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


                                  July 30, 2003
                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        (Commission         (I.R.S. Employer
incorporation or organization)         file number)       Identification No.)


 1850 N. CENTRAL AVE., PHOENIX, ARIZONA              85077
(Address of principal executive offices)           (Zip Code)


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







Item 5. OTHER EVENTS

On July 29, 2003, Viad Corp issued a press release announcing that in addition
to repaying its existing public debt, it intends to repay all of its outstanding
commercial paper and redeem all outstanding $4.75 preferred stock concurrent
with the spin-off of the Travelers Express Company. The transaction is subject
to all of the conditions previously specified in its July 24th press release
announcing Viad's intention to spin-off the Travelers Express Company. A copy of
the Company's press release is attached hereto as Exhibit 99.1 and is
incorporated by reference herein.

Item 7. FINANCIAL STATEMENTS AND EXHIBITS

    (a) Not applicable.

    (b) Not applicable.

    (c) Exhibits

        99.1 - Press release dated July 29, 2003, issued by Viad Corp.

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)

July 30, 2003                                  By /s/ G. Michael Latta
                                                  -----------------------
                                                  G. Michael Latta
                                                  Vice President - Controller
                                                  (Chief Accounting Officer
                                                  and Authorized Officer)

EX-99

                                                                Exhibit 99.1


       Viad Corp to Tender for All Public Debt, Repay Commercial
              Paper and Redeem Preferred Stock Concurrent
                 with a Spin-Off of Travelers Express

    PHOENIX--(BUSINESS WIRE)--July 29, 2003--On July 24, 2003 Viad
Corp (NYSE:VVI) announced that its board of directors has authorized
management to pursue a separation of the company's Payment Services
business, Travelers Express Company, Inc., from the remaining Viad
businesses by means of a tax-free spin-off. The transaction is subject
to a number of conditions, including those specified in the press
release of July 24th.
    As previously announced, the company affirms that it intends to
tender for its existing public debt concurrent with a spin-off of
Travelers Express. Today, Viad Corp also announces its intention to
repay all of its outstanding commercial paper and redeem all
outstanding $4.75 preferred stock concurrent with a spin-off of
Travelers Express.
    The spin-off transaction is not expected to be consummated earlier
than the first quarter of 2004, and no assurances can be given that
any such transaction will be consummated.
    Viad is a $1.6 billion revenue S&P MidCap 400 company. Major
subsidiaries and divisions include Travelers Express/MoneyGram of
Minneapolis, GES Exposition Services of Las Vegas and
Exhbitgroup/Giltspur of Chicago. For more information, visit the
company's website at www.viad.com.

    Forward Looking Statements

    As provided by the safe harbor provision under the "Private
Securities Litigation Reform Act of 1995" Viad cautions readers that,
in addition to historical information contained herein, this press
release 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 concerning a contemplated transaction.
Viad's businesses and the ability to effect any such transaction can
be affected by a host of risks and uncertainties. Consummation of the
spin-off transaction is conditioned on, among other things, receipt of
a satisfactory tax ruling from the Internal Revenue Service,
confirmation that the long-term debt of Travelers Express would have
an investment grade rating, availability of satisfactory banking and
credit arrangements for each of the businesses, and final approval of
the board of Viad. 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, interest rates
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 and the ability to effect a
transaction. 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 in this press release.
    Information about Viad Corp obtained from sources other than the
company may be out-of-date or incorrect. Please rely only on company
press releases, SEC filings and other information provided by the
company.


    CONTACT: Viad Corp, Phoenix
             Patricia D. Phillips
             602-207-1040 (Investor Relations)
             pphillip@viad.com