Zero Cost Program For Remittances From The USA To Mexico.

No Borders, Inc., a Nevada Corporation, announced its second agreement to commence a program pursuant to which U.S. immigrants sending money back home, in this case Mexico, through the No Borders Stored Value Card Platform will not be charged a fee for one remittance transaction per month of up to $350, if the recipient of those funds opens an account and joins one of the member co-operatives of the Asociacion Mexicana de Uniones de Credito del Sector Social, called “AMUCSS”. The agreement calls for AMUCSS to pay No Borders, after a three-month pilot period, the fees No Borders customarily charges its customer for each transaction. The agreement with AMUCSS follows a prior agreement with No Borders to open up payout sites at each of the Associations 12 credit union locations in rural and semi-rural areas of Mexico. Currently, AMUCSS’ credit unions have in excess of 10,000 members. For over 12 years the associated Credit Unions have provided their members with valuable financial services, including depository accounts and small business and personal loans. Located in the most inaccessible rural migrant sending regions of Southern Mexico, AMUCSS is an internationally renowned pioneer in financial services to markets traditionally ignored by established financial institutions. It is expected that this new and very unique collaboration will set a new standard for the rest of the Mexican credit union sector, which consists of approximated 1,500 credit unions with nearly 1 million members.

As a part of the agreement, No Borders has identified the principal locations throughout the U.S. that have the highest concentrations of those foreign born migrants from Mexico who send money back home to the areas in Mexico with AMUCSS’ credit union offices. These communities will be the first targeted for the new No Borders agent locations offering zero-cost remittances. According to Inter-American Development Bank, Latin American immigrants in the U.S. sent back home an estimated $ 38 Billion in 2003, and that growth for 2004, is expected to be over 20% when compared to the same period in 2003. The Banco de Mexico estimates that remittances to Mexico will reach $16 billion (U.S.), up over 20% from 2003.

No Borders is in the business of providing a debit and stored value card platform through which a variety of financial and commercial services and products can be offered to residents of developing countries and to immigrants from those countries who reside in the United States and send money back home on a regular basis. No Borders is implementing a core and unique strategy by offering significantly lower cost money transfers and long distance telephone services, initially focusing on Latin American transnational communities. This strategy is designed to facilitate an accelerated penetration into this vast market, and as its market share grows, to offer directly to its network of cardholders through its stored value card platform, increasing numbers of needed low cost financial and commercial products and services which are provided by qualified companies desirous of increasing their access to this ever growing new market.

Dr. Raul Hinojosa, a co-founder, President and Chairman of No Borders, is a Professor of International Political Economy at UCLA and a leading authority on the subject of the economic integration between the United States and Latin America. Dr. Hinojosa states, “This program, as with the program announced two days ago, illustrates the innovative models we will implement in our quest to lower costs of remittance transactions which thus results in real economic benefits to our customers and our alliance partners, while at the same time increasing our own profitability. The economic benefits that we believe will accrue to participants in our zero cost remittance programs should only pave the way for us to enter into similar agreements with the vast number of Credit Unions and Banks throughout the U.S. and Latin America desirous of increasing their deposit accounts and their customer/membership base. Once an individual or family from this market becomes a bank customer and/or credit union member, the experience of our alliance partner in Ecuador, Banco Solidario, illustrates that the customer will remain a loyal customer to the institution and will be more likely to purchase bank or credit union services or products, thus increasing the revenue of the bank and/or credit union. The zero cost remittance, as an illustration, means additional expendable funds by our customers who then can afford to pay for needed other services offered by participating Credit Unions and Banks, through the No Borders Stored Value Card Platform. As we have stressed, our remittance and telecom offerings represent only a fraction of U.S. Latino transnational household expenditures. We intend to do all we can to work with other entities to offer services and products to this growing market through our Platform, using creative business models for the benefit of our shareholders, our alliance partners and our targeted customers.”