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Marine Products Corp.

Up 550.3% Since Our Buy Signal, Marine Product Corporation Announces Stock Repurchased in 1st Qtr 2004

04/23/2004 A 550.3% return is what subscribers have been rewarded with after buying Marine Products when we released our buy signal for the company. On Monday the company released this update of their stock buyback program:

ATLANTA, April 19 /PRNewswire-FirstCall/ -- Marine Products Corporation (Amex: MPX - News) today announced a share repurchase for the first quarter of 2004 of 9,100 shares at an average price of $13.02. The Board of Directors approved a program authorizing the repurchase of up to one million shares on April 25, 2001. The 3-for-2 split effective March 10, 2004 makes the effective number of shares available for repurchase 1.5 million. Since the program's inception, 456,451 shares (number of shares reflects the 3-for-2 split) have been repurchased, and 1,043,549 additional shares may be purchased under this program. The program does not have an expiration date.


Marine Products is a leading manufacturer of fiberglass boats, including Chaparral pleasure boats and Robalo sport fishing boats. Marine Products Corporation's investor Web site can be found on the Internet at www.marineproductscorp.com.

Contacts:
Ben M. Palmer
Chief Financial Officer
404.321.7910
irdept@marineproductscorp.com

Jim Landers
Corporate Finance
404.321.2162

SOURCE: Marine Products Corporation

 




 

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