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ST. LOUIS -- March 10, 2000 -- Save-A-Lot, Ltd. today announced that the company has purchased a 30-acre piece of property in the Park One/332 business park west of Muncie, Indiana, along the Interstate 69 corridor, and will immediately begin construction of a modern, 323,000-square-foot distribution facility. Estimated completion is early summer 2001.

Save-A-Lot is the fastest growing limited assortment grocery store in the nation with 875 stores in 35 states. At its current rate of growth, the St. Louis-based chain will double its number of stores within five years. The self-distributing company currently owns/leases 11 other warehouses.

"We have been looking for an opportunity to build another distribution center to support our rapid growth in this part of the country," said Jim Wagner, Vice President of Distribution for Save-A-Lot. "The Muncie site seems to be a logical choice because of the easy access to a major thoroughfare and the economic opportunities in the region."

Wagner said the company's interest in Muncie developed from recent contacts with the local Vision 2001 Economic Development Organization and Muncie-Delaware County Chamber of Commerce. "Looking at Muncie, we saw a great community with solid family values, a strong work ethic, and the development opportunities we need to invest in this project," he said.

He added, "Over the past few months, we've developed good working relationships with members of the local government and county commissions, including the redevelopment commission. The foresight and hard work of those individuals have allowed us to advance this project and further solidify our ties with the citizens of Muncie."

Wagner also acknowledged the assistance of the Indiana Department of Commerce. "The department's financial assistance was an important component in the success of the project," he said.

The distribution facility will employ over 100 workers on three shifts. It will handle dry goods and perishable items to service Save-A-Lot Food Stores in the region.

Said Terry Murphy, Vice President, Vision 2001, "We see Save-A-Lot as an excellent employer whose long-term benefits to the community are very significant. The revenue back into the community from the payroll generated by the facility will amount to over $1 million within 10 years. Save-A-Lot will be paying wages currently over the county median average, with estimated payroll taxes of $33.4 million over the next 10 years. The property and real estate taxes generated from the facility will also boost our economy, accounting for over $2.3 million within the next decade."

Save-A-Lot becomes the business park's first tenant.

"Save-A-Lot will be a fantastic anchor tenant," said Gale Tschuor, partner, Park One/332. "The company is building the type of facility we have been looking for — a quality-constructed building that will hold its value years from now."

Park One/332 believes that Save-A-Lot's new distribution facility will spur other investors to support the business park. "We will see restaurants, gas stations, and other businesses interested in the traffic created by the distribution facility and the Save-A-Lot employees," Tschuor said.

Dan Kimack