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AMERICAN STORES CO. ANNOUNCES AGREEMENT BETWEEN AMERICAN DRUG STORES INC. AND RELIABLE DRUG STORES

 SALT LAKE CITY, May 27 /PRNewswire/ -- American Stores Co. (NYSE: ASC) announced that its wholly owned subsidiary, American Drug Stores Inc., has agreed to purchase the inventories, fixtures, and prescription files for 110 Reliable Drug stores located in Illinois, Indiana, Iowa, Kansas, and Missouri. Additionally, the company stated it would assume the leases on 51 of those 110 locations, which the company believes will enhance its business operations in several of its existing markets.
 Reliable Drug Stores filed a petition for protection under Chapter 11 of the Bankruptcy Code on Dec. 9, 1992, and therefore the transaction is subject to obtaining approval of the Bankruptcy Court as well as other customary governmental approvals.
 The transaction is anticipated to close in July of this year.
 -0- 5/27/93
 /CONTACT: Cal Drecksel or Meredith Anderson of American Stores, 801-539-0112/
 (ASC)


CO: American Stores Co. ST: Utah IN: REA SU:

EH -- LA015 -- 3691 05/27/93 10:26 EDT
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Publication:PR Newswire
Date:May 27, 1993
Words:157
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