FORMER CITIGROUP EXECUTIVE KEITH W. HUGHES JOINS CARREKER CORPORATION BOARD OF DIRECTORS

DALLAS (July 22, 2003) — Carreker Corporation (Nasdaq: CANI), a leading provider of technology and consulting solutions for the financial services industry, today announced that Keith W. Hughes, a 30-year veteran of the banking industry and former vice chairman and director of Citigroup, has been appointed to the company’s board of directors.

“Keith brings our board a particularly valuable set of experiences and talents at a crucial time for us,” said J. D. (Denny) Carreker, chairman and chief executive officer of Carreker Corporation. “As we have progressed on our mission to be the leader in payments solutions for financial institutions, we are fortunate to have Keith’s industry knowledge and leadership behind our decisions.”

“I perceive that Carreker is poised well for substantial success – ready to help banks lead the next wave of change in the payment system, with an enviable position of incumbency in key areas,” said Hughes. “It’s a situation that calls for experienced industry guidance, and I am pleased to be asked to contribute mine.”

Hughes retired as vice chairman and director of Citigroup in 2000, a year after his previous company, Associates First Capital Corporation where he had been chairman and chief executive officer, had become part of Citigroup. His banking career also included senior positions with Crocker National Bank, Northwestern Bank and Continental Bank. His banking association affiliations have included the American Bankers Association, American Financial Services Association, Bank Marketing Association, Visa U.S.A. and Visa International. He is currently engaged as a consultant to financial institutions internationally and domestically.

Hughes is active in the Dallas community, where his board and advisory affiliations include Southwestern Medical Foundation, Children’s Medical Center of Dallas, Salvation Army - Dallas, United Way of Metropolitan Dallas, Certegy Inc., Proudfoot Consulting, Majesco and the Southern Methodist University’s Cox School of Business (former director). He received his bachelor of science and master’s degree in marketing and finance from Miami University of Ohio.

About Carreker Corporation
Carreker Corporation improves earnings for financial institutions around the world. The company’s integrated consulting and software solutions are designed to increase clients’ revenues and reduce their expenses, while improving security and increasing the value of their customer relationships. Carreker provides products and services to more than 250 clients in the United States, Canada, the United Kingdom, Ireland, Australia and South Africa. Clients include the full range of community, regional and large banks, among them more than 75 of the largest 100 banks in the United States. Headquartered in Dallas, Texas, since 1978, Carreker Corporation also has offices located around the world including London and Sydney. For more information, visit www.carreker.com.