KEMET Announces Stock Repurchase Authorization

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KEMET Announces Stock Repurchase Authorization

GREENVILLE, S.C., April 30 /PRNewswire/ -- KEMET Corporation (NYSE: KEM)
announced today that its Board of Directors has authorized the repurchase of
up to 4.0 million shares of its common stock from time to time in the open
market. The amount and timing of any repurchases will depend on market
conditions and other factors. The repurchases will be funded from existing
cash. In August 2000, KEMET announced an earlier authorization to buy back up
to 4.0 million shares of stock, which has now been fulfilled through the
combination of direct purchases and outstanding put option obligations.
"The long-term outlook for the electronics industry remains very strong,"
said Chairman and Chief Executive Officer David E. Maguire. "We feel that the
current market price of our stock presents an attractive long-term investment
opportunity for both the Company and its shareholders."
KEMET Corporation, headquartered in Greenville, South Carolina, is the
largest manufacturer of solid tantalum capacitors and the fourth largest
manufacturer of multilayer ceramic capacitors in the world. KEMET's preferred
supplier strategy is to be the best capacitor supplier to the most successful
OEM, electronics manufacturing services and distribution customers. KEMET's
common stock is listed on The New York Stock Exchange under the symbol KEM.
Company information is available via the Internet at http://www.kemet.com.
This release contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 involving
risks and uncertainties discussed in detail in the Company's Securities and
Exchange Commission filings and reports, including the Company's 2000 Annual
Report to stockholders. Actual results may vary due to these or other risks
and uncertainties.
Contact: John R. Warner, Director of Investor and Public Relations of
KEMET Corporation, 864-963-6640, or e-mail, [email protected].

SOURCE KEMET Corporation
Web Site: http://www.kemet.com

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