Microsoft Corporation Annual Report 2005
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STOCK PRICE INFORMATION AND ISSUER PURCHASES OF EQUITY SECURITIES

Our common stock is traded on The NASDAQ Stock Market under the symbol MSFT. On August 18, 2006, there were 148,993 registered holders of record of our common stock. The high and low common stock prices per share were as follows:

Quarter Ended Sep. 30 spacer Dec. 31 spacer Mar. 31 spacer June 30 spacer Year
spacer
Fiscal year 2005
Common stock price per share:
    High $29.00   $29.98   $26.84   $26.07   $29.98
    Low 26.88   26.53   23.92   24.12   23.92
spacer                  
Fiscal year 2006                  
Common stock price per share:                  
    High $27.76   $28.16   $28.15   $27.74   $28.16
    Low 24.65   24.30   26.28   21.51   21.51

See Note 12 – Stockholders’ Equity of the Notes to Financial Statements for information regarding dividends approved by our Board of Directors in fiscal years 2006 and 2005.

On July 20, 2006, we announced the completion of the repurchase program, approved by our Board of Directors on July 20, 2004, to buy back up to $30 billion in Microsoft common stock. The repurchases were made using our cash resources. We repurchased common stock in each quarter of fiscal year 2006 as follows:

Period Total number of
shares purchased
spacer Average price
paid per share
July 1, 2005 – Sept. 30, 2005 114,134,218   $26.54
Oct. 1, 2005 – Dec. 31, 2005 283,112,246   $27.08
Jan. 1, 2006 – March 31, 2006 180,720,830   $27.00
April 1, 2006 – June 30, 2006 175,609,060   $23.78

Common stock repurchases in the fourth quarter of fiscal year 2006 were as follows:

Period (a) Total number of shares purchased   (b) Average price paid per share   (c) Total number of shares purchased as part of publicly announced plans or programs   (d) Maximum number of shares (or approximate dollar value) of shares that may yet be purchased under the plans or programs (in millions)
April 1, 2006 – April 30, 2006 38,041,415   $27.08   38,041,415   $5,394
May 1, 2006 – May 31, 2006 8,618,036   $24.37   8,618,036   $5,184
June 1, 2006 – June 30, 2006 128,949,609   $22.76   128,949,609   $2,249
175,609,060       175,609,060    

On July 20, 2006, we announced that our Board of Directors authorized two new share repurchase programs: a $20 billion tender offer which was completed on August 17, 2006; and authorization for up to an additional $20 billion ongoing share repurchase program with an expiration of June 30, 2011. Under the tender offer, we repurchased approximately 155 million shares of common stock, or 1.5% of our common shares outstanding, for approximately $3.8 billion at a price per share of $24.75.

On August 18, 2006, we announced that the authorization for the ongoing share repurchase program, previously announced on July 20, 2006, had been increased by approximately $16.2 billion. As a result, the company is authorized to repurchase additional shares in an amount up to $36.2 billion through June 30, 2011.

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