MoneyGram International Merges Operating Companies, Retires Travelers Express Name and Re-brands Money Orders

Minneapolis, Minn., Jan. 3, 2006 - MoneyGram International, Inc., (NYSE:MGI), a leading global payment services company, merged its operating companies of Travelers Express Company, Inc. and MoneyGram Payment Systems, Inc., and on Jan. 1 retired the Travelers Express name. The consolidated operating company is keeping the MoneyGram Payment Systems name and applying the MoneyGram brand to all products including the well-known Travelers Express money order.

Travelers Express, which was founded in 1940 as a small money order company, acquired the MoneyGram money transfer business in 1998. Parent company MoneyGram International aims to build stronger brand identity in the marketplace by uniting both companies under the united MoneyGram banner.

"For generations, millions of families have depended on Travelers Express money orders to pay the rent or their electric and phone bills," said Phil Milne, president and chief executive officer of MoneyGram International. "Our customers have made Travelers Express the largest money order company in the nation, and our new MoneyGram brand money order is one they can continue to trust for their important payment needs. The money order has a new fresh design, and the information will be in both English and Spanish on the front."

The MoneyGram money orders will be phased in around the U.S. during 2006 as the stock of Travelers Express money orders at agent locations is depleted. Travelers Express money orders in circulation will continue to be valid and honored by MoneyGram.

"We believe consumers and businesses will find the MoneyGram brand as the affordable, reliable and convenient choice, no matter which of our payment services they may use," said Milne.

MoneyGram International, Inc. is a leading global payment services company and S and P MidCap 400 company. The company's major product and services include global money transfers, money orders and payment processing solutions for financial institutions and retail customers. MoneyGram is a New York Stock Exchange listed company, with over $825 million in revenue in 2004 and approximately 84,000 global money transfer agent locations in 170 countries. For more information, visit the company's website at www.moneygram.com.

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