Tekelec Announces Stock Repurchase Program; Organizational Realignment

Tekelec Announces Stock Repurchase Program; Organizational Realignment

Tekelec (NASDAQ: TKLC), a leading developer of high-performance network applications for next-generation fixed, mobile and packet networks, today announced that its board of directors approved a stock repurchase program that authorizes the company to repurchase up to $50 million worth of the company’s common stock.

Frank Plastina, president and chief executive officer of Tekelec, stated, “After a review of Tekelec’s financial position and cash flow projections, our board concluded that a stock repurchase program is consistent with our commitment to deliver value to our shareholders.”

The repurchases will be funded from available working capital. As of June 30, 2007, Tekelec had cash, cash equivalents and short-term investments of approximately $464.8 million and as of July 30, 2007 approximately 71.3 million shares of Tekelec common stock outstanding.

Stock repurchases under the program are to be made through a Rule 10b5-1 plan. The timing, duration, and actual number of shares repurchased will depend on a variety of factors, including price, regulatory requirements, and other market conditions. The company may terminate the repurchase program at any time.