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PRICE OF $11.50 PER SHARE SET FOR REPURCHASE OF SAFECARD STOCK BY STEVEN J. HALMOS

 CHICAGO, April 7 /PRNewswire/ -- SafeCard Services, Inc. (NYSE: SSI) said today that the purchase price for its previously announced off- market repurchase of 1,645,760 shares of common stock owned by Steven J. Halmos, its co-founder and currently serving as a full time advisor on marketing and operational strategy, will be $11.50 per share.
 The company had previously announced that this repurchase, which is part of the company's 4 million share stock repurchase program, would be at a purchase price measured by the average closing price of the company's stock for the three trading days preceding a preset measurement date, provided the average price was within a range of $11.50 to $13.50 per share.
 This repurchase when completed will bring the company's repurchases under the program, which terminates Feb. 28, 1994, to 2,111,000 shares.
 The repurchase agreement with Halmos was part of a larger transaction with him that included a 5-year consulting agreement, a 7- year non-compete and a standstill, voting and right-of-first refusal agreement covering, among other things, 3,950,000 shares of SafeCard stock that Mr. Halmos may acquire pursuant to previously granted incentive stock options.
 -0- 4/7/93
 /CONTACT: Bob Stone of Dilenschneider Group c/o The University Club, 312-726-2840, or 312-565-8000 (Fairmont Hotel after 9 p.m. to 7 a.m. CDT)/
 (SSI)


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

AH-OS -- NY052 -- 3864 04/07/93 15:31 EDT
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Publication:PR Newswire
Date:Apr 7, 1993
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