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Press Release
SOURCE: TradeStation Group, Inc.
TradeStation Group Purchases 1,500,000 Shares of Company Stock In Private
Transaction As Part of Stock Buy Back Program
PLANTATION, Fla.--(BUSINESS WIRE)--Aug. 13, 2002--TradeStation Group, Inc.
(Nasdaq:TRAD - News) announced that it has purchased 1,500,000 shares of
TradeStation Group common stock in a private transaction for a total
purchase price of $2,025,000. The seller, Benedict S. Gambino, was a
principal shareholder of OnlineTrading.com, a company acquired by
TradeStation Group in a December 2000 merger. The stock purchase, completed
yesterday, was made pursuant to the company's stock buy back program
announced three weeks ago. Under that program, the company is authorized to
purchase up to 4 million shares of its common stock. The company has now
purchased 1,582,700 shares, or 3.6%, of its outstanding common stock under
that program for an aggregate purchase price of $2,139,182.
"We are very pleased the company has had the opportunity to purchase such a
significant number of shares so quickly under the buy back plan," said Bill
Cruz, Co-Chairman and Co-CEO of the company. "We believe that our company
will have a bright, successful future, as this purchase clearly
demonstrates."
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