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PRESIDENT OF UNIVERSAL CARD TO LEAVE AT&T

 JACKSONVILLE, Fla., Feb. 3 /PRNewswire/ -- AT&T Universal Card Services Corporation today announced the resignation of Paul G. Kahn, president and chief executive officer, effective May 15, 1993. At that time, Mr. Kahn will also leave his position as chairman of the board of AT&T Universal Financial Corporation.
 Kahn, 48, led AT&T's successful move into the credit card business in March 1990 with the introduction of the AT&T Universal Card -- a combined long-distance calling card and general purpose credit card. Since then, AT&T Universal Card Services has become the second largest issuer of bank credit
cards in the United States, with 10.5 million accounts. At the end of 1992, more than 16 million AT&T Universal


Cards had been issued. On a stand-alone basis, Universal Card Services would be a Fortune 100 service company. Under Kahn's leadership, the company became profitable ahead of schedule.
 Late last year, AT&T Universal Card Services was awarded the Malcolm Baldrige National Quality Award, becoming the youngest company and the only financial services company ever to receive this prestigious award.
 Kahn said: "I have enjoyed my time at AT&T and the challenge of building this new business from scratch. I feel I have accomplished in four years what many people could not do in an entire business career. With the startup success of Universal Card behind me, I intend to move on to another exciting challenge.
 "After completing two turnarounds at other companies in the last 10 years, not to mention leading this tremendous startup at AT&T, it's time to do this again for my own portfolio," Kahn said.
 "I will also take the opportunity of our Baldrige win," he continued, "to address the business community about quality and entrepreneurship in America, something I really believe in."
 Robert J. Ranalli, president of AT&T Consumer Services, said: "Paul Kahn will be a tough act to follow. He built an organization that has made all of us proud.
 "AT&T started Universal Card Services as a way of deepening our relationship with our long distance customers. That remains our strategy, and we are committed to the continued success of the Universal Card. Having built one of the most successful consumer financial services companies in the past decade, Paul feels he's ready for new challenges. We understand that and wish him well."
 Ranalli said the company expects to name a replacement in the near future and that Kahn has agreed to remain in place for a reasonable amount of time to assist in the transition.
 Before joining AT&T (NYSE: T) in May 1989, Kahn served in executive positions with the First National Bank of Chicago, Mellon Bank in Wilmington, Del., and Wells Fargo Bank in San Francisco.
 -0- 2/3/93
 /CONTACT: Bruce Reid of AT&T Universal Card Services, 904-443-8894, or at home, 904-285-7686; or Walter Murphy of AT&T, 908-221-6900, or at home, 201-822-3466/
 (T)


CO: AT&T Universal Card Services Corp.; ST: Florida IN: TLS SU: PER

SH -- NY061 -- 2462 02/03/93 13:47 EST
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Publication:PR Newswire
Date:Feb 3, 1993
Words:511
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