March 2, 2007 – Varian Semiconductor Equipment Associates Inc. says it has increased the amount of funds to expend in its stock repurchase program from $300 million to $400 million, about half of which remains available for purchases.

Timing and quantity of any repurchases will be determined by management based on market conditions and other factors, or under a Rule 10b5-1 plan. To date the company has spent about $200 million on the program.

With a current stock price of 47.10, the repurchase would represent reabsorption of ~4.2 million shares, or an extra ~7.6% ownership based on about 54.9 million outstanding shares at the start of February, according to SEC filings.