NEW YORK (Standard&Poor's) June 28, 2007--Standard&Poor's Ratings Services said today that the rating and outlook on Herman Miller Inc. (BBB/Positive/--) would not be immediately affected by the company's announced use of $71.5 million of cash during the fourth quarter of fiscal 2007 to fund share repurchases, and by its plans to use excess cash to repurchase additional shares during the first quarter of fiscal 2008. At fiscal year-end on June 2, 2007, the company had $76.4 million in cash. We expect the company to fund future share repurchases largely from cash balances over time. However, if the company implements a more aggressive policy through sizable debt-financed share repurchases, and if credit protection measures weaken or do
