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ST. JUDE MEDICAL AUTHORIZES STOCK BUY-BACK

 ST. JUDE MEDICAL AUTHORIZES STOCK BUY-BACK
 ST. PAUL, Minn., July 1 /PRNewswire/ -- St. Jude Medical


(NASDAQ-NMS: STJM), St. Paul, today announced that its board of directors authorized the repurchase of up to 5 percent of the company's outstanding common stock. The shares will be repurchased from time to time on the open market or in certain private transactions, depending on market conditions and subject to certain conditions and limitations. St. Jude Medical currently has 47,596,331 common shares outstanding.
 Lawrence A. Lehmkuhl, president and chief executive officer, said, "Retiring under-valued equity with relatively low yielding cash balances makes sense. We believe our stock is under-priced in the current market, and the decision to institute a repurchase program reflects that belief. We will be opportunistic in executing the program."
 Lehmkuhl continued, "The repurchase program will in no way diminish our optimism or efforts to grow our core business and to diversify our company."
 St. Jude Medical, Inc. a multinational manufacturer and marketer of the world's most preferred mechanical heart valve with over 400,000 implantations since 1977, serves physicians worldwide with the highest quality products for cardiovascular and vascular care.
 -0- 7/1/92
 /CONTACT: Steve Schuster, 612-481-7773, or Steve Wilson, 612-481-7542, both of St. Jude Medical/
 (STJM) CO: St. Jude Medical, Inc. ST: Minnesota IN: MTC SU:


AL -- MN018 -- 5937 07/01/92 17:43 EDT
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Publication:PR Newswire
Date:Jul 1, 1992
Words:227
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