CONAGRA <CAG> TO PURCHASE 500,000 COMMON SHARES
ConAgra Inc said it will buy 500,000
shares of the company's common stock in the open market.
    This continues Conagra's program of acquiring treasury
stock to meet stock option, incentive plan and preferred stock
conversion obligations, it said.
    Conagra said its purpose is to use treasury shares for
these purposes rather than issuing new shares so that earnings
per share won't be diluted. The company said this is not a
buy-back program to reduce shares and common equity.
    Conagra said it has 67.4 common shares outstanding.
 Reuter
