AT&S Announces Continuation of Share Repurchase Program

This news was first published on http://www.pcb007.com.

Citing a resolution passed by its general meeting in July 2002 that authorized the company's Management Board to buy back up to 10% of the issued share capital (or 2.8 million shares, respectively) of Austria Technologie & Systemtechnik AG (AT&S) during a period of 18 months (beginning on the day the resolution was passed), the Austria-based PCB manufacturer announced this week that its Management Board has decided to make use of this authorization. AT&S said it now will continue the share repurchase program from February 25, 2003 to January 5, 2004.

Shares repurchased are to be used primarily to fulfill the company's long-term employee incentive plan (stock option plan) or in the context of future acquisitions, said AT&S. Purchases will be made from time to time at the company's discretion and subject to market conditions, and may be commenced or suspended without prior notice, the company noted. Until December 31, 2002 a total of 2,141,900 shares or 7.65% of the issued share capital has been repurchased already, said AT&S.