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AMERICAN EXPRESS MONEYGRAM EXPANDS SERVICE IN PHILIPPINES; TWO BANKS JOIN 10-MINUTE MONEY TRANSFER NETWORK

 AMERICAN EXPRESS MONEYGRAM EXPANDS SERVICE IN PHILIPPINES;
 TWO BANKS JOIN 10-MINUTE MONEY TRANSFER NETWORK
 ENGLEWOOD, Colo., Aug. 7 /PRNewswire/ -- American Express(R) MoneyGram has expanded its 10-minute worldwide money transfer service in the Philippines by adding two large Manila-based banks to its agent network. Philippine Commercial International Bank (PCIBank) and Rizal Commercial Banking Corp. (RCBC), both with branches throughout the country, will begin receiving and paying out American Express MoneyGram transfers from around the world on Aug. 20.
 The two banks will begin the service with coverage of metro Manila through 10 branches each. The service eventually will roll-out to all of the Philippine Islands through PCIBank's 200 branches, the country's largest, and RCBC's 52 branches.
 The addition of PCIBank and RCBC dramatically expands the availability of American Express MoneyGram in the Philippines. Previously, American Express MoneyGram provided money transfers to the country through the two American Express - PCI Travel offices in Manila and Cebu, which continue to provide the service.
 Transfers to the Philippines will be available for pick-up within 10 minutes of the time they are sent. The transfers will be paid in Philippine Pesos. Exchange rates will be determined at the time of payment at the best available rate.
 "Expansion of our service in the Philippines is a key part of our plan to provide the best and fastest money transfer service to the Orient," said Isaac Lasky, vice president, American Express MoneyGram International. "With more than three million people of Philippine descent living around the world, our service will be very important in helping them maintain their family ties."
 American Express MoneyGram is the fastest-growing international money transfer service. Transfers to most international locations are available for pick-up usually within 10 minutes. The service is available at more than 12,000 locations in 62 countries.
 American Express MoneyGram is managed by Englewood-based Integrated Payment Systems Inc. (IPS), which also manages American Express(R) Money Orders. IPS is a wholly owned subsidiary of First Data Corp.(SM) (NYSE: FDC). FDC, headquartered in New York, is a provider of high quality information processing and related services to the credit card, consumer funds transfer, telemarketing/teleservices, mutual fund, health care and cable television industries. FDC had net income of $118 million on revenue of $1.026 billion in 1991.
 -0- 8/7/92
 /CONTACT: Peter Ziverts of Integrated Payment Systems, 303-488-8017/
 (FDC) CO: American Express Integrated Payment Systems Inc.; First Data
 Corp.; Philippine Commercial International Bank; Rizal
 Commercial Banking Corp. ST: Colorado IN: SU:


MC -- DV001 -- 7876 08/07/92 08:01 EDT
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Publication:PR Newswire
Date:Aug 7, 1992
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