EXHIBIT 23.5


CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


As independent public accountants, we hereby consent to the incorporation of 
our report dated February 5, 1999 included in Sanchez Computer Associates, 
Inc.'s Form 10-K for the year ended December 31, 1998 and included in this 
Form 10-K of Safeguard Scientifics, Inc., into Safeguard Scientific, Inc.'s 
previously filed Form S-8 Registration Statements File Nos. 33-41853, 
33-48579, 33-48462, 2-72362, 33-72559 and 33-72560.

/s/ Arthur Andersen LLP


Philadelphia, Pa.,
  March 29, 1999



REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS

To Sanchez Computer Associates, Inc.:

We have audited the consolidated balance sheet, which is not presented 
herein, of Sanchez Computer Associates, Inc. (a Pennsylvania corporation) and 
subsidiaries as of December 31, 1998, and the related consolidated statements 
of operations, shareholders' equity and cash flows for the year then ended, 
which are also not presented herein. These financial statements are the 
responsibility of the Company's management. Our responsibility is to express 
an opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally accepted auditing 
standards. Those standards require that we plan and perform the audit to 
obtain reasonable assurance about whether the financial statements are free 
of material misstatement. An audit includes examining, on a test basis, 
evidence supporting the amounts and disclosures in the financial statements. 
An audit also includes assessing the accounting principles used and 
significant estimates made by management, as well as evaluating the overall 
financial statement presentation. We believe that our audit provides a 
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in 
all material respects, the financial position of Sanchez Computer Associates, 
Inc. and subsidiaries as of December 31, 1998, and the results of their 
operations and their cash flows for the year then ended in conformity with 
generally accepted accounting principles.

/s/ Arthur Andersen LLP

Philadelphia, Pennsylvania
 February 5, 1999