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AMERICAN STORES CO. ANNOUNCES INCREASE IN QUARTERLY CASH DIVIDEND; ELECTS THREE NEW DIRECTORS TO THE BOARD

 SALT LAKE CITY, Dec. 15 /PRNewswire/ -- The board of directors of American Stores Co. (NYSE: ASC) today increased the quarterly cash dividend on American Stores Co. common stock to 20 cents per common share from 17.5 cents per share. The new, higher dividend is payable Jan. 5, 1993, to shareholders of record on Dec. 26, 1992.
 Additionally, L.S. Skaggs, chairman of the board of directors, announced the election of three new directors to the board. The election of the new directors is consistent with the company's plan to increase the independence of the board and move toward limiting the number of directors from within the management of the company. As discussed at the annual meeting of shareholders in June 1992, Lawrence A. Del Santo, David L. Maher and Alan D. Stewart stepped down from the board to make way for the three new members. The only remaining management directors on the board are Skaggs, Victor L. Lund, president and chief executive officer, and Donald B. Holbrook, executive vice president and chief legal officer.
 The new directors are Henry I. Bryant, Michael T. Miller, and Arthur K. Smith.
 Bryant, 50, is managing director in charge of the Financial Institutions Group in the Corporate Finance unit of J.P. Morgan & Co. Bryant joined J.P. Morgan & Co. in 1976, and has extensive experience in the bank's corporate finance units, both in the United States and abroad. He is a graduate of Yale University, and holds a masters degree in business administration from the University of Virginia. Bryant is a native of Ohio, and resides in Riverside, Conn.
 Miller, 52, is a native of Salt Lake City, with broad retail experience. Miller is the president and executive director of the ALSAM Foundation, formerly the Skaggs Family Foundation, a private charitable foundation which has significant holdings of American Stores Co. stock. Additionally, he has more than 15 years of experience with American Stores Co. and its subsidiary operations, having held a number of senior level positions including chief executive officer of two of the company's operating subsidiaries.
 Smith, 55, is the president of the University of Utah. Smith has an extensive background in higher education and administration. Prior to his appointment as president of the University of Utah in 1991, he held the positions of interim president, provost, and executive vice president for Academic Affairs at the University of South Carolina between 1988 and 1991. Smith holds a doctor of philosophy degree from Cornell University in International Politics and Law, Comparative Politics, and Latin American studies. Smith is a native of Derry, N.H.
 American Stores Co. operates 1,495 retail stores in 30 states through three regional companies:
 -- Jewel Companies Inc., which operates Acme Markets Inc., the market leader in Philadelphia; Jewel Food Stores Inc., the market leader in the Chicago area, and Star Market, one of Boston's leading food retailers;
 -- Lucky Stores Inc., California's leading food retailer with grocery and combination stores throughout the state; and
 -- American Drug Stores Inc., which operates Osco Drug, the Chicago area's market leader, and Sav-on, the market leader in the greater Los Angeles market.
 -0- 12/15/92
 /CONTACT: Meredith Anderson, VP-public and government relations, or Cal Drecksel, VP-investor relations of American Stores, 801-539-0112/
 (ASC)


CO: American Stores Co. ST: Utah IN: REA SU: DIV PER

EH-SD -- LA025 -- 7276 12/15/92 14:14 EST
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Date:Dec 15, 1992
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