EarthLink
Announces Authorization of Additional $200 Million To
Repurchase Shares [May 5, 2005]
ATLANTA,
May 5, 2005 /PRNewswire-FirstCall via COMTEX/ -- EarthLink,
Inc. (ELNK), the nation's next generation Internet service
provider (ISP), today announced that its Board of Directors
has expanded its existing share repurchase program,
authorizing the purchase of an additional $200 million
of its outstanding shares of common stock.
To date, EarthLink has purchased 31.3
million shares for approximately $270.4 million under
previously approved share repurchase programs. As a
result, with this new authorization, EarthLink now has
approximately $279.6 million available to purchase common
stock.
EarthLink may conduct its purchases
in the general market, in privately negotiated transactions,
through derivative transactions and through purchases
made in accordance with Rule 10b5-1 under the Securities
Exchange Act of 1934. The repurchase program does not
require EarthLink to acquire any specific number of
shares and may be terminated at any time.
In connection with the expansion of
the share repurchase program, EarthLink also announced
today the Board of Directors has approved repurchasing
common stock pursuant to a new Rule 10b5-1 plan to become
effective following expiration of the existing Rule
10b5-1 plan.
About
EarthLink
"EarthLink.
We revolve around you(TM)." As the nation's next
generation Internet service provider, Atlanta-based
EarthLink has earned an award-winning reputation for
outstanding customer service and its suite of online
products and services. According to the J.D. Power and
Associates 2004 Internet Service Provider Residential
Customer Satisfaction Study(SM), EarthLink is ranked
highest in customer satisfaction among high-speed and
dial up Internet Service Providers. Serving over five
million subscribers, EarthLink offers what every user
should expect from their Internet experience: high-quality
connectivity, minimal online intrusions, and customizable
features. Whether it's dial-up, high-speed, web hosting,
wireless voice and data services, or "EarthLink
Extras" like home networking, security or voice
over IP, EarthLink provides the tools that best let
individuals use and enjoy the Internet on their own
terms. Learn more about EarthLink by calling (800) EARTHLINK
or visiting EarthLink's Web site at www.earthlink.net
.
SOURCE EarthLink, Inc. |