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Technology Stocks : KEMET Corp.

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To: techtonicbull who wrote (517)	8/16/2000 9:45:34 AM
From: BWAC	Read Replies (2) of 906

GREENVILLE, S.C., Aug 16, 2000 /PRNewswire via COMTEX/ -- KEMET Corporation (NYSE: KEM) announced today that its Board of Directors has authorized the repurchase of up to 4.0 million shares of its common stock from time to time in the open market. "The outlook for the electronics industry is the best we have seen in 40 years," said Chairman and Chief Executive Officer David E. Maguire. "We believe the broad-based demand that we are currently experiencing from all market sectors, particularly the Internet and broadband communications infrastructure, could result in one of the longest growth periods in our history. However, we feel that the current market price of our stock undervalues both the current and long-term earnings potential of the Company and presents an attractive investment opportunity for both the Company and its shareholders. In addition, any repurchases under this program will benefit shareholders by offsetting the dilutive impact of the exercise of currently outstanding stock options." The amount and timing of any repurchases will depend on market conditions and other factors. The repurchases will be funded from existing cash.

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