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Finish Line Announces Reinstatement and 20% Increase of Cash Dividend and the Authorization of a Stock Repurchase Program

2008-07-17 15:15:00

    INDIANAPOLIS, July 17 /EMWNews/ -- The Finish Line, Inc.

(the "Company") (Nasdaq: FINL) announced today that its Board of Directors

has reinstated the quarterly cash dividend program with a 20% increase to

$0.03 per share of Class A and Class B common stock. The first quarterly

cash dividend will be payable on September 15, 2008, to shareholders of

record on August 29, 2008.


    Alan H. Cohen, Chairman of the Board and Chief Executive Officer of The

Finish Line, Inc. stated, "The Board's decision recognizes our improved

financial performance, as well as the long-term opportunities we believe

lie ahead. Further, the Board is committed to actions that can contribute

to the total return to our shareholders."

    The Company also announced that its Board of Directors authorized a new

stock repurchase program to repurchase up to 5 million shares of the

Company's Class A common stock, or approximately 9% of the aggregate Class

A and Class B common stock outstanding. Under the stock repurchase program,

the Company may purchase shares through December 31, 2011. The Company

believes that adoption of the repurchase program could be a viable use of

excess cash. Such purchases, if any, will occur from time to time, as

market conditions warrant and as the Company deems appropriate when judged

against other alternative uses of cash.

    Certain statements contained in this press release regard matters that

are not historical facts and are forward looking statements (as such term

is defined in the rules promulgated pursuant to the Securities Act of 1933,

as amended). Because such forward looking statements contain risks and

uncertainties, actual results may differ materially from those expressed in

or implied by such forward looking statements. Factors that could cause

actual results to differ materially include, but are not limited to:

changing consumer preferences; the Company's inability to successfully

market its footwear, apparel, accessories and other merchandise; price,

product and other competition from other retailers (including internet and

direct manufacturer sales); the unavailability of products; the inability

to locate and obtain favorable lease terms for the Company's stores; the

loss of key employees; fluctuations in oil prices causing changes in

gasoline and energy prices, resulting in changes in consumer spending and

utility and product costs; general economic conditions and adverse factors

impacting the retail athletic industry; management of growth, and the other

risks detailed in the Company's Securities and Exchange Commission filings.

The Company undertakes no obligation to release publicly the results of any

revisions to these forward looking statements that may be made to reflect

events or circumstances after the date hereof or to reflect the occurrence

of unanticipated events.

    The Finish Line, Inc. is one of the largest mall-based specialty

retailers operating under the Finish Line and Man Alive brand names. The

Finish Line, Inc. is publicly traded on the NASDAQ Global Select Market

under the symbol FINL. The Company currently operates 699 Finish Line

stores in 47 states and online and 94 Man Alive stores in 19 states and

online. To learn more about these brands, visit and

Investor Relations: CONTACT: Kevin S. Wampler, 317-899-1022, ext. 6914 Executive Vice President - CFO The Finish Line, Inc., Indianapolis Media Requests: CONTACT: Elise Hasbrook, 317-899-1022, ext. 6827 Corporate Communications Manager The Finish Line, Inc., Indianapolis

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