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FIRST USA PRICES $350 MILLION SECURITIZATION OF CREDIT CARD RECEIVABLES

FIRST USA PRICES $350 MILLION SECURITIZATION OF CREDIT CARD RECEIVABLES
 DALLAS, Sept. 18 /PRNewswire/ -- First USA, Inc. (NYSE: FUS) announced that it has priced a $350 million securitization of credit card receivables in connection with the First USA Credit Card Master Trust.
 The securitization will include $308 million of 5.20 percent Class A Asset Backed Certificates, Series 1992-1, with a 3.5 year term, and $42 million of 5.80 percent subordinated Class B Asset backed certificates, Series 1992-1, with a 4.1 year term.
 The Class A asset backed certificates are expected to be rated AAA by Standard & Poor's and Aaa by Moody's. The Class B asset backed certificates are expected to be rated A+ by Standard & Poor's and A-1 by Moody's. Under the trust structure, a cash collateral account will provide credit enhancement for the benefit of Class B asset backed certificateholders.
 First USA Bank, the principal operating subsidiary of First USA, Inc., owns and services the receivables that are included in the securitization and will continue to service the accounts associated with such receivables following the securitization.
 The transaction, which is scheduled to close Sept. 24, 1992, is being underwritten by Bear, Stearns & Co. Inc., Merrill Lynch & Co. and J. P. Morgan Securities Inc.
 First USA, Inc. is a financial services company specializing in the credit card business and is among the largest providers of Visa and MasterCard services in the nation. First USA, Inc.'s two principal operating units are First USA Bank and First USA Merchant Services, Inc. First USA Bank provides Visa and MasterCard services nationwide and had 3.1 million credit cards issued at June 30, 1992. First USA Merchant Services, Inc. processes merchant credit card transactions for more than 139,000 merchant locations.
 -0- 9/18/92
 /CONTACT: George A. McCane of First USA, Inc., 214-746-8547/
 (FUS) CO: First USA, Inc. ST: Texas IN: FIN SU:


PS -- NY009 -- 0969 09/18/92 08:48 EDT
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Date:Sep 18, 1992
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