Stock Repurchase Ignites Adobe!
Adobe Systems Incorporated Announces New Stock
Repurchase Program
PR Newswire - April 16, 1999 09:15
SAN JOSE, Calif., April 16 /PRNewswire/ -- Adobe Systems (Nasdaq: ADBE) today
announced a new stock repurchase program, with its Board of Directors authorizing the
repurchase of up to five million shares of Adobe common stock over the next two years. The
timing and size of repurchases are subject to market conditions, stock prices and Adobe's cash
position and requirements going forward.
This new program is in addition to the Company's current repurchase program whereby the
company is authorized to repurchase shares to offset issuances under employee stock option and
stock purchase plans, which the Company plans to continue. As of April 2, 1999, the number of
outstanding shares of common stock was 61.0 million.
As Adobe implements the new stock repurchase program, it will consider several methods to
acquire the Company's stock, including direct purchases, open market purchases, the use of put
and call options, accelerated stock repurchase programs, and other potential methods.
Founded in 1982, Adobe Systems is a leading provider of graphic design, publishing, and imaging
software for Web and print production, and the second largest desktop software company in the
world with annual revenues approaching $1 billion. Adobe's worldwide headquarters is in San
Jose, California and its web site is located at www.adobe.com.
NOTE: The Adobe logo and Adobe are trademarks of Adobe Systems Incorporated. All other
trademarks are the property of their respective owners.
SOURCE Adobe Systems Incorporated
/NOTE TO EDITORS: This and all other PR related materials from Adobe
Systems can be found online in the Adobe Press Room located at
adobe.com
/CONTACT: analysts, Jim Stephens, VP Investor Relations, 408-536-4416, or
ir@adobe.com, or press, Linda White, Sr. Manager, Corporate PR, 408-536-3288,
or linwhite@adobe.com, both of Adobe Systems Incorporated/
/Web site: adobe.com
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