TEMPE, Ariz.--(BUSINESS WIRE)--Aug. 13, 1997--Insight Enterprises Inc. ("Insight") Wednesday announced that its board of directors has approved a three-for-two stock split of the company's common stock.
The split will be effected in the form of a 50 percent stock dividend to all stockholders of record as of the close of business on Aug. 27, 1997.
The company anticipates that the new shares -- one additional share of common stock for every two shares currently held by stockholders -- will be distributed on Sept. 17, 1997. Cash will be paid in lieu of fractional shares. Upon completion of the stock split, Insight will have approximately 10.2 million shares of common stock outstanding.
Commenting on the stock split, Eric Crown, chairman and chief executive officer, said, "We are pleased that the company's continued record growth and its strong earnings performance have generated a substantial appreciation in the company's common stock share price.
"Today, Insight's common stock price is more than four times the price it was when the company went public two and one-half years ago. We believe that the additional shares outstanding, as a result of the stock split, will benefit our stockholders by helping to provide increased trading activity, liquidity and broadened ownership of the company's common stock."
Additionally, the board of directors has authorized repurchase by the company of up to 500,000 shares of its common stock. The company said it may make open market or private negotiated purchases from time to time. Any shares repurchased would be held as treasury shares, and could be used for employee benefit plans, acquisitions and other general corporate purposes.
Insight is a leading direct marketer of computers, hardware and software, offering a broad line of more than 40,000 brand name products primarily to business, government, education and home office customers. Products are sold by a staff of customer dedicated account executives and through direct marketing. For product sales, call 800-INSIGHT or visit the company on the Internet at http://www.insight.com .
CONTACT: Insight Enterprises Inc., Tempe
Stanley Laybourne, 602/350-1142
Email: laybourne@insight.com
Valerie J. Paxton, 602/350-1611
Email: vpaxton@insight.com

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