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GETTY PETROLEUM COMPLETES LEASE AND GASOLINE SUPPLY AGREEMENT WITH UNI-MARTS

 GETTY PETROLEUM COMPLETES LEASE AND GASOLINE
 SUPPLY AGREEMENT WITH UNI-MARTS
 JERICHO, N.Y., Dec. 9 /PRNewswire/ -- Getty Petroleum Corp. (NYSE: GTY) announced today that on Dec. 6 it completed the leasing of 141 convenience food stores to Uni-Marts, Inc., for five years. Getty also received approximately $12.3 million for the store equipment and inventory.
 In addition, Getty will continue to supply gasoline to 109 leased stores as well as supply approximately 80 million additional gallons of gasoline per year to 200 existing stores of Uni-Marts, of which the gasoline operations will also be rebranded "Getty."
 According to Leo Liebowitz, Getty's president and chief executive officer, "We believe that both Getty and Uni-Marts will benefit from favorable economies of scale through this mutually favorable transaction."
 Getty Petroleum Corp., one of the nation's largest independent marketers of gasoline and petroleum products, markets in a 13-state area, Maine through Virginia. The company is also a major marketer of heating oil and is a wholesale distributor of a variety of petroleum products through its East Coast petroleum storage and distribution network.
 -0- 12/9/91
 /CONTACT: Stephen Salzman of Getty Petroleum, 516-338-1212/
 (GTY) CO: Getty Petroleum Corp. ST: New York IN: OIL SU: TNM


KD-CK -- NY044 -- 0559 12/09/91 12:45 EST
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Publication:PR Newswire
Date:Dec 9, 1991
Words:210
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