AirPlus International builds strategic partnership in Korea

Customers to benefit from new cooperation with Korea Exchange Bank

Alexandria, VA (5 December 2007) AirPlus International, a leading global provider of business travel payment solutions, has entered into a strategic partnership with Korea Exchange Bank (KEB). Together with KEB, one of Korea’s leading financial institutions, AirPlus will now offer corporate customers in Korea the AirPlus Corporate Card.

With the introduction of partnership with the AirPlus Corporate Card and KEB, the AirPlus Company Account clients in Korea are now provided with a fully integrated travel payment offer. AirPlus already provides both credit and settlement facilities, as well as superior data management, to its Korean clients; and the new corporate card completes the full T&E offer. Corporations receive a complete payment and cost analysis solution for corporate travel, enabling thorough analysis of travel expenses while benefiting from unique cost transparency.

“We are extremely pleased about our new partnership with KEB, as it is important to our continued growth in Asia and will critically move us toward our goal of becoming the preferred global provider for integrated payment and analysis solutions by 2012,” said Richard Crum, AirPlus International President.

Within the framework of the collaboration, joint customers will also gain access to a powerful management information system, the AirPlus Information Manager. This tool enables the complete analysis of all travel spend. With the information gained, companies will recognize cost cutting opportunities and have the optimal basis for negotiations with airlines, hotels, car rental companies and other travel service providers.

“Mutual cooperation between KEB as a provider of utmost corporate card services and AirPlus as a leading provider of global business travel payment solutions is a wonderful opportunity to take a step forward through synergy.” said Kevin W. Kneebone, Managing Director of the Credit Card Division of KEB.