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GASCARD INC. ANNOUNCES RESULTS FOR THE QUARTER AND NINE MONTHS ENDED MAY 31, 1992

 GASCARD INC. ANNOUNCES RESULTS FOR THE QUARTER
 AND NINE MONTHS ENDED MAY 31, 1992
 CARLSBAD, Calif., July 15 /PRNewswire/ -- GASCARD Inc. (GASCARD or the company) of Carlsbad today announced earnings for the third quarter and the nine months ended May 31, 1992.
 GASCARD reported an after-tax profit of $50,672, or $.0007 per share, on revenues of $1,348,362 for the three months ended May 31, 1992, compared with an after-tax loss of $64,925, or $.0009 per share, on revenues of $1,228,133 for the same period last year. The larger revenue and profit numbers for the third quarter of fiscal 1992 are primarily the result of growth in the company's business. Same quarter unit volume of gallons processed is up 18 percent.
 GASCARD also reported an after-tax profit of $130,671, or $.0018 per share, on revenues of $4,211,165 for the nine months ended May 31, 1992, compared with an after-tax profit of $119,018, or $.0016 per share, on revenues of $3,931,021 for the same period last year. The larger revenue for the first nine months of fiscal 1992 is also primarily the result of growth in GASCARD's business. The increased profit for the period reflects business growth as well but to a smaller degree due to the modification in April 1991 of the company's transaction processing pricing to make it less sensitive to fuel price changes such as the substantial increase that followed Iraq's invasion of Kuwait in August 1990. Unit volume of gallons processed for the six-month period, however, is up 12 percent.
 Chairman and Chief Executive Officer Lindsay B. Holland added that "GASCARD has now reported profits for 10 of the last 12 quarters from August 1989 through May 1992. The company is slightly below forecast on revenue but above plan on net income and expects to be profitable for all of fiscal 1992 as major agreements signed over the last three years with the States of Delaware and Utah and with the Sinclair Oil Corp., respectively, as well as existing and new franchisees produce meaningful revenue growth."
 Background -- GASCARD Inc.:
 GASCARD provides fuel management services to tens of thousands of commercial and governmental fleets that transact more than 14,000,000 gallons of fuel per month through more than 2,630 locations in 38 states. Since 1981 GASCARD has transacted more than 1.2 billion gallons. The company has contracts to provide fuel management services for the California Energy Commission and the States of Delaware and Utah and to process a proprietary fleetcard for Sinclair Oil Corp. The GASCARD network also has interchange agreements with ARCO's PayPoint and Sinclair's Fleetcard networks.
 GASCARD has developed and markets nationally a comprehensive card-activated fuel management system designed to reduce commercial and governmental fleet fueling costs. The GASCARD system can prevent unauthorized purchases; lower accounting, administrative and other costs of fleet fueling; and eliminate or lessen the environmental risks of underground fuel storage tank ownership or operation. Each billing cycle, the GASCARD system reports complete fleet fueling transaction data -- date, time, site, vehicle, driver, odometer, miles per gallon, cents per mile, product, volume, price, extension and excise tax details -- which fleet managers can use to maximize fleet efficiency. Through GASCARD's 126 franchisees, which are typically independent petroleum marketers, more than 500 salespeople market the GASCARD system primarily to local and regional delivery, sales and service fleets, such as fuel and beverage distributors, overnight package delivery services, taxis, public utilities and governmental agencies.
 GASCARD was originally organized in May 1981 and went public through an offering of its common stock in March 1987. In January 1990, the U.S. Patent Office issued Patent No. 4,891,503 to GASCARD for its distributed authorization system. This sophisticated data base management program automatically maintains individualized subsets of GASCARD's national data base in local point-of-sale terminals which enables them to authorize and process transactions almost instantaneously without recourse to GASCARD's central computer and thus at a greatly reduced telecommunications cost. GASCARD's common stock is traded on the over-the-counter market.
 -0- 7/15/92
 /CONTACT: Lindsay B. Holland of GASCARD, 619-431-3200, ext. 120/ CO: GASCARD Inc. ST: California IN: AUT OIL TRN SU:


CH-AL -- SD004 -- 9559 07/15/92 12:50 EDT
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Date:Jul 15, 1992
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