Interfoods of America Inc. (OTCBB:IFDA) announced Monday that it will, from time to time, purchase in the open market, subject to market conditions and price levels, up to a maximum of 10 percent of the company’s common stock, utilizing general corporate funds to effect such purchase.

The buy-back will commence on April 10, 2000 and may be discontinued at any time.

In making the announcement, the company’s CEO, Robert Berg stated, “With all the acquisitions the company has done over the last year, we believe that our stock is undervalued and that it is in the best interest of the company to proceed with a stock buy-back.”

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By GlobalData