8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934

June 14, 2004
Date of Report (Date of earliest event reported)

VIAD CORP

(Exact name of registrant as specified in its charter)

DELAWARE	001-11015	36-1169950
(State or other jurisdiction of incorporation or organization)	(Commission file number)	(IRS Employer Identification No.)
1850 N. Central Ave., Phoenix, Arizona		85004
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (602) 207-4000

TABLE OF CONTENTS

	Item 7. FINANCIAL STATEMENTS AND EXHIBITS
	Item 9. REGULATION FD DISCLOSURE
SIGNATURES
EX-99.1
EX-99.2

Item 7. FINANCIAL STATEMENTS AND EXHIBITS

     (a) Not applicable.

     (b) Not applicable.

     (c) Exhibits

          99.1 – Investor Presentation of New Viad.

          99.2 – Investor Presentation of MoneyGram.

Item 9. REGULATION FD DISCLOSURE

Viad Corp (“Viad” or the “Company”) is currently working to separate its payment services business conducted by its subsidiary, Travelers Express Company, Inc., from its other businesses by means of a tax-free spin-off. Effective with the spin-off, Travelers Express Company, Inc. will operate under the new name MoneyGram International, Inc. (“MoneyGram”). In anticipation of the forthcoming spin-off, certain presentations have been prepared for meetings to be held with certain current and potential investors of both MoneyGram and the remaining Viad businesses (“New Viad”). Such meetings are to be held beginning on June 14, 2004. The Company is therefore making available copies of the presentations of New Viad and MoneyGram, which are attached hereto as Exhibits 99.1 and 99.2, respectively, and are incorporated by reference herein.

The information in this current report on Form 8-K is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this current report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	VIAD CORP
	(Registrant)
June 14, 2004	By /s/ G. Michael Latta
	G. Michael Latta
	Vice President — Controller
	(Chief Accounting Officer
	and Authorized Officer)

Page 2

EX-99.1

Exhibit 99.1

June 2004 Investor Presentation Spin-off of MoneyGram International, Inc.

Forward-Looking Statements As provided by the safe harbor provision under the "Private Securities Litigation Reform Act of 1995" Viad cautions that, in addition to historical information contained herein, this presentation includes certain information, assumptions and discussions that may constitute forward-looking statements. These forward-looking statements are not historical facts, but reflect current estimates, projections, or expectations or trends concerning future growth, operating cash flows, availability of short-term borrowings, consumer demand, new business, investment policies, productivity improvements, ongoing cost reduction efforts, efficiency, competitiveness, tax rates, restructuring plans (including timing and realization of cost savings), investment yield impairment, and market risk. Actual results could differ materially from those projected in the forward-looking statements. Viad's businesses can be affected by a host of risks and uncertainties. Among other things, gains and losses of customers, consumer demand patterns, labor relations, purchasing decisions related to customer demand for convention and event services, existing and new competition, industry alliances, consolidation, and growth patterns within the industries in which Viad competes and any further deterioration in the economy may individually or in combination impact future results. In addition to factors mentioned elsewhere, economic, competitive, governmental, technological, capital marketplace and other factors, including further terrorist activities or war, could affect the forward-looking statements.

Agenda Opening Remarks Robert Bohannon Chairman, President and Chief Executive Officer Operating Companies Paul Dykstra, President and CEO Overview GES Exposition Services, Inc. Kimbra Fracalossi, President and CEO Exhibitgroup/Giltspur Robert Bohannon Travel and Recreation Segment Financial Review Ellen Ingersoll Chief Financial Officer Closing Comments Robert Bohannon Q&A All

Post-Spin Viad Company Structure Viad Corp GES Exposition Services, Inc. Exhibitgroup/giltspur Travel & recreation glacier park, inc. Brewster Transport Company limited 2003 revenue of $770.5 million Company Structure GES Exhibitgroup Travel & Recreation Revenue 498.714 218.551 53.203

Leading Market Positions Positioned well in major trade show markets Integrated suite of offerings for convention & event customers Strong, Long-term Customer Relationships Multi-year contracts High renewal rate Customer Diversity Technology Leadership Relative Financial Strength Improving operating margin trend Positive cash flows from operations even in market downturn Investment Highlights High levels of recurring revenue

Strategic Focus Disciplined Growth Leverage leadership positions and enhance service offerings to fuel growth Increase efficiencies and capacity utilization Strategic acquisitions within our industries and adjacent industries Selective investments in new projects / technology Enhance margins and cash flow Maintain a strong balance sheet Create value for our shareholders

Paul Dykstra President & CEO

Leader in Convention & Event Services Program Management Supervision Graphics Installing & Dismantling Exhibits Storage Refurbishing Logistics Upgraded Carpets & Furnishings Signage Show Planning & Production Look & Feel Design Layout & Floor Plan Designs Decorating, Furniture & Carpet Signage Trade Show Organizers Elective Services GES is a recognized leader in providing exhibit and event services. Our services include: Note: Exclusive services vary by show Exhibitors Material Handling (Drayage) Exhibit Rental Electrical Cleaning Plumbing & Lighting Overhead Rigging Exclusive Services

Sizable Market with Steady Long-Term Growth Source: CEIR, Tradeshow Week Trade shows grew steadily from 1972-2000 Trade Show Market ~ $16 Billion NSF = Net Square Footage Advertising/Promotion $0.7B

Leading Market Share Over a third of the Top 200 shows in the U.S. 5 of the Top 10 trade shows is the U.S. in 2003; 7 of Top 10 in 2002 Source: 2003 Tradeshow Week 200 indoor shows 2002 Top 10

Producing World Class Shows Recent successes include an exciting, high-profile corporate event that we partnered with Exhibitgroup to produce Entire 152 acre Ford HQ Campus Larger than Disneyland Over 225,000 Visitors To view a video clip from this show as well as time-lapse clips of set up and tear-down for other shows, please visit the GES website: www.gesexpo.com

GES Strengths Strong, long-term customer relationships and high contract renewal rate Solid and dependable cash flow with improving margins Strong, diverse and experienced management team Leading position in growing Las Vegas market Las Vegas hosted approximately 27% of the 200 largest trade shows (based on net square footage) during 2003 GES has a strong business with a talented and diverse team driving profitable growth

Highly Focused Growth Growth focused acquisitions high growth geographies leverage new technologies lines of business outside trade shows incremental trade show & exhibitor revenue innovation business model products services systems processes it competition gscs venues Customers tradeshow & exhibitors Profitability city show lob Our People a,b,c players reward performance diversity City Show LOB A,B,C Players Reward Performance Diversity Innovation Competition Systems Growth Business Model Products Services GSCs Venues Processes IT Focused acquisitions High growth geographies Leverage new technologies Lines of business outside trade shows Incremental trade show & exhibitor revenue 2000 2007 2004

GES Revenue & Operating Income Operating Margin

.. Exhibitgroup/Giltspur Kimbra A. Fracalossi President & CEO

Exhibitgroup Overview Industry leader Largest/broadest network of resources and talent State-of-the-art technology Purchasing power International resources Expert in the following areas: Design Fabrication Graphic Design and Production Program Management Installation & Dismantle Logistics Management International Operations E-service Technology

Exhibitgroup Strengths E/G's competitive advantages include: Fortune 1000 client base Design, production and sales talent and network Wholly-owned installation and dismantling division, ExpoServices Global client services via ownership/alliances Patented exhibit technology and processes Full service provider Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Reduced fixed cost structure Pictured is E/G's booth at the 2003 Exhibitor Show, which won Best of Show E/G has won over 50 design awards in the past 5 years, including 13 prestigious 'Best of Show' awards

After a sharp decline from its peak in 2000, the market appears to be stabilizing 1997 98 99 00 01 02 03E 04F 05F 06F TSEA / EDPA 1.9 2 2.1 2.6 2.3 1.5 1.4 2.1 2.56 3.03 Billions of Dollars Sources: TSEA Budget Reports, EDPA Reports, Exhibit Builder Survey 1992-02, L.E.K. Analysis Stabilizing Market North American Exhibit Production and Design Market (1997-03E)

EG increased share during the decline as competitors fell and E/G retained clients 1999 2000 2001 2002 2003E 2004F 15.7 15.29 13.44 15.06 15.06 15.06 - - - - 0.44 0.69 North American Market Share (1999-04F) Market Share Sources: TSEA Budget Reports, EDPA Reports, Exhibit Builder Survey 1992-02, EG Management Accounts, L.E.K. Analysis With 15% market share, E/G holds the leading competitive position in this highly fragmented market Leading Market Share

($ in Millions) 2000 2001 2002 2003 Revenue 426.4 346.394 252.376 218.6 E/G Revenue & Operating Income 2000 2001 2002 2003 Revenue 30.679 3.324 -2.597 1.07 Operating Margins 7.2% 1.0% (1.0%) 0.5%

Prior Position Decentralized Operations -15 mfg locations (N.A.) - 15 processes - 7 IT systems - finance/purchasing Decentralized Sales Growth through Acquisitions Low Capacity Utilization High Cost Structure New Direction Centralized Operations - 4 mfg locations - standardized process - one system - national contracts New Sales Organization Organic Growth Optimal Facility Utilization Flexible/Lower Cost Structure Well-Positioned for Market Recovery

Near-term opportunities Focus on core capabilities Segment customer targeting Focus on national marketing initiatives (i.e., leasing) Increase capacity utilization Improve manufacturing and service delivery efficiency Longer-term opportunities Domestic and international growth Strategic partnerships DRIVE SHAREHOLDER VALUE E/G Strategy

VIAD Brewster sharing the best of canada glacier park inc. Travel and Recreation Segment Travel and Recreation Segment One-of-a-kind Destinations Banff Alberta, Canada Glacier National Park Montana, USA

Brewster Gondola Columbia Icefield Passengers Revenue(1) Passengers Revenue(1) 2003 363,066 $10,764 414,098 $9,597 2000 586,830 $15,597 604,814 $12,610 Results from Brewster's 2 high-throughput attractions have been depressed in recent years due to reduced travel as the result of 9/11, SARS, a weak economy, the war in Iraq, and airline bankruptcies. Improving travel trends should yield nice up-side Brewster is a major tourism service operator in Western Canada, offering lodging, package tours, charters, and two world-class attractions (1) Canadian dollars.

Glacier Park, Inc. Glacier Park, Inc. Glacier Park, Inc. Glacier Park, Inc. Glacier Park, Inc. Glacier Park, Inc. provides lodging, food and beverage services, and guided tours in and around the Waterton-Glacier International Peace Park Prince of Wales Hotel Prince of Wales Hotel Seasonal business with short operating season, generally from mid-May to late September During short season, the Park typically hosts over 2 million visitors With the exception of 2 of the lodges, all operations provided by Glacier are covered by a concessionaire contract with the US National Park Service Contract expires in December 2005; if not renewed we would receive value of our possessory interest

2000 2001 2002 2003 72.508 61.453 58.253 53.203 Travel and Recreation Revenue & Operating Income ($ in Millions) 2000 2001 2002 2003 19.123 14.698 14.2 9.975 Operating Margins 26.4% 23.9% 24.5% 18.7% Recent results impacted by: 9/11 SARS Airline bankruptcies Forest Fires Iraq War

Viad Corp Financial Summary Ellen Ingersoll, CFO

Pro Forma Balance Sheet ($ in Millions) March 31, 2004 Cash & ST Investments $79.0 Debt $23.7 Total Equity $381.8 Debt/Capital 5.8% Revolving Credit Facility $100 (1) May be increased to $150 million under certain circumstances. (1)

Financial Strength In January 2002, Viad adopted SFAS No. 142. When adjusting 2001 amounts to conform to SFAS No. 142, operating income was $57.7 million with an operating margin of 6.1%. Includes restructuring charges (recoveries) and other items of $5.0 million income ($3.0 million after tax or $0.03 per diluted share) in 2003, $18.5 million expense ($12.1 million after tax or $0.14 per diluted share) in 2002, and $90.7 million expense ($55.3 million after-tax or $0.64 per diluted share) in 2001. Viad defines EBITDA as income before interest expense, income taxes, depreciation and amortization, and changes in accounting principles. A reconciliation of EBITDA to Net Income is provided in the Appendix. ($ in Millions) 2001 2002 2003 Revenue $945.5 $844.5 $770.5 Segment Operating Income(1) $49.0 $54.4 $51.2 Segment Operating Margins(1) 5.2% 6.4% 6.6% Income (loss) per diluted share before change in accounting principle(2) ($0.47) $0.10 $0.24 EBITDA(2), (3) ($18.0) $47.1 $63.9

Earnings Potential 2000 2001 2002 2003 GES 605.715 537.65 533.857 498.714 Exhibitgroup 426.4 346.394 252.376 218.551 Travel & Recreation 72.508 61.453 58.253 53.203 2000 2001 2002 2003 GES 49.916 31.007 42.756 40.171 Exhibitgroup 30.679 3.324 0 1.07 Brewster 19.123 14.698 14.243 9.975 ($ in Millions) 9.0% Margin 5.2% Margin 6.4% Margin 6.6% Margin $1,105 $770 $99.7 $51.2 $945 $844 $49.0 $54.4

Leading Market Positions Positioned well in major trade show markets Integrated suite of offerings for convention & event customers Strong, Long-term Customer Relationships Multi-year contracts High renewal rate Customer Diversity Technology Leadership Relative Financial Strength Improving operating margin trend Positive cash flows from operations even in market downturn Investment Highlights High levels of recurring revenue

Questions & Answers

Supplemental Financial Information Summary Income Statement EBITDA Reconciliation to Net Income Capital Expenditures and Depreciation & Amortization Appendix

Post-Spin Viad Summary Income Statement1 (1) P&L information taken from audited New Viad financial statements as provided in the registration statement on Form 10 filed by MoneyGram International, Inc. ($ in Thousands) 2001 2002 2003 Total revenues $945,497 $844,486 $770,468 Costs services & products sold 896,468 790,084 719,252 Segment operating income 49,029 54,402 51,216 Segment operating margin 5.2% 6.4% 6.6% Corporate activities & minority interest 14,306 14,614 15,300 Interest expense (recoveries) 5,607 4,056 (1,080) Interest income (529) (1,004) (441) Restructuring and other charges (recoveries) 90,697 18,502 (5,015) Restructuring and other charges (recoveries) Income (loss) before taxes and change in accounting principle (61,052) 18,234 42,452 Income tax expense (benefit) (20,449) 9,839 21,361 Income tax expense (benefit) Income (loss) before change in accounting (40,603) 8,395 21,091 Change in accounting principle - (37,739) - Net income (loss) $(40,603) $(29,344) $21,091

Post-Spin Viad EBITDA Reconciliation ($ in Thousands) 2001 2002 2003 EBITDA (1) $(18,029) $47,083 $63,873 Interest (recoveries) expense (5,607) (4,056) 1,080 Income tax expense (benefit) 20,449 (9,839) (21,361) Depreciation & amortization (37,416) (24,793) (22,501) Change in accounting principle - (37,739) - Net Income $(40,603) $(29,344) $21,091 Included in EBITDA: Restructuring and other charges (recoveries) $90,697 $18,502 $(5,015) Viad defines EBITDA as income before interest expense, income taxes, depreciation and amortization, and changes in accounting principles. EBITDA is a measure of Viad's ability to service debt, fund capital expenditures and finance growth, and should be considered in addition to, but not as a substitute for, other measures of financial performance reported in accordance with GAAP. This information is supplemental to results presented under GAAP and may not be comparable to similarly titled measures presented by other companies.

2000 2001 2002 2003 Fcst 2004 Plan Post-Spin Viad Capex and D&A ($ in Millions) 2001 2002 2003 Depreciation & Amortization 37.4 24.8 22.5 Capital Expenditures 17.558 13.385 15.535 In January 2002, Viad Corp adopted SFAS No. 142, which eliminates the amortization of goodwill and other intangibles. When adjusting 2001 to conform with SFAS No. 142, depreciation and amortization was $28.8 million. (1)

EX-99.2

Exhibit 99.2

"We provide consumers with affordable, reliable and convenient payment solutions." June 2004

Forward Looking Statements As provided by the safe harbor provision under the "Private Securities Litigation Reform Act of 1995" MoneyGram International cautions that, in addition to historical information contained herein, this presentation includes certain information, assumptions and discussions that may constitute forward-looking statements. These forward-looking statements are not historical facts, but reflect current estimates, projections, or expectations or trends concerning future growth, availability of borrowings, consumer demand, new business, product development, investment policies, productivity improvements, ongoing cost reduction efforts, efficiency, competitiveness, tax rates, investment yield impairment, and market risk. Actual results could differ materially from those projected in the forward-looking statements. MoneyGram International's businesses can be affected by a host of risks and uncertainties including, among other things, gains and losses of customers, consumer demand patterns, existing and new competition, industry alliances, consolidation, and growth patterns within the industries in which MoneyGram competes. In addition to factors mentioned elsewhere, economic, competitive, governmental, technological, capital marketplace and other factors, including further terrorist activities or war, could affect the forward-looking statements.

Transaction Overview NYSE: MGI SEC Registration: Form 10 Reverse Spin Distribution ratio: 1:1 Expected shares out: 87.2 million Record Date: [TBD] Distribution Date: [TBD] Q204 results and 2004 Guidance: July 29, 2004 MGI historical quarterly financial statements: Q3 2004

Transaction Benefits Affords direct access to capital markets Establishes independent equity currency for acquisitions Provides greater strategic focus Creates pure play payments leader Enhances ability to attract, retain and motivate employees

Management Experience Phil Milne, President and CEO 13 22 Dave Parrin, CFO 2 27 Teri Johnson, General Counsel 6 25 Bill Putney, CIO 10 18 Tony Ryan, GM, Global Funds Transfer 8 18 Mary Dutra, GM, Payment Services 15 33 Dave Albright, CTO 4 28 Cindy Stemper, HR 20 25 No. Years MGI Employee No. Years Total Experience

MoneyGram International, Inc. Our Purpose: To help people and businesses by providing affordable, reliable, and convenient payment services MoneyGram International Value Proposition Our Corporate Values: Respect, Courage, Passion, Integrity, Teamwork

Growth Strategy Providing our worldwide consumers and business partners with a superior value proposition to drive revenue and market share Delivering a superior, reliable, low cost service platform to our business partners and consumers to enhance their profitability and economic benefit Expanding our distribution channels and creating new delivery methods to increase volume and revenue Delivering new payment products and related financial services to complement our product suite Pursuing alliances and acquisitions that complement strategic goals

Rebate, Gift Cert., Other PrimeLink Suite Financial Money Orders Products Money Transfer Retail Money Orders Urgent Bill Payment Global Funds Transfer Payment Services We Operate Two Business Segments

Our Products Meet the Needs of our Customers Distribution Channel Primary Customer Revenue Sources Money Transfer Urgent Bill Payment Money Orders Official Checks

MGI Market Share MGI Remaining Western Union 4.1 119.8 16.8 MGI FDC Post Office Others 325 250 236 50 Money Order2 1IMF Balance of Payments Yearbook 2Based on MGI Estimates MGI FDC Other In-House 0.16 0.3 0.04 0.5 Official Check2 Money Transfer1 (Based on $ transferred) (Based on transaction volume) (Based on $ volume)

NY Check Cashers New Relationships Long Term Relationships Diverse Client Base Focused on Value Proposition

Money Transfer Tremendous International Flow of Money An estimated $140 billion transferred annually around the globe Over $6 billion annual revenue in global money transfer market Projected to grow 7 percent annually Favorable Population Trends Over 175 million migrant workers and immigrants living outside their country of origin 35 million living in the U.S. An estimated 28 percent of U.S. adults are unbanked or underbanked Over 1 million households are formed in the U.S. each year Industry Overview We operate in a large market with compelling growth opportunities

Money Order Seasoned market with very favorable economics Primary payment mechanism for unbanked and underbanked Financial Institution Outsourcing (Official Check) One of two providers in the market FIs continue to outsource Industry Overview

One of two global money transfer providers 160 countries Expanding global distribution network World-class partners Focus on growth in quality agent locations, 68,000 worldwide Co-branding strategy leverages two powerful brands Most flexible technology solution Investing in the business Focus on marketing, sales, product development, and information technology across all global markets Money Transfer is Driving Growth

Growth in agent locations Maximize financial institution relationships Relentless focus on cost structure Value pricing strategy Money Transfer is Positioned for Further Growth 12/1/1998 12/1/1999 12/1/2000 12/1/2001 12/1/2002 Dec-03 Total 26.7 32 38.5 50.3 57.1 61.5 (in thousands)

Strong position in seasoned market Attractive economics Use of paper-based payment instruments is declining Well positioned to capture market share through new agents and strategic opportunities Focused on maximizing cash flow and profitability 63,500 agents and financial institutions Money Orders We are maximizing the value of this business

Float Portfolio ($ in millions) Superior technology platform and outsourcing solutions Serving over 15,000 financial institution branch locations Meaningful cross selling opportunities Official Check Delivering low cost services to financial institutions

New Products New Products Launched Internet MoneyGram e-Money Transfers Yahoo!/MoneyGram New Products in Development PrePaid Debit / Stored Value Cards Electronic payment products Delivering new payment products and financial services

Leveraging our Service Platform Providing innovative technology at the Point-of-Sale for our agents DeltaWorks 4.2 Form-Free Delta T3 Terminal Agent Connect We improve agent productivity with our low cost platform

Pursuing Strategic Alliances and Acquisitions Alliances Financial Institutions Money Transfer Yahoo! Acquisitions Network extension Product extension

Financial Review

1998 1999 2000 2001 2002 Jun 2003 YTD 0 0 0 0 372.7 392.7 431.2 581.9 672.1 760.7 401 Segment Financial Performance *To be provided after Spin-off $ millions Year End 1Q 2004 2003 2002 2001 Revenue Global Funds Transfer $121.0 $450.1 * * Payment Systems 70.3 287.1 * * Segment Total $191.3 $737.2 $707.7 $635.6 Operating Income before restructuring recoveries (charges) and other items: Global Funds Transfer $21.0 $96.8 * * Payment Systems 9.2 15.1 * * $30.2 $111.9 $121.3 $115.6 Operating Margin Global Funds Transfer 17% 22% * * Payment Systems 13% 5% * * Segment Total 16% 15% 17% 18% Segment Total

1998 1999 2000 2001 2002 Jun 2003 YTD 0 0 0 0 372.7 392.7 431.2 581.9 672.1 760.7 401 Financial Performance $ millions Depreciation, Amortization & Capital Expenditure

Pro forma Capitalization PROPRIETARY INFORMATION FURNISHED ON A CONFIDENTIAL BASIS AND IS NOT TO BE DISCLOSED TO ANY PERSON OR ENTITY WITHOUT THE EXPRESS WRITTEN CONSENT OF VIAD CORP. $ millions

Capital Deployment Deploying capital to drive growth and incremental shareholder value Technology enhancements Acquisitions Debt repayment

Investment Highlights Clear strategies for growth Strong, growing and defensible market positions Favorable end-market dynamics Leader in payment services solutions and platforms Significant operating leverage Long-term contracts Attractive financial profile: cash flow, margins, minimal debt, diverse and recurring revenues