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OFFICEMAX COMPLETES ACQUISITION OF 17.5-PERCENT STAKE IN CORPORATE EXPRESS

 CLEVELAND, Oct. 26 /PRNewswire/ -- OfficeMax, Inc. (a 92.7-percent-owned unit of Kmart Corporation (NYSE: KM)) said today that it has completed its previously announced transaction to acquire a 17.5-percent stake in Denver-based Corporate Express for approximately $23.5 million in cash.
 OfficeMax operates over 300 office product superstores in 123 markets in 38 states. Corporate Express, a contract stationer with facilities in Arizona, California, Colorado and Washington State, primarily serves larger companies with 100 or more employees.
 As a part of this transaction, Michael Feuer, president and CEO of OfficeMax, has been elected to the board of directors of Corporate Express.
 -0- 10/26/93
 /CONTACT: Michael Feuer, president and CEO of OfficeMax, 216-295-6419/
 (KM)


CO: OfficeMax, Inc.; Corporate Express; Kmart Corporation ST: Ohio, Colorado IN: REA SU: TNM

ML -- DE008 -- 6779 10/26/93 09:47 EDT
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Publication:PR Newswire
Date:Oct 26, 1993
Words:139
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