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CHECK EXPRESS ACQUIRES STORES

 TAMPA, Fla., Nov. 4 /PRNewswire/ -- Check Express, Inc. (NASDAQ: CHXS) announced today that it has reached an agreement in principle to acquire two stores in West Palm Beach, Fla., from entities controlled by Stephen L. Selka.
 Check Express intends to purchase the stores with a combination of cash and stock in a transaction valued at between $500,000 and $600,000.
 Consummation of the transaction, expected to be completed by Dec. 1, is subject to certain conditions, including the negotiation and execution of a definitive acquisition agreement and due diligence matters.
 In a separate transaction, the company is purchasing a store in Atlanta, with a combination of cash and notes totaling $190,000. Closing is set for Nov. 5, effective as of Nov. 1.
 The stores are currently being operated under franchise agreements with Check-X-Change, the nation's largest franchisor of retail check cashing locations with 92 centers in 17 states. Check-X-Change was acquired by Check Express in a stock transaction in October of this year and is a wholly owned subsidiary of Check Express.
 Check Express, through its wholly owned subsidiaries, currently operates 21 company owned and 137 franchised retail money centers in 22 states.
 -0- 11/4/93
 /CONTACT: Larry Lang, CEO, Check Express, 813-289-2888/
 (CHXS)


CO: Check Express, Inc. ST: Florida IN: REA SU: TNM

BR-BN -- AT012 -- 0834 11/04/93 14:53 EST
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Publication:PR Newswire
Date:Nov 4, 1993
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