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WAL-MART RESPONDS TO SMEAR CAMPAIGN BY TARGET

 BENTONVILLE, Ark., March 29 /PRNewswire/ -- A negative ad campaign released by Target Stores against Wal-Mart Stores, Inc. (NYSE: WMT; PSE), was "grossly unfair" in both its allegations and its exploitation of the memory of founder Sam Walton, Wal-Mart said today.
 The company added that its long-time credo "We Sell for Less" will continue to drive the corporation and its associates to work toward everyday low prices by making sure their goods are priced below those of national competitors like Target. The slogan has appeared on every Wal-Mart store since the first Wal-Mart opened in 1962.
 "We are shocked at Target's smear campaign because it challenges our integrity, and because it exploits the memory of our Founder, Sam Walton," stated David Glass, Wal-Mart president and CEO. "In an industry where spirited but fair competition is the norm, the strident tones and unfounded allegations of the Target ads are well beyond the boundaries of fairness and decency," Glass added.
 "Putting customers first with everyday low prices, quality products and superior service is the tenet established by Mr. Sam and by which Wal-Mart and its associates live every day. This means and has always meant -- working hard to carefully verify the prices on our products, compared to prices in other national retail stores. Our success with this formula has been verified by our customers, who continue to make Wal-Mart their favorite store," Glass continued.
 "Wal-Mart store managers sometimes list competitors' prices on price comparison signs near various products," said Wal-Mart spokesman Don Shinkle. "Often, national competition will lower their prices temporarily to meet ours, but later the competitors' products are returned to their previously higher level."
 Shinkle said Wal-Mart's associates will continue their dedication to maintaining the lowest prices of any national retailer, regardless of the challenges from Target.
 "If anything, this kind of attack only makes us more determined to give our customers the lowest prices possible across the broadest spectrum of goods," he said.
 -0- 3/29/93
 /CONTACT: Don Shinkle of Wal-Mart, 501-273-4313/
 (WMT)


CO: Wal-Mart Stores, Inc.; Target Stores ST: Arkansas IN: REA SU:

BR-CF -- AT002 -- 0334 03/29/93 08:40 EST
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Publication:PR Newswire
Date:Mar 29, 1993
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