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FIRST USA, INC. PRICES OFFERING OF 5 MILLION COMMON SHARES, 4 MILLION BY EXISTING HOLDERS, 1 MILLION NEW SHARES BY COMPANY

 DALLAS, Aug. 11 /PRNewswire/ -- First USA, Inc. (NYSE: FUS) today announced an underwritten public offering of 5 million shares of its common stock at a price of $50 per share, pursuant to an effective registration statement.
 Of the total offering, 4 million shares are being offered by existing stockholders who participated in the acquisition of the company in 1989. In addition, 1 million new shares are being offered by the company, which will use the estimated $47.2 million in net proceeds for general corporate purposes, which may include a reduction of debt, providing capital to subsidiaries for expansion, and other corporate uses. The company will not receive any of the proceeds from the sale of shares by the selling stockholders.
 Four million shares are being offered within the United States and Canada, and 1 million shares are being offered concurrently abroad. The selling stockholders have granted the underwriters a 30-day option to sell up to 750,000 additional shares of common stock at $50 per share to cover over-allotments. When the offering is completed, approximately 27.6 million shares will be outstanding.
 Merrill Lynch & Co. is lead manager, and Bear, Stearns & Co. Inc., Alex, Brown & Sons Incorporated, and Goldman, Sachs & Co. are co- managers of the offering.
 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 more than 4.5 million credit cards issued at June 30, 1993. First USA Merchant Services, Inc. processed $10.2 billion in credit card sales during the fiscal year ended June 30, 1993.
 -0- 8/11/93
 /CONTACT: George A. McCane, First USA, Inc., 214-746-8547/
 (FUS)


CO: First USA, Inc. ST: Texas IN: FIN SU: OFR

LD -- NY109 -- 1915 08/11/93 18:20 EDT
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Publication:PR Newswire
Date:Aug 11, 1993
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