To: Jamey who wrote (264 ) 8/8/2000 8:52:59 AM From: Mike E. Read Replies (4) | Respond to of 428 (BSNS WIRE) Conolog Board Announces Repurchase Program to Acquire Up to 1 M Conolog Board Announces Repurchase Program to Acquire Up to 1 Million of Its Outstanding Shares Business/Technology Editors SOMERVILLE, N.J.--(BUSINESS WIRE)--Aug. 8, 2000--Conolog Corporation (NASDAQ: CNLG, CNLGW) announced today that its Board of Directors has initiated a share buyback program to purchase up to one million of its outstanding shares over 18 months in the open market. The decision to initiate the repurchase program was reached after careful analysis of the Company's current share price, corporate strategy and the Company's growth objectives. Robert Benou, Conolog's president, commented, "Over the past fiscal year, we have experienced tremendous growth in our corporate structure, capabilities, and potential for profitability, that we believe is not accurately reflected in current market conditions. Our aggressive acquisition strategy, combined with our continued commitment to product innovation, has provided us with the opportunity to introduce Conolog to an ever-increasing customer base. As previously announced we will continue to fund our acquisition program and R&D efforts for the purpose of building long-term shareholder value." Conolog Corporation provides engineering and design services, technical personnel placement, and computer maintenance services. The Company's INIVEN division manufactures a line of digital signal processing systems, including transmitters, receivers and multiplexers. Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products introduced by competitors, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. --30--jb/bos* CONTACT: National Financial Network Geoffrey Eiten, Investor Relations (781) 444-6100 ext. 13 (877) 385-0977 or Conolog Corporation Robert Benou, President (908) 722-8081 KEYWORD: NEW JERSEY INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS E-COMMERCE HARDWARE SOFTWARE TELECOMMUNICATIONS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com *** end of story ***