MoneyGram Launches Internet Service for Money Transfers; Yahoo! Brings MoneyGram Service To PayDirect

LAKEWOOD, Colo.--(BUSINESS WIRE)--March 9, 2004--MoneyGram Payment Systems, Inc., a leading money transfer company, announced today the launch of Internet service for its money transfers. The new service, called MoneyGram e-Money Transfer, allows consumers to send MoneyGram(R) money transfers through personal computers by simply logging on to www.moneygram.com and debiting their bank accounts or by paying with credit or debit cards. Recipients can pick up the funds the same day at any of MoneyGram's over 60,000 agent locations world-wide.

MoneyGram's ExpressPayment urgent bill payment service is also part of MoneyGram's new Internet service package. ExpressPayment is typically used for paying auto loan, home mortgages or credit card bills. Now ExpressPayment customers have the choice of paying those bills from a personal computer or by bringing cash to any MoneyGram agent location.

“Our new Internet service helps people by providing affordable, reliable and convenient domestic and international money transfers”

As the result of a recent agreement between MoneyGram and Yahoo!, a leading provider of comprehensive online products and services to consumers and businesses worldwide, the MoneyGram service on the Internet is now also available through Yahoo! PayDirect's Web site.

"Our new Internet service helps people by providing affordable, reliable and convenient domestic and international money transfers," said Phil Milne, chief executive officer of Travelers Express Company, Inc., MoneyGram's parent company. "We expect Internet service will be very popular with many of our busy customers who will now be able to send money around the world at any hour of the day from the convenience of their personal computers. Our relationship with Yahoo! PayDirect ensures even greater accessibility to MoneyGram Internet service."

MoneyGram has agents in 160 countries. The company is owned by Travelers Express Company, Inc., a subsidiary of Viad Corp (NYSE:VVI). For more information or to locate a MoneyGram agent, visit the company's website at www.moneygram.com.