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PACE MEMBERSHIP WAREHOUSE TO OPEN HUNDREDTH CLUB

 PACE MEMBERSHIP WAREHOUSE TO OPEN HUNDREDTH CLUB
 ENGLEWOOD, Colo., Sept. 18 /PRNewswire/ -- There are a hundred


reasons why today is special for PACE Membership Warehouse Inc. (PACE), according to Charles Steinbrueck, president and chief executive officer of PACE.
 Today marks the opening of PACE's hundredth warehouse nationwide. The new warehouse club, opening in Natick, Mass., also marks PACE's entry into another state. PACE now operates in 28 states, more than any other warehouse club. Plans call for PACE to operate 115 warehouses in 29 states by year's end.
 "This certainly marks a milestone for us. And, as we continue to grow and expand our operations, we also will continue to maintain our focus on serving the needs of our members throughout the country," said Steinbrueck.
 PACE sells top-quality, name-brand merchandise at warehouse prices to its membership, comprised primarily of small businesses and qualified individuals. The Colorado-based PACE was founded in 1983 with one warehouse and 15 employees. Today, the company has 18,000 employees nationwide. Last year, it generated revenues of $3.6 billion. Projected revenues for 1992 are $5 billion.
 In 1989, PACE became a wholly owned subsidiary of Kmart Corp. (NYSE: KM). Kmart stock is listed on the New York, Midwest and Pacific Stock Exchanges. Its trading symbol is KM.
 The warehouse club industry is one of the fastest growing segments in retail, with annual growth of over 25 percent in each of the last five years. The trade journal "Discount Store News" recently projected that industry volume for 1992 will reach $35 billion, a 29 percent increase over last year.
 -0- 9/18/92
 /CONTACT: Doug Hock, 303-843-8543, or Jim McKamy, 508-650-9105, both of PACE Membership Warehouse/
 (KM) CO: PACE Membership Warehouse Inc.; Kmart Corp. ST: Colorado IN: SU:


MC -- DV001 -- 0975 09/18/92 09:01 EDT
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Date:Sep 18, 1992
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