THE INTERGROUP CORPORATION ANNOUNCES INCREASE IN SHARE REPURCHASE PROGRAM

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 Company’s common stock under its existing stock repurchase program, reflecting the Board’s confidence in management and the Company’s business, as well as belief that the Company’s 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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