GlobeNewswire Inc | Dec 20, 2021 05:43PM EST

December 20, 2021

Los Angeles, California, Dec. 20, 2021 (GLOBE NEWSWIRE) -- The InterGroup Corporation (NASDAQ: INTG) today announced that its Board of Directors has authorized the Company to purchase up to an additional 125,000 shares of the Companys common stock under its existing stock repurchase program, reflecting the Boards confidence in management and the Companys business, as well as belief that the Companys shares are undervalued. That action increased the total remaining number of shares authorized for repurchase to approximately 130,000 shares. The purchases will be made, in the discretion of management, from time to time, in the open market or through privately negotiated third party transactions depending on market conditions and other factors.

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Statements in this release which are not historical facts are forward looking statements and safe harbor statements under the Private Securities Litigation Reform Act of 1995 that involve risks and/or uncertainties, including risks and/or uncertainties as described in the Companys public filings with the Securities and Exchange Commission.

CONTACT: John V. Winfield Chairman of the Board, President and Chief Executive Officer Telephone: (310) 889-2500