POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS, that the undersigned hereby
constitutes and appoints each of N. Jeffrey Klauder and Deirdre
Blackburn, signing singly, as the undersigned's true and lawful
attorney-in-fact, to:

(1) execute for and on behalf of the undersigned, in the
undersigned's capacity as an officer and/or director of
Safeguard Scientifics, Inc. (the "Company"), Forms 4 and
5 in accordance with Section 16(a) of the Securities
Exchange Act of 1934 and the rules thereunder;

(2) do and perform any and all acts for and on behalf of the
undersigned which may be necessary or desirable to complete and
execute any such Form 4 or 5 and timely file such form with
the U.S. Securities and Exchange Commission and any stock
exchange or similar authority; and

(3) take any other action of any type whatsoever in connection
with the foregoing which, in the opinion of such attorney-in-fact,
may be of benefit to, in the best interest of, or legally required
by, the undersigned, it being understood that the documents
executed by such attorney-in-fact on behalf of the undersigned
pursuant to this Power of Attorney shall be in such form and
shall contain such terms and conditions as such attorney-in-fact
may approve in such attorney-in-fact's discretion.

The undersigned hereby grants to each such attorney-in-fact full
power and authority to do and perform any and every act and thing
whatsoever requisite, necessary or proper to be done in the exercise
of any of the rights and powers herein granted, as fully to all
intents and purposes as the undersigned might or could do if
personally present, with full power of substitution or revocation,
hereby ratifying and confirming all that such attorney-in-fact, or
such attorney-in-fact's substitute or substitutes, shall lawfully
do or cause to be done by virtue of this power of attorney and the
rights and powers herein granted.  The undersigned acknowledges
that the foregoing attorneys-in-fact, in serving in such capacity
at the request of the undersigned, are not assuming, nor is the
Company assuming, any of the undersigned's responsibilities to
comply with Section 16 of the Securities Exchange Act of 1934.

This Power of Attorney shall remain in full force and effect
until the undersigned is no longer required to file Forms 4
and 5 with respect to the undersigned's holdings of and
transactions in Company securities, unless earlier revoked
by the undersigned in a signed writing delivered to the foregoing
attorney-in-fact.  For all purposes, a photocopy or other
reproduction of this Power of Attorney shall be deemed to be an
original, and any person or entity shall be entitled to rely on
any such reproduction of this Power of Attorney as if it were
an original.

The undersigned has executed this Power of Attorney
this 26th day of  February, 2003.


					G. MACKENZIE
				[signature]

					G. MacKenzie
				Name [please print]
??