Affinity Technology Group Announces Expansion To Share Buyback Program.COLUMBIA, S.C.--(BUSINESS WIRE)--April 7, 1998- Program Increased from $2 Million to $4 Million Affinity Technology Group (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 :AFFI) today announced an expansion of its common stock repurchase plan stock repurchase plan 1. See buyback. 2. See self-tender. . The original plan, approved in July 1997, provided for the purchase of up to $2 million of the Company's common stock. The plan's expansion allows the Company to repurchase up to an additional $2 million of its common stock. No time limit was specified for the repurchase activity. Affinity's technology enables financial institutions to link their branches, call centers, remote service units, Internet customers and indirect agents electronically to their credit departments, providing fully-automated lending -- and, if necessary, connectivity to a loan officer -- through every channel. For financial institutions, Affinity's solutions expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. loan decisioning and processing, increase the productivity and capacity of branch personnel, call center agents, loan officers, and indirect agents, and improve the overall customer experience. Affinity is located on the World Wide Web at www.affi.net. Statements in this news release looking forward in time are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve risks and uncertainties, including general economic conditions, delays and risks associated with the development of new technologies, consumer and industry acceptance of automated delivery channels and regulatory risks. NOTE TO INVESTORS AND EDITORS : Affinity's press releases are available on the Internet through Business Wire's web site at http://www.businesswire.com. The releases are also available at no charge through Business Wire's Company News-On-Demand fax service at 800-340-7544. CONTACT: Affinity Technology Group Inc. Joe Boyle, Chief Financial Officer 803/758-2750 |
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