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FOOD LION, INC. HOLDS 34TH ANNUAL MEETING OF SHAREHOLDERS; ANNOUNCES THREE-FOR-TWO STOCK SPLIT

 FOOD LION, INC. HOLDS 34TH ANNUAL MEETING OF SHAREHOLDERS;
 ANNOUNCES THREE-FOR-TWO STOCK SPLIT
 SALISBURY, N.C., May 7 /PRNewswire/ -- At the 34th annual meeting of shareholders of Food Lion, Inc. (NASDAQ-NMS: FDLN), shareholders elected ten members of the Board of Directors, including three new members. Elected were Pierre-Olivier Beckers, Raymond-Max Boon, Dan A. Boone, Charles de Cooman d'Herlinckhove, Gui de Vaucleroy, David E. Johnston, Ralph W. Ketner, Jacques LeClercq, Tom E. Smith and John P. Watkins. The new members are Pierre-Olivier Beckers, Dan A. Boone and John P. Watkins.
 Beckers, 31, is currently a member of the Management Committee of Delhaize "Le Lion" and also serves as a Purchase Manager. Boone, 40, is currently the Vice President of Finance and Secretary of Food Lion. Boone has been with Food Lion (NASDAQ-NMS: FDLN) since 1982 and has also served as Treasurer of the Company. Watkins, 36, is currently the Senior Vice President of Store Operations for Food Lion, a position he has held since May 9, 1991. Watkins has been with Food Lion since 1977 and has also served as Vice President of Merchandising.
 Tom E. Smith, President and Chief Executive Officer of the Company, reviewed for the shareholders the consistent performance of the Company over the last ten years. Smith stressed that despite a sluggish economy the Company was among the leaders in the industry in profitability, identical store sales and percentage growth. Smith also told the shareholders that the Company plans to have 1,000 stores operating in 14 states ba?r end.
 In addition to electing members to the Board of Directors, shareholders approved the Food Lion 1991 Employee Stock Option Plan and ratified the appointment of Coopers & Lybrand as independent accountants for the Company's fiscal year ending Jan. 2, 1993.
 Smith announced that the Board of Directors had today declared a three-for-two stock split on each of the Company's Class A Common Stock and Class B Common Stock, each to be effected in the form of a 50 percent stock dividend payable out of the authorized but unissued shares of the Company's Class A Common Stock and Class B Common Stock. On June 8, 1992, shareholders of the Company will be issued one additional share of Class A Common Stock and one additional share of Class B Common Stock for each two whole shares of Class A Common Stock and Class B Common Stock, respectively, held as of the close of business on May 22, 1992. Cash will be paid in lieu of fractional shares of Class A Common Stock and Class B Common Stock that would otherwise be issued as a result of the three-for-two stock split.
 -0- 5/7/92
 /CONTACT: Mike Mozingo, Food Lion, Inc., 704-633-8250, Ext. 2575/
 (FDLN) CO: Food Lion, Inc. ST: North Carolina IN: REA FOD SU: PER


JZ -- CH007 -- 7594 05/07/92 11:43 EDT
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Publication:PR Newswire
Date:May 7, 1992
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