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JOHN H. HARLAND COMPLETES INTERCHECKS ACQUISITION

 JOHN H. HARLAND COMPLETES INTERCHECKS ACQUISITION
 ATLANTA, Feb. 20 /PRNewswire/ -- The John H. Harland Company (NYSE: JH) announced the completion of its acquisition of Interchecks Inc.
 Harland paid $50 million in cash to purchase the net assets of the Seattle-based check printer, which had 1991 revenues of approximately $70 million.
 "The acquisition of Interchecks allows Harland to improve its competitive position, especially on the West Coast," said Robert R. Woodson, Harland president and chief executive officer. Woodson estimates Harland's check printing market share to climb from 23 percent to approximately 27 percent as a result of the acquisition.
 According to Woodson, Harland expects significant consolidation opportunities to positively impact profits. "Although the acquisition could have a slight dilutive impact on 1992 earnings, the long-term effects of production efficiencies are very positive," said Woodson.
 Atlanta-based 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 national participant in the data service industry, serving educational and commercial markets. The company has production facilities for its business units across the United States, Puerto Rico and Switzerland.
 Harland reported net sales of $378.7 million and net income of $47.4 million in 1991.
 -0- 2/20/92
 /CONTACT: Robert R. Woodson, president and chief executive officer, or Michael S. Rupe, senior vice president of John H. Harland, 404-981-9460/
 (JH) CO: John H. Harland Company; Interchecks Inc. ST: Georgia, Washington IN: FIN SU: TNM


BR-BN -- AT004 -- 0834 02/20/92 10:10 EST
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Publication:PR Newswire
Date:Feb 20, 1992
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