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No Borders Founder Interviewed by Businessweek Magazine in Article Entitled ``Embracing Illegals -- Companies Are Getting Hooked on the Buying Power of 11 Million Undocumented Immigrants''.


LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850.  -- No Borders, Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:NBDR), in the business of providing financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
 to immigrants of developing countries, announced today that the company has been featured in the cover story article of Businessweek magazine.

R. Michael Rosenfeld, acting CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of No Borders, announced that Raul Hinojosa, Co-Founder of No Borders and an Associate Professor of Political Economy at the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States).  at Los Angeles, was interviewed by Brian Grow in the article entitled "Embracing Illegals; Companies are getting hooked on the buying power Buying Power

The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available.

Also referred to as "Excess Equity.
 of 11 million undocumented immigrants." The article focuses on the money that illegal immigrants spend and transfer, and discusses the growing market for services and products targeted to illegal immigrants. No Borders' strategy and vision is to provide low cost stored value card services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card.  and products for international consumers, and to capture market share in this rapidly growing industry of both documented and undocumented immigrants. The full article can be viewed at www.businessweek.com by clicking on the cover story.

No Borders' business focus is to provide a debit and stored value card platform through which the vast immigrant population and their families back home can access a variety of low cost financial services and products. This focus varies significantly from the focus of companies engaged in providing money transfer services. No Borders, through its alliances with licensed remittance companies and its proprietary stored value card platform, offers immigrant customers the ability to send money back home at a significantly lower cost than is currently charged by competitors. However, at the same time, through its card platform, No Borders offers to the same customers the ability to use its bank issued debit cards to store cash, access ATMs, pay for goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax.  at retail outlets, and access the panoply pan·o·ply  
n. pl. pan·o·plies
1. A splendid or striking array: a panoply of colorful flags. See Synonyms at display.

2.
 of quality low cost goods and services No Borders' current and future alliance partners will offer the No Borders' cardholders, such as the current medical discount plan, and in the future, low cost mortgages, business loans and bill payment services, among many others.

Dr. Hinojosa believes that this riation to the current financial services market is full of potential. Mr. Rosenfeld stated that "the vision created by our co-founder, a true expert in this field, and the platform and business models the Company has created, will, we firmly believe, allow No Borders to penetrate this massive market as we go head to head with companies like First Data Corp.'s (FDC FDC - Floppy Disk Controller ) Western Union Financial Services and other wire transfer service enterprises."

Recently at a No Borders outlet in Venice, Calif., 26-year-old Felix Castillo (not his real name), an undocumented immigrant from Santa Ana Santa Ana, city, El Salvador
Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region.
 de Valle, Mexico, showed off his 4-month-old son, Lucas, to his grandparents grandparents nplabuelos mpl

grandparents grand nplgrands-parents mpl

grandparents grand npl
 at home in Mexico via a 52-inch TV and a Webcam. No Borders' affiliates have set up outlets in small villages in Mexico to make such connections. The cost to the consumer is $25 for 30 minutes. On both sides of the border, the families chatted using their Zapoteca dialect. Castillo's parents had never seen their grandson. "I hadn't seen my mother in four years. Now, I've seen her three times in three months," says Castillo, a food runner at a Venice restaurant who crossed the border seven years ago. Mr. Rosenfeld stressed that "providing access to such a meaningful service for a reasonable price further intertwines, and in some small way enriches the lives of, long separated family members who reside in different countries. At the same time, providing this service creates customer awareness and an additional profitable revenue source for No Borders."

Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 Statement

Certain statements in this release and other written or oral statements made by or on behalf of the company are "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. The forward-looking statements are subject to a number of risks and uncertainties, including market acceptance of the company's services and projects, and the company's continued access to capital and other risks and uncertainties outlined in its filings with the Securities and Exchange Commission, which are incorporated herein by reference. The actual results the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statement. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Jul 13, 2005
Words:771
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