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SAFECARD REFILES SUIT AGAINST HALMOS IN STATE COURT IN WYOMING

 CHEYENNE, Wyo., Aug. 11 /PRNewswire/ -- SafeCard Services, Inc. (NYSE: SSI), today announced that it has filed in state court in Cheyenne, a suit against Peter A. Halmos, the company's former chairman, director, secretary and executive management consultant. The suit seeks recoupment of tens of millions of dollars in insider trading profits and alleges breach of fiduciary duty, misappropriation of corporation opportunities, misuse of corporate assets and other wrongs.
 The new suit states the same claims and seeks the same relief as a suit that SafeCard previously filed against Peter Halmos in federal court in Wyoming on May 18, 1993. The federal court dismissed the earlier suit last Friday for lack of federal venue in Wyoming. The federal court's ruling concerned only the procedural question of which court should decide SafeCard's claims and did not address the merits of SafeCard's claims. SafeCard believes that Wyoming state court, which is governed by a venue statute that is different from the federal venue statute, is a proper venue for resolution of its claims. SafeCard intends to pursue these claims vigorously.
 The new suit names as additional defendants and seeks specified relief from High Plains Capital Corporation and CreditLine Corporation, which are both Wyoming corporations that are owned in part by Peter Halmos.
 Copies of the new complaint may be obtained through the District Court for the First Judicial District of Wyoming, which is located in Cheyenne.
 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- 8/11/93
 /CONTACT: Bob Stone of The Dilenschneider Group, 212-922-0900, or at home, 914-591-5534; or Gene Miller (investors), of SafeCard Services, 407-852-1925/
 (SSI)


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

SH-MP -- NY053 -- 1659 08/11/93 11:49 EDT
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Publication:PR Newswire
Date:Aug 11, 1993
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