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CA Executes $500 Million Accelerated Share Repurchase


WEBWIRE

ISLANDIA, N.Y.- CA Inc. (NYSE: CA), one of the world’s largest management software companies, today announced it has repurchased approximately 16.9 million common shares, or 3 percent of its outstanding common shares, at a cost of about $435 million.

The repurchase was executed under an accelerated share repurchase (ASR) agreement with a third-party financial institution and was funded with existing cash. The Company is authorized to repurchase up to $500 million in common shares under the ASR agreement. The ASR is part of the Company’s previously announced $2 billion share repurchase plan.

The ASR provides CA with immediate delivery of the common shares. The third-party financial institution is expected to purchase an equivalent number of common shares in the open market during the term of agreement. The initial price of the accelerated share repurchase is subject to an adjustment based on the volume weighted average price of CA’s common shares during this period. As a result, the Company may receive additional common shares at the termination of the program. The program is expected to terminate on or before December 6, 2007. The Company does not plan to make additional share repurchases during this period.



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