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ILLINOIS APPELLATE COURT ISSUES STAY OF INJUNCTION; SAFECARD TO PROCEED AGAINST PETER HALMOS IN WYOMING STATE COURT

 CHEYENNE, Wyo., Sept. 14 /PRNewswire/ -- SafeCard Services, Inc. (NYSE: SSI), said today it has been notified that a three-judge panel of the Illinois Appellate Court has granted the company's emergency motion to stay an injunction that Peter Halmos had secured from the Cook County, Ill., Circuit Court barring the company from pursuing claims in the Wyoming State Court against Peter Halmos and related entities.
 "This order has the effect of permitting SafeCard to proceed with the action it filed in Wyoming State Court, pending the Illinois Appellate Court's resolution of SafeCard's appeal of the Cook County injunction. We intend to move forward with our suit in Wyoming," the company said.
 SafeCard filed the suit against Peter Halmos and related entities in Laramie County Circuit Court, Wyo., alleging that Halmos dominated and controlled SafeCard, breached his fiduciary duties to the company and misappropriated material non-published information to make $48 million in profits on sales of company stock.
 SafeCard Services, Inc., is the world's largest provider of credit card registry services and also provides other enhancement services through its credit card issuer clients.
 -0- 9/14/93
 /CONTACT: Bob Stone of The Dilenschneider Group, 212-922-0900, or home, 914-591-5534/
 (SSI)


CO: SafeCard Services, Inc. ST: Wyoming, Illinois IN: SU:

GK-TW -- NY068 -- 1834 09/14/93 14:42 EDT
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Publication:PR Newswire
Date:Sep 14, 1993
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