Coinstar Money Transfer Signs with Land Bank to Develop the Remittance Business from Italy

ROME--(BUSINESS WIRE)--Coinstar Money Transfer, one of the global money transfer companies announced its agreement with state owned bank of Philippines Land Bank to develop remittances business from Italy.

This agreement is another key component of Coinstar Money Transfer aggressive development strategy in Italy to broaden consumer’s options for a fast and reliable money transfer service aiming to the Filipino community, who will finally be able to send money from any Land Bank branch in Italy at competitive fees.

"This is a significant market considering that the Filipino community is the 3^rd largest foreign community in Italy, while being of the most dynamic and productive communities in the country. We are looking to expand our Filipino remittance businesses and we appreciate to have Land Bank as a strategic partner in this peculiar market. This strategic agreement paves the way for expanding our cooperation also in the Philippines, where Land Bank is amongst the most respected financial institutions and the strongest player in the rural areas of the country. The agreement signed in Italy is the basis for a wider cooperation also in the Philippines where Land Bank has one of the largest banking network, highly recognized and respected by consumers" commented Mr. Alfonso Grassopoulos, Regional Director of Coinstar Money Transfer for Italy, Greece, Cyprus, Switzerland, Albania and Poland.

Mrs. Elsa Asuncion Lim, Managing Director of LBP Financial Services SpA in Italy added “Through this strategic cooperation Land Bank will offer the Filipino community a new, convenient and affordable way to send money to their families. LBP is continuously expanding its global reach aiming to be aside our people abroad and we always support and promote products and services that are to their benefits."

About Coinstar Inc.

Coinstar ® Money Transfer provides an easy to use, reliable and cost effective way to send money around the world. Our services are specially suited for individuals away from home who need to send money to their family and friends or to manage their personal finances. Coinstar Money Transfer (CMT) has become one of the leading money transfer providers, with over 50,000 locations and operates in 150 countries worldwide.

To find out more about Coinstar Money Transfer visit: www.coinstar.com and www.cmtmoney.com.

About Land Bank

The Land Bank of the Philippines is a government financial institution that strikes a balance in fulfilling its social mandate of promoting countryside development while remaining financially viable. Today, LANDBANK is by far the largest formal credit institution in the rural areas and ranks among the top five commercial banks in the country in terms of deposits, assets, loans and capital. From its initial role as the financing arm of the agrarian reform, LANDBANK has evolved into a full-service commercial bank.

To find out more about Land Bank visit: www.landbank.com.

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