ELBO Electronics Boutique Hldgs (MM)

Electronics Boutique Announces Stock Buy-Back WEST CHESTER, Pa., Nov. 17 /PRNewswire-FirstCall/ -- Electronics Boutique Holdings Corp. announced today that its Board of Directors has approved a program to repurchase up to an additional 2.0 million shares of the company's outstanding common stock. The stock repurchases may, at the discretion of the company's management, be made from time to time on the open market or in privately negotiated transactions. In May 2003, the company announced a program to repurchase up to 1.5 million shares of the company's common stock. The company completed that repurchase program in June 2003. The decision to increase the buy-back was prompted by Electronics Boutique's continued strong cash position and the company's current stock price, which closed at $24.11 on Friday. The company currently has 24,903,284 shares of common stock outstanding. Under the buy-back program, the company may repurchase shares of its common stock from time to time in compliance with SEC regulations and subject to market conditions. The program does not require the company to acquire any specific number of shares and the company may terminate the program at any time. About Electronics Boutique Holdings Corp. Electronics Boutique, a Fortune 1000 company, is among the world's largest specialty retailers dedicated exclusively to video game hardware, software and PC entertainment software accessories. The company operates over 1,436 stores in the United States, Australia, Canada, Denmark, Germany, Italy, New Zealand, Norway, Puerto Rico, Sweden and South Korea - primarily under the names of EB Games and Electronics Boutique. The company operates an e-commerce website at http://www.ebgames.com/. Additional company information is available at http://www.ebholdings.com/. This release contains forward-looking statements, including statements about the company's intentions to repurchase its shares. Forward-looking statements refer to expectations, projections and other characterizations of future events or circumstances often identified by the use of words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimated," "continue" or comparable terminology. In addition to factors specified in Electronics Boutique's recent filings with the Securities and Exchange Commission, there are other factors that could cause actual results to materially differ from those expressed or implied in these forward-looking statements, such as the continued impact of a weak economy on Electronics Boutique's sales, the schedule for new software releases, consumer demand for video game hardware and software, pricing changes by key vendors for hardware and software, increased competition and promotional activity from other retailers, and the availability of suitable locations for new stores. In light of the risks and uncertainties inherent in forward-looking statements, these statements should not be regarded as a representation by Electronics Boutique or any other person that the projected results, objectives or plans will be achieved. Electronics Boutique undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date hereof. DATASOURCE: Electronics Boutique Holdings Corp. CONTACT: James A. Smith, Chief Financial Officer, Electronics Boutique Holdings Corp., +1-610-430-8100 Web site: http://www.ebgames.com/ Web site: http://www.ebholdings.com/

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