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NVIDIA Announces Two-For-One Stock Split and $400,000,000 Increase in Stock Repurchase Program

 
 

Product PR:

Luciano Alibrandi
Director of Product PR EMEA
Tel: +33 1 55 63 84 92
lalibrandi@nvidia.com

FOR IMMEDIATE RELEASE

NVIDIA Announces Two-For-One Stock Split and $400,000,000 Increase in Stock Repurchase Program

SANTA CLARA, CA—MARCH 6, 2006—NVIDIA Corporation (Nasdaq: NVDA) today announced that its Board of Directors has approved a two-for-one stock split of the Company’s outstanding shares of common stock to be effected in the form of a 100% stock dividend. NVIDIA also announced that its Board has approved an increase in the Company’s existing share repurchase program.

Stock Split
The stock split will entitle each stockholder of record at the close of business on Friday, March 17, 2006 to receive one additional share for every outstanding share of common stock held. The additional shares resulting from the stock split are expected to be distributed by the transfer agent on or about Thursday, April 6, 2006. Upon the completion of the stock split, NVIDIA will have approximately 360 million shares of common stock outstanding.

Stock Repurchase Program
The Company also announced a $400,000,000 increase to the original stock repurchase program it announced in August 2004. As a result of this increase, the amount of common stock the Board of Directors has authorized to be repurchased has now been increased to a total of $700,000,000, of which the Company has purchased approximately $263,000,000.

The repurchases will be made from time to time in the open market, in privately negotiated transactions, or in structured share repurchase programs, in compliance with the Securities and Exchange Commission Rule 10b-18, subject to market conditions, applicable legal requirements, and other factors. The program does not obligate NVIDIA to acquire any particular amount of common stock and the program may be suspended at any time at the Company’s discretion. The purchases will be funded from available working capital. As of January 29, 2006, NVIDIA had over $950,000,000 of cash, cash equivalents, and marketable securities.

About NVIDIA
NVIDIA Corporation is a worldwide leader in graphics and digital media processors. The Company’s products enhance the end-user experience on consumer and professional computing devices. NVIDIA graphics processing units (GPUs), media and communications processors (MCPs), and wireless media processors (WMPs) have broad market reach and are incorporated into a variety of platforms, including consumer and enterprise PCs, notebooks, workstations, PDAs, mobile phones, and video game consoles. NVIDIA is headquartered in Santa Clara, California and employs more than 2,000 people worldwide. For more information, visit the Company’s Web site at www.nvidia.in.

Certain statements in this press release including, but not limited to, statements as to our relationships with customers and partners in the film industry and the features, benefits, performance and capability of the NVIDIA Quadro FX are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Such risks and uncertainties include, but are not limited to, delays in ramping new products into production, adoption of other technologies or products by those in the film industry, manufacturing defects, incompatibility of technologies, reliance on third-party manufacturers, the impact of competitive products and pricing alternatives, n changes in the film industry standards, our dependence on third-party developers and other risks detailed from time to time in the NVIDIA reports filed with the Securities and Exchange Commission including its Form 10-Q for the quarter ended October 24, 2004. These forward-looking statements speak only as of the date hereof. NVIDIA disclaims any obligation to update these forward-looking statements.

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Copyright © 2006 NVIDIA Corporation. All rights reserved. All company and/or product names may be trade names, trademarks and/or registered trademarks of the respective owners with which they are associated. Features, pricing, availability, and specifications are subject to change without notice.

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