Roslyn Bancorp said Tuesday that its board has authorized the reinstitution of its stock-repurchase program.

The plan, which was announced in April 1998, was suspended in conjunction with Roslyn's acquisition of T R Financial Corp. The plan allowed for the repurchase of up to 5% of Roslyn Bancorp Inc.'s shares. As of June 30, Roslyn had 76.9 million shares outstanding.

The thrift company repurchased 60,377 shares prior to the acquisition. More than 3.7 shares are eligible for repurchase under the remainder of the program.

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