Intel Board of Directors Approves Repurchase of an Additional 480 Million Shares of Stock

Business Wire, Nov 14, 2002

Business Editors

SANTA CLARA, Calif.--(BUSINESS WIRE)--Nov. 14, 2002

Intel Corporation today announced that its board of directors has authorized the purchase of an additional 480 million shares as part of the company's existing stock repurchase program. From the beginning of the program in 1990 through the third quarter of 2002, Intel has repurchased approximately 1.7 billion shares at a cost of approximately $29 billion.

Under previous stock repurchase authorizations, approximately 169 million shares of common stock remained available for repurchase by the company as of the end of the third quarter 2002. During the third quarter, Intel repurchased approximately 57 million shares at a cost of approximately $1 billion. In the current quarter, approximately 44 million shares have been repurchased to-date at a cost of about $725 million.

Intel, the world's largest chip maker, is also a leading manufacturer of computer, networking and communications products. Additional information about Intel is available at www.intel.com.