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Xoom Expands Its Money Transfer Services to South America

New partnership with Latin Express allows Xoom customers to send money to six additional countries

SAN FRANCISCO, Calif. - October 12, 2004 - Xoom Corporation announced that it has expanded its money transfer service to six South American countries. Xoom will now be offering money transfer services to Brazil, Argentina, Chile, Paraguay, Uruguay, and Bolivia, via local disbursement partner Latin Express. Customers in Argentina will have the option of direct deposit or cash pick up at any Latin Express location. Recipients in Brazil will be able to have money deposited directly into their bank accounts, while those in Chile, Paraguay, Uruguay and Bolivia will be able to pick up cash in US dollars at Latin Express locations.

Entrance into the South American market is critical to Xoom's goal of providing reliable, inexpensive money transfer services to overseas workers worldwide. Kevin Hartz, Xoom's CEO, said, "For overseas workers, sending money home is crucial to their family back home. We are excited to provide South Americans with a quality alternative to current money transfer solutions."

About Xoom

Xoom's money transfer service allows individuals to send money from any Internet-enabled computer to friends, family and businesses in eight countries worldwide. Senders can use PayPal, major credit cards, or have funds withdrawn directly from their bank account to fund the money transfer. Recipients receive cash in local currency or US dollars. Xoom also offers money transfer services to India, the Philippines, the Dominican Republic, Jamaica, Hong Kong, Sri Lanka, Bangladesh, and Nepal.

About Latin Express

The objective of Latin Express is to provide a safe, reliable and affordable service in the money transfer market, within and from Argentina, to the most important cities in the world. Latin Express' competitive advantage is based on our high performance operations, and centered on a reception, classification and distribution process that guarantees the delivery, timing and method of your money transfer. Latin Express strives for excellence in the services offered to our clients.