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Technology Stocks : 3Com Corporation (COMS) -- Ignore unavailable to you. Want to Upgrade?

To: Richard P. Roberts who wrote (31893)	6/22/1999 4:52:00 PM
From: 2MAR$	Read Replies (1) \| Respond to of 45548

BSNS WIRE) 3Com Extends Stock Repurchase Program 3Com Extends Stock Repurchase Program Business Editors SANTA CLARA, Calif.--(BUSINESS WIRE)--June 22, 1999--3Com Corporation, a global networking leader, today announced that its Board of Directors has authorized the repurchase of up to 15 million additional shares of the company's common stock. Such purchases would be made in the open market from time to time and would, in part, offset the issuance of shares for employee stock plans. This most recent authorization follows previous authorizations for 10 million shares in March 1999 and 10 million shares in June 1998. "We repurchased 10.6 million shares in our fourth quarter, bringing the total number of shares repurchased since June 1998 to 14.8 million," said Chris Paisley, senior vice president of finance and chief financial officer. "We believe this stock buy back program is an important component in our multiple efforts to increase shareholder value for 3Com stakeholders." The amount and timing of shares to be purchased will be based on several factors, including the price of the company's stock, the level of stock issuances under the company's employee stock plans and market conditions. There is no set time limit on the repurchases and, except for reissuances in connection with employee stock programs, there are no specific plans for shares that might be purchased. About 3Com Corporation With more than 200 million customers worldwide, 3Com Corporation connects more people to information in more ways than any other networking company. 3Com delivers innovative information access products and network system solutions to large, medium and small enterprises; carriers and network service providers; PC OEMs; and consumers. 3Com - More connected.(TM) For further information, visit 3Com's World Wide Web site at www.3com.com or the press site at www.3com.com/pressbox. 3Com is a registered trademark and More connected is a trademark of 3Com Corporation. --30--ik/sf* CONTACT: 3Com Investor Relations Shirley Stacy, 408/326-6301 Shirley_Stacy@3Com.com or 3Com Public Relations Leslie Davis, 408/326-7187 Leslie_Davis@3Com.com KEYWORD: CALIFORNIA INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS TELECOMMUNICATIONS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com