Romanel, Switzerland/Fremont, CA - February 24, 2003 -- Logitech International (Switzerland:LOGN) (NASDAQ:LOGI), today announced that its Board of Directors has authorized the repurchase of up to CHF 75 million (approximately $55 million) of the company's registered shares on the Swiss Exchange (SWX) over the next twelve months.
This repurchase program follows the successful completion of a similar program approved by Logitech's Board in July 2002. Under that program, completed in February 2003, the company repurchased 1,509,332 shares for approximately CHF 75 million ($52 million). The two programs combined represent a total repurchase authorization of CHF 150 million (approximately $107 million).
The company will provide bi-weekly updates on the shares repurchased under this program on the investor relations section of its website at www.logitech.com.
About Logitech
Founded in 1981, Logitech designs, manufactures and markets personal interface products that enable people to effectively work, play, and communicate in the digital world. With corporate headquarters through its U.S. subsidiary in Fremont, California, and regional headquarters through local subsidiaries in Switzerland, Taiwan and Hong Kong, Logitech International is a Swiss public company traded in Switzerland on the Swiss Stock Exchange (LOGN) and in the U.S. on the Nasdaq National Market System (LOGI). The company has manufacturing facilities in Asia and offices in major cities in North America, Europe and Asia Pacific.
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