State College, PA--December 27, 1996--C-COR Electronics Inc. has announced today a stock repurchase program. The program, approved by C-COR's Board of Directors, allows the company to repurchase up to 500,000 shares of C-COR common stock. The shares may be purchased from time to time in the open market through block or privately negotiated transactions, or otherwise. C-COR intends to use the capital resources currently available to fund the purchases.
C-COR has approximately 9.6 million shares of common stock outstanding. The repurchased stock is expected to be held by the company as treasury stock to be used to meet the company's obligations under its present and future stock option plans and for other corporate purposes.
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