Applebee’s International, Inc. (Nasdaq:APPB) announced today that the company’s board of directors has authorized an additional program to repurchase up to $25 million of the company’s common stock, subject to market conditions. This is in addition to a $32.5 million program announced in December 1999, of which 632,000 shares have been repurchased at an aggregate cost of $16.0 million through August 4, 2000.
Applebee’s International, Inc., headquartered in Overland Park, Kan., currently develops, franchises and operates restaurants under the Applebee’s Neighborhood Grill and Bar brand, the largest casual dining concept in the world. There are currently 1,229 Applebee’s Restaurants operating system-wide in 49 states and eight international countries. Additional information on Applebee’s International can be found at the company’s websitewww.applebees.com