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DAVID H. PANASCI ELECTED PRESIDENT AND CHIEF OPERATING OFFICER OF FAY'S INCORPORATED

 LIVERPOOL, N.Y., March 26 /PRNewswire/ -- The board of directors of Fay's Incorporated (NYSE: FAY) today announced the election of David H. Panasci, 34, as president and chief operating officer of the company. These positions have been held by Henry A. Panasci, Jr., the company's co-founder and chairman of the board and chief executive officer, since August 1992. David H. Panasci is the son of Henry A. Panasci, Jr.
 David Panasci has been employed by Fay's since 1977 and was formerly executive vice president of the company. He has also held the positions of president of the company's Paper Cutter Division, vice president- corporate development and vice president-real estate. He also serves as a member of Fay's board of directors.
 Panasci's involvement in community affairs includes service as a member of the board of directors and treasurer of Literacy Volunteers of Greater Syracuse and as a member of the Advisory Council of the St. Joseph Hospital Health Center. Panasci has also served as president of the Central New York Chapter of the Cystic Fibrosis Foundation.
 Panasci is a 1980 graduate of the Syracuse University School of Management and resides in Jamesville, N.Y.
 Fay's currently operates 245 drug stores in the states of New York, Pennsylvania, New Hampshire and Vermont, together with 30 Wheels Discount Auto Supply Stores in upstate New York and 34 Paper Cutter Stores in the states of New York, Pennsylvania and New Jersey.
 -0- 3/26/93
 /CONTACT: Henry A. Panasci, Jr., chairman of the board, Fay's Incorporated, 315-451-8000/
 (FAY)


CO: Fay's Incorporated ST: New York IN: REA SU: PER

BM -- CL015 -- 0091 03/26/93 13:29 EST
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Publication:PR Newswire
Date:Mar 26, 1993
Words:273
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