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WALLACE ANNOUNCES STOCK REPURCHASE

 WALLACE ANNOUNCES STOCK REPURCHASE
 HILLSIDE, Ill., Sept. 9 /PRNewswire/ -- The board of directors of


Wallace Computer Services, Inc. (NYSE: WCS) today authorized the repurchase of an aggregate of up to 1,000,000 shares of the company's common stock.
 Shares would be repurchased from time to time at the discretion of the company in unsolicited transactions at prices prevailing at the time of repurchase.
 It is anticipated that any shares repurchased will be used for the company's employee stock purchase and stock option plans, although repurchased shares could also be used for future acquisitions.
 Ted Dimitriou, chairman and chief executive officer, said, "We believe that Wallace's common stock represents a good investment and that the share repurchase program will benefit the company and its stockholders. No debt will be incurred; all repurchases will be made with cash generated from operations.
 "Wallace has invested more than $179 million in new plants and equipment over the last five years. This repurchase program is further evidence of he board's belief that Wallace is, and will continue to be, a sound investment."
 Wallace Computer Services, Inc. is a leader in the computer services and supply industry. The company's products and services include business forms, commercial printing, direct mail advertising, computer hardware and software, computer labels and accessories, machine ribbons and other office products. Wallace has sales offices and manufacturing and distribution facilities throughout the United States.
 -0- 9/9/92
 /CONTACT: Michael Halloran, 708-449-8600, for Wallace Computer Services/
 (WCS) CO: Wallace Computer Services, Inc. ST: Illinois IN: CPR SU:


LR -- NY068 -- 7627 09/09/92 15:35 EDT
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Publication:PR Newswire
Date:Sep 9, 1992
Words:264
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