MoneyGram International Ltd. and Bank of Communications Sign Agreement to Provide MoneyGram Service in China

Nov 05, 2002, 00:00 ET from Viad Corp

    LAKEWOOD, Colo., Nov. 5 /PRNewswire-FirstCall/ -- The Bank of
 Communications and MoneyGram International have signed an agreement that will
 offer MoneyGram service throughout China.  A signing ceremony was held at the
 new headquarters of the Bank of Communications in Shanghai, China on
 November 1.
     Bank of Communications is the first joint-stock commercial bank in China
 and is one of that country's leaders in the remittance business.  MoneyGram
 service will be introduced initially at bank branches in major cities and then
 rolled out to other cities step by step.  Customers will soon be able to send
 funds anywhere in the world through the MoneyGram network at any of the Bank
 of Communication's 2,700 outlets in 86 Chinese cities and five overseas
     MoneyGram International is one of the leading remittance companies in the
 world.  With more than 55,000 agents in 150 countries, the company is a
 subsidiary of Travelers Express Company, Inc. ( ).  Travelers
 Express, a subsidiary of Phoenix-based Viad Corp (NYSE:   VVI), is known as a
 leader in the payment services industry, providing services to both the retail
 and financial institution markets.
     For further information please contact Angela Phoenix of Viad Corp,
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SOURCE Viad Corp