Exhibit 99.1

   Viad Corp Announces Filing of Form 10 Registration Statement for
                Spin-Off of Payment Services Business;
          Business to be Named MoneyGram International, Inc.

    PHOENIX--(BUSINESS WIRE)--Dec. 29, 2003--Viad Corp (NYSE:VVI)
today announced that its subsidiary MoneyGram International, Inc. has
filed a preliminary registration statement on Form 10 with the
Securities and Exchange Commission relating to the proposed spin-off
of Viad's global payment services business. MoneyGram International,
Inc. will be the parent holding company of Travelers Express Company,
Inc., a leading provider of global payment services. Effective with
the spin-off, the businesses currently conducted by Travelers Express
will be operated under the new MoneyGram International, Inc. corporate
name. The transaction is not expected to be consummated earlier than
the end of the first quarter 2004. The spin-off is subject to a number
of conditions and no assurance can be given that any such transaction
will be consummated.
    The Form 10 can be found on the following websites:

    -- www.viad.com     (Viad Corp)

    -- www.temgweb.com  (Travelers Express)

    -- www.sec.gov      (The Securities and Exchange Commission)

    Viad and MoneyGram International welcome inquiries about the
intended spin-off transaction. Inquiries can be addressed to Patty
Phillips, Viad Corp Investor Relations 602-207-2681 or 602-207-1040,
or e-mail to pphillip@viad.com.

    Background

    On July 24, 2003, Viad Corp announced a plan to separate its
global payment services business from its other businesses by means of
a tax free spin-off transaction. To effect the separation, Travelers
Express, which currently conducts Viad Corp's global payment services
business will become a subsidiary of MoneyGram International, Inc., a
newly formed, wholly-owned subsidiary of Viad Corp, and Viad will
distribute all of the shares of MoneyGram common stock as a dividend
on Viad common stock. At the time of the spin-off, the operations of
MoneyGram International, Inc. will consist solely of the payment
services business. The continuing business of Viad Corp, will consist
solely of the businesses of the convention and event services, exhibit
design and construction, and travel and recreation services including
Viad Corp's centralized corporate function located in Phoenix,
Arizona.
    In connection with the completion of the spin-off, Viad will repay
its commercial paper, tender for its senior notes and subordinated
debt, retire certain other obligations, and redeem all outstanding
preferred stock.
    The transaction is subject to a number of conditions, including
among other things, receipt of a satisfactory tax ruling from the
Internal Revenue Service, confirmation that the long-term debt of
MoneyGram International 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 Directors of
Viad. Viad filed with the Internal Revenue Service for a ruling on
August 5, 2003.

    Presentation of Financial Information in the Form 10

    The following information may assist readers of the Form 10. The
Form 10 should be read in its entirety for a complete presentation of
the intended spin-off transaction including financial information,
risk factors, growth strategies, and other pertinent information.
    Despite the fact that MoneyGram International is being spun-off
from Viad Corp, generally accepted accounting principles require that
the transaction be presented as a "reverse spin-off." In this case,
MoneyGram International will be the divesting entity of the remaining
Viad businesses, making MoneyGram International, Inc. the "accounting
successor" to Viad Corp. Therefore, historical financial information
presented in the Form 10 for MoneyGram International represents
information previously filed with the Securities and Exchange
Commission for Viad. The Form 10 also includes pro forma financial
information, which reflects the historical financial statements
assuming the reverse spin-off occurred at the beginning of the periods
presented. Immediately following the spin-off, MoneyGram International
intends to file financial statements that present remaining Viad as
discontinued operations. Such presentation can be made only at the
time of the spin-off.
    Viad is a $1.6 billion revenue S&P MidCap 400 company. Major
businesses include Travelers Express Company, Inc. (to be a subsidiary
of MoneyGram International, Inc. effective with the spin-off) of
Minneapolis, GES Exposition Services of Las Vegas and
Exhibitgroup/Giltspur of Chicago. For more information, visit the
company's Web site 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 or trends concerning future business
developments and activities. Actual results could differ materially
from those projected in the forward-looking statements. Viad's
businesses, which include those that will be operated by MoneyGram
International, Inc., 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, or the
inability of Viad or its subsidiaries to satisfy any of the conditions
to the proposed transaction, could affect the forward-looking
statements in this press release.
    Viad Corp offers no assurance that the intended spin-off
transaction discussed in this press release will be consummated.
    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
             Investor Relations
             Patty Phillips, 602/207-2861 or 602/207-1040
             pphillip@viad.com