AACE Ace Cash Express

ACE Cash Express Extends Money Order Relationship With Travelers Express; ACE to Receive $3.4 Million in Signing and Annual Bonuses DALLAS, Oct. 30 /PRNewswire-FirstCall/ -- ACE Cash Express, Inc. announced today that it has extended its money order agreement with Travelers Express Company, Inc., a subsidiary of Viad Corp , for four years, through December 31, 2007, providing ACE customers with consistent, quality money order services. During the term of the amended agreement, ACE will continue to exclusively offer Travelers Express money orders at ACE's stores. The money order agreement, which ACE and Travelers Express entered into in 1998, was scheduled to expire on December 31, 2003. Under the amendment, Travelers Express will pay ACE a total of $3.4 million structured in a similar manner as the expiring agreement. During fiscal 2003, ACE sold money orders with a face value of $1.6 billion. ACE is also an agent for MoneyGram money transfers. In fiscal 2003, ACE customers sent $400 million MoneyGram money transfers, under an existing agreement with MoneyGram Payment Systems, Inc., an affiliate of Travelers Express. "This extension makes perfect sense for ACE, Travelers and our customers," said Jay B. Shipowitz, president and chief operating officer of ACE. "We have continued a long-term agreement that ensures our customers will receive consistent, quality service throughout ACE's owned stores." "ACE's network allows us to serve millions of customers across the country," said Tony Ryan, vice president and general manager of Travelers Express' Global Funds Transfer Group. "We look forward to continuing to provide quality products to ACE, and we're hoping to bring them even more innovative payment services in the future." Forward-looking Statements This release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are generally identified by the use of words such as "expect," "anticipate," "estimate," "believe," "intend," "plan," "target," "goal," "should," "would," and terms with similar meanings. Although ACE believes that the current views and expectations reflected in these forward-looking statements are reasonable, those views and expectations, and the related statements, are based on the assumptions of ACE's management and are inherently subject to risks, uncertainties, and other factors, many of which are not under ACE's control and may not even be predictable. Any inaccuracy in the assumptions, as well as those risks, uncertainties, and other factors, could cause the actual results to differ materially from those projected in the forward-looking statements. Those risks, uncertainties, and factors include, but are not limited to, matters described in ACE's reports filed with the Securities and Exchange Commission, such as: -- Competition within the check-cashing industry as well as from banks, saving and loans, short-term consumer lenders, and other similar financial services entities and from other retail businesses that offer products and services offered by ACE; -- Maintenance of relationships with providers of financing for ACE and with key providers of products and services either offered by ACE to its customers or used by ACE in its business; -- Changes in laws, regulations or accounting standards and decisions or actions taken by courts, regulators and governmental authorities; -- Availability of financing, suitable locations, acquisition opportunities and experienced management to implement ACE's growth strategy; -- Increases in interest rates, which would increase ACE's borrowing costs; -- Lawsuits and regulatory proceedings and their respective results, including settlements. ACE does not assume, but expressly disclaims, any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in ACE's views or expectations, or otherwise. ACE makes no prediction or statement about the performance of ACE's Common Stock. About the Company ACE Cash Express, Inc. is headquartered in Irving, Texas and is the largest owner, operator and franchiser of check-cashing stores in the United States. Founded in 1968, the Company had a total network of 1,174 stores, consisting of 968 company-owned stores and 206 franchised stores in 36 states and the District of Columbia as of September 30, 2003. ACE also operates self-service machines, which provide check-cashing or other financial services without the need for a service associate, at 20 company-owned store locations, 22 third-party bill-payment locations, and, during the tax season, ACE plans to place approximately 220 machines at H&R Block retail offices. ACE offers a broad range of check-cashing and other consumer financial services. ACE is one of the largest providers of MoneyGram wire transfer transactions, and it offers money orders, bill payment services, and prepaid local and long distance telecommunication services. Small, short-term consumer loans are also available to customers at various ACE company-owned stores. The Company's website is found at http://www.acecashexpress.com/ . About Travelers Express Travelers Express has about 100,000 Global Funds Transfer agents worldwide, providing service in more than 155 countries. It is a subsidiary of Viad Corp. DATASOURCE: ACE Cash Express, Inc. CONTACT: Eric Norrington, Vice President of Communications, +1-972-550-5032, or , or Darla Ashby, Director of Public Affairs, +1-972-550-5037, or , both of ACE Cash Express, Inc. Web site: http://www.acecashexpress.com/

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