January 25, 2001 - National Semiconductor Corporation (NYSE: NSM) today announced a second program of open market repurchases of up to 8 million shares of common stock. This program is in addition to a current authorization, previously announced on September 22, 2000, to purchase a similar 8 million shares. As of the end of the November quarter of fiscal year 2001, National had purchased 5.5 million shares under the first program. The timing of the purchase and the exact number of shares to be purchased will depend on market conditions.
"We are taking this action to offset dilution resulting from on-going stock-based employee benefit plans, as part of our commitment to delivering superior shareholder value," said Brian L. Halla, chairman, president and chief executive officer of National Semiconductor Corporation.
National Semiconductor is the premier analog company driving the information age. Combining real-world analog and state-of-the-art digital technology, the company is focused on the fast growing markets for wireless handsets; information appliances; information infrastructure; and display, imaging and human interface technologies. With headquarters in Santa Clara, California, National reported sales of $2.1 billion for its last fiscal year and has about 10,500 employees worldwide. Additional company and product information is available on the World Wide Web at: www.national.com
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