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PIC 'N' SAVE TAKES ON NEW IDENTITY IN SEVEN STATES

 PIC 'N' SAVE TAKES ON NEW IDENTITY IN SEVEN STATES
 LOS ANGELES, Feb. 19 /PRNewswire/ -- In a move designed to more


effectively project the company's unique retailing approach, Pic 'N' Save Corp. (NASDAQ: PICN), the retail leader in close-out merchandise, is continuing with the roll-out of its new name, Mac Frugal's Bargains . Close-outs. Sixty-one stores, stretching from Texas east across the Sunbelt to Florida, were successfully launched with the new name last fall.
 Over the next few months, the name change will become effective in 60 more stores across seven states (Arizona, Colorado, Utah, Nevada, Idaho, New Mexico and Northern and Central California). By the end of June, two-thirds of the chain's 193 stores will be doing business as Mac Frugal's Bargains . Close-outs. The stores located in Southern California (the greater Los Angeles and San Diego markets) will continue to operate as Pic 'N' Save. The name change will also apply to the corporate name, subject to shareholder approval at the upcoming annual meeting.
 "It's just a new name," commented Len Williams, president and chief executive officer. "We will continue to offer an ever-changing assortment of first-quality, name-brand merchandise at bargain prices."
 According to Williams, the name Mac Frugal's Bargains . Close-outs more effectively reflects the nature of the business. "When we asked our customers to describe what Mac Frugal's Bargains . Close-outs meant to them, they said the name evoked an image of bargains, savings and thriftiness."
 "Consumers today want real value for their money," added Eileen Hupp, assistant vice president of marketing for Pic 'N' Save Corp. "They want to return to the values of the 1950s. They want to feel that they've gotten a dollar's worth of goods for every dollar spent -- just like they did in the 1950s."
 Mac Frugal's Bargains . Close-outs gives customers real value. "Our customers tell us that they feel good when they shop at our store. They say that they feel smart, thrifty -- even frugal -- because they get real, old-fashioned 1950s-type value at Mac Frugal's Bargains . Close- outs," Hupp explained.
 The theme for the name change celebration will be "Return to the Values of 1950s." Events will include the appearance of a classic 1958 Ford Fairlane convertible, the Mac Frugal's Bargains . Close-outs Value Mobile; 1950s characters; music; contests; give-aways; and of course "1950s values." In addition, Mac Frugal's Bargains . Close-outs will return some value to the community by donating 5 percent of its sales, through the Salvation Army, over each grand opening weekend to feed the hungry and homeless.
 Unique in its industry, Mac Frugal's Bargains . Close-outs specializes in selling first-quality merchandise obtained through manufacturer close-outs, overruns, discontinued lines and packaging changes. An ever-changing assortment of merchandise, ranging from clothes, toys, household goods and cosmetics, are typically sold at 40 to 70 percent off regular retail prices.
 -0- 2/19/92
 /NOTE: Not affiliated with Pic N'Save stores of Florida and Georgia/
 /CONTACT: Eileen Hupp, 310-761-4214, Debbi Hall, 310-761-4385, or Mary Wright, 310-761-4342, all of Pic 'N' Save Corp./
 (PICN) CO: Pic 'N' Save Corp.; Mac Frugal's Bargains . Close-outs ST: California IN: REA SU:


JL-AL -- LA027 -- 0665 02/19/92 17:17 EST
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Publication:PR Newswire
Date:Feb 19, 1992
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