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Zebra Technologies Corporation Announces Three-for-Two Stock Split

Zebra Technologies Corporation (Nasdaq: ZBRA - News) announced today that its Board of Directors has authorized a three-for-two stock split, payable in the form of a 50% stock dividend on August 25, 2004, to stockholders of record on July 29, 2004. Following the stock split, Zebra will have approximately 71,600,000 shares of common stock outstanding. Cash will be paid in lieu of fractional shares.

"The success of our business strategy has resulted in record sales and earnings, and created a solid platform for continued creation of stockholder value over the long term," stated Edward Kaplan, Zebra's chairman and chief executive officer. "We are well positioned for further growth from continued high demand for bar code labeling solutions and card imaging applications, as well as from a broader set of opportunities in radio frequency identification, vertical market applications, wireless mobile printing, and digital photo printing. Zebra's Board is pleased to take this action today, as part of our ongoing efforts to broaden the company's stockholder base and improve the liquidity of Zebra stock."
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