Lowe’s to Buy Back Added $1B in Stock

Mooresville, NC, February 2, 2006–Home improvement retailer Lowe’s Cos. said Wednesday its board has approved an increase in its current share repurchase program of up to $1 billion.

As of Feb. 1, $226 million remained under the previous share repurchase authorization, bringing the total capacity to up to $1.23 billion through fiscal 2007.

The chain, which operates more than 1,200 stores nationwide, has about 781.9 million shares outstanding.