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TRANSMEDIA NETWORK INC. BUYS BACK ITS PHILADELPHIA FRANCHISE, ESTABLISHING FOURTH COMPANY RUN AREA

 NORTH MIAMI, Fla., March 10 /PRNewswire/ -- Transmedia Network Inc. (NASDAQ: TMNI), which owns and markets a restaurant charge card offering 25 percent savings on meals, announced today it has bought back its Philadelphia franchise from Main Line Credit Corp., and will operate the business similarly to its company owned operations in New York, Boston and South Florida.
 According to David Weinberg, chief financial officer of Transmedia, "We welcome the opportunity to purchase the franchise because with its list of more than 100 restaurants throughout the Philadelphia area as well as the State of Delaware, it is now poised to develop into another successful company operation." Mr. Weinberg explained that the franchise became available due to the retirement from business of Main Line Credit Corp.'s principal shareholder.
 He noted also, "Transmedia is in such an excellent cash position that we now enjoy the flexibility of being able to open company owned operations on a market-by-market basis throughout the country, when appropriate, in addition to selling franchises.
 "This strong cash position reflects overwhelming national acceptance of Transmedia's value-added concepts, underscored by our cardholder growth." Mr. Weinberg added that more than 141,000 cardholders and 1,700 restaurants have joined Transmedia's program to date.
 Main Line Credit's sales, marketing and executive staff, headed by Aman "Buzz" Barber, will continue to build Transmedia's Philadelphia- area business base of member restaurants and cardholders.
 Mr. Barber said, "We are enthusiastic about become part of Transmedia's company run operations and welcome its strong resources as we expand throughout our flourishing market area. We are also excited that an increasing number of cardholders from all over the country are now enjoying an expanding number of Philadelphia-area member restaurants."
 In addition to its company owned operations, Transmedia franchises are active in the following locations: most of New Jersey; Chicago; Washington, D.C. and Northern Virginia; the San Francisco Bay area, and North and South Carolina. In December 1992, the company signed an agreement for a licensing arrangement in the United Kingdom and Europe, subject to closing July 1993.
 Transmedia Network Inc, established in 1984, derives its income from membership fees, franchise fees, and cardholders' use of the Executive Savings Card which makes available to cardholders food and beverage credits issued to the company by restaurants in return for cash advances used by these dining establishments for a wide variety of needs.
 -0- 3/10/93
 /CONTACT: David Weinberg of Transmedia Network Inc, 305-892-3300, or Stephen Berg of Stephen Berg Public Relations Inc., 212-580-8760, for Transmedia Network Inc./
 (TMNI)


CO: Transmedia Network Inc. ST: Florida IN: SU:

SH-OS -- NY011 -- 4829 03/10/93 09:24 EST
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Publication:PR Newswire
Date:Mar 10, 1993
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