income                         6,025         6,101        22,185         7,405         9,232
Royalty Operating Income                                    1,011         1,147         4,400           997           933
Income from Reimbursable Expenses                               -             -             -             -             -
Divested & Discontinued Operating Income (a)                 (665)         (292)       (1,771)         (206)            -
Corporate                                                 (12,525)      (11,981)      (49,278)      (11,518)      (16,885)
                                                        ---------     ---------     ---------     ---------     ---------

  Operating Income before other operating charges       $  36,278     $  38,640     $ 140,032     $  44,222     $  46,075
                                                        =========     =========     =========     =========     =========

Other operating charges (d)                               (10,853)            -       (28,718)            -        (7,342)
                                                        ---------     ---------     ---------     ---------     ---------
OPERATING INCOME                                        $  25,425     $  38,640     $ 111,314     $  44,222     $  38,733
                                                        =========     =========     =========     =========     =========

OPERATING MARGINS
Insurance Services                                           53.9%         53.3%         52.4%         54.6%         53.0%
Business & Government Services                               15.3%         18.6%         16.9%         18.1%         22.8%
Marketing Services                                           27.3%         28.2%         29.0%         31.2%         33.0%
Divested & Discontinued Lines (a)                           -11.3%       -152.1%         -7.3%       -286.1%           n/a
ChoicePoint excluding other operating charges, as a
 percentage of revenue from products and services (c)        22.8%         25.6%         23.2%         27.9%         26.8%
OPERATING INCOME AS A PERCENTAGE OF REVENUE
 FROM PRODUCTS AND SERVICES (c)                              16.0%         25.6%         18.5%         27.9%         22.5%
OPERATING INCOME AS A PERCENTAGE OF TOTAL REVENUE            15.0%         24.0%         17.4%         26.2%         21.3%

INTERNAL GROWTH RATES (e)
Insurance Services                                           16.0%         18.5%         16.3%         17.5%         17.0%
Business & Government Services                               -3.8%         -5.6%         -0.1%         -3.8%          5.6%
Marketing Services                                            2.3%        -4.0%           2.3%          3.4%          5.4%
Total ChoicePoint                                             4.6%          4.0%          6.6%          5.7%         10.0%


                                                                                      Total
                                                         Q3 2002       Q4 2002        2002         Q1 2003       Q2 2003
                                                        ---------     ---------     ---------     ---------     ---------
                                                                                                 
Insurance Services Revenue                              $  70,495     $  68,616     $ 270,282     $  76,134     $  77,922
Business & Government Svcs Revenue                         79,307        84,625       308,761        80,995        83,792
Marketing Services Revenue                                 27,467        26,699       105,833        25,573        25,676
Royalty Revenue                                             1,563         1,153         5,855         1,303         1,389
                                                        ---------     ---------     ---------     ---------     ---------
  Core Revenue (b)                                      $ 178,832     $ 181,093     $ 690,731     $ 184,005     $ 188,779
                                                        =========     =========     =========     =========     =========

Revenue from Divested & Discontinued Lines (a)                  -             -            72             -             -
                                                        ---------     ---------     ---------     ---------     ---------
  Revenue from products and services (c)                $ 178,832     $ 181,093     $ 690,803     $ 184,005     $ 188,779

Reimbursable Expenses per EITF 01-14 (c)                   10,098         8,480        38,520        10,944        10,470
                                                        ---------     ---------     ---------     ---------     ---------
  Total Revenue                                         $ 188,930     $ 189,573     $ 729,323     $ 194,949     $ 199,249
                                                        =========     =========     =========     =========     =========

Insurance Services Operating Income                     $  37,163     $  36,950     $ 144,639     $  42,436     $  44,364
Business & Government Svcs Operating Income                19,549        20,062        69,424        15,571        18,585
Marketing Services Operating Income                         8,509         7,720        32,866         6,908         7,374
Royalty Operating Income                                      932           464         3,326           646           626
Income from Reimbursable Expenses                               -             -             -             -             -
Divested & Discontinued Operating Income (a)                    -             -          (206)            -             -
Corporate                                                 (16,163)      (15,619)      (60,185)      (13,758)      (16,469)
                                                        ---------     ---------     ---------     ---------     ---------

  Operating Income before other operating charges       $  49,990     $  49,577     $ 189,864     $  51,803     $  54,480
                                                        =========     =========     =========     =========     =========

Other operating charges (d)                                     -             -        (7,342)            -       (19,817)
                                                        ---------     ---------     ---------     ---------     ---------
OPERATING INCOME                                        $  49,990     $  49,577     $ 182,522     $  51,803     $  34,663
                                                        =========     =========     =========     =========     =========

OPERATING MARGINS
Insurance Services                                           52.7%         53.9%         53.5%         55.7%         56.9%
Business & Government Services                               24.6%         23.7%         22.5%         19.2%         22.2%
Marketing Services                                           31.0%         28.9%         31.1%         27.0%         28.7%
Divested & Discontinued Lines (a)                             n/a           n/a       -286.1%           n/a           n/a
ChoicePoint excluding other operating charges, as a
 percentage of revenue from products and services (c)        28.0%         27.4%         27.5%         28.2%         28.9%
OPERATING INCOME AS A PERCENTAGE OF REVENUE
 FROM PRODUCTS AND SERVICES (c)                              28.0%         27.4%         26.4%         28.2%         18.4%
OPERATING INCOME AS A PERCENTAGE OF TOTAL REVENUE            26.5%         26.2%         25.0%         26.6%         17.4%

INTERNAL GROWTH RATES (e)
Insurance Services                                           18.5%         18.0%         17.8%         17.2%         15.0%
Business & Government Services                               12.3%         17.6%          8.4%          3.9%         -2.5%
Marketing Services                                            4.9%          6.7%          5.2%         -2.4%        -13.6%
Total ChoicePoint                                            13.4%         15.6%         11.4%          8.1%          2.4%


                                                                                      Total
                                                         Q3 2003       Q4 2003        2003
                                                        ---------     ---------     ---------
                                                                           
Insurance Services Revenue                              $  78,100     $  76,968     $ 309,124
Business & Government Svcs Revenue                         87,080        87,616       339,483
Marketing Services Revenue                                 22,631        22,762        96,642
Royalty Revenue                                             1,305         1,105         5,102
                                                        ---------     ---------     ---------
  Core Revenue (b)                                      $ 189,116     $ 188,451     $ 750,351
                                                        =========     =========     =========

Revenue from Divested & Discontinued Lines (a)                  -             -             -
                                                        ---------     ---------     ---------
  Revenue from products and services (c)                $ 189,116     $ 188,451     $ 750,351

Reimbursable Expenses per EITF 01-14 (c)                   12,402        11,579        45,395
                                                        ---------     ---------     ---------
  Total Revenue                                         $ 201,518     $ 200,030     $ 795,746
                                                        =========     =========     =========

Insurance Services Operating Income                     $  43,998     $  41,720     $ 172,518
Business & Government Svcs Operating Income                18,652        18,272        71,080
Marketing Services Operating Income                         3,580         3,987        21,849
Royalty Operating Income                                      416           380         2,068
Income from Reimbursable Expenses                               -             -             -
Divested & Discontinued Operating Income (a)                    -             -             -
Corporate                                                 (14,850)      (12,936)      (58,013)
                                                        ---------     ---------     ---------

Operating Income before other operating charges         $  51,796     $  51,423     $ 209,502
                                                        =========     =========     =========

Other operating charges (d)                                (4,022)       (7,103)      (30,942)
                                                        ---------     ---------     ---------
OPERATING INCOME                                        $  47,774     $  44,320     $ 178,560
                                                        =========     =========     =========

OPERATING MARGINS
Insurance Services                                           56.3%         54.2%         55.8%
Business & Government Services                               21.4%         20.9%         20.9%
Marketing Services                                           15.8%         17.5%         22.6%
Divested & Discontinued Lines (a)                             n/a           n/a           n/a
ChoicePoint excluding other operating charges, as a
 percentage of revenue from products and services (c)        27.4%         27.3%         27.9%
OPERATING INCOME AS A PERCENTAGE OF REVENUE
 FROM PRODUCTS AND SERVICES (c)                              25.3%         23.5%         23.8%
OPERATING INCOME AS A PERCENTAGE OF TOTAL REVENUE            23.7%         22.2%         22.4%

INTERNAL GROWTH RATES (e)
Insurance Services                                           10.1%          9.5%         12.8%
Business & Government Services                               -3.9%         -7.4%         -2.8%
Marketing Services                                          -21.7%        -18.7%        -14.5%
Total ChoicePoint                                            -1.2%         -2.6%          1.5%


(a) Divested & Discontinued Lines represents products and lines of businesses
    that were discontinued or divested, but which do not qualify for
    discontinued operations accounting.

(b) Core revenue represents revenue from continuing business lines and is used
    by management to assess and manage its on-going businesses and to determine
    operational incentive awards

(c) Reimbursable expenses represent certain reimbursed out-of-pocket expenses
    that are presented on a gross basis in accordance with EITF 01-14. As these
    expenses are fully reimbursed, without mark-up, by our clients and in a
    majority of cases prepaid by the customers, there is no impact on operating
    income, net income, earnings per share, cash flows or the balance sheet;
    therefore, we have excluded the impact of these expenses in the calculation
    of operating margins, core revenue and internal growth

(d) Other operating charges include merger-related costs, unusual items,
    realignment charges and gain (loss) on sale of business that management
    excludes in its assessments of operating results and in determining
    operational incentive awards

(e) Internal revenue growth is the revenue growth from comparable business units
    for the same period in the prior year and excludes revenue from reimbursable
    expenses, acquisitions, divested and discontinued product lines and
    discontinued operations. This measure is used by management to analyze the
    performance of the business segments and as a criteria component for
    incentive compensation awards.



CHOICEPOINT INC.
OPERATING RESULTS BY QUARTER



                                                          Total         Total         Total
                                                          1998          1999          2000         Q1 2001       Q2 2001
                                                        ---------     ---------     ---------     ---------     ---------
                                                                                                 
NET INCOME                                              $  42,315     $  42,197     $  43,822     $   7,213     $  19,921
EPS                                                     $    0.52     $    0.52     $    0.52     $    0.08     $    0.23

Less:
  Cumulative change in accounting principle, net                -             -             -             -             -
  Income from discontinued operations, net of tax           4,037         3,997         3,656           881         1,249
  Gain on sale of discontinued operations, net                  -             -             -             -             -
                                                        ---------     ---------     ---------     ---------     ---------

 Net income from continuing operations                  $  38,278     $  38,200     $  40,166     $   6,332     $  18,672
EPS from continuing operations                          $    0.47     $    0.47     $    0.48     $    0.07     $    0.21

Add back: goodwill amortization net of taxes (a)            5,401         9,397        12,885         3,118         3,198
Pro forma Net income from continuing operations (a)     $  43,679     $  47,597     $  53,051     $   9,450     $  21,870
                                                        =========     =========     =========     =========     =========
Pro forma EPS from continuing operations (a)            $    0.54     $    0.58     $    0.63     $    0.11     $    0.25

Add back:
  Other operating charges (b)                              (5,049)         (513)       28,419        17,865             -
  Tax provision (benefit) related to other operating
  charges                                                   2,114           (78)       (8,604)       (6,655)            -
                                                        ---------     ---------     ---------     ---------     ---------

PRO FORMA INCOME FROM CONTINUING OPERATIONS
EXCLUDING OTHER OPERATING CHARGES (a)(b)                $  40,744     $  47,006     $  72,866     $  20,660     $  21,870
                                                        =========     =========     =========     =========     =========
PRO FORMA EPS FROM CONTINUING OPERATIONS
EXCLUDING OTHER OPERATING CHARGES (a)(b)                $    0.51     $    0.58     $    0.87     $    0.24     $    0.25

Wtd Avg Shares                                             80,616        81,591        84,139        86,264        86,873


                                                                                      Total
                                                         Q3 2001       Q4 2001        2001         Q1 2002       Q2 2002
                                                        ---------     ---------     ---------     ---------     ---------
                                                                                                 
NET INCOME                                              $      12     $  23,188     $  50,334     $   2,998     $  24,113
EPS                                                     $    0.00     $    0.26     $    0.58     $    0.03     $    0.27

Less:
  Cumulative change in accounting principle, net                -             -             -       (24,416)            -
  Income from discontinued operations, net of tax           1,208         1,294         4,632         1,575         1,707
  Gain on sale of discontinued operations, net                  -             -             -             -             -
                                                        ---------     ---------     ---------     ---------     ---------

 Net income from continuing operations                  $  (1,196)    $  21,894     $  45,702     $  25,839     $  22,406
EPS from continuing operations                          $   (0.01)    $    0.25     $    0.52     $    0.29     $    0.25

Add back: goodwill amortization net of taxes (a)            3,203         3,119        12,638             -             -
Pro forma Net income from continuing operations (a)     $   2,007     $  25,013     $  58,340     $  25,839     $  22,406
                                                        =========     =========     =========     =========     =========
Pro forma EPS from continuing operations (a)            $    0.02     $    0.28     $    0.67     $    0.29     $    0.25

Add back:
  Other operating charges (b)                              10,853             -        28,718             -         7,342
  Tax provision (benefit) related to other operating
  charges                                                  10,534             -         3,879             -        (2,818)
                                                        ---------     ---------     ---------     ---------     ---------

PRO FORMA INCOME FROM CONTINUING OPERATIONS
EXCLUDING OTHER OPERATING CHARGES (a)(b)                $  23,394     $  25,013     $  90,937     $  25,839     $  26,930
                                                        =========     =========     =========     =========     =========
PRO FORMA EPS FROM CONTINUING OPERATIONS
EXCLUDING OTHER OPERATING CHARGES (a)(b)                $    0.27     $    0.28     $    1.04     $    0.29     $    0.30

Wtd Avg Shares                                             87,457        88,101        87,151        88,969        89,692


                                                                                      Total
                                                         Q3 2002       Q4 2002        2002         Q1 2003       Q2 2003
                                                        ---------     ---------     ---------     ---------     ---------
                                                                                                 
NET INCOME                                              $  31,262     $  31,454     $  89,827     $  65,175     $  20,853
EPS                                                     $    0.35     $    0.35     $    1.01     $    0.73     $    0.23

Less:
  Cumulative change in accounting principle, net                -             -       (24,416)            -             -
  Income from discontinued operations, net of tax           1,704         1,585         6,571           991             -
  Gain on sale of discontinued operations, net                  -             -             -        32,893             -
                                                        ---------     ---------     ---------     ---------     ---------

 Net income from continuing operations                  $  29,558     $  29,869     $ 107,672     $  31,291     $  20,853
EPS from continuing operations                          $    0.33     $    0.34     $    1.21     $    0.35     $    0.23

Add back: goodwill amortization net of taxes (a)                -             -             -             -             -
Pro forma Net income from continuing operations (a)     $  29,558     $  29,869     $ 107,672     $  31,291     $  20,853
                                                        =========     =========     =========     =========     =========
Pro forma EPS from continuing operations (a)            $    0.33     $    0.34     $    1.21     $    0.35     $    0.23

Add back:
  Other operating charges (b)                                   -             -         7,342             -        19,817
  Tax provision (benefit) related to other operating
  charges                                                       -             -        (2,818)            -        (7,609)
                                                        ---------     ---------     ---------     ---------     ---------

PRO FORMA INCOME FROM CONTINUING OPERATIONS
EXCLUDING OTHER OPERATING CHARGES (a)(b)                $  29,558     $  29,869     $ 112,196     $  31,291     $  33,061
                                                        =========     =========     =========     =========     =========
PRO FORMA EPS FROM CONTINUING OPERATIONS
EXCLUDING OTHER OPERATING CHARGES (a)(b)                $    0.33     $    0.34     $    1.26     $    0.35     $    0.37

Wtd Avg Shares                                             89,612        89,064        89,194        89,374        89,354


                                                                                      Total
                                                         Q3 2003       Q4 2003        2003
                                                        ---------     ---------     ---------
                                                                           
NET INCOME                                              $  29,055     $  26,909     $ 141,992
EPS                                                     $    0.32     $    0.30     $    1.58

Less:
  Cumulative change in accounting principle, net                -             -             -
  Income from discontinued operations, net of tax               -             -           991
  Gain on sale of discontinued operations, net                  -             -        32,893
                                                        ---------     ---------     ---------

 Net income from continuing operations                  $  29,055     $  26,909     $ 108,108
EPS from continuing operations                          $    0.32     $    0.30     $    1.21

Add back: goodwill amortization net of taxes (a)                -             -             -
Pro forma Net income from continuing operations (a)     $  29,055     $  26,909     $ 108,108
                                                        =========     =========     =========
Pro forma EPS from continuing operations (a)            $    0.32     $    0.30     $    1.21
Add back:
  Other operating charges (b)                               4,022         7,103        30,942
  Tax provision (benefit) related to other operating
  charges                                                  (1,545)       (2,728)      (11,882)
                                                        ---------     ---------     ---------

PRO FORMA INCOME FROM CONTINUING OPERATIONS
EXCLUDING OTHER OPERATING CHARGES (a)(b)                $  31,532     $  31,284     $ 127,168
                                                        =========     =========     =========
PRO FORMA EPS FROM CONTINUING OPERATIONS
EXCLUDING OTHER OPERATING CHARGES (a)(b)                $    0.35     $    0.35     $    1.42

Wtd Avg Shares                                             89,866        89,923        89,686


(a) FASB Statement No. 142 discontinued the amortization of goodwill as of
    January 1, 2002. For comparison purposes, the above data excludes goodwill
    amortization in 1998-2001 as if FASB No. 142 was effective January 1, 1998.

(b) Other operating charges include merger-related costs, unusual items,
    realignment charges and gain (loss) on sale of business that management
    excludes in its assessments of operating results and in determining
    operational incentive awards and include the following components which are
    more fully described in our Annual Report on Form 10-K for the applicable
    years:



                                                          Total         Total         Total
                                                          1998          1999          2000         Q1 2001       Q2 2001
                                                        ---------     ---------     ---------     ---------     ---------
                                                                                                 
Merger transaction costs                                        -             -        11,579             -             -
Merger personnel related costs                                838             -         3,780         1,832             -
Other merger integration costs                                  -             -         3,629         2,433             -
Write down of minority investments                              -           817             -             -             -
Asset impairments                                           2,920           732         6,954        12,693             -
Nonmerger severance                                             -           451         1,885           838             -
Other one-time charges                                          -             -           592            69             -
(Gain) loss on sale of business                            (8,807)       (2,513)            -             -             -
                                                        ---------     ---------     ---------     ---------     ---------
  Total other operating charges                            (5,049)         (513)       28,419        17,865             -
                                                        =========     =========     =========     =========     =========


                                                                                    Total
                                                       Q3 2001       Q4 2001        2001         Q1 2002       Q2 2002
                                                      ---------     ---------     ---------     ---------     ---------
                                                                                               
Merger transaction costs                                      -             -             -             -             -
Merger personnel related costs                                -             -         1,832             -             -
Other merger integration costs                                -             -         2,433             -             -
Write down of minority investments                            -             -             -             -         2,370
Asset impairments                                             -             -        12,693             -         2,985
Nonmerger severance                                           -             -           838             -           567
Other one-time charges                                        -             -            69             -         1,420
(Gain) loss on sale of business                          10,853             -        10,853             -             -
                                                      ---------     ---------     ---------     ---------     ---------
  Total other operating charges                          10,853             -        28,718             -         7,342
                                                      =========     =========     =========     =========     =========


                                                                                    Total
                                                       Q3 2002       Q4 2002        2002         Q1 2003       Q2 2003
                                                      ---------     ---------     ---------     ---------     ---------
                                                                                               
Merger transaction costs                                      -             -             -             -             -
Merger personnel related costs                                -             -             -             -             -
Other merger integration costs                                -             -             -             -             -
Write down of minority investments                            -             -         2,370             -             -
Asset impairments                                             -             -         2,985             -        12,490
Nonmerger severance                                           -             -           567             -         2,848
Other one-time charges                                        -             -         1,420             -         4,479
(Gain) loss on sale of business                               -             -             -             -             -
                                                      ---------     ---------     ---------     ---------     ---------
  Total other operating charges                               -             -         7,342             -        19,817
                                                      =========     =========     =========     =========     =========


                                                                                    Total
                                                       Q3 2003       Q4 2003        2003
                                                      ---------     ---------     ---------
                                                                         
Merger transaction costs                                      -             -             -
Merger personnel related costs                                -             -             -
Other merger integration costs                                -             -             -
Write down of minority investments                            -             -             -
Asset impairments                                         3,015         5,845        21,350
Nonmerger severance                                         882           624         4,354
Other one-time charges                                      125           634         5,238
(Gain) loss on sale of business                               -             -             -
                                                      ---------     ---------     ---------
  Total other operating charges                           4,022         7,103        30,942
                                                      =========     =========     =========