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DIEBOLD FORMS ATM JOINT VENTURE IN CHINA

 CANTON, Ohio, May 26 /PRNewswire/ -- Diebold, Incorporated (NYSE: DBD), a leading world supplier of automated teller machines (ATMs) and security products, today announced formation of a joint venture to produce and service ATMs in the world's largest potential market, China.
 The new joint venture -- China Diebold Financial Equipment Company Limited -- is owned 65 percent by Diebold, 20 percent by Shanghai FarEast Aero-Technology Import and Export Corporation (SFAIC) and 15 percent by Industrial and Commercial Bank of China, Shanghai Pudong Branch (ICBC). The 30-year agreement is to manufacture, assemble, install and service ATMs and related products.
 The joint venture will begin ATM production in the fourth quarter of 1993 in Shanghai, with a new facility to be built in Pudong New Development Area in Shanghai over the next two years. The agreement is subject to the approval of the relevant authorities of the People's Republic of China (PRC) and the Shanghai Municipal People's Government, which is expected to be completed in 90 days.
 "China, the world's largest potential ATM market, is a key strategy for the continued growth of Diebold in the self-service systems business," said Robert W. Mahoney, Diebold chairman and chief executive officer. "This joint venture is in a unique position to participate in the modernization of the banking system in Shanghai and in all of China. We are pleased to be part of this country's bank modernization process and expect significant future growth in ATM deployment throughout China."
 ATM production is mainly targeted for the domestic Chinese market in order to increase self-service penetration in that country. IBM China Company Limited will be the joint venture's exclusive sales agent of the i Series(TM) product line in the PRC. The i Series from InterBold(R), the ATM and self-service joint venture between Diebold and IBM, is known worldwide for its exceptional reliability and future-oriented technology.
 According to Yuan Zhenfu, president of SFAIC, "After Mr. Wang Yuchun of ICBC and I compared all of the major ATM manufacturers in the world, we decided we wanted to work with Diebold because its product offered superior technology and reliability. We were particularly impressed with the modularity and upgradability of the company's ATMs."
 In closing, he stated, "We wanted to be partners with a company that could bring products with the most reasonable cost and superior quality and delivery to the Chinese market."
 Diebold, Incorporated (NYSE: DBD), headquartered in Canton, Ohio, is a world leader in financial self-service transaction systems, security products and customer service. Founded in 1859 as a security equipment company, Diebold today develops, manufactures, sells and services InterBold ATMs, electronic and physical security systems, facility products, software and systems for global financial and commercial markets. In 1992, Diebold had revenues of $543.8 million (U.S.), an increase of 7 percent over 1991 revenues, and earnings of $41.1 million (U.S.), a 15 percent increase over the previous year.
 -0- 5/26/93
 /CONTACT: Mary Ann Jackson of Diebold, Incorporated, 216-497-4757/
 (DBD)


CO: Diebold, Incorporated; Shanghai FarEast Aero-Technology Import and
 Export Corp.; Industrial and Commercial Bank of China ST: Ohio IN: CPR SU: JVN


BM -- CL011 -- 2385 05/26/93 10:48 EDT
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Date:May 26, 1993
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