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TRANSMEDIA NETWORK INC. DECLARES FIRST CASH DIVIDEND AND ANNOUNCES THREE-FOR-TWO STOCK SPLIT IN THE FORM OF 50 PERCENT STOCK DIVIDEND

 NORTH MIAMI, Fla., Sept. 21 /PRNewswire/ -- The board of directors of Transmedia Network Inc. (NASDAQ: TMNI) today announced it intends to pay an annual cash dividend at the initial rate of 6 cents per share, and declared the first semi-annual dividend of 3 cents per share. The board also declared a three-for-two stock split, in the form of a 50 percent stock dividend. Both dividends are payable Oct. 21 to shareholders of record as of Oct. 7, 1993.
 Meeting yesterday in New York, Transmedia's board additionally elected Michael L. Diamond, 47, executive vice president, administration, to be a member of the board, and named Ronald S. Kieves, 37, director of marketing, to the position of vice president.
 Mr. Diamond, who joined the company in May 1993, is a former senior vice president of American Express Company's Southern Regional Operations Center, Fort Lauderdale, Fla., and 25-year executive of that company. Mr. Kieves joined Transmedia in August 1992, having served as president of Multi-Marketing, Inc., Wykoff, N.J.
 Transmedia, established in 1984, owns and markets a restaurant charge card offering 25 percent savings on meals. The company derives its income from membership fees and cardmembers' use of The Restaurant Card which makes available to them 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. More than 190,000 cardmembers and 2,200 restaurants have joined the Transmedia program to date.
 Headquartered in North Miami, where Transmedia runs its Cardmember Service Center, the company also operates in the metropolitan New York City area; Boston, and Philadelphia and its surrounding area, including Delaware. In addition, five franchised operations cover most of New Jersey; Chicago and suburbs; Maryland, Washington, D.C. and northern Virginia; California, and North and South Carolina.
 A licensing agreement to establish the company's business in the United Kingdom and Europe was completed in August.
 -0- 9/21/93
 /CONTACT: Stephen Berg, 212-580-8760, or David Weinberg, 305-892-3300, both for Transmedia Network/
 (TMNI)


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

CK -- NY049 -- 4183 09/21/93 12:57 EDT
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Publication:PR Newswire
Date:Sep 21, 1993
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