MINNEAPOLIS, MN., Dec. 3, 2004 -- Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision technology, announced today that the Wyoming Workers' Safety and Compensation Division (WSCD) has implemented VeriComp(R) Fraud Manager to enhance its workers' compensation fraud detection capabilities. VeriComp Fraud Manager will enable WSCD to detect fraud and abuse much earlier and more accurately in its claims review process, resulting in reduced claims losses and a streamlined payment decision process.

As the exclusive workers' compensation insurer in Wyoming, effectively fighting fraud and abuse is a major priority for WSCD. VeriComp Fraud Manager scores claims on the likelihood of fraud and abuse, lowering costs by helping claims adjusters identify potentially fraudulent or abusive claims early, and allowing them to focus only on claims requiring their scrutiny. Using Fair Isaac's advanced predictive analytics, VeriComp Fraud Manager can recognize abnormal patterns that even the most experienced adjuster might miss.

"Finding fraud and abuse early is critical to containing costs for our insureds," said Gary W. Child, administrator of the Wyoming Workers' Safety and Compensation Division. "We believe that VeriComp Fraud Manager will dramatically improve our ability to discover fraud and abuse and help keep the cost of workers' compensation claims as low as possible. By utilizing VeriComp and its Industry Alliance data pool, we feel confident that we will be more productive and more accurate in assessing which claims should be investigated for fraud and abuse."

In addition to a new Web-based Application Service Provider (ASP) delivery method, VeriComp Fraud Manager is available using an Industry Alliance database, which offers insurance payers the advantage of predictive models built with millions of industry claims. While pooling fraud data in an Industry Alliance has been common in the financial services industry, the Fair Isaac Industry Alliance is the first offering of its kind for the workers' compensation industry. Comparing claims against a large pool of industry data helps assure that claims are scored more accurately.

"For many years, VeriComp has been an unequalled solution for detecting fraud, abuse and exceptions early in the life of a claim," said Joel Portice, vice president, predictive property and casualty solutions at Fair Isaac. "With our new Fraud ASP and Industry Alliance models, we can offer this industry-leading technology to a wider range of workers' compensation insurance payers. Increasingly, Fair Isaac analytics are helping reduce the cost of workers' compensation for employers across the country."

In comparison tests using VeriComp Fraud Manager, 50 percent of claims were identified weeks before or months before they were discovered manually, and the software often discovered suspicious claims that would have been missed by insurance claims analysts. Fair Isaac customers have experienced a return on investment of 20 to 1, or up to $300 per claim in savings based on previously undetected fraud.

Fair Isaac software products and services process more than $4.4 billion annually in property and casualty claims. They are in use in the operations of nine of the top 10 property/casualty carriers and 65 percent of the nation's state workers compensation funds. In 2003, Fair Isaac saved its customers more than $2.3 billion in claims costs.

About Fair Isaac

Fair Isaac Corporation (NYSE:FIC) is the preeminent provider of creative analytics that unlock value for people, businesses and industries. The company's predictive modeling, decision analysis, intelligence management, decision management systems and consulting services power billions of mission-critical customer decisions a year. Founded in 1956, Fair Isaac helps thousands of companies in over 60 countries acquire customers more efficiently, increase customer value, reduce fraud and credit losses, lower operating expenses and enter new markets more profitably. Most leading banks and credit card issuers rely on Fair Isaac solutions, as do insurers, retailers, telecommunications providers, healthcare organizations and government agencies. Through the www.myFICO.com Web site, consumers use the company's FICO(R) scores, the standard measure of credit risk, to manage their financial health. For more information, visit www.fairisaac.com.

About the Wyoming Workers' Safety and Compensation Division

Organizational Structure

In addition to administration, the Workers' Safety and Compensation Division (WSCD) is composed of eight operating units: Administrative and Fiscal Support, Business Projects, Case Support Services, Claims, Information Technology, Internal Audit and Compliance, Occupational Safety and Health (OSHA), and Training. The Office of the Medical Commission is considered an independent entity although it is funded by the division and is organizationally located under the division. Additional legal support is provided to the Workers' Compensation Division through the Attorney General's Office, W.S. 27-14-602(c), and the Office of Administrative Hearings, W.S. 27-14-602(a).

Clients Served

Workers' safety and compensation clients include workers injured in the course of their employment with covered employers, required coverage employers, those employers who elect coverage for their non-extra hazardous employees, and employers that fall under Occupational Health and Safety Regulations programs.

Fair Isaac Statement Concerning Forward-Looking Information

Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac, including statements regarding its VeriComp Fraud Manager product offering and the benefits to be derived from this offering, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including any unforeseen technical difficulties related to the implementation, use and functionality of the offering, the risks that customers will not perceive material benefits from the offering, failure of the product to deliver the expected results, the possibility of errors or defects in the offering, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2003, and quarterly report on Form 10-Q for the period ended June 30, 2004. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac's results could differ materially from Fair Isaac's expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements.

Fair Isaac, VeriComp and FICO are trademarks or registered trademarks of Fair Isaac Corporation, in the United States and/or in other countries. Other product and company names herein may be trademarks of their respective owners.

Fair Isaac Corporation
John Emerick, 800-213-5542 (Investors/Analysts)
investor@fairisaac.com
Angela Carlson, 415-492-5373 (Media)
acarlson@fairisaac.com