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TELEMATICS INTERNATIONAL TO INITIATE APPROXIMATE 6 PERCENT SHARE REPURCHASE

 TELEMATICS INTERNATIONAL TO INITIATE APPROXIMATE
 6 PERCENT SHARE REPURCHASE
 FORT LAUDERDALE, Fla., Aug. 4 /PRNewswire/ -- Telematics International, Inc. (NASDAQ: TMAX), announced today that its board of directors has authorized the company to purchase up to 1 million shares of its common stock through open market purchases or negotiated transactions. The repurchase would represent approximately 6 percent of the outstanding shares of the company's common stock.
 "We believe that Telematics' shares are undervalued at current levels," said William A. Hightower, president and chief executive officer. "In light of the company's cash position and the recent stock price levels, we believe a timely purchase of the company's shares is both appropriate and in the best interest of Telematics' shareholders. This decision underscores management's confidence in the future of Telematics."
 Founded in 1982, Telematics designs, manufactures, sells and supports a complete line of wide area networking products designed for voice and data communications applications and networks worldwide. The company's products include a full range of programmable packet switching systems, access communications processors, T1/E1 networking multiplexers and Frame Relay switches. Telematics has approximately 360 employees worldwide. Headquartered in Fort Lauderdale, Fla., Telematics also has facilities in five domestic locations and Basingstoke, England; Paris; and Frankfurt, Germany.
 -0- 8/4/92
 /CONTACT: Miriam K. Frazer, chief financial officer and corporate secretary of Telematics International, 305-772-3070/
 (TMAX) CO: Telematics International, Inc. ST: Florida IN: CPR SU:


AW-JB -- FL010 -- 6785 08/04/92 16:04 EDT
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Publication:PR Newswire
Date:Aug 4, 1992
Words:240
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