SILVER SPRING, MD— Choice Hotels International’s board of directors has okayed the repurchase up to an additional five million shares of its outstanding common stock. Choice expects to repurchase shares from time to time in the open market and through negotiated private transactions, subject to market conditions and limitations within the companys credit facilities. Since the repurchase program was announced in June 1998, Choice has repurchased approximately 26.4 million shares. The repurchase shares will be held in treasury and may be used for general corporate purposes, including future acquisitions and the chains stock-based employee and director benefit plans. Currently Choice has approximately 37.1 million shares of common stock outstanding.
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