San Jose, CA--July 24, 1996--ISD (Information Storage Devices Inc., San Jose, CA) announced that its board of directors has authorized the purchase of up to an additional 100,000 shares of its common stock for cash in open market, negotiated or block transactions.
David L. Angel, president and chief executive officer, said that this authorization is in addition to the 1 million share repurchase program originally adopted in January 1996. ISD has repurchased a total of approximately 890,000 of its common shares to date. There currently are approximately 9.7 million ISD common shares outstanding.
Angel added that purchases under this expanded stock buy-back program will be made in amounts and at times and prices to be determined by management. No time limit has been set for completion of the program.
2040 Hamilton Ave.
San Jose, CA 95125
Fax: (408) 269-2422
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