BOSTON - Bank of Boston Corp.'s directors have approved a repurchase program for up to $150 million of the company's common stock.

Shares purchased under this program will be used for employee benefit and director plans, the dividend reinvestment plan, shares which may be issued in connection with its convertible subordinated debentures, and future earnings payouts in connection with the acquisition - completed last month - of Ganis Credit Corp..

Additionally, Bank of Boston completed the acquisition of $50 million of common stock in connection with a buyback program announced in November.

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