MoneyGram Affirms Commitment to Philippines Market
MANILA, Philippines, August 12, 2004 - MoneyGram International Limited, (MIL), one of the world's leading money transfer services, announced in a press conference today its continuous growth of its network in the Philippines and its inauguration of the first home built with the Habitat Philippines.
John Hempsey, MIL chief executive officer, made the announcement today that he is pleased with the growth of the business in the Philippines and is determined to add in more locations in the country. Current strategic partners include Equitable PCI, PeraGram, RCBC, Bank of Commerce and PhilPost. Hempsey's visit is part of a region-wide tour of countries with MoneyGram operations.
MoneyGram money transfers are used predominantly by people without traditional banking relationships and people who are living/working in a country away from their family but send money back to their home country.
"We are truly excited with the growing network of MoneyGram's operations in the Philippines. This places us in a more strategic position to be of efficient service to Filipinos, most especially the overseas workers," Hempsey said.
Demonstrating support for the community it operates in, MoneyGram also announced a global partnership with Habitat for Humanity, a non-profit, non-denominational housing organization dedicated to eradicating poverty housing and homelessness from the world. The support amounts to US$200,000.00, a part of which will be distributed to Habitat for Humanity in the Philippines and will provide homes for several Filipino families.
"We believe that it would be fitting for us to contribute to a recognized organization that caters to an elementary but very important need: shelter. Habitat for Humanity mirrors the network that MoneyGram has and we wanted to be an integral part of the lives of the families that we would be assisting," Hempsey explained.
MoneyGram, one of the world's leading money transfer services, provides global person-to-person money transfer services which enable its customers to send money electronically to more than 68,000 locations world-wide in over 160 countries. The company, included in Standard & Poor's MidCap 400 Index, trades on the New York Stock Exchange under the "MGI" ticker following its spin-off from parent Viad Corp (NYSE: VVI). For more information or to locate a MoneyGram agent, visit the company's Web site at www.moneygram.com.