CDW Announces Increase in Share Repurchase Program.VERNON HILLS, Ill. -- CDW CDW - data warehouse 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 :CDWC CDWC Computer Discount Warehouse (stock symbol) ), a leading provider of technology products and services to business, government and education, today announced that its Board of Directors has authorized an increase of 3 million in the number of shares of the Company's common stock authorized for repurchase under the Company's share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program. The newly authorized 3 million shares are in addition to the 1,529,600 shares that remain available under the Company's current share repurchase program. The authorization of additional shares for repurchase will enable the Company to offset any potential dilutive effects from the exercise of stock options and to opportunistically repurchase shares. The share repurchases may be made from time to time in both open market and private transactions, as conditions merit. The new repurchase program is expected to remain effective through April 2007, unless earlier terminated by the Board or completed. The Company intends to hold the repurchased shares in treasury for general corporate purposes, including issuances under various employee stock option plans. Forward Looking Statement Any forward-looking statements contained in this release are based on the Company's beliefs and expectations as of the date of this release and are subject to certain risks and uncertainties which may have a significant impact on the Company's business, operating results or financial condition. Should any risk or uncertainty materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described in forward-looking statements. Factors affecting the Company's business and prospects are discussed in the Company's filings with the Securities and Exchange Commission. About CDW CDW(R) (NASDAQ:CDWC), ranked No. 347 on the FORTUNE 500, is a leading provider of technology products and services for business, government and education. CDW is a principal source of technology from top name brands such as Adobe, APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. , Apple, Cisco, HP, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Microsoft, Sony, Symantec, Toshiba and ViewSonic. CDW was founded in 1984 and today employs approximately 4,000 coworkers. In 2004, the company generated sales of $5.7 billion. CDW's direct model offers one-on-one relationships with knowledgeable account managers; purchasing by telephone, fax, the company's award-winning CDW.com web site, customized CDW@work(TM) extranets, CDWG CDWG Computer Discount Warehouse Government CDWG Collection Development Working Group CDWG Controls and Displays Working Group .com web site and macwarehouse.com web site; custom configured solutions and same day shipping; and pre- and post-sales technical support, with approximately 120 factory-trained and A+ certified technicians on staff. For more information about CDW: Visit CDW on the Internet at http://www.cdw.com. Contact CDW Investor Relations Investor relations The process by which the corporation communicates with its investors. via the Internet at investorrelations@cdw.com or by telephone at 847-419-6328. |
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