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REVCO TO ACQUIRE 21 STORES IN PURCHASE OF BEGLEY AND CORNWELL CHAINS

 TWINSBURG, Ohio, March 3 /PRNewswire/ -- Revco D.S., Inc. (NYSE: RXR) has signed a sales agreement by which the company will purchase and operate as Revco stores, 12 Begley drug stores in eastern Tennessee and western Virginia. Revco also will purchase the pharmacy files of the nine other Begley stores and consolidate these into nearby Revco stores. In addition, Revco has signed a sales agreement to acquire nine Cornwell drug stores in North Carolina.
 "The acquisition of these stores is consistent with our strategy for growth," said D. Dwayne Hoven, Revco president and chief operating officer. "They will increase our market coverage and make Revco services more convenient and accessible to these customers."
 With the completion of these acquisitions, Revco will have 273 stores in North Carolina, 79 in Tennessee and 186 in Virginia. The Begley transaction is expected to close on or about March 8, 1993; the Cornwell transaction on or about March 7.
 Revco will purchase and operate as Revco drug stores the Begley stores in Knoxville, Kingsport, and one in Oak Ridge, Tenn.; and in Bristol, Harrisonburg, Norton, Big Stone Gap, and Staunton, Va. In addition, Revco will purchase pharmacy files and inventory from Begley stores in Elizabethton, Kingsport, Morristown, Oak Ridge and Sevierville, Tenn.; and in Lynchburg, Danville and Bristol, Va.
 In North Carolina, Revco will operate nine former Cornwell stores in Morganton, Davidson, Lincolnton, Maiden, Shelby, Dallas, Kings Mountain, Stanley and Conover.
 Customers of all former Begley and Cornwell stores will now enjoy Revco services -- including an advanced patient counseling program -- and products. Through Prescription Access Link, an interactive pharmacy computer system, a Revco pharmacist can provide prescription information, counsel patients on medication usage, and provide a personalized Patient Advisory Leaflet to advise consumers on the proper use of their prescribed medication.
 Revco currently operates more than 1,160 Revco drug stores in nine contiguous eastern states, and fills more than 46 million prescriptions annually. Based in Twinsburg, Ohio, the company has annual sales in excess of $2.1 billion.
 -0- 3/3/93
 /CONTACT: Diana Lueptow of Revco D.S., Inc., 216-425-9811, ext. 6145; or investor relations, ext. 2811/
 (RXR)


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

KK -- CL010 -- 2560 03/03/93 15:00 EST
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Publication:PR Newswire
Date:Mar 3, 1993
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