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Acer Inc. To To Buy Back It's Shares

Wednesday, 25 October 2000, 11:55 am
Press Release: Mediacom press release distribution

Acer Inc. To Spend US$ 31.25m (NT$1b) To Buy Back Its Shares

Media Release From Acer Inc.
----------------------------
Price for the Buy Back of Acer Inc. Shares Shall Not Exceed US$1.32 (NT$42.3)

TAIPEI, Oct. 24 /PRNewswire Asia-AsiaNet/ -- Following a meeting by the Board of Directors (BOD) today, Acer Inc. announced the company's decision to buy back its shares from the Taiwan Stock Exchange (TSE) effective from tomorrow. Acer Inc. shall spend a maximum of US$31.25M (NT$1B) to buy back the shares, with the stock price not exceeding US$1.32 (NT$42.3) following the Securities and Exchange Law.

The buy back period shall last for one month, from October 25 to November 24. Acer Inc. expects the buy back to amount to 32 million shares, although the final volume shall depend on the stock market situation.

The decision was made to encourage employee motivation, nurture our talented human resources, and in view of the company's long term developments. Upon the buy back of shares, Acer Inc. shall redistribute them amongst the employees.

The number of shares to buy back is expected to amount to 0.82% of the total number of Acer Inc. outstanding shares, and the capital spent should equal to 2.3% of the company's current assets. The transaction shall not impact Acer Inc.'s financial status and capital size.

About the Acer Group
Established in 1976, Acer is the world's third-largest PC manufacturer offering a broad range of PC products from industry-leading high-end PC servers and multimedia desktop computers, to notebooks, computer peripherals and components. Acer is also the leading internet enabler offering internet component technologies, devices and internet services. These include end-to-end solutions, mobile phones, plasma displays, TFT screens, projectors, wireless communications, and e-corp solutions.

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The Acer Group employs nearly 34,000 people in 193 enterprises spanning 42 countries worldwide, supporting dealers and distributors in over 100 countries. The Acer Group's revenues for 1999 were US$8.4 billion. For more information about the Acer Group, please visit our website at http://www.acer.com

Acer and the Acer logo are registered trademarks of Acer Incorporated. Other trademarks, registered trademarks and/or service marks are the properties of their respective owners.

Contact:
Stella T. H. Chou
Acer Corporate Communications
Stella_TH_Chou@acer.com.tw
Ginny Cheng
Acer Corporate Communications
Ginny_Cheng@acer.com.tw

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