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INTELLIGENT ELECTRONICS REPURCHASES 1.5 MILLION SHARES

 EXTON, Pa., March 10 /PRNewswire/ -- Intelligent Electronics, Inc. (NASDAQ-NMS: INEL) today announced that as of market close yesterday it had repurchased approximately 1.5 million of its common shares in open market transactions.
 Last December, the company announced that its board of directors had authorized the repurchase of up to 2 million shares of its common stock. The company said the repurchases were made from time to time in open market transactions. As of March 5, the company had 35.5 million shares of common stock outstanding.
 Richard D. Sanford, Intelligent's chairman and CEO, said, "The repurchase is a strong a vote of confidence from the company's board of directors. With $275 million in cash received from the sale of BizMart, double digit sales growth in our business during the past two quarters, and no long-term debt, the board recognizes this company as a solid financial investment."
 The company is considering using portions of the proceeds from the sale of BizMart in one or more of the following ways: To repurchase shares of its common stock; to repay existing indebtedness; to pay a dividend to shareholders; to fund working capital and capital expenditure requirements; and to finance new business opportunities.
 Intelligent Electronics, the nation's leading delivery system of technology products and services, operates two divisions: The Reseller Network Division (RND) and InteLogistics. The Reseller Network Division is composed of systems specialists in more than 900 communities throughout all 50 states of the nation. RND's network provides technology solutions to education, government, and large and mid-sized businesses. InteLogistics provides intra-company and third party logistics and customer fulfillment services.
 /delval/
 -0- 3/10/93
 /CONTACT: Patrice W. Johnson, vp-Corporate Communications & Marketing, 215-458-6706, or Bob Yablunsky, director of Investor Relations, 215-458-6668, both of Intelligent Electronics/
 (INEL)


CO: Intelligent Electronics, Inc. ST: Pennsylvania IN: REA SU:

CC -- PH033 -- 4881 03/10/93 18:40 EST
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Publication:PR Newswire
Date:Mar 10, 1993
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