• Winner is a resident of  a community managed by Alliance Residential Company
• Grand Prize is the Single Largest Given to a Resident in the Multifamily Industry in 2008
• Concludes Successful Program that Increases Electronic Payment Usage Among Residents by Average of 41%

Oakland, CA – October 2, 2008 - PropertyBridge, Inc., a MoneyGram company, and the leading provider of electronic payment services to the residential real estate management industry, today announced the grand prize winner of its 2008 $20,000 Resident Sweepstakes Program.

Utah resident Kyle Williams won the top prize of $20,000. Kyle is a student at Utah Valley University and works part time.

“I can’t believe I won, just by paying my rent using PropertyBridge,” stated Williams. “When I got the call, I didn’t believe it was true. My mom actually called PropertyBridge to confirm that it was legitimate.” When asked what he will do with his winnings, Williams responded “I would like to be responsible with it. Save it. Make my parents proud. But can’t say that I won’t have some fun with it too!”

“PropertyBridge has demonstrated why they have the highest enrollment and usage of any automated payment’s platform in the multifamily industry,” stated Michelle Betchner, Vice President of Performance at Alliance Residential. "With the boost provided by the Sweepstakes, we increased our electronic transactions by 298% in a six month period. That is truly extraordinary, far beyond industry standards. It’s an added bonus that the grand prize winner was one of our residents.”

Alliance wasn’t the only PropertyBridge client to see explosive transaction growth over the promotion period. Of the participating property management companies, 68% had double or triple digit growth. Some of these include Metric Property Management, Greystar Real Estate Partners, Lincoln Property Company and Mark-Taylor Residential.

The winner was chosen by a random drawing from more than 150,000 entries received during the February 1, 2008 through July 31, 2008 promotion period. Residents of all participating PropertyBridge communities were entered to win each time they paid their rent with PropertyBridge throughout the promotion period. A “no purchase necessary” method of entry was also available for interested consumers.

“Our hearty congratulations to Mr. Williams. As our client base continues to flourish, ensuring utilization of our various payment types across our client’s portfolios is an absolute priority. Our 2008 Sweepstakes has been a huge asset in encouraging more and more residents like Kyle to use our system,” stated Jason Gardner, Vice President of PropertyBridge.

In addition to the $20,000 grand prize, PropertyBridge awarded more than $5,000 to 18 residents that won monthly prizes over the promotion period. The company also contributed over $50,000 in marketing and support for clients participating in the program. Click here to see all winners.

About PropertyBridge, Inc.

PropertyBridge, a MoneyGram Company, is the leading electronic payments processor for property managers and real estate owners in the multifamily housing industry. The PropertyBridge Payments Platform enables residents to pay rent and other lease-related transactions using multiple payment types, including credit and debit cards, Automated Clearing House (ACH), check scanning (Check 21) and cash payments at more than 30,000 MoneyGram agent locations. PropertyBridge’s rent payment solutions are fully integrated with the accounting systems and business processes of property management firms. Residents can pay rent online, by phone or in person and set up recurring payments. The company collaborates extensively with financial services leaders including Visa USA, MasterCard, Discover Financial Services, American Express, Wells Fargo Bank and First National Bank of Omaha. MoneyGram, Inc. acquired PropertyBridge in October 2007.

Contacts

Peter Mansfield
Vice President of Marketing

PropertyBridge, Inc.
pmansfield@propertybridge.com