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XOOM.COM AND GLOBE TELECOM’S GCASH REMIT ANNOUNCE PARTNERSHIP

TO PROVIDE MOST CONVENIENT CASH PICKUP NETWORK IN THE PHILIPPINES

SAN FRANCISCO, CA, Aug. 7, 2009 – Xoom.com and GCASH REMIT, the money remittance product of G-Xchange, Inc., today announced a partnership to provide the most convenient cash pickup network in the Philippines. G-Xchange, Inc. (GXI) is the wholly-owned mobile commerce subsidiary of Globe Telecom.

The additional GCASH REMIT outlets expand the number of Xoom.com locations in the Philippines. Picking up cash is now just a few steps away, eliminating cash pickup hassles for loved ones. By adding GCASH REMIT outlets in the most remote areas, Xoom.com significantly increases its network reach nationwide. GCASH REMIT outlets have longer business hours and are open daily so picking up money is very convenient for recipients. The partnership also enhances the Xoom.com online remittance technology by incorporating the GXI mobile commerce platform, M-Commerce.
 
“We work constantly to expand our money transfer services around the world,” said Xoom Corporation President John Kunze. “We believe that this strategic partnership with GCASH REMIT helps us achieve this goal by increasing our reach in the Philippines.”

Joining the growing number of Xoom.com cash pickup locations are the GCASH REMIT payout outlets. These outlets include: Globe Business Centers; Tambunting, Villarica, Galleon, and Prime Asia pawnshops; over 50 rural banks including PR Bank, Green Bank and Cantilan Bank; and money changers such as Czarina Foreign Exchange, and IFX Exchange.

“I am thrilled about this partnership as we are able to achieve tandem objectives. GCASH is able to expand its customer access worldwide as our customers can now send money online via Xoom.com with the same speed, affordability, convenience and security that our customers experience through the mobile phone or traditional over-the-counter channels. On the other hand, GCASH is also able to extensively expand Xoom.com pay-out locations in the Philippines to serve more customers,” said GXI President Rizza Maniego-Eala.

“We are very excited about this venture. Not only do we expand our cash pickup network, but we also bring more consumers into the new age of remittance technology and mobile commerce. The GCASH REMIT-Xoom.com partnership will pave the way for a better remittance experience for our customers,” said Xoom Corporation Regional Vice President, Gene Gutierrez.

Sending money to the Philippines with Xoom.com is easy. Consumers visit www.xoom.com, enter sender information, choose how the money will be received, enter the amount to be remitted, and click “send”. The money is available in the Philippines in just minutes. Xoom.com money transfer fees to the Philippines start at just $3.50. Consumers can send up to $2,999 for only $7.99 when paying with a US bank account.

About Xoom Corporation

Xoom.com enables individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures.

About Globe and GCASH Remit

G-Xchange, Inc. (GXI) is a wholly-owned subsidiary of Globe Telecom, one of the leading telecommunications companies in the Philippines. GXI pioneered the cardless and cashless mobile commerce service called GCASH. GCASH is a revolutionary service transforming the mobile phone into a wallet for financial transactions with the convenience and cost of a text message. Further innovating on the service, GXI successfully launched GCASH REMIT that services international remittance requirements through its M-Commerce platform and cash pick-up locations in the Philippines.