Tellabs Announces New $300 Million Share Repurchase Program

The Tellabs Board of Directors authorized a new share repurchase program of up to $300 million of the company's outstanding common stock (about 7% of shares at Friday's closing price). The new authorization follows Tellabs' completion of a $300 million share buyback program announced on February 2, 2005. The new share repurchase program will involve the purchase of common shares from time to time at the prevailing market price.

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