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Non-Tech : PETM - Petsmart -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (1365)	6/2/1999 9:31:00 AM
From: StormRider	Read Replies (1) \| Respond to of 1508

as a matter of fact there is... PETsMART, Inc. Announces Share Repurchase Program Business Wire - June 01, 1999 16:16 PHOENIX--(BUSINESS WIRE)--June 1, 1999--PETsMART, Inc. (Nasdaq:PETM), today announced its Board of Directors has approved the repurchase of up to an aggregate of $25,000,000 of its Common Stock. "Based on current market prices, we believe that our stock is undervalued and that the repurchase program is a good investment of available funds," said Philip L. Francis, PETsMART's President and Chief Executive Officer. The repurchases will be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market. The repurchase program is expected to continue through the end of the current fiscal year unless extended or shortened by the Board of Directors. PETsMART, Inc. is a leading worldwide operator of superstores specializing in pet food, supplies and services, and currently operates 473 stores in North America and 95 stores in the United Kingdom. The Company's common stock trades on The NASDAQ Stock Market under the ticker symbol PETM. General information about PETsMART, including corporate background and press releases, is available through PETsMART's web site at www.petsmart.com or by contacting BW NewsOnDemand at 1-888-588-PETM. "This news release contains forward-looking statements that involve substantial risks and uncertainties. Actual results and developments may therefore differ materially from those described in this release. For more information about PETsMART and risks arising when investing in PETsMART, you are directed to the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission." CONTACT: PETsMART, Inc. Neil T. Watanabe, 623/587-2019 William D. Spoehr, 623/587-2056