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To: Rabbi who wrote (49046)	1/28/1999 8:22:00 PM
From: kendall harmon	Respond to of 119973

ASF also will bounce in the morning. Buyback announced right near the close. Thursday January 28, 3:58 pm Eastern Time Company Press Release SOURCE: Administaff, Inc. Administaff Directors Approve Stock Repurchase of Up to One Million Shares HOUSTON, Jan. 28 /PRNewswire/ -- Administaff, Inc. (NYSE: ASF - news), a leading Professional Employer Organization (PEO), today announced that the Board of Directors has authorized a program to repurchase up to one million shares of the company's outstanding common stock. The purchases are to be made from time to time in the open market or directly from shareholders at prevailing market prices based upon market conditions and other factors. As of December 31, 1998, the company had over $70 million in cash, cash equivalents and marketable securities, and no long-term debt. Richard G. Rawson, executive vice president and chief financial officer, said, ''We are pleased that the Board has chosen to support a share repurchase program which affirms Administaff's strong financial position and our belief that our shares are significantly undervalued relative to our business model and long-term growth prospects.'' Administaff is one of the nation's leading Professional Employer Organizations, providing small- to medium-sized businesses with a comprehensive Personnel Management System that includes benefits and payroll administration, medical and workers' compensation insurance programs, personnel records management, employer liability management, employee recruiting and selection, performance management, and training and development services. The company currently has 23 offices in 14 major markets and serves clients and worksite employees throughout the United States.