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HOMELAND STORES, INC. ANNOUNCES INTENT TO REDEEM SUBORDINATED NOTES

 OKLAHOMA CITY, Okla., Feb. 12 /PRNewswire/ -- Homeland Stores, Inc. announced today its intention to redeem all of its outstanding 15-1/2 percent subordinated notes due Nov. 1, 1997 ($47,750,000 principal amount outstanding), at the optional redemption price (including premium) specified in the subordinated notes, together with accrued interest. Homeland expects the redemption to occur on or about March 1, 1993.
 With net sales of $831 million (unaudited) in fiscal 1992, Homeland Stores, Inc. is the leading supermarket chain in the Oklahoma, southern Kansas and Texas panhandle region. Homeland operates 113 stores, approximately 54 percent of which are located in its three major metropolitan areas, Oklahoma City; Tulsa, Okla.; and Amarillo, Texas and a 600,000 square foot warehouse and distribution center in Oklahoma City. Homeland estimates that in 1992 it accounted for approximately 26 percent of total supermarket sales in its market region. Homeland Stores, Inc. was formed in 1987 by Clayton, Dubilier & Rice, Inc., a New York-based private investment firm, to acquire the Oklahoma division of Safeway, Inc.
 A notice of redemption will be mailed in the near future to holders of the subordinated notes.
 -0- 2/12/93
 /CONTACT: William J. Jenks of Broadgate Consultants, 212-229-2222, for Homeland Stores/


CO: Homeland Stores, Inc. ST: Oklahoma IN: REA SU:

TS-TM -- NY042 -- 6259 02/12/93 15:50 EST
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Publication:PR Newswire
Date:Feb 12, 1993
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