News and Events

eOn Communications Corporation Announces Stock Repurchase Program

Memphis, TN - September 7, 2000 - eOn Communications Corporation(TM) (Nasdaq:EONC), the leading provider of Linux(TM)-based unified voice, Web and Internet communications systems, today announced that its board of directors has authorized a stock repurchase program whereby up to 1 million shares of its Common Stock may be purchased at market prices as business conditions warrant. The stock will be repurchased on the open market from time to time at management's discretion.

"We see the demand continuing to grow for communications servers and software that enable integrated voice, e-mail and Web communications," said David S. Lee, chairman and chief executive officer of eOn. "Taking into consideration the size of our target market and the technology advantages of our product offerings, we consider eOn's stock to be undervalued at its recent trading level. Establishing a repurchase program gives us the opportunity to buy back shares at attractive prices."

About eOn Communications Corporation

eOn Communications Corporation (www.eoncc.com) designs, develops and markets next-generation Linux-based communications servers and software that integrate and manage voice, e-mail and Internet communications for customer contact centers and general business applications. The Company also offers the Millennium® digital switching platform for small and medium-sized installations. eOn Communications Corporation helps enterprises communicate more effectively with customers, convert inquiries into sales, and increase customer satisfaction and loyalty.

Note

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, including technical and competitive factors, which could cause the Company's results and the timing of certain events to differ materially from those discussed in the forward-looking statements. Such risks are detailed in eOn Communications Corporation's most recent Form 10-Q filing with the Securities and Exchange Commission.

Back to News