CUC INTERNATIONAL INC. PURCHASES CREDIT CARD SENTINEL LIMITED.STAMFORD, Conn.--(BUSINESS WIRE)--March 30, 1995--CUC International Inc. (NYSE NYSE See: New York Stock Exchange : CU) announced today that it has acquired all of the outstanding capital stock of Credit Card Sentinel Limited, a UK-based company engaged in the credit card registration and loss and theft notification business. The acquisition was made by a European based CUC CUC Cuban Convertible Peso (ISO currency code) CUC Columbia Union College (Takoma Park, MD, USA) CUC Canadian Unitarian Council CUC Canadian Ultimate Championships subsidiary for approximately $22 million U.S. dollars, which was paid in cash. Walter A. Forbes, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CUC, commented, "Earlier this month, we announced that we had purchased CUC Europe from our European licensee. Now, with the purchase of Credit Card Sentinel, we will be able to expand our service offerings internationally to include credit card protection. Credit Card Sentinel is an eleven year old company that has successfully provided credit card registration in both the U.K. and Sweden. Combining their knowledge of the business and their prestigious list of clients that includes Barclay's Bank, National Westminster Bank PLC and Halifax Building Society in Europe with our own experience and expertise in the credit card registration business here in the U.S., should solidify our European presence and help us penetrate the consumer and financial institution marketplace at a much greater speed." CUC International CUC (Comp-U-Card) International Inc., a huge membership-based consumer services conglomerate with travel, shopping, auto, dining, home improvement and financial services offered to more than 60 million customers worldwide based out of Stamford, Connecticut and headed by Kirk is a leading membership services company, currently providing more than 33 million consumers with access to a variety of services including home shopping Home Shopping commonly refers to the electronic retailing / home shopping channels industry, which includes such billion dollar companies as HSN, QVC, eBay, ShopNBC, Buy.com, and Amazon.com. , travel, insurance, auto, dining, home improvement, checking account enhancements, and discount coupon programs. CUC International is a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Stock Exchange-listed company whose divisions and subsidiaries include Benefit Consultants, Inc., Comp-U-Card, CUC Europe Limited, Entertainment Publications, Inc., Essex Corporation, FISI-Madison Financial Corporation, Interval International Interval International is an affiliated exchange company that arranges vacation exchanges for timeshare owners. Their exchange network includes more than 2,200 resorts and nearly 2 million member families worldwide. Similar to RCI, Interval International, I.I. , Inc., National Card Control, Inc., The NetMarket Company and Welcome Wagon International, Inc. CONTACT: CUC International Inc. Sandra Morgan, 203/965-5114 |
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