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INT MEDIA GROUP ANNOUNCES STOCK REPURCHASE PROGRAM
(New York, NY - October 1, 2001) - INT Media Group, Incorporated (Nasdaq: INTM) today announced that its Board of Directors has unanimously authorized the expenditure of up to $1,000,000 to repurchase the company's outstanding common stock. Any purchases under INT Media Group's stock repurchase program may be made, from time-to-time, in the open market, through block trades or otherwise, at the discretion of company management. Depending on market conditions and other factors, these purchases may be commenced or suspended at any time or from time-to-time without prior notice. As of October 1, 2001, INT Media Group has approximately 25.3 million shares outstanding.
About INT Media Group
INT Media Group (Nasdaq: INTM), headquartered in Darien, CT, is a leading provider of global real-time news, information and media resources for Internet industry and information technology professionals, Web developers and experienced Internet users. INT Media Group includes the internet.com and EarthWeb Network of 160 Web sites and nearly 250 e-mail newsletters that generate 250 million page views monthly. INT Media Group events include nearly 40 offline internet.com and Intermedia Group seminars on Internet and IT-specific topics that are aligned with our Network of Web sites and e-mail newsletters. In addition, INT Media Group recently launched its CyberAtlas Research Division that publishes research reports analyzing the Internet and information technologies sectors worldwide.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release which are not historical facts are "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The potential risks and uncertainties address a variety of subjects including, for example, the competitive environment in which internet.com competes; the unpredictability of INT Media Group's future revenues (including those resulting from online advertising on INT Media Group's Network of Web sites and related Internet media properties), expenses, cash flows and stock price; INT Media Group's investments in international and venture fund investments; any material change in INT Media Group's intellectual property rights and continued growth and acceptance of the Internet and information technology. For a more detailed discussion of such risks and uncertainties, refer to INT Media Group's reports filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934. The forward-looking statements included herein are made as of the date of this press release, and INT Media Group assumes no obligation to update the forward-looking statements after the date hereof.
For more information contact:
Mary Ann Boland
Marketing and Public Relations Associate
212-547-7939
[email protected]
All current INT Media Group, Inc. press releases can be found on the World Wide Web at http://www.internet.com/corporate/press.html.