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SAFECARD WYOMING RELOCATION COMPLETE, FOURTH QUARTER EARNINGS CHARGE, DIVIDEND CHANGE; PETER HALMOS NO LONGER WITH THE COMPANY

 CHEYENNE, Wyo., Dec. 16 /PRNewswire/ -- SafeCard Services, Incorporated (NYSE: SSI), announced today that the company's physical relocation of its headquarters and operations to Cheyenne, Wyo., from Fort Lauderdale, Fla., has been completed. All customer service functions have been discontinued in Florida, the company said. Construction of SafeCard's new 115,000-square-foot headquarters and operations center in Wyoming has been completed, with upgraded data processing, security and telephone systems in place. The company employs approximately 400 persons.
 SafeCard also announced today that it intends to record in the fourth fiscal quarter ending Oct. 31, 1992, a $6.5 million pre-tax ($4.1 million after-tax) charge to earnings. This charge will increase the company's reserve for estimated relocation expenses to reflect, in particular, the weaker than expected rental market in South Florida where the company's prior headquarters were located.
 Peter Halmos, a co-founder of the company and most recently its executive management consultant, is no longer with the company and is pursuing other interest.
 SafeCard also announced today that its board of directors has changed the company's dividend policy from a semi-annual to a quarterly basis and that a cash dividend of 5 cents per share will be paid in January.
 SafeCard's board of directors authorized the payment on Jan. 15 to shareholders of record as of Dec. 28.
 The new indicated annual dividend rate of 20 cents per share represents an increase of 33 percent over the previous annual rate of 15 cents per share, the company said. Until such time as the board may amend the new dividend policy, the company intends to pay quarterly dividends in March, June, September and December. Previously the company had been paying a 7.5 cent semi-annual dividend in March and September.
 SafeCard, founded in 1969, is one of the nation's largest credit card service organizations.
 -0- 12/16/92
 /CONTACT: Bob Stone, 212-922-0900, or home, 914-591-5534, for SafeCard/
 (SSI)


CO: SafeCard Services, Incorporated ST: Wyoming IN: FIN SU:

LD-GK -- NY010 -- 7557 12/16/92 08:41 EST
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Publication:PR Newswire
Date:Dec 16, 1992
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