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Metrobank Introduces Online Money Transfer Service via Internet with Xoom

SAN FRANCISCO, CA, October 29, 2007 - Metropolitan Bank&Trust Co. (Metrobank) recently forged a partnership with Xoom Corporation, the fastest growing online money transfer company, to enable overseas Filipinos to remit money to their beneficiaries' Metrobank accounts using the Internet.

Xoom.com and Metrobank have tied up to provide faster bank deposits to the Philippines. With a click of a button, Xoom.com customers can deposit money to a Metrobank account, and the money will be available to the recipient in just hours. By simply logging on to www.xoom.com, money can be sent to beneficiaries in the Philippines who are existing Metrobank depositors. Remittances can be funded using a bank account, credit or debit card, or PayPal.

"We are always looking at how we can extend our services to our overseas Filipino workers. This partnership will benefit Filipinos, particularly in the United States, Europe, Middle East, Singapore and Japan, who can easily remit money to their beneficiaries for as long as they have a Metrobank deposit account. It is a fast, reliable, and affordable way to remit money home," said Carmelita R. Araneta, Metrobank Executive Vice President.

"Serving Filipino remitters is important to Xoom. Our partnership with Metrobank will enable us to provide much faster deposits to Metrobank accounts and greater convenience to both senders and receivers," said John Kunze, President and CEO of Xoom.

"It is important that our disbursement partners are trusted brands. We are excited to partner with Metrobank to provide our fellow Filipinos with a hassle-free and easy money transfer service," said Gene Gutierrez, Xoom Regional Vice President, Philippines.

Sending money through Xoom.com to a Metrobank account is very simple. Just go to Xoom’s secure website at www.xoom.com, enter sender information, recipient information including Metrobank account details, and the amount you wish to send.

Metrobank is the Philippines' largest bank, with consolidated assets of P669.3-billion as of June 2007. It is the flagship company of the Metrobank Group, providing a full range of banking services to retail and corporate clients. Metrobank has a network of over 800 domestic and international branches, offices, and subsidiaries operating in 21 countries.

Xoom Corporation was founded in 2001 in San Francisco, and is backed by leading venture firms Sequoia Capital, New Enterprise Associates, and Fidelity Ventures. For more information about Xoom.com money transfer service to the Philippines, visit http://www.xoom.com/Philippines.