8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

        Date of Report (Date of earliest event reported):  March 2, 2005


                                   EPLUS INC.
              -----------------------------------------------------
             (Exact name of registrant as specified in its charter)

                  Delaware                000-28926           54-1817218
               --------------          --------------       --------------
     (State or other jurisdiction  (Commission File Number) (IRS Employer
              of incorporation)                             Identification No.)

            13595 Dulles Technology Drive, Herndon, Virginia 20171-3413
               -----------------------------------------------------
          (Address, including zip code, of principal executive office)

                                 (703) 984-8400
                                 --------------
              (Registrant's telephone number, including area code)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2 below):

[   ]   Written communications pursuant to Rule 425  under  the  Securities  Act
        (17 CFR 230.425)

[   ]   Soliciting  material  pursuant to Rule  14a-12  under  the  Exchange Act
        (17 CFR 240.14a-12)

[   ]   Pre-commencement  communications pursuant  to Rule  14d-2(b)  under  the
        Exchange Act (17 CFR 240.14d-2(b))

[   ]   Pre-commencement  communications  pursuant to  Rule 13e-4(c)  under  the
        Exchange Act (17 CFR 240.13e-4(c))



















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Item 8.01  Other Events

On March 2, 2005, ePlus inc.  announced by press release that it has amended its
stock repurchase program to increase the cumulative  maximum  repurchases during
the twelve month period ending  November 17, 2005, to $12,500,000 from the prior
cumulative maximum amount of $7,500,000.

A copy of the press  release  dated March 2, 2005 is attached  hereto as Exhibit
99.1 to this Form 8-K and is incorporated herein by reference.

Item 9.01  Financial Statements and Exhibits

(a) Not applicable.

(b) Not applicable.

(c)      Exhibits
99.1     Press Release dated March 2, 2005, issued by ePlus inc.

SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                              ePlus inc.


                                              By: /s/ Steven J. Mencarini
                                                  ------------------------------
                                                  Steven J. Mencarini
Date: March 2, 2005                               Chief Financial Officer

EX-99

                    ePlus Increases Stock Repurchase Program

Herndon, VA - March 2, 2005 - ePlus inc (Nasdaq NM: PLUS - news) announced today
that it has amended its stock  repurchase  program to  increase  the  cumulative
maximum  repurchases  during the twelve month period ending November 17, 2005 to
$12,500,000  from the prior cumulative  maximum amount of $7,500,000.  All other
terms of the stock repurchase program announced by press release on November 18,
2004 remain the same. In particular, the purchases may be made from time to time
in  the  open  market,  or in  privately  negotiated  transactions,  subject  to
availability,  at prices deemed  appropriate  by  management.  Furthermore,  any
repurchased shares will have the status of treasury shares and may be used, when
needed, for general corporate purposes.

About ePlus inc.

A leading provider of Enterprise Cost Management, ePlus provides a comprehensive
solution to reduce the costs of  purchasing,  owning,  and  financing  goods and
services.  ePlus  Enterprise Cost Management  (eECM) packages  business  process
outsourcing,   eProcurement,  asset  management,  product  and  catalog  content
management, supplier enablement, strategic sourcing, and financial services into
a single integrated  solution,  all based on ePlus' leading business application
software.  Profitable  since inception in 1990, the company is  headquartered in
Herndon,  VA, and has more than 30 locations  in the U.S. For more  information,
visit www.eplus.com, call 888-482-1122 or email info@eplus.com.

ePlus(TM) is a trademark of ePlus inc. ePlus  Enterprise  Cost  Management,  and
eECM, are trademarks applied for of ePlus inc.

"Safe Harbor"  Statement under the Private  Securities  Litigation Reform Act of
1995:  Statements in this press release,  which are not historical facts, may be
deemed to be "forward-looking statements". Actual and anticipated future results
may vary due to certain risks and uncertainties,  including, without limitation,
the existence of demand for, and  acceptance  of, our  services;  our ability to
adapt our  services  to meet  changes  in  market  developments;  the  impact of
competition  in our  markets;  the  possibility  of defects in our  products  or
catalog content data; our ability to hire and retain sufficient  personnel;  our
ability  to protect  our  intellectual  property;  the  creditworthiness  of our
customers;  our ability to raise capital and obtain  non-recourse  financing for
our transactions; our ability to realize our investment in leased equipment; our
ability to reserve  adequately for credit losses;  fluctuations in our operating
results;  our reliance on our management  team; and other risks or uncertainties
detailed in our Securities and Exchange Commission filings.

        Contact: Steve Mencarini, CFO        Kley Parkhurst, SVP
                 ePlus inc.                  ePlus inc.
                 smencarini@eplus.com        kparkhurst@eplus.com
                 703-984-8240                703-984-8150