Empresas y finanzas

Western Union Secures Top Agents for Philippines Market



    The Western Union Company (NYSE: WU), a global leader in money
    transfer services, has signed new, multi-year agreements with three of
    its top agents in the Philippines to offer Western Union(R) money
    transfer services. The three companies - Universal Storefront Services
    Corporation, e-Business Services Inc and PETNET Inc - together
    represent nearly 4,800 Western Union Agent locations in the
    country(1).

    In addition, the company has increased its existing footprint with
    the addition of three new agents in the Philippines: Direct Agent 5
    Inc., a consortium of consumer service enterprises; JP Tambunting
    pawnshops and Davao-based retail chain EMCOR Incorporated.

    "The Philippines is a very important market for Western Union,"
    said Mr. Ian Marsh, Executive Vice President, Asia Pacific, The
    Western Union Company. "Outside of the United States, it is second
    only to Mexico for inbound remittances and has tremendous growth
    potential as both a key receive and intra-country market."

    The Philippines is the fourth largest receiver of remittances in
    the world, according to the World Bank(2). The Bangko Sentral ng
    Pilipinas (Philippines Central Bank) estimates that remittances from
    overseas will exceed $14 billion this year. There are currently over
    eight million Filipino workers overseas(3).

    "Together, e-Business, PETNET and USSC, have 38 years of
    experience offering Western Union money transfer services. Their
    continued commitment to consumers, will be complimented by the
    addition of our newest Agent locations, creating even greater levels
    of convenience and choice for consumers, allowing Western Union to
    continue delivering on its promise of service quality," Marsh added.

    About Western Union

    Western Union (NYSE: WU), together with its affiliates Orlandi
    Valuta and Vigo, is a leading provider of global money-transfer
    services, providing people with fast, reliable and convenient ways to
    send money around the world, pay bills and purchase money orders
    through a network of more than 312,000 Agent locations in over 200
    countries and territories. For more information, visit
    www.westernunion.com.

    About E-Business Services Inc

    eBusiness Services Inc.,(eBiz) a fully owned subsidiary of
    iVantage Corp., a publicly listed company, was Western Union's first
    network agent in Asia Pacific. With Western Union money remittance as
    its core business, eBiz completes its offering of financial services
    to its local communities with other services like mutual funds, money
    exchange services, Visa cash cards, Bayad Center payment system and
    cell phone loading stations. eBiz has a nationwide network of
    company-owned locations and sub-agents locations in almost every town
    and city of the country.

    About Petnet Inc

    PETNET was established in 1998 with a mandate to expand the
    Western Union network in the Philippines. Today, it has the largest
    network in the country in cooperation with 400 business partners
    including rural banks, pawn shops, business centers, money changers,
    co-ops, and supermarkets. PETNET has been recognized as the fastest
    growing Western Union agent for the Asia Pacific Oceania region for
    the last 2 years. It has also been cited for public service, being a
    key player in providing free heart surgery for indigent minors.

    About Universal Storefront Services Corporation

    USSC-owned stores branded as "RCPI" are strategically located
    nationwide to form an efficient distribution network that helps to
    meet the growing needs of the country's urban and rural communities.
    USSC's RCPI stores service customers of Western Union Money Transfer,
    Airline and SuperFerry Tickets, Prepaid Cellphone Load, Bayad Center,
    Domestic & International Fax, and Long Distance. The company has been
    an agent for Western Union Money Transfer for 12 years, winning the
    Western Union Asia Pacific Agent of the Year award in 2001 and 2003.
    It has also been the recipient of numerous sales awards from its
    airline and sea line principals.

    (1) Network data as of September 1, 2007

    (2) Source: World Bank Migration and Remittance Factbook June 2007

    (3) Source: Data from December 2004 Estimates prepared by the
    Commission on Filipinos Overseas from CFO, DFA, POEA and other sources
    covering 194 countries/territories.

    WU-G