REDMOND, Wash., August 7, 2008 - Concur (Nasdaq: CNQR), the world's leading provider of on-demand Employee Spend Management services, today announced that its Board of Directors has modified its current stock repurchase program by increasing the number of shares of its common stock eligible for repurchase from two million shares to five million shares and extending the program through January 2011. The company has repurchased over 1.4 million shares under the current program, all within the first three quarters of the current fiscal year.
Stock purchases under the stock repurchase program are expected to be made from time to time in the open market based on market conditions. The repurchased shares will be retired. The Board of Directors believes that this stock repurchase program demonstrates Concur’s continued commitment to enhance long-term stockholder value.