MoneyGram Signs Strategic Alliance with Banorte; Adds 1,186

 Locations in Mexico  
Business Editors  
LAKEWOOD, Colo.--(BUSINESS WIRE)--April 16, 2002--MoneyGram 
Payment Systems, Inc., has signed a strategic alliance with Banco 
Mercantil del Norte, S.A., to provide its electronic money transfer 
service for U.S. customers sending funds to Mexico. Banco Mercantil 
del Norte, S.A., doing business as Banorte, is one of the largest 
banks in Mexico and the principal subsidiary of Grupo Financiero 
Banorte.  
The agreement, signed April 16 at Banorte's headquarters in Mexico 
City, will make MoneyGram's Cambio Plus service the featured money 
transfer service at Banorte's locations throughout Mexico. Cambio Plus 
service allows customers to send any amount of money to Mexico in 10 
minutes for a flat $15 fee and offers one of the most competitive peso 
payout rates in the industry. In addition, customers receive a free 
3-minute telephone call and an additional 5 percent discount off of 
the fees when they use their MoneyGram MoneySaver card.  
"MoneyGram's alliance with Banorte demonstrates our continued 
commitment to the Mexican market," said Tony Ryan, vice president and 
general manager for Travelers Express/MoneyGram. "This contract 
enhances MoneyGram's already strong presence in Mexico by adding 1,186 
Banorte branches to our extensive network of locations available for 
money transfer payouts."  
Banorte's Director of Commercial Banking Othon Ruiz Montemayor 
believes the alliance will bring forth "a fruitful working 
relationship, that will be characterized by the excellence of service 
rendered by two leaders in their respective industries. We are very 
enthusiastic about the new service we will provide customers through 
MoneyGram, a leader in the money transfer business."  
MoneyGram Payment Systems, Inc., a subsidiary of Travelers Express 
Company, is a leading money transfer services company with more than 
50,000 locations in more than 150 countries around the world. 
Travelers Express is a subsidiary of Viad Corp (NYSE:VVI) and provides 
payment services in the financial, retail and money transfer areas.  
Grupo Financiero Banorte (GFNorte) is 100% Mexican. Recently, they 
acquired Bancrecer, S.A., becoming the fourth in the market of 
deposits and third in credit approvals. This was an important step 
that kept them as a major competitor in their country. Banorte has a 
total of 1,186 locations and 2,700 ATMs throughout Mexico.  
Note: In addition to the transfer fees applicable to a 
transaction, a currency exchange rate set by MoneyGram or its agents 
will be applied. 
 
 
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