HOUSTON, May 11, 2006 (PRIMEZONE) -- On the heels of a recent agreement that will enable Sovereign Bank to brand nearly 900 cash dispensing Automatic Teller Machines (ATMs) in CVS/pharmacy locations across the northeastern United States, Sovereign Bank and Cardtronics Inc. announced today that Sovereign has elected to expand its existing branding agreement to include an additional 484 ATMs in CVS/pharmacy locations in the New York tri-state area. Installations are expected to be completed on the initial 900 by the end of summer. As with the original agreement, all Sovereign branded ATMs in CVS/pharmacy stores will be surcharge-free to Sovereign Bank customers.
"The additional tri-state locations were too good to pass up," said Laurie Cochran, Sovereign senior vice president of Retail Marketing. "The additional 484 locations truly afford us the opportunity to provide our customers with greater convenience."
"This second agreement reaffirms the value that the Cardtronics branding program delivers to our financial institution partners," said Keith Myers, executive vice president of Financial Services for Cardtronics. "We're proud to be a partner with such a world-class organization, and look forward to assisting Sovereign Bank in expanding their ATM distribution to build stronger banking relationships with their customers."
About Sovereign
Sovereign Bancorp, Inc. ("Sovereign") (NYSE:SOV) is the parent company of Sovereign Bank, a pro forma $83 billion financial institution with nearly 800 community banking offices, over 2,000 ATMs and approximately 12,000 team members with principal markets in the Northeast United States after giving effect to the Independence acquisition and recently announced branding agreement in which Sovereign ATMs will be placed in CVS/pharmacy locations. Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, wealth management and insurance. Sovereign is the 18th largest banking institution in the United States. For more information on Sovereign Bank, visit http://www.sovereignbank.com or call 1-877-SOV-BANK.
Sovereign Bank, its logo and lantern are service marks of Sovereign Bank or its affiliates or subsidiaries in the United States and other countries.
About Cardtronics
Cardtronics, the world's largest owner/operator of ATMs, has a nationwide U.S. network of more than 26,000 locations operating in every major market and in all 50 states as well as 1,000 locations throughout the U.K. Major merchant-clients include A&P(r), Albertson's(r), Amerada Hess(r), BP(r), Chevron(r), Costco(r), CVS(r)/pharmacy, ExxonMobil(r), Duane Reade(r), Rite Aid(r), Sunoco(r), Target(r) and Walgreens(r). Cardtronics also works closely with financial institutions across the U.S. to brand ATMs in these major merchants to provide convenient access for their customers and to preserve and expand their markets.
The Cardtronics logo is available at http://www.primezone.com/newsroom/prs/?pkgid=991