TTWO » Topics » Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

This excerpt taken from the TTWO 10-Q filed Sep 8, 2005.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

In January 2003, the Board of Directors authorized a stock repurchase program under which the Company may repurchase up to $25,000 of its common stock from time to time in the open market or in privately negotiated transactions. During the quarter ended July 31, 2005, the Company repurchased 520,341 shares of its common stock at an aggregate cost of approximately $14,998. As of July 31, 2005, $10,002 may be used to purchase additional shares of the Company’s common stock under this program. Detail of the repurchases is provided in the table below.

Month of Purchase     Total number of
shares purchased/
    Average price
paid per share
    Total number of
shares repurchased
as part of the
publicly announced
    Total amount
purchased as part

of the publicly
    Maximum dollar
value of shares that

may yet be purchased

under the program





May 2005       $       $   $ 25,000  
June 2005     520,341     28.82     520,341     14,998     10,002  
July 2005     412,500 (1)   22.67 (1)           10,002  





Total/Average     932,841   $ 26.10     520,341   $ 14,998   $ 10,002  





(1) In July 2005, the Company accepted for return 412,500 shares of its common stock held by three employees with a fair market value at the original issuance date of approximately $9,350.



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