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Basking Ridge, NJ, June 1, 2000 - Hooper Holmes, Inc. (AMEX:HH)announced today that its Board of Directors has authorized therepurchase of up to 2.5 million shares of the Company's common stockduring this calendar year. The Company currently has 66.2 millionshares outstanding. The stock repurchases under this program will bemade in the open market at the discretion of the Company's management. The timing and amounts of any stock repurchases will depend on many factors, including the market price of the common stock and overall market conditions. Repurchased shares will be used to support employee incentive compensation programs and for other corporation purposes.
Jim McNamee, Chairman, President, and Chief Executive Officer,stated, "At current price levels, management and the Board ofDirectors believe the repurchase of Hooper Holmes common stockprovides our shareholders with a significant value over the long termand represents an excellent investment opportunity for the Company.We remain confident in the underlying strengths of the Company andits growth opportunities."
Hooper Holmes, Inc. provides health information services oninsurance policy applicants to the life insurance industry. TheCompany provides these health information services through over 300locations nationwide.
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CONTACT:
Fred Lash
Chief Financial Officer
908/766-5000
Investors: Theresa Schillero
Media: Stacey Nield
Morgen-Walke Associates
212/850-5600
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