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Star Multi Care announces stock repurchase.

HICKSVILLE, N.Y.--(BUSINESS WIRE)--Nov. 22, 1996--The board of directors of Star Multi Care Services, Inc. (NASDAQ, NM: SMCS), which provides proprietary, custodial and high-tech home health care and staffing to hospitals and other medical facilities, today announced that it had authorized the repurchase, from time to time, of up to 200,000 shares of the company's common stock on the open market or in negotiated transactions, depending on market conditions and other factors. Star Multi Care has approximately 4 million shares outstanding.

"We sincerely believe that Star's stock is undervalued and represents an attractive investment opportunity. The buyback program reflects our strong belief in Star's future prospects and our commitment to serving our shareholders well," said Stephen Sternbach, president and chief executive officer of Star.

Star Multi Care Services is a primary provider of proprietary, custodial and high-tech home healthcare services, and staffing to hospitals and other medical facilities throughout the New York metropolitan area, upstate New York, New Jersey and southeastern Florida.

CONTACT: Star Multi Care Services, Inc.

Stephen Sternbach, 516/423-6688

or

Porter, LeVay & Rose, Inc.

David Mandy, 212/564-4700
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Publication:Business Wire
Date:Nov 22, 1996
Words:184
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