Calabas Hills / CA. (cf) The Cheesecake Factory Incorporated announced that it has adopted a prearranged stock repurchase plan under Rule 10b5-1 of the Securities Exchange Act of 1934 to assist in the Company´s planned share repurchases of between 150 million USD and 200 million USD in fiscal 2008. In the first half of fiscal 2008, the Company repurchased shares totaling approximately 97 million USD, and has approximately 12,9 million shares remaining under its 31 million share authorization. Under the 10b5-1 Plan, Goldman Sachs + Co. will have the authority to repurchase the Company´s shares in the open market or through privately negotiated transactions, in accordance with the terms of the plan. The 10b5-1 Plan will permit repurchases commencing September 05, 2008 through February 15, 2009, unless the plan is terminated earlier in accordance with its terms. «Adopting a 10b5-1 Plan is a constructive way for us to continue to return capital to shareholders», commented David Overton, Chairman and CEO. «The plan provides us with more flexibility by broadening the window for share repurchases and will help us to more effectively execute our share repurchase program».
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