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HANNAFORD AUTHORIZES STOCK REPURCHASE PROGRAM

 SCARBOROUGH, Maine, Feb. 9 /PRNewswire/ -- Hannaford Bros. (NYSE: HRD), Northern New England's largest food retailer, announced today that its board of directors approved a stock repurchase program authorizing the purchase of up to $55 million in shares of Hannaford common stock.
 The program authorizes the company to buy back shares from time to time over the next three years in the open market and privately negotiated transactions when special market opportunities arise.
 Hugh G. Farrington, Hannaford's president and chief executive officer, said "We intend to repurchase stock only when the market price of the company's stock would provide us with a favorable rate of return relative to other investment opportunities that might be available to us at the time. Although we have no plans at present to repurchase stock, the board's action gives us the flexibility to take advantage of such opportunities if and when they arise."
 Shares repurchased by company will be held as treasury shares and be available to the company for use in various benefit plans and for other corporate purposes.
 As of Feb. 9, 1993, there were 40,814,095 shares of Hannaford common stock outstanding.
 -0- 2/9/93
 /CONTACT: Charles Crockett of Hannaford Brothers, 207-883-2911/
 (HRD)


CO: Hannaford Brothers ST: Maine IN: REA SU:

TM -- NE013 -- 4637 02/09/93 11:53 EST
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Publication:PR Newswire
Date:Feb 9, 1993
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