The momentum of the past year's events culminated in 2006, with our initial public offering on May 25. That date marked a turning point for our organization, providing MasterCard with a distinct competitive advantage in the marketplace.

As we celebrate our 40th anniversary in 2006, we also celebrate a new name, MasterCard Worldwide — a name that captures not only our expanded vision of where we're going, but also the profound impact we continue to have on financial transactions around the world.

Unveiling the New MasterCard

Over the past year, we began to articulate a much broader value proposition — establishing MasterCard not merely as a card company, or even a global payments leader, but as a driving force at the heart of commerce. We are committed to reshaping the way the world does business and delivering benefits to all of our constituents, including, for the first time, public investors.

More than ever, we have the ability to displace traditional forms of payment by bringing the benefits of electronic commerce to every corner of the world. We are leveraging a range of major strengths, including a unified global organization, one of the world's most advanced transaction networks, a stellar brand and MasterCard Advisors, the only global consultancy dedicated exclusively to the payments industry.

Above all, we have worked hard to differentiate MasterCard in the payments industry, with a business strategy focused squarely on the needs of our customers. Armed with a unique business model — as a processor, franchisor and advisor — we are helping to build a powerful web of economic connections, driving profitable growth for our customers and delivering value to our shareholders.