VISA POS Tops $700 Million

Visa International reported an all time high in POS purchase volume yesterday.  In the 12 months ended September 30, 1997, almost 70 per cent of Visa’s $1.1 trillion total volume was generated at retail and travel and entertainment related outlets around the world, a  38% gain over the past two years. Visa’s $1.1 trillion total volume, which includes purchase volume and cash transactions, was 22% higher than volume for the comparable 1996 period. In the past two years, Visa’s worldwide share of personal consumption expenditure, or PCE, against cash has grown 30 per cent to 4.2 per cent, with each percentage point increase representing close to $200 billion. Preliminary results for calendar year 1997 show another 20 percent increase in Visa worldwide volume. Visa’s global card base also increased by 14% to 618 million cards in circulation at the end of the third quarter.

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MDC Update

MDC Communications Corporation today announced its financial results for the fourth quarter and year ended December 31, 1997, reporting continuing growth in both sales and profitability from continuing operations. For the year, sales from continuing operations were $280.0 million, an increase of $121.8 million or 77 percent over the $158.2 million achieved in 1996. Operating income was $35.6 million, up $13.4 million or 60 percent over the $22.2 million recorded in 1996. Net income from continuing operations reached $7.8 million in 1997, an increase of $3.1 million or 66 percent over the $4.7 million achieved in 1996. Fully diluted earnings per share from continuing operations were $0.49, up $0.09 or 23 percent over the $0.40 reported in 1996. Fully diluted cash flow per share from continuing operations was $1.41, up from $0.99, representing a 42 percent increase over the prior year.

“We are pleased with the strength of our results from continuing operations in both Security and Specialty Products and Communications and Marketing Services, which met or exceeded our internal targets,” said Miles S. Nadal, President and Chief Executive Officer. “More importantly, we are anticipating that this earnings momentum will continue in 1998 and beyond as the impact from both recent contract awards and capital spending continue to accelerate internal growth at MDC’s operating units.”

During 1997, MDC was awarded long-term contracts valued at over $500 million for the provision of various security products and services. These contracts were across our product lines including personal and business cheques with all major Canadian financial institutions, and major postage stamp contracts with the United States Postal Service and the Royal Mail. In addition, the company expanded its direct-to-consumer cheque business in the United States through the acquisition of Image Checks in Arkansas and the pending acquisition of Artistic Checks in New York. The company also established a security card operation producing credit, debit, telephone and smart cards to complement its dominant market position in cheques in Canada, through the acquisition of Bicybec Ltee in Quebec and the acquisition of CIBC’s National Card Production Unit. Such contract awards and acquisitions are expected to further expand MDC’s payment systems business and further the growth of MDC in 1998 and beyond.

The Security and Specialty Products division achieved record sales of $195.3 million in 1997, more than doubling its 1996 sales of $93.0 million. Operating income of the Security and Specialty Products division also grew substantially in 1997, increasing from $17.0 million in 1996 to $31.0 million in 1997, an increase of 82 percent. The Communications and Marketing Services division also had record sales in 1997, posting sales of $66.8 million or 45 percent more than the $46.1 million achieved in 1996. Operating income of the Communications and Marketing Services division increased from $5.6 million in 1996 to $8.9 million in 1997, an increase of 59 percent over the prior year, strongly outpacing the rate of sales growth for the year.

In accordance with MDC’s planned divestiture of Regal Greetings and Gifts (“Regal”), the financial results of Regal have been classified as discontinued operations in the company’s 1997 and comparative period financial results. MDC reported a loss from discontinued operations of $28.6 million in 1997 compared to net earnings from discontinued operations of $2.3 million in 1996.

This loss from discontinued operations includes a previously reported $11.2 million restructuring charge taken in the first quarter of 1997. Regal’s operating loss for the year was severely impacted by the Canadian postal strike during the mail order Catalog Company’s peak Christmas selling season. In addition, a provision has been included for the estimated costs to complete the divestiture process currently underway. Despite the anticipated significant increases in profitability for the discontinued operations of Regal Greetings and Gifts in 1998, it is management’s belief that the divestiture process currently underway will result in the maximization of shareholder value.

In the fourth quarter, MDC posted sales from continuing operations of $77.8 million, up $28.6 million or 58 percent from the $49.2 million achieved in the prior year’s fourth quarter. Operating income rose 13 percent in the fourth quarter, from $8.9 million in 1996 to $10.0 million in 1997. Net income from continuing operations was $2.2 million in the fourth quarter of 1997, up 28 percent from the $1.7 million reported in 1996.

Fully diluted earnings per share from continuing operations also improved from $0.14 in 1996 to $0.15 in 1997, an increase of 7 percent over the prior year. Fully diluted cash flow per share improved by 18 percent, from $0.33 in 1996 to $0.39 per share in 1997 fourth quarter.

Sales of the Security and Specialty Products division totaled $55.0 million in the 1997 fourth quarter, up $21.7 million or 65 percent from the $33.3 million achieved in the fourth quarter of 1996. Operating income grew from $6.9 million in 1996 to $9.5 million in 1997, an increase of 38 percent. The Communications and Marketing Services division posted sales of $19.2 million in the 1997 fourth quarter, or 60 percent more than the $12.0 million achieved in 1996. Operating income increased from $1.7 million in 1996 to $2.2 million in 1997, up 29 percent.

“Now that MDC is focusing on its core Security and Specialty Products division, we are developing a consistently stable, predictable and growing company. With our new strategic plan, we are now positioned to significantly enhance shareholder value in 1998 and beyond,” said Nadal. “We are focused on executing our plan in an orderly manner and concentrating on our core businesses in order to fully unlock shareholder value and exploit the plentiful growth opportunities available to the company.”

Earlier this year, MDC announced a new strategic plan intended to focus the operation on its core Security and Specialty Products business, divest its Regal Greetings and Gifts operations, and build its Communications and Marketing Services division to critical mass. MDC will explore ways to crystallize the value of its Communications and Marketing Services division, possibly by way of an Initial Public Offering within the medium term.

The recent establishment of the Business and Technology Services Group supports the focused corporate strategy announced in January, and complements MDC’s initiatives in Security Card Products and business services of the Payment Systems Group. Now MDC is able to take advantage of the growing demand for back office services, as MDC’s corporate customers focus on their strategic competencies and outsource other areas of functional expertise.

MDC is a publicly traded international organization with operating units in Canada, the United States, the United Kingdom, and Australia. The company is a leading provider of security product solutions and marketing services to customers in over 65 countries around the world. MDC has a strong record of growth, generated both internally and from strategic corporate acquisitions.

MDC offers security product solutions in five core offerings personal and business cheques; postage and excise stamps; credit, debit, and smart cards; event and transportation tickets; and outsourcing solutions including remittance processing, data imaging, corporate payables, personalization and fulfillment, and data management.

MDC shares are traded on the Toronto Stock Exchange under the symbol MDZ.A and on the American Stock Exchange under the symbol MDQ.

MDC COMMUNICATIONS CORPORATION
CONSOLIDATED FINANCIAL SUMMARY
FOURTH QUARTER 1997 AND 1996
($,000’s – except per share amounts)

For the Year Ended December 31,    1997     1996     Change
                               —————————–

Sales                            280,020   158,211     77
                                                     Percent

Operating Income                  35,646    22,188     61
                                                     Percent

EBITDA                            32,776    20,930     57
                                                     Percent

Cash Flow from
  continuing operations          22,432     12,616    78
                                                     Percent

Income from continuing
  operations                      7,781      4,731     64
                                                     Percent

Income (loss) from
  discontinued operations     (28,618)(xx) 2,308(xx) (1340)
                                                    (Percent)

Net Income (loss)               (20,837)    7,039    (396)
                                                    (Percent)

Earnings Per Share
From Continuing Operations
  –  Basic                         0.50      0.41      22
                                                     Percent

  –  Fully Diluted                 0.49      0.40      23
                                                     Percent

As Reported
  – Basic                      (1.82)(xx)   0.61(xx) (398)
                                                    (Percent)

  – Fully Diluted              (1.82)(xx)   0.58(xx) (414)
                                                    (Percent)

Cash Flow Per Share
>From Continuing Operations
   – Basic                         1.69       1.09     55
                                                     Percent

   – Fully Diluted                 1.41       0.99     42
                                                     Percent

As Reported
  – Basic                       0.71(xx)  1.49(xx)    (52)
                                                    (Percent)

– Fully Diluted                0.67(xx)  1.34(xx)   (50)
                                                    (Percent)

Weighted average shares outstanding during the year
for earnings per share purposes

     Basic                  12,309,924  11,592,315     6
                                                     Percent

     Fully diluted          14,355,730  13,049,267    10
                                                     Percent
                              —————————–

(xx) During the fourth quarter of 1997, the Company formally
adopted a plan to divest its Regal Greetings and Gifts operations
and, as such, Regal’s results of operations have been classified
as discontinued operations in 1997 and comparative period
financial results.

MDC COMMUNICATIONS CORPORATION
CONSOLIDATED FINANCIAL SUMMARY
FOURTH QUARTER 1997 AND 1996
($,000’s – except per share amounts)

For the Three Months
  Ended December 31,            1997       1996     Change
                              —————————–

Sales                           77,796      49,223     58
                                                   Percent

Operating Income                 10,014      8,877     13
                                                   Percent

EBITDA                            9,267      8,445    10
                                                   Percent

Cash Flow from
  continuing operations          6,660       4,593     45
                                                   Percent

Income from continuing
   operations                     2,209      1,730     28
                                                   Percent

Income (loss) from
   discontinued operations (11,680)(xx) 3,723(xx)   (414)
                                                  (Percent)

Net Income (loss)                  (9,471)  5,453   (274)
                                                 (Percent)

Earnings Per Share
>From Continuing Operations
– Basic                            0.15    0.15        0
                                                  Percent

– Fully Diluted                    0.15    0.14        7
                                                  Percent

As Reported
– Basic                      (0.80)(xx)  0.47(xx)   (270)
                                                 (Percent)

– Fully Diluted              (0.80)(xx)  0.44(xx)  (282)
                                                 (Percent)

Cash Flow Per Share
>From Continuing Operations
   – Basic                         0.47       0.38     24
                                                   Percent

  – Fully Diluted                  0.39       0.33     18
                                                   Percent

As Reported
– Basic                        0.41(xx) 0.86(xx)  (52)
                                                  (Percent)

– Fully Diluted                0.38(xx) 0.75(xx)  (49)
                                                  (Percent)
                               —————————–

(xx) During the fourth quarter of 1997, the Company formally
adopted a plan to divest its Regal Greetings and Gifts operations
and, as such, Regal’s results of operations have been classified
as discontinued operations in 1997 and comparative period
financial results.

MDC COMMUNICATIONS CORPORATION
CONSOLIDATED FINANCIAL SUMMARY
FOURTH QUARTER 1997 AND 1996
($,000’s – except per share amounts)

SEGMENTED INFORMATION – BY OPERATING DIVISION

For the Three Months
  Ended December 31,                1997     1996    Change
                              —————————–

Security and Specialty Products

Sales                            54,952    33,271      65
                                                    Percent

Operating Income                  9,457     6,892      37
                                                    Percent

Communications and Marketing Services

Sales                            19,233    12,024      60
                                                    Percent

Operating Income                  2,151     1,686      28
                                                    Percent
                              —————————–

For the Year Ended December 31,    1997      1996    Change
                              —————————–

Security and Specialty Products

Sales                           195,318     93,015    110
                                                    Percent

Operating Income                31,012      17,008     82
                                                    Percent

Communications and Marketing Services

Sales                            66,763     46,067     45
                                                    Percent

Operating Income                  8,865      5,621     58
                                                    Percent
                             —————————–

CONDENSED CONSOLIDATED BALANCE SHEET

                             —————————–
As at December 31,                1997      1996    Change
                             —————————–

Cash and Short Term Investments  10,793     41,937    (74)
                                                  (Percent)

Other Current Assets            112,568     84,031     34
                                                   Percent

Other Assets                    294,148    235,967     25
                                                   Percent
                             —————————–
Total Assets                    417,509    361,935     15
                                                   Percent
                             —————————–
                             —————————–
Current Liabilities              92,668     64,075     45
                                                   Percent

Long Term Indebtedness          205,634    190,907      8
                                                   Percent

Minority Interest                 2,039      1,177     73
                                                   Percent

Shareholders’ Equity            117,168    105,776     11
                                                   Percent
                             —————————–

Total Liabilities
  and Shareholders’ Equity      417,509    361,935     15
                                                   Percent
                             —————————–
                             —————————–

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Providian’s NH Gift

Providian Financial Corporation Chairman and Chief Executive Officer Shailesh J. Mehta announced last week that Providian will earmark $250,000 for after school care programs. Providian recently committed $5 million to child care in New Hampshire.  The announcement was made at a ceremony attended by Vice President Al Gore and Education Secretary Richard Riley.

“At Providian, we care about child care,” said Shailesh J. Mehta, “I believe today’s investment will have a positive impact on the school age children, their parents and the community.”

According to recent studies, funds are clearly needed to address issues surrounding the lack of after school care.  Statistics show that while 60% of New Hampshire’s school age children need after school care, existing slots accommodate only 21% of these children.

Providian will work with the Office of New Hampshire Governor Jeanne Shaheen, the non-profit organization PlusTime NH, and other community-based organizations to determine the best use of funding for after school care. PlusTime NH works to support the development of quality, affordable and accessible out-of-school programs for school age children and youth.

Providian Financial Corporation, the parent company of Concord, New Hampshire-based Providian National Bank, is a leading provider of lending and deposit products to consumers nationwide.  The company is a member of the S&P 500 Index (Consumer Finance Industry Group).  With over $11 billion in assets under management and over five million customers, the company serves a broad, diversified market with loan products which include credit cards, revolving lines of credit, home loans, secured credit cards, and fee-based services. Providian Financial is headquartered in San Francisco, California and ranks among the fifteen largest credit card issuers in the nation and is the largest issuer of secured credit cards.

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Potential Partner

The fastest growing frequent motel guest program expanded by 700,000 members last year to surpass the 5,000,000 member mark. The ‘Super 8 V.I.P. Club’ card is signing up a new member every 45 seconds. The ‘V.I.P. Club’ card offers a 10% room discount, guaranteed reservations without a credit card, payment of room charges by check and special check cashing privileges. The economy lodging giant has 1,600 motels and 100,000 rooms in the U.S. and Canada.

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Drexler Adds Board Member

Drexler Technology Corporation is pleased to announced that Dr. Dan Maydan joined its board of directors on March 5, 1998.

Dr. Maydan has joined the Drexler board as an outside director on a personal basis unrelated to his corporate affiliations. The Drexler Technology board of directors has been increased from three members to four members.

Dr. Maydan is president and member of the board of directors of Applied Materials, Inc. (NASDAQAMAT), the world’s largest semiconductor manufacturing equipment company, with 12,000 employees. He also is co-chairman of the board of directors of Applied Komatsu Technology, a joint venture formed in September 1993 with Komatsu, Ltd. for manufacturing and marketing of systems for the flat-panel display industry.

Before joining Applied Materials, Inc. in September of 1980, Dr. Maydan spent 13 years in various positions with Bell Laboratories in New Jersey, during which time he pioneered laser recording of data on thin-metal films and made significant technical advances in photo lithography and vapor deposition technology for semiconductor manufacturing systems. Dr. Maydan received his B.S. and M.S. degrees in electrical engineering from Technion – Israel Institute of Technology and his Ph.D. in physics from Edinburgh University, Scotland.

Headquartered in Mountain View, Drexler Technology Corporation manufactures 4-megabyte LaserCard(R) optical memory cards and “microchip ready” Smart/Optical(TM) cards. Drexler has been granted about 50 U.S. patents plus foreign counterpart patents on laser recording of data on thin-metal films, on laser-recordable optical memory cards, and on related systems and equipment. The Company’s wholly owned subsidiary, LaserCard Systems Corporation, develops system software for PC-based optical memory card systems.

LaserCard(R) applications include immigration cards, cargo manifests, access control cards, healthcare records, high security/interactive ID cards, automotive records, medical image storage, portable records with audit trails, and consumer transaction systems.

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Sluggish Start

Growth in revolving credit is off by more than 50% so far this year. According to January consumer credit figures released by the Federal Reserve Friday, revolving credit is growing at an annual rate (seasonally adjusted) of 6.1% compared to 14.7% for last January. Overall consumer credit is currently growing at an annual clip of 2.8% compared to 10.0% this time last year. Loans for miscellaneous purposes such as education, boats, trailers and vacations declined for the third consecutive month. At the end of January American consumers were $1.238 trillion in debt, exclusive of home mortgages.

                                 REVOLVING CREDIT HISTORICAL
Jan 98  Dec 97   Nov 97  Oct97  Sep97  Aug97 Jul97  Jun97 May97 Apr97
%GRWTH 6.1%    2.3      -2.1    10.1   6.2    8.0   9.4    4.2 4.6   6.9
$OWED 533.5   530.8    529.8   530.7  526.4  523.7 520.2 516.2 14.3  512.4
Source Federal Reserve; revised figures as of 03/06/98

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Rodeo Drive Winner

VISA’s ‘Tribute to Style’ promotion climaxed Friday afternoon with the naming of the grand prize winner by Mr. Blackwell, renowned author of the ‘Best and Worst Dressed List’. Susan Swanson, a lawyer from Portland, OR, was awarded a $25,000 shopping spree on Rodeo Drive. The grand prize winner also received two tickets to last night’s Screen Actors Guild awards show, a VIP tour of Sony Pictures Studios and personal wardrobe consultations by Mr. Blackwell and fashion expert Patty Fox. Twenty-five first prize winners received a $5,000 Rodeo Drive shopping spree. VISA launched the promotion last September.

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Wild MasterCard

The National Hockey League’s newest expansion team, the Minnesota Wild, and First USA, launched a new MasterCard Friday night during the Minnesota State Boy’s High School Hockey Tournament. The Minnesota Wild will begin play in the NHL in the 2000-2001 season. ‘The Minnesota Wild MasterCard’ offers approved applicants a free team T-shirt. Card pricing 4.9% five-month intro APR, thereafter 13.99% fixed APR and no-annual-fee. MasterCard is the official corporate sponsor of the NHL and First USA also issues affinity cards for six other NHL teams.

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MasterCard Online Game a Hit

Multimedia Resources, an interactive media consulting and marketing agency, announced last week that an online promotion that the agency created won a bronze Reggie award at this year’s Reggie ’98 Awards competition. The award was presented here at Update ’98, a promotions marketing conference hosted by the Promotion Marketing Association (PMA). Multimedia Resources was presented a bronze award in the Interactive Promotion category for creating MasterCard’s “Future of Money” promotion on the Internet.

The objective of Multimedia Resources’ campaign for MasterCard was to begin to establish MasterCard as a leader in electronic commerce on the Web among consumers and merchants. The promotion was launched during the 4th quarter of 1997 when shopping patterns are at their peak. Multimedia Resources focused on building awareness on the Internet of MasterCard’s brand position, “The Future of Money.”

The PMA Reggie competition identifies and honors the best marketing promotion programs of the year. The competition features ten categories of awards, which are based on a broad range of promotion types and budgets.

“This award recognizes that the category of interactive promotion has become a powerful, if not indispensable, tool in today’s overall marketing landscape,” said Lynn Branigan, co-founder of Multimedia Resources. “MMR worked to incorporate all the essential elements of a winning interactive campaign into this promotion. This includes brand building, consumer communications, and a value-added service in Shop Smart! that MasterCard can expand upon over time. This award is truly a credit to the many talented people who worked so hard to make MasterCard’s promotion a success.”

This multifaceted promotion was the largest program ever endeavored by MasterCard on the Internet. The promotion consisted of four key elements

— “See the Future Now” instant win game. An online game that highlighted card benefits now and in the future, with over 2400 prizes and eight sponsors

— The Shop Smart! decal. MasterCard’s decal was placed on merchant Web sites that use the best technology available today for safeguarding online transactions

— A promotional screen called “Shopping Now? Here’s How” that built awareness for the Shop Smart! decal and Shop Smart! merchants offering special values to MasterCard holders

— Customized media partnerships, which helped build awareness of the “Shop Smart! Decal and enhance merchant relationships through the creation of MasterCard preferences programs

“The results of this promotion surpassed all our expectations,” said Branigan. “The `See the Future Now’ game was played over 280,000 times by consumers, many who had an interest in electronic commerce. The number of people who chose to learn more about `Shopping Smart’ immediately after the game validated this interest. The results of the Shop Smart! program also exceeded expectations, especially in terms of the number of merchants participating in the pilot program. The initial goal of the decal program was to have a dozen merchants sign on to participate. MasterCard’s decal ended up on over 100 merchant’s Web sites within 10 weeks of the launch. In addition, Internet users who visited mastercard.com stayed there twice as long as they did before the promotion began.”

The fourth quarter promotion built the brand by creating a leadership position on the Internet for MasterCard in a program promoting online commerce to consumers and merchants. The “See the Future Now” instant win game and the “Shop Smart!” decal worked synergistically to provide an environment that encouraged people to get involved in the new commerce trends. These programs served to establish MasterCard as the authority on the best ways to shop online today. The large number of participants, both consumers and merchants, and the time spent on the MasterCard Web site demonstrated the promotion’s success in building the brand.

MasterCard International, a payments company with one of the world’s most recognized brands, is dedicated to helping more than 23,000 financial institutions around the world offer consumers a variety of payment options. MasterCard remains focused on helping to expand acceptance of its global brands (MasterCard(R), Maestro(R), Mondex(R) and Cirrus(R), the world’s largest ATM network) and maintaining reliable, secure networks facilitating global value exchange. MasterCard has 400 million credit and debit cards that are accepted at more than 14 million merchant, cash and ATM locations worldwide. In 1996, gross dollar volume generated exceeded $550 billion. MasterCard can be reached through its World Wide Web site at .

Multimedia Resources, LLC, is an interactive consulting and marketing agency developing business opportunities in interactive media. The company, based in Larchmont, New York, has a worldwide client base of over 60 companies, represented by large corporations and Internet start-ups. Multimedia Resources’ expertise in business development, relationship building, marketing services and technology innovation has been applied to a broad array of clients in the financial services, travel, computer, media and direct marketing industries.

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S1 On Track

Security First Technologies announced Friday it now has 22 financial institutions offering secure, Internet banking services using S1’s ‘Virtual Financial Manager’. The company indicated it has 44 other financial entities offering or planning to offer Internet-based personal financial manager systems using S1’s technology. Republic National Bank of New York is the latest institution to sign a letter of intent to use S1’s ‘Virtual Financial Manager’ and ‘Virtual Credit Card Manager’.

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Web Barriers

Consumers are still wary of using credit cards on the World Wide Web. A new study released yesterday by Lycos, Inc. says 86% of the respondents said they are “extremely concerned” or “very concerned” about transmitting credit card numbers via the Internet. About 90% of women expressed concerns about credit card security. The study of 875 surfers was conducted by independent Internet researcher, Cyber Dialogue.

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Top Secret ID Cards

Eltron International Inc. , leading global designer and manufacturer of thermal-label and plastic-card printers, and 3M Verification Systems, worldwide leader in sales of labels and laminates for document and product authentication, Thursday demonstrated in New York the results of their ongoing collaboration in the development of secure identification-printing systems.

Max3000, the initial product offering in Eltron’s MaxSecure ID Printing System series, is the result of a 2-year technical collaboration with 3M.

It integrates 3M Secure Card — a unique composite material and innovative thermal fusion process that produces highly durable, tamper-resistant identification cards — with Eltron’s dye sublimation thermal transfer plastic card printing, lamination and dye cutting technologies.

Designed for either batch or on-demand printing of identification cards that require tamper-resistant security and durability, the Max3000 is a single-process, secure ID card printing system that integrates printing, lamination, rotary die-cutting and optional magnetic encoding of 3M Secure Card media with no operator intervention required.

The unique lamination/thermal fusing process seals the printed images and personalized data inside the card. Once fused, the layers cannot be separated without obvious card damage. Testing conducted under harsh, demanding conditions validate an expected 10-year life for the cards.

The new MaxSecure ID Printing systems are ideally suited for applications where maximum security and durability are paramount, including state and national personal identification, driver’s licenses, health-care identification cards, military identification, social security cards, and access control.

In a related news release dated Feb. 26, 1998, Eltron announced a contract with Viisage Technology, leading provider of biometric identification systems, wherein Viisage will integrate its software with Eltron’s Max3000 to provide a complete digital driver’s license system to the Illinois Secretary of State Driver Services Department.

ISO 9002-certified, Eltron International is the leading designer and manufacturer of thermal-label printers, plastic-card printer, and secure ID printing systems and offers the broadest line of thermal printers in the industry.

Printers include direct- and thermal-transfer bar-code-label and receipt printers, integrated verified printing systems, plastic-card printers, and secure ID printing systems.

Major users are in the health-care, retail, manufacturing, automotive, package-delivery, financial-service, security and government markets throughout the world. Eltron has corporate headquarters in Simi Valley, Calif., and additional facilities throughout the United States, Europe and the Far East. More information about Eltron is available at .

St. Paul, Minn.-based 3M is a $14 billion diversified manufacturer serving an array of commercial, industrial and consumer markets. For more information about other 3M Verification Systems products — the worldwide leader in sales of labels and laminates for document and product authentication — call 800/689-7757. In Canada, call 800/3M-HELPS.

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