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ST. JUDE MEDICAL ANNOUNCES CONTINUATION OF STOCK REPURCHASE PROGRAM

 ST. PAUL, Minn., April 14 /PRNewswire/ -- St. Jude Medical, Inc. (NASDAQ/NMS: STJM) today announced the continuation of its stock repurchase program which its board of directors had previously authorized. Under the program, the Company is authorized to purchase up to 5 percent of its outstanding common stock, or approximately 2.4 million shares.
 While there appears to be widespread support for the need for health care reform, the investment community has expressed its concern that various reform proposals could have a negative impact on health care companies. This concern has created volatility in the health care market sector recently and has resulted in depressed stock prices.
 Ronald A. Matricaria, St. Jude Medical's president and chief executive officer, said "While we support the need for health care reform, anticipation of the Clinton Administration's reform proposals, coupled with the prospect of an increasingly competitive heart valve market, has resulted in a depression of our stock price in the current market. At current levels, we feel our stock is significantly undervalued and our decision to continue to move forward with our share repurchase program at this time reflects that belief."
 Matricaria went on to say "The continuing repurchase program will in no way diminish our efforts to continue to grow our core business and to diversify our Company. We are strongly committed to growing St. Jude Medical into a more broadly based medical products company."
 St. Jude Medical, Inc., a multi-national manufacturer and marketer of the world's most preferred mechanical heart valve with over 450,000 implantations since 1977, serves physicians worldwide with the highest quality products for cardiovascular care.
 -0- 4/14/93
 /CONTACT: Paul Vetter, assistant treasurer, 612-481-7791; or Steve Wilson, V.P. finance and CFO, 612-481-7542, both of St. Jude Medical/
 (STJM)


CO: St. Jude Medical, Inc. ST: Minnesota IN: MTC SU:

KH -- MN017 -- 5793 04/14/93 14:12 EDT
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Publication:PR Newswire
Date:Apr 14, 1993
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