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FIRST CASH CLOSES OFFERING TO SELL STOCK OF SELLING STOCKHOLDERS

 ARLINGTON, Texas, Dec. 1 /PRNewswire/ -- First Cash, Inc. (NASDAQ: PAWN) announced that on Nov. 24, 1993, the company closed an offering to sell 590,000 shares of common stock of three directors of the company at $4 per share. Also on this date, these three directors, as well as two other directors, resigned from the company's board of directors. These directors have resigned amicably to pursue personal and professional matters outside the company. The stock was primarily purchased by members of management, principals of the firm of Sanders Morris Mundy Inc., Richard T. Burke and director, Joe R. Love and Partridge Capital Corporation, an affiliate of Joe R. Love.
 Burke has accepted a nomination to serve as a director of the company. The company is confident that he will be confirmed to serve as a director by the stockholders at the upcoming annual stockholders' meeting, to be held on Dec. 21, 1993. Burke is the founder and former chief executive officer and chairman, from 1974 to 1988, of United HealthCare Corporation. He remains a director of United HealthCare Corporation, a company engaged in the managed health care industry. From 1977 to 1987, Burke also served as chief executive officer of Physicians Health Plan of Minnesota (now MEDICA), the largest client of United HealthCare Corporation. Burke also serves as a director and vice chairman of the board of directors of Education Alternatives, Inc., a company engaged in the business of providing school management services and products to public schools. The securities of United HealthCare Corporation and Education Alternatives, Inc. are registered pursuant to the Securities Exchange Act of 1934.
 Rick Powell, chairman and chief executive officer, stated, "We are looking forward to working with Mr. Burke. He brings with him a vast knowledge of successful business ventures and we are most pleased Mr. Burke has agreed to share this expertise. Also, we appreciate the continued confidence expressed by Mr. Joe Love, a director, through his additional financial investment in First Cash. Along with Mr. Burke and Mr. Love, we are proud to add an investor such as Sanders Morris Mundy Inc. to our stockholder list."
 -0- 12/1/93
 /CONTACT: Mary Ann Jost, investor relations of First Cash, Inc., 817-633-7296/
 (PAWN)


CO: First Cash, Inc. ST: Texas IN: SU: OFR

CK -- NY082 -- 9327 12/01/93 13:20 EST
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Publication:PR Newswire
Date:Dec 1, 1993
Words:388
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