Gulfstream Aerospace GAC Message Board

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Non-Tech : Gulfstream Aerospace GAC

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To: Creighton C. Smith who wrote (181)	3/2/1999 1:14:00 AM
From: Carmine Cammarosano	Read Replies (1) of 197

SAVANNAH, Ga.--(BUSINESS WIRE)--March 1, 1999--Gulfstream Aerospace Corporation (NYSE: GAC) today announced that it has established a program to repurchase up to $200 million of its common stock. The purchases will be made from time to time in the open market or through negotiated transactions as market conditions warrant. The Company expects to fund the stock purchases from cash on hand and its existing bank facility. "This new repurchase program reflects our continued strong confidence in Gulfstream's current performance and future growth prospects," said Theodore J. Forstmann, Chairman and Chief Executive Officer of Gulfstream. "Given the Company's strong financial position and large backlog, we believe repurchasing stock at current prices will increase shareholder value."

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