NEWS RELEASE

PropertyBridge Launches 2009 Community Contest, Program for Property Managers to Boost Resident Payment Adoption

•  PropertyBridge funding more than $50,000 in prizes and marketing
• Unique contest with more than $1175 in prize money for each participating client
• More than 1,000 properties participating

Oakland, CA – February 12, 2009 - PropertyBridge, Inc., a MoneyGram company, and the leading provider of electronic payment services to the residential real estate management industry, today announced the launch of its 2009 Community Contest, a marketing promotion for community managers that runs February 1, 2009 to April 30, 2009.

Communities will compete against their peers to increase electronic payment transactions on the PropertyBridge system, including credit/debit cards, ACH, check scanning and cash payments at MoneyGram agent locations. Three monthly cash prizes and a grand prize will be awarded for each participating client. PropertyBridge is funding all promotion costs, totaling more than $50,000 in prizes and marketing materials.

“All of our communities are excited about the Community Contest,” said Trevor Bert, Controller for 155 properties managed by Dallas-based Westdale Asset Management. “We think it’s great that PropertyBridge does so much to help clients promote their electronic payments program, from customization of marketing materials to contests like these,” he added.

The Contest follows the company’s $20,000 Resident Sweepstakes in 2008 that helped PropertyBridge clients boost electronic rent payment by an average of 41%. “Our primary goal is to help clients get a strong ROI from their payments solution,” stated Leslie Olsen, Director of Product Management and Marketing at PropertyBridge. “To achieve this, we work with our clients to set business objectives, apply low-cost payment options, and offer the most comprehensive marketing and promotional programs in the industry,” she added.

To be eligible for participation, a property must be active on the PropertyBridge system by January, 2009 and offer at least one no-fee payment option for residents. For more information, visit http://propertybridge.com/contest.htm

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 40,000 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.

Contact

Summer Palma
Marketing Manager
(510) 463-3033
spalma@moneygram.com