Exhibit 99.1


Lexmark's board of directors authorizes an additional $500 million repurchase of
shares

Lexington,  Ky., July 28, 2005 - Lexmark  International,  Inc. (NYSE: LXK) today
announced  that its board of  directors  has  authorized  the  repurchase  of an
additional $500 million of its Class A Common Stock.

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
$2.9 billion from the $2.4 billion  previously granted by the board. The company
has used $2.16 billion of the prior  authorization  to repurchase  approximately
47.3 million shares.

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

About  Lexmark

Lexmark  International,  Inc.  (NYSE:  LXK) makes it easier for  businesses  and
consumers to move  information  between the digital and paper worlds.  Since its
inception  in 1991,  Lexmark has become a leading  developer,  manufacturer  and
supplier  of printing  and  imaging  solutions  for  customers  in more than 150
countries. Lexmark reported $5.3 billion in revenue in 2004, 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.