Exhibit 99.1


Lexmark's board of directors  authorizes an additional $1 billion  repurchase of
shares


Lexington, Ky., Friday, Oct. 29, 2004 - Lexmark International,  Inc. (NYSE: LXK)
today  announced that its board of directors has authorized the repurchase of an
additional  $1  billion of its Class A Common  Stock.  Paul  Curlander,  Lexmark
chairman and CEO, stated, "This is a very significant  announcement for Lexmark,
and reflects our desire to return excess cash to our shareholders."

The repurchase authority allows the company to selectively  repurchase its stock
from time to time in the open  market or in  privately  negotiated  transactions
depending  upon market price and other  factors.  The  repurchase  authorization
provides  management  with the  flexibility  to make purchases at its discretion
without target price or timetable constraints.

This repurchase  authorization raises the aggregate repurchase  authorization to
$2.4 billion from the $1.4 billion  previously granted by the board. The company
has used $1.36 billion of the prior  authorization  to repurchase  approximately
36.4 million shares.

The repurchased shares will be held in treasury for future use.


About Lexmark
Lexmark International, Inc. is a leading developer, manufacturer and supplier of
printing  solutions  --  including  laser  and  inkjet  printers,  multifunction
products, associated supplies and services -- for offices and homes in more than
150 countries.  Founded in 1991, Lexmark reported  approximately $4.8 billion in
revenue in 2003, and can be found on the Internet at www.lexmark.com.


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Lexmark  and  Lexmark  with  the  diamond   design  are  trademarks  of  Lexmark
International,  Inc.,  registered in the U.S. and/or other countries.  All other
trademarks are the property of their respective holders.