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FIRST USA TO ISSUE 4.5 MILLION COMMON SHARES IN INITIAL PUBLIC OFFERING

FIRST USA TO ISSUE 4.5 MILLION COMMON SHARES IN INITIAL PUBLIC OFFERING
 DALLAS, May 28 /PRNewswire/ -- First USA, Inc. (NYSE: FUS) today announced an underwritten initial public offering of 4 million shares of common stock and a direct placement of 500,000 shares, primarily to certain directors and officers of the company, pursuant to an effective registration statement.
 All of the shares are being sold by the company, and no shares are being offered by any existing shareholders.
 Merrill Lynch & Co., Bear, Stearns & Co. Inc., and Alex. Brown & Sons Incorporated are the lead representatives of the underwriters. The company has granted the underwriters a 30-day option to purchase up to 480,000 additional shares of common stock to cover over-allotments.
 The estimated $37 million in net proceeds from the offerings will be used to repurchase certain privately held shares of common and preferred stock and for general corporate purposes.
 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 subsidiaries are First USA Bank and First USA Merchant Services, Inc. First USA Bank is the nation's 14th largest issuer of Visa and MasterCard services based on managed loans outstanding and has approximately 3 million credit cards issued nationwide. First USA Merchant Services, Inc., the nation's ninth largest processor of merchant credit card transactions based on sales volume processed, provides services at more than 126,000 merchant locations.
 -0- 5/28/92
 /CONTACT: George A. McCane of First USA, Inc., 214-746-8700/
 (FUS) CO: First USA Inc. ST: Texas IN: FIN SU: OFR


PS -- NY024 -- 4624 05/28/92 10:01 EDT
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Publication:PR Newswire
Date:May 28, 1992
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