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UNITED STATES BANKNOTE COMPLETES ACQUISITION OF BRAZIL'S LEADING SECURITY PRINTER

 NEW YORK, June 23 /PRNewswire/ -- United States Banknote Corporation (NYSE: UBK) today announced that it has completed its previously announced acquisition of Brazil's leading security printer, Thomas De La Rue Grafica e Servicos Ltda., for $45 million, consisting of cash and approximately 944,000 shares of common stock of the company. U.S. Banknote's Brazilian operation is the country's largest private check printer as well as its leading credit and telephone card manufacturer. The Brazilian company's unaudited pre-tax earnings for fiscal year end March 31, 1993 were in the $8 - 9 million range. The subsidiary is based in Rio de Janeiro and also has a manufacturing facility in Sao Paulo.
 U.S. Banknote also announced that it has completed the previously announced agreement with De La Rue plc to unwind the 20 percent cross shareholding between their respective holographic subsidiaries that had been set up in 1989.
 United States Banknote is the largest printer of security documents in North America. Revenues for 1992 were $172 million. The company prints United States food coupons, postage stamps, treasury checks, stock and bond certificates, travelers cheques and currency for foreign countries using the intaglio method. Through its American Bank Note Holographics subsidiary, the company is also the world's leading producer of holograms used for security applications.
 -0- 6/23/93
 /CONTACT: Jeffrey A. Oberg, vice president - Finance and Development of United States Banknote Corporation, 212-582-9200, or Lisa Ellis, vice president of Robinson, Lake, Lerer & Montgomery, 212-484-7712, for United States Banknote Corporation/
 (UBK)


CO: United States Banknote Corporation ST: New York IN: SU: TNM

LR-OS -- NY059 -- 5114 06/23/93 15:36 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
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