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QUAKER ANNOUNCES THREE MILLION SHARE STOCK REPURCHASE PROGRAM

 CHICAGO, Jan. 21 /PRNewswire/ -- The Quaker Oats Company (NYSE: OAT) announced today that its board of directors has authorized the repurchase of up to three million shares of the company's common stock. The Quaker shares will be repurchased, from time to time, through open market purchases and privately negotiated transactions. Quaker has approximately 72 million shares outstanding.
 William D. Smithburg, chairman and chief executive officer, said, "Strong cash flows and favorable invested capital trends have enabled us to complete ahead of schedule a two million share repurchase program authorized in March 1992. Since we anticipate the improved investment capital trends to continue for some time, as a result of our supply chain initiatives and controllable earnings practices, we are confident that the three million share repurchase program can be achieved within the bounds of the company's financial ratio targets."
 Since 1985, Quaker has repurchased 17 million shares through five stock repurchase programs.
 -0- 1/21/93
 /CONTACT: Ronald G. Bottrell, director media relations of Quaker Oats Company, 312-222-7388/
 (OAT)


CO: Quaker Oats Company ST: Illinois IN: FOD SU:

SM -- NY015 -- 7261 01/21/93 09:21 EST
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Publication:PR Newswire
Date:Jan 21, 1993
Words:187
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