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SAFECARD SERVICES REPORTS 1993 RECORD REVENUE AND EARNINGS

 CHEYENNE, Wyo., Dec. 9 /PRNewswire/ -- SafeCard Services, Inc. (NYSE: SSI), today reported record total revenue (as well as record subscription revenue) for its fourth quarter and fiscal year 1993. Net earnings for the fiscal year 1993 were also a record.
 Total revenue reached $42,484,000 and $167,126,000 in the fourth quarter and for the fiscal year ended Oct. 31, 1993, respectively, compared to $39,511,000 and $157,631,000 for the same periods in 1992. Subscription revenue reached $40,197,000 and $156,600,000 in the fourth quarter and for the fiscal year 1993, respectively, compared to $36,664,000 and $146,265,000 for the same periods in the prior year.
 Net earnings for fiscal 1993 reached a record $31,477,000, or $1.10 per share, compared to $22,498,000, or $.75 per share, in fiscal 1992. The year 1992 included a $17.5 million pre-tax charge related to the relocation of the company's operations from Fort Lauderdale, Fla., to Cheyenne, as well as a $550,000 gain from the settlement of litigation.
 Net earnings for the fourth quarter of 1993 were $6,561,000, or $.24 per share, compared to $4,274,000, or $.14 per share, for the same period in 1992. The fourth quarter of 1992 included a $6.5 million pre-tax charge for the above-described relocation.
 Net earnings for both the fourth quarter and year 1993 were reduced by higher legal costs, lower interest income and higher income taxes. Legal fees for the fourth quarter and fiscal year of 1993 were $3.0 million and $7.1 million, respectively, an increase of $2.3 million and $5.4 million compared to the corresponding periods in 1992. The increase in legal fees relate primarily to the litigation with Peter Halmos, the company's former chairman of the board.
 Interest and other income decreased by approximately $.6 million and $.8 million in the fourth quarter and fiscal year 1993 compared to the same periods in 1992. The decreases were primarily due to lower interest rates during 1993 and reduced cash available for investment because of the company's repurchase of its common stock. The company has repurchased 3,469,860 shares of its common stock at a total cost of $41.7 million, through its fiscal year ended 1993.
 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.
 SAFECARD SERVICES, INC.
 Fourth quarter ended Oct. 31, 1993 1992
 Subscription Revenue $40,197,000 $36,664,000
 Interest and Other Income 2,287,000 2,847,000
 Total Revenue $42,484,000 $39,511,000
 Earnings before Income Taxes $ 9,224,000 $4,589,000(B)
 Net Earnings $ 6,561,000 $ 4,274,000
 Earnings per Share $.24 $.14
 Average Shares 27,465,000 29,738,000
 Fiscal year ended Oct. 31, 1993 1992
 Subscription Revenue $156,600,000 $146,265,000
 Interest and Other Income 10,526,000 11,366,000
 Total Revenue $167,126,000 $157,631,000
 Earnings before Income
 Taxes $42,445,000 $ 28,904,000(A)(B)
 Net Earnings $31,477,000 $ 22,498,000
 Earnings per Share $1.10 $.75
 Average Shares 28,572,000 30,158,000
 (A) Includes gain from settlement of litigation of $550,000.
 (B) Net of estimated charge for relocation of the company's operations from Fort Lauderdale, Fla., to Cheyenne, Wyo., of $6,500,000 and $17,500,000 in the fourth quarter and fiscal year, respectively.
 -0- 12/9/93
 /CONTACT: Bob Stone of The Dilenschneider Group, or Gene Miller, investor relations of SafeCard Services, 307-771-2703/
 (SSI)


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

WB -- NY063 -- 2333 12/09/93 16:10 EST
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Publication:PR Newswire
Date:Dec 9, 1993
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