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To: robnhood who wrote (11284)	11/17/1998 5:25:00 PM
From: MythMan	Respond to of 86076

I saw that. Didn't check reason but I'm sure it is to cover employee benefit programs like 401K's and stock options. aka to avoid dilution.

To: robnhood who wrote (11284)	11/17/1998 5:29:00 PM
From: yard_man	Read Replies (1) \| Respond to of 86076

former

To: robnhood who wrote (11284)	11/17/1998 5:34:00 PM
From: MythMan	Respond to of 86076

as i suspected >>Tuesday November 17, 1:34 pm Eastern Time Company Press Release Chase Announces New Common Stock Repurchase Authorization NEW YORK--(BUSINESS WIRE)--Nov. 17, 1998--The Board of Directors of The Chase Manhattan Corp. (NYSE:CMB - news) has authorized the repurchase of up to $3 billion of Chase's common stock in the open market or through negotiated transactions. This authorization is in addition to any amounts necessary to provide for issuances under Chase's dividend reinvestment plan and its various stock-based director and employee benefit plans. The new authorization becomes effective Jan. 4, 1999. Chase's current authorization expires Dec. 31, 1998. ''Chase is committed to Shareholder Value Added and a disciplined capital policy is a key component of that commitment,'' said Walter V. Shipley, chairman and chief executive officer. ''While seeking to maintain strong capital ratios, we also believe that we must deliver a superior return to shareholders.'' Chase is currently targeting a long-term Tier One capital ratio of 8 to 8.25 percent. Capital generated in excess of target ratios will be used for continued purchases of Chase common stock, or for future investment and acquisition opportunities. <<