Western Union Begins Investor Road Show for Upcoming Spin-off

Western Union today announced that it will be making presentations to the equity investment community in preparation for its planned September 29, 2006 spin-off from First Data Corp. The meetings will be led by Christina Gold, President and Chief Executive Officer of Western Union, David Barnes, Executive Vice President of Finance and Strategic Development, and Scott Scheirman, Executive Vice President and Chief Financial Officer. The company’s road show presentation is available at www.westernunion.com. Financial Outlook

Western Union will provide financial guidance during the presentations. Assuming completion of its separation from First Data on September 29, 2006, Western Union expects revenue for 2006 of $4.4 billion to $4.5 billion, an increase of between 11% and 12% from 2005 revenue of $4.0 billion. For 2006, the company expects operating income of $1.32 billion to $1.34 billion, excluding expenses related to its spin-off from First Data, which is 4% to 6% higher than 2005.

For 2007, Western Union expects revenue growth in the range of 10% to 12%, excluding acquisitions. In addition, the company expects operating income growth of 6% to 9%, excluding the impact of expenses related to its spin-off from First Data. A chart detailing the company’s guidance is attached to this release.

Western Union’s long-term objective beyond 2007 is to deliver revenue and operating profit growth of 10% to 12% on an annual basis and annual EPS growth of 12% to 14%.

Ms. Gold said: “Western Union has a compelling long-term growth story, with the proven strategy and track record, global agent network, seasoned management team and financial strength to remain the preeminent provider of money transfer services across the globe. The separation from First Data creates rich new opportunities for the company to invest its strong cash flow in continuing to expand services in key growth regions of the world; in marketing efforts, including our highly successful Gold Card Loyalty program; and in continuing to enhance customer convenience and choice. We see favorable long-term trends in the global money transfer market and, as an independent company, will be better positioned to capture them.”

Ms. Gold continued: “In the near term, we expect the company will continue to be affected by softness in its U.S. domestic and U.S. to Mexico consumer-to-consumer money transfer businesses. As previously discussed, we believe the slower growth rates in these markets largely reflect the uncertainty caused by the immigration debate and the related activities in the U.S. In addition, our operating profits for 2006 and 2007 will reflect increased investment in the business to address this issue, to secure future growth, as well as the shift in our business mix, reflecting higher growth from our international business, which carries lower profit margins.”

Ms. Gold concluded: “We believe the slowdown related to the immigration debate is a temporary issue, and our 2007 guidance assumes revenue growth in the U.S. and U.S. to Mexico businesses will begin to improve but will not reach levels experienced in 2005. In addition, we expect that our international consumer-to-consumer money transfer business, which currently represents 60% of our revenues and does not include U.S. to Mexico transactions, will remain strong throughout 2006 and 2007. The geographic diversity of our business, which is a key strength for Western Union, should enable us to generate solid results despite the temporary issues we are addressing in the U.S. and U.S. to Mexico markets.”

Third Quarter Financial Update

During its road show presentation, Western Union will also provide updates on several transaction growth rates excluding Vigo. For the third quarter through September 14, the company’s overall consumer-to-consumer transactions grew 15% on a year-over-year basis. International transactions grew 23% for the same period. In addition, for the third quarter through September 14, Western Union-branded transactions from the U.S. to Mexico grew 3% on a year-over-year basis, while domestic transactions declined by 4%.

Western Union expects to issue its third quarter 2006 earnings press release after the market close on October 23. The company will also host a conference call.

Non-GAAP Measures

In certain circumstances results have been presented that are non-GAAP (generally accepted accounting principles) measures and should be viewed in addition to, and not in lieu of, the company’s reported results. Reconciliations to comparable GAAP measures are available in the accompanying schedule to this press release.