Wal-Mart / MoneyGram Alliance Will Expand Customer Options for Global Money Transfer Needs

New service will provide great value at everyday low price

LAKEWOOD, Colo., April 26, 2002 - U.S. residents who wish to send money to family and friends throughout the world now have more convenient community locations and lower-priced options, thanks to an alliance between MoneyGram Payment Systems, Inc, and Wal-Mart Stores, Inc. (NYSE:WMT).

After testing the money transfer service in 100 Wal-Mart stores in the U.S., MoneyGram and Wal-Mart announced Thursday that they are rolling out the service to all Wal-Mart stores nationwide. The Wal-Mart Money Transfer by MoneyGram service will be available at the stores' customer service desk in all 2,760 U.S. Wal-Marts just in time for Mother's Day -- the wire transfer industry's busiest transaction period.

Customers trust Wal-Mart's everyday low price philosophy and this new service will meet their needs by offering a convenient way to transfer money to family and friends in 150 countries. Customers will be able to receive funds at 261 Wal-Mart stores in Mexico as well as MoneyGram locations throughout the world.

Phillip W. Milne, president and chief executive officer of Travelers Express/MoneyGram, said the company is very pleased with the alliance, which resulted from the goal of both MoneyGram and Wal-Mart to provide greater value and service to consumers.

"Our agreement with Wal-Mart is a remarkable example of how customers can benefit from quality businesses that share a common philosophy," Milne said. "Specifically, customers who go into a Wal-Mart store can now send funds electronically to 150 countries at a price and value they've learned to expect."

Michael A. Cook, director of financial services with Wal-Mart, added that in Mexico, customers have been able to receive money transfers at the 261 Wal-Mart locations, including Wal-Mart Supercenters, Bodegas, Superamas and Suburbias, for the past two years.

"We are constantly looking for ways to bring new services to our customers at everyday low prices," said Cook. "Through our relationship with MoneyGram, our customers in the United States can now send funds to Mexico for a flat fee along with the most competitive exchange rates in the industry. Wal-Mart continues to offer consumers one of the best overall values for money transfer services. We have provided an exceptional value by offering our customers in Mexico an additional 20 Pesos (approximately $2) in-store certificate for every transaction received at one of our locations in Mexico."

Cook continued, "As another added-value our customers will be able to send a 10-word message with the transferred funds through the Wal-Mart network. They will also be able to immediately make a free three-minute phone call to friends and family in select countries to let them know the money is waiting for them."

About MoneyGram
MoneyGram, a subsidiary of Travelers Express Company, Inc., is a leading money transfer services company with over 50,000 locations in more than 150 countries around the world. Travelers Express Company (www.temgweb.com) is a subsidiary of Viad Corp (NYSE:VVI) and provides payment services including money orders for the financial and retail markets.

About Wal-Mart Stores, Inc.
Wal-Mart Stores, Inc. employs more than one million associates in the United States and more than 300,000 internationally. As of March 31, 2002, Wal-Mart operates more than 2,760 discount stores, Supercenters and Neighborhood Markets, and more than 500 SAM'S CLUBS in the United States. Internationally, the company operates more than 1,183 units in Argentina, Brazil, Canada, China, Germany, South Korea, Mexico, Puerto Rico and the United Kingdom. Wal-Mart's sales for 2002 were approximately $218 billion. The company's securities are listed on the New York and Pacific stock exchanges under the symbol of WMT. More information about Wal-Mart can be located online at www.walmartstores.com.