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The directors of Grainger today restored the company's share repurchase authorization to its original level of 10 million shares.
Prior to this action, approximately 1.3 million shares remained available for repurchase on the existing authorization. Repurchases are expected to be made from time to time in open market and/or privately negotiated transactions. The repurchased shares will be available for general corporate purposes. The company presently has approximately 91.4 million shares of common stock outstanding.