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TRANSMEDIA NETWORK DECLARES 3-FOR 2 STOCK SPLIT IN THE FORM OF 50 PERCENT STOCK DIVIDEND; ANNOUNCES PROMOTIONS & NEW CORPORATE OFFICES

 TRANSMEDIA NETWORK DECLARES 3-FOR 2 STOCK SPLIT IN THE FORM OF 50 PERCENT STOCK DIVIDEND; ANNOUNCES PROMOTIONS & NEW CORPORATE OFFICES
 NORTH MIAMI, Fla., March 17 /PRNewswire/ -- The board of directors of Transmedia Network Inc. (NASDAQ: TNMI), the company which owns and markets the Executive Savings Card, entitling holders of 25 percent savings on meals, today declared a three-for-two stock split in the form of a 50 percent stock dividend, payable April 17, to shareholders or record as of April 7.
 Transmedia's board also approved the naming of five new officers, three of whom are filling newly created positions.
 Officers appointed to new posts are: James M. Callaghan, executive vice president, from vice president; David L. Weinberg, vice president and chief financial officer, from vice president, finance and Paul Ficalora, vice president, operations, from director of franchise sales.
 Selected to fill existing officer positions are: Gregory Borges, controller, who now also becomes treasurer and Kathryn Ferara, assistant secretary, named secretary.
 "New officers and the creation of new positions within the company are in keeping with Transmedia's growth and present organizational responsibilities," said Melvin Chasen, chairman and chief executive officer, adding, "rapid increases in revenues and gross income from new cardholder activity and a growing number of member restaurants are creating an increasingly faster rate of growth and resulting opportunities for us."
 Transmedia Network Inc., established in 1984, derives its income from membership fees and cardholders' use of the Executive Savings Card which makes available to cardholders food and beverage credits issued to the company by restaurants in return for cash advances used by these dining establishments for a wide variety of needs. Food and beverage credits used by cardholders, are processed through Visa, MasterCard and Discover Card.
 More than 90,000 cardholders and 1,200 restaurants have joined the
Transmedia program to date. The company operates an executive office in New York, where it serves the New York area market, and its headquarters are in North Miami, where Transmedia also runs its Cardholder Service Center and serves the Florida market. Franchised territories include (1) most of New Jersey; (2) Philadelphia and surrounding area, including Delaware, (3) Chicago and surrounding area and, (4) Washington and Baltimore and (5) the State of California.
 -0- 3/17/92
 /CONTACT: David L. Weinberg of Transmedia Network, 305-892-3300, or Stephen Berg of Stephen Berg Public Relations, 212-580-8760, for Transmedia Network/
 (TMNI) CO: Transmedia Network Inc. ST: Florida IN: ENT SU:


KD-TS -- NY051 -- 8773 03/17/92 12:40 EST
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Publication:PR Newswire
Date:Mar 17, 1992
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