News

Greenland Corporation to provide check cashing machines for Union Bank of California

March 4, 2002

OCEANSIDE, Calif. -- Greenland Corporation (OTC Bulletin Board: GLCP) signed an agreement with the Cash and Save Division of Union Bank of California to provide a limited number of Greenland's automated check cashing ATM machines and processing services for these machines.

According to Yolanda Brown, Union Bank of California vice president and manager of the Cash and Save Division, the bank recently acquired a 40 percent equity position in a privately-held company that operates 47 check cashing offices throughout Southern California.

"We believe there is a need to bring convenient banking services such as check cashing, traditional and non-traditional banking services including money orders, money transfer, telephone debit cards and loans back to the community. Our Agreement with Greenland will allow us to expand our services in this arena," Brown said.

Lou Montulli, CEO of Greenland Corporation said, "We hope this is just one of many agreements with a financial institution that is progressive in recognizing the opportunities that the Greenland machine presents."

Union Bank of California is a wholly owned subsidiary of UnionBanCal (NYSE: UB), a bank holding company with assets of $33.7 billion.