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Bel Authorizes Repurchase of Its Outstanding Common Shares

11 May 2000

Bel Authorizes Repurchase of Up to 10 Percent of Its Outstanding Common Shares

    JERSEY CITY, N.J.--May 10, 2000--Bel Fuse Inc. today announced that its board of directors has authorized the repurchase of up to 10 percent of the company's outstanding common shares.
    Bel may make purchases in the open market from time to time at prices and in quantities to be determined by management. There currently are approximately 10,579,000 Bel common shares outstanding.
    President Dan Bernstein said: "With our strong backlog and continued rapid growth in demand for our DSL-related products and our belMag(TM) integrated connector modules, we are confident that sales and earnings will grow in 2000.
    "Our new products for Gigabit, HomeLAN, Cable and Voice over Internet Protocol (VoIP) applications have been enthusiastically received by our customers, positioning Bel to benefit from the growth of the Internet.
    "We also are committed to and are actively pursuing additional growth opportunities through strategic combinations and/or acquisitions.
    "This stock repurchase authorization reflects the board's belief that Bel's potential is not properly reflected in the current stock price. We believe that our own stock represents one of the most attractive investment opportunities available to us as we strive to enhance shareholder value."