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REVCO NAMES HAGAN SENIOR VICE PRESIDENT OF REAL ESTATE

 TWINSBURG, Ohio, June 15 /PRNewswire/ -- Revco D.S., Inc. (NYSE: RXR) today announced that James J. Hagan, formerly vice president and treasurer, has been promoted to senior vice president of real estate. He succeeds Marvin J. Solganik, who has become a consultant to the company, responsible for the development of new business.
 Hagan will report directly to Carl A. Bellini, executive vice president of marketing and stores.
 As senior vice president of real estate, Hagan will be responsible for all real estate operations, including new store openings, acquisitions, leasing, construction, and all other real estate activities for the 1,190 Revco drug stores, corporate headquarters and six distribution centers.
 Bellini said, "I am very happy to promote Jim to this post. His proven strategic and financial abilities will serve us well as we pursue opportunities for increased market share."
 He added, "I want to thank Marvin Solganik for so much dedication and hard work in 25 years at Revco. He developed our real estate operations to carry Revco through a tough restructuring and much change, and I look forward to his continuing contributions."
 Hagan joined Revco in May 1987 as assistant treasurer, responsible for all cash and banking activities. In September 1988 he was promoted to vice president and treasurer, responsible for the direction and management of Revco's treasury activities. He oversaw all banking, credit, risk management and investment activities, and ensured that all of Revco's financial transactions met corporate objectives and regulatory requirements.
 Hagan was one of the architects of the geographic reorganization the company completed in 1990, in which Revco's operations were concentrated in nine contiguous eastern states where the chain can achieve market dominance.
 Before joining Revco, Hagan served for two years as director of treasury services for The Great Atlantic and Pacific Tea Company, and was previously employed as treasury analyst at Teachers Insurance and Annuity Association, and as manager of cash management for Jamesway Corporation.
 Hagan is a graduate of Seton Hall University with a bachelor of science degree in accounting. He also holds a master's degree in business administration from Fairleigh Dickinson University, and a juris doctorate degree from Seton Hall Law School. He and his wife, Kim, have two children and are residents of Hudson, Ohio.
 Revco, based in Twinsburg, Ohio, operates 1,190 drug stores in nine contiguous eastern states, filling more than 50 million prescriptions a year. The company has annual sales of $2.2 billion.
 -0- 6/15/93
 /CONTACT: Diana Lueptow of Revco D.S., Inc., 216-425-9811, ext. 6145/
 (RXR)


CO: Revco D.S., Inc. ST: Ohio IN: REA SU: PER

KL -- CL013 -- 2214 06/15/93 14:30 EDT
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Publication:PR Newswire
Date:Jun 15, 1993
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