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HARLAND ANNOUNCES SHARE REPURCHASE PROGRAM

 ATLANTA, Ga., June 7 /PRNewswire/ -- Atlanta-based John H. Harland Company (NYSE: JHH) today announced that its board of directors has authorized the purchase of up to 3.4 million shares of common stock.
 Based on Friday's closing price on the New York Stock Exchange of $27 per share, these shares have a current market value of $92 million. The periodic purchases will be made in cash on the open market or in private transactions. The authorized number represents approximately 10 percent of Harland's outstanding shares. In February 1993, Harland completed a four million share repurchase program that began in November 1991.
 According to the company, any shares repurchased under the program can be held in treasury or used for acquisitions, for funding Harland's employee benefit plans or for other corporate purposes. Purchases will be funded from borrowings and working capital.
 "Based on the success of our previous program, we believe we can continue to create long-term value for stockholders by embarking on another stock buyback program," said Robert R. Woodson, Harland chairman, president and chief executive officer. "We feel that our stock represents a good investment opportunity."
 Harland is one of the nation's largest check printers and serves the financial community with a variety of related products and services. In addition, Harland is a major national participant in the data servic industry, serving educational and commercial markets. The company has production facilities for its business units across the United States and in Puerto Rico.
 -0- 6/7/93
 /CONTACT: Robert R. Woodson, chairman, president & CEO, or Michael S. Rupe, senior vice president of John H. Harland, 404-981-9460/
 (JHH)


CO: John H. Harland Company ST: Georgia IN: SU:

BR-RA -- AT005 -- 5977 06/07/93 11:21 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
Words:286
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