Jack in the Box Inc. Announces $30 Million Stock Repurchase Program

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Jack in the Box

SAN DIEGO—May 13, 2002—On Friday, May 10th, Jack in the Box Inc.'s (NYSE:JBX) Board of Directors authorized an increased common stock repurchase program, in which the company can buy back $30 million of its common stock. This authorization is in addition to the company's prior repurchase program announced December 1999 for $10 million, of which $3.4 million remains available for use.

The stock buyback is authorized to take place from time to time, subject to prevailing market conditions.

"This action by the Board of Directors demonstrates our confidence in the outlook for Jack in the Box Inc.," said Chairman and CEO Robert J. Nugent. "We continue to build momentum with a strategy that focuses on quality food and service, which we believe will pay off for our guests and our shareholders."