FRANKFURT,Germany, July 24, 2001 (PRIMEZONE) -- The Executive Management Board of i:FAO Aktiengesellschaft (GER:FAO2)(WKN 622 452), has decided to make use of the authorization already given on March 6, 2001, by the general shareholder assembly, to buy back its own shares.
Using the authorization, which is valid until September 6, 2002, the company can acquire up to 540,000 of its own shares. i:FAO Aktiengesellschaft does not currently plan to completely exhaust the full amount.
The shares buy back will be made in consideration of current market conditions via the stock exchange. The amount paid by the company may not exceed or fall below the final price of i:FAO's shares on the previous trading day, in Xetra, trading at the Frankfurt Stock Exchange by 10%.
i:FAO Aktiengesellschaft underlines with the planned buy back, once more, the continuous efforts to actively increase the shareholder value and hopes that this move signals to the market that the current share price does not reflect the fair value of the enterprise.
The Executive Management Board