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NATICK, MA, USA April 21, 2008

Cognex Announces New $50 Million Stock Repurchase Authorization

NATICK, MA, April 21, 2008 — Cognex Corporation (NASDAQ: CGNX) today announced that its Board of Directors authorized the repurchase of up to $50 million of Cognex common stock in open market transactions.  The repurchases will be made at management’s discretion depending upon a variety of factors, including price levels and share availability. 

This new authorization is in addition to the $100 million stock repurchase program that was announced by Cognex on July 27, 2006, of which approximately $13 million remains available.  And it is also in addition to the $30 million stock repurchase program announced on March 13, 2008 that is subject to the parameters of a Rule 10b5-1 Plan for repurchases during Cognex self-imposed trading blackout periods related to the announcement of quarterly results, of which approximately $27 million remains available.  This new authorization brings the total amount of funds available for the repurchase of Cognex common stock to $90 million.

Forward-Looking Statement
Certain statements made in this press release, which do not relate solely to historical matters, are forward-looking statements.  These statements can be identified by use of the words “expects,” “anticipates,” ”estimates,” “believes,” “projects,” “intends,” “plans,” “will,” “may,” “shall” and similar words.  These forward-looking statements involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected.  Such risks and uncertainties include: (1) economic conditions that impact the capital spending trends of manufacturers in a variety of industries; (2) the cyclicality of the semiconductor and electronics industries; (3) the inability to achieve significant international revenue; (4) fluctuations in foreign exchange rates; (5) the loss of, or a significant curtailment of purchases by, any one or more principal customers; (6) the reliance upon certain sole-source suppliers of critical components; (7) the inability to attract and retain skilled employees; (8) the inability to design and manufacture high-quality products; (9) the technological obsolescence of current products and the inability to develop new products; (10) the failure to effectively manage product transitions or accurately forecast customer demand; (11) the failure to properly manage the distribution of products and services; (12) the inability to protect Cognex proprietary technology and intellectual property; (13) the company’s involvement in time-consuming and costly litigation; (14) the impact of competitive pressures; (15) the challenges in integrating acquired businesses and achieving expected results; (16) exposure to additional tax liabilities; and (17) the other risks detailed in the company’s reports filed with the SEC, including the company’s Form 10-K for the fiscal year 2007.  You should not place undue reliance upon any such forward-looking statements, which speak only as of the date made. Cognex disclaims any obligation to update forward-looking statements after the date of such statements.

Susan Conway
Director of Investor Relations
Cognex Corporation
Telephone: (508) 650-3353
Email: susan.conway@cognex.com

About Cognex

Cognex Corporation designs, develops, manufactures, and markets a range of products that incorporate sophisticated machine vision technology that gives them the ability to “see.” Cognex products include barcode readers, machine vision sensors, and machine vision systems that are used in factories, warehouses, and distribution centers around the world to guide, gauge, inspect, identify, and assure the quality of items during the manufacturing and distribution process.

Cognex is the world's leader in the machine vision industry, having shipped more than 1 million vision-based products, representing over $4 billion in cumulative revenue, since the company's founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has regional offices and distributors located throughout the Americas, Europe, and Asia. For details visit Cognex online at http://www.cognex.com.

Cognex, PatMax and In-Sight and EasyBuilder are registered trademarks and PatMax RedLine and In-Sight Explorer are trademarks of Cognex Corporation. All other trademarks are the property of their respective owners.


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