Actel Corporation Announces Stock Repurchase Program.SUNNYVALE, Calif.--(BUSINESS WIRE)--Sept. 1, 1998--Actel Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ACTL ACTL American College of Trial Lawyers (Irvine, California) ACTL Access Carrier Terminal Location ACTL Activation Library ACTL Automated Compatibility Test Laboratory ACTL Association Cultural Turkey-Luxembourg ) announced today that its Board of Directors has approved plans to begin a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program. Under the program, up to one million shares of Actel's common stock may be purchased from time to time in the open market at the discretion of management. As of Aug. 31, 1998, the Company had approximately 21.6 million common shares outstanding. John C. East, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Actel Corporation stated that the company's decision was made in view of the prices at which the common stock has recently traded. He also said that the company has no specific plans for the shares that may be repurchased. About Actel Actel is dedicated to providing logic designers with the capability and confidence to successfully move up to higher complexity designs. The company is the world's leading supplier of antifuse-based field programmable gate arrays See FPGA. (FPGAs) and associated software development tools. FPGAs are used by designers of communications, computer, medical, military/aerospace, industrial control, and other electronic systems to differentiate their products and get them to market faster. Actel is traded on the Nasdaq National Market under the symbol ACTL and is located at 955 East Arques Avenue, Sunnyvale, Calif., 94086-4533. Telephone: 408/739-1010. Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the : http://www.actel.com. Note to Editors: The Actel name and logo are registered trademarks of Actel Corporation.
CONTACT: Actel Corporation
Hank Perret (analysts)/Clive Jones (media), 408/739-1010
clive.jones@actel.com
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