Duabi, Aug.22nd,2007 (WAM) -- Wall Street Exchange Company LLC,an international ubsidiary of Emirates Post, has announced a tie-upwith State Bank of India, India's largest bank, for quick money transferto any part of India through 5,800 branches, under the Speed Remittancefacility, 'SBI Express', under which the amount will be credited to beneficiaryaccounts within 24 hours/ the next working day.

The agreement brings together two major players in the remittances marketfor providing Draft & TT drawing arrangements and Direct Credit to accountsthrough 'SBI Express'.

'As many Indian expatriates hold accounts with State Bank of India, thetie-up will be of great benefit to people transferring money to India,'said Abdullah Bin Ghalib, General Manager of Wall Street Exchange.

'More importantly, SBI is a giant among Indian banks with a vastnetwork and proven expertise in serving every corner of India.' State Bank of India has been a pioneer, be it in the area of CorporateFinancing, SME Financing, Rural Banking, Retail Banking, InternationalBanking or NRI Banking. It is the only Indian bank to figure in the listof top 100 World Banks compiled by the Banker Magazine (UK) with a worldranking of 70. It has the largest network of branches and ATMs in everynook and corner of India. It also has the largest network of offices abroadamong Indian banks, with 84 offices in 33 countries, thus providing worldclass banking services across the globe.

State Bank of India has the largest base of expatriate deposits and marketshare in remittances among all the banks in India, including the privatesector and foreign banks. It is very popular among Indians and Indianexpatriates in the Gulf.

'The partnership with SBI adds a new dimension to Wall Street's strategyof becoming a leading player in the remittances market,' said Mr. BinGhaleb. 'Supported by the Emirates Post Group's vision, we are set toincrease our customer base manifold and we are in the process of finalizingseveral new partnerships.'Wall Street Exchange is on track to achieve its goal of expanding itsnetwork regionally and internationally by consolidating its presence inEurope, Asia and the Middle East. It aspires to be a leading global financialservices company delivering services of the highest standards to our customers.

Wall Street Exchange is one of UAE's biggest and oldest foreign exchangeand money transfer companies, operating since 1982. It has a global presencewith 6 branches in the United Kingdom, 8 in Hong Kong and 18 in the UAE.

Wall Street has correspondent relationships with 80 banks across the globe.