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VERIFONE ANNOUNCES PENDING LITIGATION

 REDWOOD CITY, Calif., Oct. 15 /PRNewswire/ -- VeriFone, Inc. (NASDAQ: VFIC) today announced that it has received a complaint filed in United States District Court in San Francisco, alleging violation of federal securities laws. VeriFone believes that the allegations are without merit and intends to defend against this litigation vigorously.
 The Company
 VeriFone, Inc., based in Redwood City, Calif., is a leading global provider of Transaction Automation solutions used to deliver payment processing and other transaction services to the retail, healthcare and government markets. The company has more than 30 facilities -- including regional offices, development centers, and manufacturing and distribution centers -- located throughout the United States and in or near Frankfurt, Germany; London; Madrid, Spain; Milan, Italy; Paris; Singapore; Sydney, Australia; Taipei and Kaohsiung, Taiwan, R.O.C.; and Bangalore, India. To date, VeriFone has shipped more than 3.1 million Transaction Automation systems, which have been installed in more than 70 countries. The company's 1992 revenues totaled $226.1 million. VeriFone was named one of the 200 best small companies by Forbes in 1991 and 1992 and one of the 100 best companies in California by California Business in 1992 and 1993.
 -0- 10/15/93
 /CONTACT: Thomas W. Hubbs, 415-598-5548, or Tod Bottari, 415-598-5570, both of VeriFone/
 (VFIC)


CO: VeriFone Inc. ST: California IN: CPR SU:

TM -- SJ004 -- 3017 10/15/93 20:00 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
Words:226
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