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QFC ANNOUNCES DIVIDEND AND SHARE REPURCHASE PROGRAM

 BELLEVUE, Wash., April 27 /PRNewswire/ -- Quality Food Centers Inc. (NASDAQ: QFCI) today announced that its board of directors declared its first ever regular quarterly cash dividend of 5 cents per share for an annual rate of 20 cents per share of the company's common stock, payable on May 28 to shareholders of record as of May 14.
 The board also authorized a share repurchase program for the company to make open market purchases from time to time of up to 1,000,000 shares of the outstanding common stock of the company.
 Stuart Sloan, QFC's chairman and chief executive officer, said, "With our strong cash position, no long-term debt, the significant cash being generated by operations, and the company's significant debt capacity and access to capital, we believe both of these programs are in the best interest of our shareholders." Stuart continued, "We remain committed to our aggressive expansion plans and these programs will provide a more effective use of excess cash flow for our shareholders."
 QFC's cash and cash equivalents totaled $33.4 million on March 20, the end of its first quarter, and the company has approximately 19.3 million shares of common stock outstanding. The company has no long-term debt.
 QFC is the largest independent supermarket chain in the Seattle/ Puget Sound area. QFC has served this area for 38 years and today operates 36 stores. QFC's first priority is satisfying the needs of customers by providing superior service, high-quality perishables and competitive prices at convenient store locations.
 -0- 4/27/93
 /CONTACT: Marc Evanger, vice president, chief financial officer, of Quality Food Centers, 206-455-3761/
 (QFCI)


CO: Quality Food Centers Inc. ST: Washington IN: REA SU: DIV

SW -- SE006 -- 1382 04/27/93 12:30 EDT
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Publication:PR Newswire
Date:Apr 27, 1993
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