news RELEASE

PropertyBridge Announces Sweepstakes Program

Program Promotes Electronic Payments by Renters

Oakland, CA - February 1, 2008 - PropertyBridge, Inc., a MoneyGram company, and the leading provider of electronic payment services to the residential real estate management industry,

announced that it is launching a national sweepstakes program to promote the use of electronic payments by renters in the United States. The sweepstakes program, launching today, includes offers for residents and management teams at residential housing communities that use the PropertyBridge Payments Platform.

Residents of participating properties will be eligible to win cash prizes of up to $20,000, awarded monthly through August. Community managers will soon be eligible to participate in a separate contest with prizes that include a weekend getaway for two in Las Vegas, or $2,500 in cash.

According to Ryan Gilbert, Vice President of PropertyBridge, “The sweepstakes program is a commitment to PropertyBridge’s core philosophy - for an automated payments solution to be successful there must be a win-win for both residents and their property managers. Our enrollment and usage rates already surpass those of any other payments platform in the multifamily housing industry. This sweepstakes program will further encourage wide scale use of our offerings.”

PropertyBridge will fund the costs of the sweepstakes and contest, including all prizes. Property management firms will also be provided with extensive marketing support by PropertyBridge to publicize the sweepstakes.

This promotional program adds to PropertyBridge’s extensive support resources for boosting the adoption levels of its Payment Platform. PropertyBridge also offers its property management clients tailored marketing programs and management reports to track performance and maximize return on investment.

Go to Sweepstakes Overview page

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/ARC), cash payments at MoneyGram agent locations, online bank bill payment, and lockbox services. 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
pmansfield@propertybridge.com