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Geneva, April 2, 2008 —STMicroelectronics (NYSE:STM) today announced that its Supervisory Board has authorized the company to repurchase up to 30 million shares of its common stock.
ST plans to repurchase shares at times and prices considered appropriate by the Company in open market or privately negotiated transactions. Repurchased shares will be held as Treasury Stock and will be used for future Employee Unvested Stock Plan program requirements. The repurchase will be funded from currently outstanding cash and cash equivalents.
About STMicroelectronics
STMicroelectronics is a global leader in developing and delivering semiconductor solutions across the spectrum of microelectronics applications. An unrivalled combination of silicon and system expertise, manufacturing strength, Intellectual Property (IP) portfolio and strategic partners positions the Company at the forefront of System-on-Chip (SoC) technology and its products play a key role in enabling today’s convergence markets. The Company’s shares are traded on the New York Stock Exchange, on Euronext Paris and on the Milan Stock Exchange. In 2007, the Company’s net revenues were $10 billion. Further information on ST can be found at
www.st.com.
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