Accenture Board Authorizes Stock Repurchase
NEW YORK; Feb. 26, 2002 – Accenture (NYSE: ACN) today announced that its Board of Directors has voted to authorize the repurchase of up to an additional $100 million worth of its common stock from time to time in the open market. While the company expects to complete these purchases by the end of fiscal year 2002, the timing and amount of any such repurchases will be at the company’s discretion and will be based on market conditions and other factors.
Accenture has repurchased approximately $116 million worth of its shares of common stock since August 2001, when, as previously announced, its Board authorized periodic repurchases of stock up to $150 million. The new authorization is in addition to the $34 million remaining under the previous authorization.
The company continues to believe that its shares represent an attractive investment opportunity.
Accenture is the world’s leading management and technology services organization. Through its network of businesses approach -- in which the company enhances its consulting and outsourcing expertise through alliances, affiliated companies and other capabilities -- Accenture delivers innovations that help clients across all industries quickly realize their visions. With more than 75,000 people in 47 countries, the company generated net revenues of $11.44 billion for the fiscal year ended August 31, 2001. Its home page is www.accenture.com.
This press release contains forward-looking statements, the accuracy of which is necessarily subject to risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed under the heading "Forward-Looking Statements and Certain Factors That May Affect Our Business" in our most recent annual report on Form 10-K filed with the Securities and Exchange Commission.
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