Safeguard Scientifics Renews Share Repurchase Program

Safeguard Scientifics, Inc. (NYSE: SFE) today announced that its Board of Directors has renewed its prior authorization of a share repurchase program.

Safeguard's Board of Directors has reauthorized the Company, from time to time and depending on market conditions, to repurchase shares of its outstanding common stock, with up to an aggregate value of $10 million. These repurchases will be made in open market or privately negotiated transactions in compliance with Securities and Exchange Commission and other applicable legal requirements. The manner, timing and amount of any purchases will be determined by Safeguard based upon an evaluation of market conditions, stock price and other factors. The Board's authorization does not obligate Safeguard to acquire any particular amount of common stock; may be modified or suspended at any time at Safeguard's discretion; and replaces any prior repurchase authorization.

Stephen T. Zarrilli, Senior Vice President and Chief Financial Officer of Safeguard said, “In May 2008, our board approved a share repurchase of up to $10 million, pursuant to which Safeguard repurchased an aggregate of 163,000 shares for the aggregate amount of $1.3 million. Since those share repurchases were undertaken we also have repurchased approximately $81.6 million in face value of convertible debt. Safeguard's debt to equity ratio has moved from 1:1 at March 31, 2008 to 1:8. The reauthorization of this share repurchase program provides management with the flexibility to consider share repurchases in the future. However, management still believes that multiple opportunities exist to deploy capital in new and existing partner companies capable of producing meaningful future returns.”