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Network Appliance Announces Stock Repurchase

Posted on: Wednesday, 15 November 2006, 18:00 CST

Network Appliance, Inc. (NASDAQ:NTAP), a leader in advanced networked storage solutions, today announced that its Board of Directors has approved a new stock repurchase program in which up to $800,000,000 of shares of its outstanding common stock may be purchased. This approval is in addition to approximately $41,000,000 remaining from all prior authorizations. Under the program, Network Appliance, Inc. can purchase shares of common stock through open market and privately negotiated transactions at prices deemed appropriate by management. The timing and amount of repurchase transactions under this program will depend on market conditions, corporate considerations and regulatory requirements. The purchases will be funded from available working capital. As of October 27, 2006, Network Appliance, Inc. had approximately 371,500,000 shares of common stock outstanding.

About Network Appliance

Network Appliance is a world leader in unified storage solutions for today's data-intensive enterprise. Since its inception in 1992, Network Appliance has delivered technology, product, and partner firsts that simplify data management. Information about Network Appliance solutions and services is available at www.netapp.com.

Network Appliance is a trademark of Network Appliance, Inc. in the U.S. and other countries. All other brands or products are trademarks or registered trademarks of their respective holders and should be treated as such.

Source: Business Wire

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