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Technology Stocks : Inter-Tel INTL Bottom Fishing
INTL 28.06+0.4%4:00 PM EST
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To: Munificent Gnome who wrote (25)2/27/1997 9:57:00 AM
From: Mike Mansour   of 156
 
INTER-TEL TO REPURCHASE 300,000 SHARES:

* INTER TEL approved a repurchase program of up to 300,000 shares
of its common stock. The company said in a statement the shares may be purchased in the open market from time to time, depending upon market conditions. Inter-Tel has about 13 million shares outstanding. "The decision was made in view of the prices at which the company's common stock has recently traded, which we believe do not reflect the true long-term value of the company," CEO Steven Mihaylo said. (Reuters 06:21 PM ET 02/25/97)
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