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SAFECARD AUTHORIZES STOCK REPURCHASE PLAN, DECLARES QUARTERLY DIVIDEND AND SETS ANNUAL MEETING

 CHEYENNE, Wy., Feb. 16 /PRNewswire/ -- SafeCard Services, Inc. (NYSE: SSI) announced today that its board of directors has authorized SafeCard to repurchase up to 4 million shares of its outstanding common stock. SafeCard currently has approximately 26,646,000 shares outstanding.
 The company said the repurchases may be made from time to time through Feb. 28, 1994, depending on the then current market, financial and corporate conditions through open market purchases, block trades or private negotiated transactions. Under the plan, there is no obligation or assurance that any repurchases will, in fact, be made, the announcement said.
 Gerald Cahill, SafeCard's chief operating officer, stated that "in view of SafeCard's strong financial position and the current price level of our common stock, we believe that the repurchase of our own shares represents an attractive investment that will benefit SafeCard and its shareholders."
 "The stock repurchase plan just announced and the change to a quarterly dividend policy at a higher indicated annual rate disclosed two months ago," Mr. Cahill added, "reflect the confidence that management and the board of directors have in SafeCard's future."
 SafeCard announced on Dec. 16, 1992 that it had changed its dividend policy from $.15 per annum, payable semi-annually, to an indicated annual rate of $.20 per share, payable quarterly.
 SafeCard also said today that, consistent with its new dividend policy, the board of directors has declared a dividend of $.05 per share of common stock, payable on March 25, 1993 to shareholders of record on February 23, 1993.
 SafeCard also announced that it has set its annual meeting for April 8, 1993 in Chicago, Ill. The record date for the annual meeting is Feb. 23, 1993.
 -0- 2/16/93
 /CONTACT: Bob Stone (media) or Gene Miller (investor relations) of The Dilenschneider Group, 307-771-2700, for SafeCard Services, Inc./
 (SSI)


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

TM-KW -- NY009 -- 6719 02/16/93 08:51 EST
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Date:Feb 16, 1993
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