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MEGAFOODS STORES, INC. ANNOUNCES TERMINATION OF PROPOSED FURR'S SUPERMARKETS, INC. ACQUISITION

 MESA, Ariz., May 15 /PRNewswire/ -- Megafoods Stores, Inc. (NASDAQ: MEGF) today announced that its proposed acquisition of Furr's Supermarkets, Inc., based in Albuquerque, N.M. is not proceeding. The Furr's Board of Directors decided that it was not in the best interest of its shareholders. All discussions between the two parties have been terminated.
 Dean Miller, chief executive officer of Megafoods Stores, Inc. indicated that "we are disappointed that Furr' board determined that the terms of the acquisition outlined in our letter of intent were no longer acceptable to them although we were prepared to proceed with the acquisition on the agreed terms. We remain excited about the New Mexico and West Texas markets in which Furr's operates and intend to aggressively expand the Megafoods warehouse concept to these markets in the near future."
 Miller added that "we are continuing to pursue our store expansion plan to open at least 12 stores in the remainder of 1993 and 15 in 1994. We also continue to review strategic acquisitions of other stores as opportunities arise."
 Megafoods currently operates 23 warehouse stores in its current marketing areas in Arizona, Nevada and Southern California.
 -0- 5/15/93
 /CONTACT: Dean Miller, 619-431-7213 or Jack Walker, 602-957-3152, both of Megafoods Stores/
 (MEGF)


CO: Megafoods Stores; Furr's Supermarkets ST: Arizona IN: REA SU: TNM

WB -- NYSA008 -- 8923 05/15/93 19:49 EDT
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Date:May 15, 1993
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