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Novell Announces $200 Million Share Repurchase Program

WALTHAM, Mass.22 Sep 2005Novell, Inc. (NASDAQ: NOVL) today announced that its board of directors has approved a share repurchase program for up to $200 million of Novell common stock over the next 12 months.
Repurchases will be made from time to time on the open market at the discretion of management based on management's evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan. Such a plan would permit Novell to repurchase shares when it might otherwise be precluded by insider trading laws, provided that Novell enters into the plan at a time when it is not in possession of material, non-public information and satisfies certain other conditions. The repurchase program may be suspended or discontinued at any time.

Financial In Market Jack Messman, Novell's chairman and chief executive officer, said, Our stock buyback is just one of the elements of a plan aimed at enhancing shareholder value and securing Novell's future as an important provider of solutions to the IT market. The buyback demonstrates the Board and management's confidence in our financial strength and strategic plan.

one stock split in October 2005, the company has repurchased 67.1 million shares under the share repurchase program at an average price of $10.87 per share.

Oriental Trading About Novell

Intuit also announced today a new stock repurchase program authorizing the purchase of up to $600 million of Intuit stock over the next three years. Intuit used all remaining funds in its last $800 million repurchase program, authorized in May 2007, quarter 2008, which ended on April 30. Since authorizing its first stock repurchase program in May 2001, Intuit has spent approximately $4.5 billion to repurchase approximately 186 million shares of its stock.

Financial Forex Forex Software Novell, Inc. (Nasdaq: NOVL) delivers software for the open enterprise. With more than 50,000 customers in 43 countries, Novell helps customers manage, simplify, secure and integrate their technology environments by leveraging best-of-breed, open standards-based software. With over 20 years of experience, Novell's 6,000 employees, 5,000 partners and support centers around the world help customers gain control over their IT operating environment while reducing cost. More information about Novell can be found at http://www.novell.com.

During the fourth quarter, the company bought approximately 4.4 million shares for approximately $17.5 million, reducing the fourth quarter ending shares outstanding to 44.5 million from 48.8 million at the end of the previous quarter. On October 24, 2002, the company announced that its Board of Directors had authorized a six month repurchase program of up to $30 million of its common stock, and the fourth quarter 2002 repurchase of stock was done under that program.

Trading Novell is a registered trademark of Novell, Inc. in the United States and other countries. All third-party trademarks are the property of their respective owners.

Trading Financial System Forward-Looking Statement

The company has authorization to purchase up to an additional 5.1 million shares under the share repurchase program. Repurchases will continue to be made in the open market and through privately negotiated transactions subject to market and other conditions. No minimum number of shares has been fixed. Since Choice announced its stock repurchase program on June 25, 1998, the company has repurchased 33.6 million shares of its common stock for a total cost of $711.9 million through February 13, 2007. one stock split in October 2005, the company has repurchased 66.6 million shares at an average price of $10.69 per share.

Day Trading This press release includes statements that are not historical in nature and that may be characterized as forward-looking statements, including those related to share repurchases and factors to be utilized by management in determining whether to effect share repurchases. You should be aware that Novell's actual results and activities could differ materially from those contained in the forward-looking statements, which are based on current expectations of Novell management and are subject to a number of risks and uncertainties, including, but not limited to, Novell's capital requirements, unanticipated business and regulatory developments, and the other factors described in Novell's Annual Report on Form 10-K for the fiscal year ended October 31, 2004. Novell disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

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