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SAFECARD NAMES PAUL KAHN, CREDIT CARD INDUSTRY LEADER, CHAIRMAN OF THE BOARD AND CEO

 CHEYENNE, Wyo., Dec. 7, 1993 -- SafeCard Services, Inc. (NYSE: SSI) announced today that Paul G. Kahn, a leading executive in the credit card industry, has been named chairman of the board and chief executive officer and a director.
 Kahn's appointment increases the SafeCard board of directors from six to seven members, four of whom are outside directors.
 Kahn, former president and chief executive officer of AT&T Universal Card Services, launched AT&T's Universal Card and grew it into the world's largest issuer of MasterCard credit cards in less than four years. Kahn received wide-spread industry praise for his innovation and leadership. Under his stewardship, the company achieved profitability ahead of schedule, became a Fortune 100-sized company with over a billion dollars of annual revenue, and won the 1992 Malcolm Baldrige National Quality award from the U.S. Commerce Department -- the youngest company and only financial services company ever to do so.
 After departing AT&T in May this year, Kahn founded Coleridge Financial Corporation to develop co-branded credit cards in partnership with financial institutions. His efforts at Coleridge will be incorporated into SafeCard.
 Kahn said he "is looking forward to working with and leading the SafeCard management team in moving the company to new levels of growth and profitability over the long term." His emphasis will be on developing new products and services for both consumers and for SafeCard's business partners. "SafeCard's excellent operating infrastructure, and our 13 million person customer base offers us many exciting possibilities in the evolution of interactive consumer services. We will also look to expand our existing products to the international arena."
 Kahn said, "my focus will be on delivering high quality customer service, creating a positive environment for our employees, and significantly increasing shareowner wealth."
 In commenting on the appointment, Eugene Miller, acting chairman of the SafeCard board, said: "We are delighted to have someone with Paul Kahn's great track record and experience join the SafeCard team. He is an executive of broad vision, with proven ability to implement that vision. We expect him to utilize these strengths for the benefit of SafeCard's shareholders."
 Kahn, 49, graduated from Antioch College and spent 17 years in the information technology field. In 1980, he moved to San Francisco-based Wells Fargo Bank, running electronic banking and student loan operations, as well as turning around its loss-plagued credit card business. He revived Chicago-based Mellon Bank's credit card unit between 1986-88 and spent a year at First Chicago National Bank before AT&T recruited him. Kahn resides in Jacksonville, Fla., with his wife, Cathleen, and their three children.
 SafeCard Services, Inc. is the world's largest provider of credit card registry services, and also provides other enhancement services through its credit card issuer clients.
 PAUL G. KAHN
 Biography
 Paul G. Kahn brings a distinguished career and a long list of accomplishments to SafeCard Services, Inc. Most recently, while serving as president and chief executive officer of AT&T's Universal Card Services Corporation, (UCS), Kahn masterminded one of the most successful financial services start-ups of the decade.
 Kahn joined AT&T in May of 1989, and in March of 1990 became president and chief executive officer of UCS.
 Kahn, former president and chief executive officer of AT&T Universal Card Services, launched the Universal Card and grew it into the world's largest issuer of MasterCard credit cards in less than four years. Kahn received wide-spread industry praise for his innovation and leadership. Under his stewardship, the company achieved profitability ahead of schedule, became a Fortune 100-sized company with over a billion dollars of annual revenue, and won the 1992 Malcolm Baldrige National Quality award from the U.S. Commerce Department -- the youngest company and only financial services company ever to do so.
 Prior to joining AT&T, Kahn worked for Wells Fargo and Mellon Bank. From 1980 to 1985, as senior vice president and division manager of Wells Fargo Bank's consumer credit card business, Kahn reorganized the division and brought it from a loss position to one of the major profit centers of the bank. Under Kahn, Wells Fargo Bank's consumer credit card business contributed 15 percent of the bank's total earnings, while utilizing only 4 percent of the bank's assets. Kahn also achieved a pre-tax profit of $35 million, four times the average return on assets of the bank by doubling the customer base over a two year period, decreasing consumer complaints by 82 percent, and creating exciting new innovations in marketing and information systems technology.
 As executive vice president of Mellon Bank from 1985 to 1989, Kahn held full profit and loss accountability for Mellon's credit card business. He increased the credit card business portfolio profitability by a factor of 10 to $9 million, a return on assets of over 2 percent, and a return on equity of 45 percent. It was at Mellon Bank that Kahn introduced the nationally recognized "Life Style" cards, which established his national reputation as an innovator in the competitive credit card industry.
 Kahn's national statute as an innovator is reflected in the many awards he and his companies have received:
 -- 1992 Marketing Executive of the Year -- American Marketing
 Association
 -- 1992 Malcolm Baldrige National Quality Award -- U.S. Dept. of
 Commerce
 -- 1991 Executive of the Year -- Credit Card Management Magazine
 -- 1990 Newcomer of the Year -- Credit Card Management Magazine
 -- Best Product of the Year -- Business Week
 -- Top Banking Innovation -- American Banker
 -- Edison Award for Best Product Idea -- American Marketing
 Association
 -- Compass Award for Service Excellence -- American Marketing
 Association
 -- Ten Best Products -- Fortune Magazine, Advertising Age
 -- Winner of several EFFIE and ECHO Awards for Advertising and
 Direct Marketing
 After departing AT&T in May this year, Kahn founded Coleridge Financial Corporation to develop co-branded credit cards in partnership with financial institutions. In addition to his work on Coleridge Financial, in recent months Kahn has been traveling around the world serving as a keynote speaker on quality, entrepreneurship, and customer satisfaction for business and industry groups.
 -0- 12/7/93
 /NOTE TO EDITORS: Paul G. Kahn, elected chairman CEO and a director of SafeCard Services, Inc. (NYSE: SSI) today (Dec. 7) is available from 9:00 a.m. to 5:00 p.m. for telephone interviews at The Dilenschneider Group offices, telephone 212-922-0900. Direct your requests to Bob Stone at that number./
 /CONTACT: Bob Stone of The Dilenschneider Group, 212-922-0900, home 914-591-5534/
 (SSI)


CO: SafeCard Services, Inc. ST: Wyoming IN: FIN SU: PER

LD -- NY004 -- 1145 12/07/93 08:27 EST
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