Letter From Bob Carr

Hello,

My name is Bob Carr and I am the CEO and Chairman of Heartland Payment Systems. Heartland, a NYSE company trading under the symbol HPY, delivers credit/debit/prepaid card processing, payroll, check management and payments solutions to more than 250,000 business locations nationwide. Heartland employs over 1,200 Relationship Managers out of a team of nearly 3,000 employees in operations, sales, IT, marketing and administration.

A Little History

We processed our first card transaction on July 15, 1997 and started with a business investment of $1 million. Our steady growth and solid business foundation then led to a $40 million private equity investment in the company in October 2001. Our growth was further validated in October, 2003 by Inc. Magazine which named Heartland to its second consecutive year on the "Inc. 500" list. Then, on August 11, 2005, Heartland announced its initial public offering and was listed on the New York Stock Exchange. We have exciting plans (that could include you) to continue this kind of growth for the next five years.

One of the keys to our success is our superior long-term customer relationship sales model built on the idea of a local Relationship Manager. To reach our objectives over the next few years, we need to add more quality people to our team. It's a little like trying to find the right pieces of a jigsaw puzzle. And if you're reading this, you may be the kind of person who would fit and be one of the critical pieces who brings us closer to completing our corporate puzzle.

The Kind Of Person That Makes Sense for Our Team

Let me describe the kind of person we're recruiting for our team. We are looking for individuals with impeccable personal integrity and who are motivated to build a career and significant wealth for themselves and their families over the next 4-5 years.

You need to have an entrepreneurial spirit but be willing to work as part of a larger team. This is frankly not an environment that is made for mavericks. I know because I used to be a 25-year old maverick myself and I doubt that back then I would have appreciated the value of the team approach Heartland has been able to create so effectively.

You need to live by the rules of engagement established by our company and meet our standards. You are required to work full-time. 50-55 hours per week is the standard if you want to enjoy a challenging and rewarding career as a full-time member of the Heartland team.

As a full-timer, you must meet margin goals. Occasionally, you will be required to "leave money on the table" because we do not permit price gouging. Our merchants are in the habit of talking to one another and we cannot jeopardize our reputation or risk losing future referrals. Some entrepreneurial types have a problem with Heartland's approach on this subject.

You may be asked to work with trade associations, commercial banks and value added resellers. You will be required to spend a lot of time learning our industry. In fact, if you have previous industry experience, you may have to actually unlearn some of the things that do not conform to the Heartland way of doing business.

Four Career Stages

You can begin to make a good income immediately although we do not offer salaries. You will start as an employee of the company and when successful, you will qualify for our group health insurance, 401K plan, stock options programs, and other benefits. The career of a successful Relationship Manager typically goes through four stages.

The first stage is the 90-day training, learning and probation stage in which you learn our industry and the Heartland way of doing business. You will learn our products, our selling process and the competitive advantages of our company. You will also begin earning signing bonuses and building portfolio equity (explained in more detail on the web site).

This is where you begin working towards vesting. New Relationship Managers become vested on the first day of the month following the calendar month in which your portfolio generates gross monthly margin of $10,000 for all merchants sold. If you are selling at the goal (8 merchant equivalents per month), it will take you less than 15 months to become vested (assuming zero attrition). The more you sell, the faster you will become vested.

Here is where the fun really begins by working toward attaining an annual income of 6 figures. If you are selling at a rate of 8 merchant equivalents, this takes less than 36 months. If your rate is 15 merchant equivalents, it will take less than 18 months.

The fourth stage is to build value - if you want to - as an owner of the most dynamic payments company in the business. Obviously, there are a lot of factors here - some under your control and others that depend on the success of our entire team and still others that depend on the state of the US economy. The variables you control are monthly residual earnings and merchant attrition.

It's Up To You

If you've come this far, I invite you to take a few more minutes exploring the Heartland Teammate site to find out more about this unique career opportunity. We are looking for a limited number of people who will make the best fit for us.

If your personal career puzzle pieces don't seem to fit, we wish you the very best and thank you for taking the time to learn about Heartland. However, if it looks like all the pieces are finally fitting together for you, then please send us your resume today at hr@e-hps.com. I wish you the best of luck and thank you for giving me this opportunity to tell you about our company. Let's successfully complete this puzzle together.