Board of Directors Approves
Plan to Acquire up to $200 Million
of Outstanding Common Stock
REDWOOD CITY, Calif.-October 28, 2003
- Check Point Software Technologies Ltd. (Nasdaq: CHKP),
the worldwide leader in securing the Internet, today announced that
its Board of Directors has authorized the repurchase of up to $200,000,000
of its outstanding common stock in the open market or through privately
negotiated transactions.
Under the repurchase program, share purchases may be made from
time to time depending on market conditions, share price, trading
volume and other factors. The repurchase program has no time limit
and may be suspended from time to time or discontinued. The share
repurchases will be funded from available working capital. As of
September 30, 2003, Check Point had approximately 256 million fully
diluted shares of common stock outstanding.
Safe Harbor Statement
Certain statements in this press release are forward-looking statements.
Because such statements deal with future events, they are subject
to various risks and uncertainties and actual results could differ
materially from Check Point's current expectations. Factors that
could cause or contribute to such differences include, but are not
limited to: the impact on revenues of economic and political uncertainties
and weaknesses in various regions of the world, including the commencement
or escalation of hostilities or acts of terrorism; the inclusion
of network security functionality in third-party hardware or system
software; any unforeseen developmental or technological difficulties
with regard to Check Point's products; changes in the competitive
landscape, including new competitors or the impact of competitive
pricing and products; a shift in demand for products such as Check
Point's; unknown factors affecting third parties with which Check
Point has formed business alliances; timely availability and customer
acceptance of Check Point's new and existing products, and other
factors and risks discussed in Check Point's Report on Form 20-F
for the year ended December 31, 2002, which is on file with the
Securities and Exchange Commission. Check Point assumes no obligation
to update information concerning its expectations.
About Check Point Software Technologies
Check Point Software Technologies is the worldwide leader in securing
the Internet. It is the confirmed market leader of both the worldwide
VPN and firewall markets. Through its Next Generation product line,
the company delivers a broad range of Perimeter, Internal and Web
security solutions that protect business communications and resources
for corporate networks and applications, remote employees, branch
offices and partner extranets. Extending the power of the Check
Point solution is its Open Platform for Security (OPSEC), the industry's
framework and alliance for integration and interoperability with
"best-of-breed" solutions from over 350 leading companies.
Check Point solutions are sold, integrated and serviced by a network
of 1,900 Check Point partners in 86 countries. For more information,
please call us at (800) 429-4391 or (650) 628-2000, or visit us
on the Web at http://www.checkpoint.com
or at http://www.opsec.com.
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NOTE: Network Associates, McAfee, AVERT,
Sniffer, VirusScan and Magic Solutions are either registered trademarks
or trademarks of Network Associates, Inc. and/or its affiliates
in the United States and/or other countries. All other registered
and unregistered trademarks herein are the sole property of their
respective owners. *2003 Networks Associates Technology, Inc. All
Rights Reserved.
© 2003 Check Point Software Technologies
Ltd. All rights reserved.
Check Point, the Check Point logo, Application Intelligence, Check
Point Express, Cluster XL, ConnectControl, FireWall-1, FireWall-1
GX, FireWall-1 SecureServer, FireWall-1 SmallOffice, FireWall-1
VSX, FireWall-1 XL, FloodGate-1, INSPECT, INSPECT XL, IQ Engine,
Meta IP, MultiGate, Open Security Extension, OPSEC, Provider-1,
SecureKnowledge, SecureXL, SiteManager-1, SmartCenter, SmartCenter
Pro, SmartDashboard, SmartDefense, SmartLSM, SmartMap, SmartView,
SmartView Monitor, SmartView Reporter, SmartView Status, SmartView
Tracker, SVN, UAM, User-to-Address Mapping, UserAuthority, VPN-1
Accelerator Card, VPN-1 Net, VPN-1 Pro, VPN-1 SecureClient, VPN-1
SecuRemote, VPN-1 SecureServer and VPN-1 VSX are trademarks, service
marks, or registered trademarks of Check Point Software Technologies
Ltd. or its affiliates. All other product names mentioned herein
are trademarks or registered trademarks of their respective owners.
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