MoneyGram First to Introduce Money Transfer Service to South

Business Editors  
LAKEWOOD, Colo.--(BUSINESS WIRE)--July 10, 2000--MoneyGram 
International and Hanvit Bank have signed an agreement to provide 
international money transfer service to Korea, marking the first time 
a money transfer company has been introduced to millions of South 
South Koreans can receive funds with the well-known MoneyGram 
money transfer service at all 791 Hanvit Bank branches located in 
major cities all over the country. In addition, the agreement lets 
customers transfer money within 10 minutes to virtually anywhere in 
the world from 25 bank branches.  
According to Iain Blackwood, CEO of MoneyGram International, the 
new service is an immediate benefit for many South Koreans.  
"Now those people living and working in other countries such as 
the U.S., China and India can remit funds back to their families 
quickly, conveniently and safely," he said.  
Blackwood said other customers expected to use the service are 
students living abroad, foreign travelers in need of emergency funds 
and South Koreans who need to transfer funds domestically.  
The announcement was made at the Radisson Seoul Plaza Hotel by 
both companies' key officers -- Jin-Man Kim, CEO of Hanvit Bank and 
Iain Blackwood of MoneyGram International. Also present at the 
announcement were Mohit Davar, COO and CFO of MoneyGram International 
and Andrew Tse, managing director Asia Pacific of Thomas Cook Group.  
As South Korea's largest financial institution and one of the top 
100 banks in the world, Hanvit Bank has total assets of more than 
100 trillion won and offers a full range of banking services and 
products for both individuals and corporations. Hanvit Bank was 
created from the merger of The Commercial Bank of Korea and Hanil Bank 
on January 4, 1999.  
MoneyGram Payment Systems, Inc., a subsidiary of Viad Corp 
(NYSE:VVI), is a leading money transfer services company with more 
than 30,000 locations in more than 130 countries around the world. 
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