HERNDON, Va. - Oct. 4, 2002 - ePlus, inc. (Nasdaq:PLUS - News) announced today that its board of directors has authorized the repurchase from time to time of up to 3,000,000 shares of its outstanding common stock to a cumulative maximum of $7,500,000 over a period ending no later than October 3, 2003. The purchases may be made in the open market or in privately negotiated transactions, subject to availability, at prices deemed appropriate by management. The repurchased shares will have the status of treasury shares and may be used, when needed, for general corporate purposes. ePlus had approximately 10.1 million shares of common stock outstanding as of Thursday, October 3, 2002.
About ePlus inc.
A leading provider of Enterprise Cost Management, ePlus provides a comprehensive solution to reduce the costs of purchasing, owning, and financing goods and services. ePlus Enterprise Cost Management (eECM) packages business process outsourcing,eProcurement, asset management, supplier enablement, strategic sourcing, and financial services into a single integrated solution, all based on ePlus' leading business application software. Profitable since inception in 1990, the company is headquartered in Herndon, VA and has more than 30 locations in the U.S. For more information, visit our website at www.eplus.com, call 800-827-5711 or email to info@eplus.com.
ePlus(TM), ePlusSuite(TM), Procure+(TM) , Manage+(TM) , Service+(TM), and MarketBuilder(TM) are trademarks of ePlus Inc. ePlus Enterprise Cost Management, eECM, Pay+ and ePlus Leasing are trademarks applied for of ePlus Inc. Finance+(SM) is a registered service mark of ePlus inc. ePlus Content Framework(SM) is a service mark applied for of ePlus. Other marks referenced herein are property of their respective owners.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release, which are not historical facts, may be deemed to be "forward-looking statements". Actual and anticipated future results may vary due to certain risks and uncertainties, including, without limitation, general economic conditions; the possibility of defects in our products or catalog content data; our ability to hire and retain sufficient personnel; our ability to protect our intellectual property; the creditworthiness of our customers; our ability to raise capital and obtain non-recourse financing for our transactions; our ability to realize our investment in leased equipment; our ability to reserve adequately for credit losses; fluctuations in our operating results; our reliance on our management team; and other risks or uncertainties detailed in our Securities and Exchange Commission filings.
Contacts:
Steve Mencarini, CFO
ePlus, inc.
Tel: 703-810-2596
smencarini@eplus.com
Kley Parkhurst, SVP
ePlus, inc.
Tel: 703-709-1924
kparkhurst@eplus.com
