Ebix Announces Increase to Share Buy Back Program

Ebix, Inc. EBIX today announced that its Board of Directors has unanimously approved an increase to the Company's share repurchase program from $45 million to $100 million. The Board also authorized the Company to possibly complete these share repurchases over the next twelve months, and that they be funded by the Company's operating cash flows. The Board made the determination to increase the share buy back plan limit after reviewing Ebix's consistent cash flows. The Company also reported that since January 1, 2011 and thru June 29, 2011 that it has bought back 1.31 million shares of common stock for aggregate consideration in the amount of $26.2 million and at an overall average of $20.02 per share. All share repurchases were and continue to be done in accordance with Rule 10b-18 of the Securities Exchange Act of 1934 as to the timing, pricing, and volume of such transactions.