EXHIBIT 99.1



                                               FOR IMMEDIATE RELEASE



       SAFEGUARD SCIENTIFICS SELLS PIONEER METAL FINISHING
              DIVISION TO CURRENT MANAGEMENT GROUP 

Wayne, PA, and Green Bay, WI, October 1, 1997 - Safeguard
Scientifics, Inc. (NYSE:SFE), the New York Stock Exchange listed
strategic information systems company and Pioneer Metal Finishing
Corporation, are pleased to announce the completion of the purchase
of the Pioneer Metal Finishing Division by the current management
group at Pioneer.  This team is led by CEO and President, Richard
L. Dudkiewicz and includes Vice-President/General Manager - Green
Bay Division, Susan M. Stary; Vice-President/General Manager -
Minneapolis Division, Matthew J. Effertz; Vice-President Marketing
and Technical Development, Kurt R. Voss; and Division Manager -
Monroe Division, Scott Turner.  The total purchase price is $37
million in cash, subordinated notes, and assumed obligations with
financing provided by Bank One, Wisconsin. 

Richard Dudkiewicz commented, "Safeguard has demonstrated its true
partnership philosophy by offering this unique opportunity to our
management group.  We believe that this acquisition ensures
continued stability for our employees, customers and suppliers into
the 21st century."  PMFC specializes in anodizing of aluminum parts
and electroless nickel plating parts of various metal alloys for
computer, automotive, cookware, electronic components and other
applications.  PMFC currently employs in excess of 500 people, and
has sales of over $33 million at its three divisions located in
Green Bay, Wisconsin; Minneapolis, Minnesota; and Monroe, Michigan.

Safeguard acquired Pioneer in 1968 and participated in its
emergence as an industry leader.  "We are very pleased with our
association with Pioneer throughout the years.  This arrangement,
in keeping with Safeguard's strategy of focusing on the information
systems arena, represents a win for all parties involved.  I want
to congratulate all the employees at PMFC for achieving their
status as a leader in the metal finishing industry and wish them
continued success," said Pete Musser, Chairman and CEO of Safeguard
Scientifics. 



Safeguard is a unique partnership of entrepreneurial companies
focused on information technology markets.  Safeguard has a proven
track record of bringing emerging companies to market through
rights offerings to Safeguard shareholders.  Past rights offerings
include Novell, Inc., CompuCom Systems, Inc., Cambridge Technology
Partners (Massachusetts), Inc., Coherent Communications Systems
Corporation, USDATA Corporation, Integrated Systems Consulting
Group, Inc., Sanchez Computer Associates, Inc., Diamond Technology
Partners Incorporated  and, most recently, ChromaVision Medical
Systems, Inc.

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