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LOWE'S ANNOUNCES MAJOR NATIONAL RECOGNITION

 NORTH WILKESBORO, N.C., Jan. 26 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) today proudly announced its designation as one of "The 100 Best Companies to Work for in America" in the new Doubleday book by Robert Levering and Milton Moskowitz. This recognition marks a repeat for Lowe's, as the company was also included in the authors' first 1984 book and the subsequent 1985 edition.
 Levering and Moskowitz received over 400 nominations as they worked to identify and describe the nation's 100 best workplaces. This guide to excellence rates the companies from the employee's point of view, comparing: Pay/Benefits, Opportunities, Job Security, Pride in Work/Company, Openness/Fairness, and Camaraderie/Friendship. Companies are graded in each category and receive from one to five stars for excellence.
 Lowe's received a four-star rating in Opportunities and Job Security categories. Management was particularly gratified to see its employees receive another four stars for friendliness. Lowe's received three stars for excellence in all other categories. The authors also emphasized the importance of Lowe's employee stock-ownership plan (ESOP), in which employees currently own about a quarter of the company's stock, and quite often have an opportunity to retire with a sizable "nest egg." Company management feels that the employees' ownership of 25 percent of Lowe's was a decisive factor in their being included in the "Top 100."
 Quoted in the "100 Best" review are the following Lowe's employees: Pat Anderson -- Executive Secretary; Tommy Bee -- Muscle Shoals Store Manager; Ferrel Bryan -- Warehouse Employee; Riff Footland -- Director of Store Systems; Gretchen Heunemann -- User System Data Specialist; Gary Holbrook -- Lead in Receiving at the Distribution Center; Jan Lambert -- District Manager; Lee McConnell -- Wilkesboro Store Manager; Jesse Miles -- Wilkesboro Store Employee; Jeff Osborne -- director of Contractor Sales; Ed Spears -- Director of Human Resources; Larry Stone -- Vice President of Merchandising; and Tom Wyatt -- Warehouse Employee.
 Lowe's is proud to be a North Carolina based company. It is one of only 55 repeat designates in the "100 Best" book. Additionally, Lowe's and SAS Institute of Cary, N.C. are the only two North Carolina based companies to be honored.
 Headquartered in North Wilkesboro, N.C., Lowe's is one of the largest specialty retailers serving the home center do-it-yourself business, the consumer durables business, and the building contractor business. It currently operates 302 stores in 20 states; however, the company has a broad expansion program underway. 1993 will be a year of explosive growth for Lowe's, as it expands its total square footage by over 40 percent. Lowe's plans to open a total of 60 new stores this year: 30 new stores in new markets; 30 relocations in existing markets to new, larger stores. It is the most aggressive expansion plan in the company's history.
 Lowe's began operations in 1946 and has been a publicly held company since 1961. The company employs over 23,000 employees and has approximately 73 million outstanding shares of common stock. Lowe's shares are listed on the New York, Pacific, and London Stock Exchanges under the ticker symbol LOW.
 -0- 1/26/93
 /CONTACT: W. Cliff Oxford, 919-651-4631, or Clarissa S. Felts, 919-651-4254, both of Lowe's Companies, Inc./
 (LOW)


CO: Lowe's Companies, Inc. ST: North Carolina IN: REA SU:

SB -- CH007 -- 9238 01/26/93 16:00 EST
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 26, 1993
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