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EFI Announces $100 Million Share Repurchase Program

Friday, February 20, 2009

Press release from the issuing company

FOSTER CITY, Calif.-- Electronics For Imaging, Inc., the world leader in customer-focused digital printing, announced today that its Board of Directors has approved a $100 million share repurchase program, including a $30 million accelerated share repurchase (the “ASR”), utilizing a portion of proceeds from the recently announced sale of the Company’s real estate in Foster City.

The new share repurchase authorization replaces the previously approved share repurchase program, including a remaining amount of approximately $33 million that was available for repurchases under such program.

The Company also announced that it entered into an agreement (the “ASR Agreement”) with UBS AG, London Branch (“UBS”) to repurchase $30 million of its common stock under the ASR. The final number of shares to be repurchased under the ASR will be determined based on market prices of the Company’s common stock during the term of the ASR Agreement. As a result of entering into the ASR, the Company expects that, during the term of the ASR, UBS will be purchasing the Company’s common stock in the market. The Company expects to complete the repurchases under the ASR in the second or third quarter of 2009, with the final completion date subject to the discretion of UBS. The repurchased shares will be held as treasury stock.

“We are very pleased to deliver on our commitment to monetize our real estate assets, which was a key element of our strategy to restore shareholder value,” said Guy Gecht, CEO of EFI. “With the real estate deal completed we are moving forward in returning cash to our shareholders with this new share repurchase program.”




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