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SMITH'S FOOD & DRUG CENTERS APPROVES STOCK REPURCHASE PLAN

 SMITH'S FOOD & DRUG CENTERS APPROVES STOCK REPURCHASE PLAN
 SALT LAKE CITY, Aug. 4 /PRNewswire/ -- Smith's Food & Drug Centers, Inc. (NYSE: SFD) announced its board of directors has approved a stock repurchase plan for its Class B Common Stock.
 The plan authorizes the Executive Committee of the company's board to repurchase shares as available on the open market when special market opportunities might arise. The board authorized the repurchase of up to three million shares over a five-year period.
 Jeffrey P. Smith, chairman and chief executive officer, indicated the shares repurchased would be held in the corporate treasury and be used for employee stock options, for the company's new Stock Bonus Plan and for other corporate purposes. The company will repurchase its own stock only when it has the available funds and when the potential return on assets by doing so makes such repurchase the wisest use of such funds among the alternatives then available.
 Smith's is a leading regional supermarket chain operating 112 stores in eight western states. Of these stores, 96 are large combination food and drug centers.
 -0- 8/4/92
 /CONTACT: Robert D. Bolinder or Matthew G. Tezak both of Smith's Food & Drug Centers, 801-974-1400/
 (SFD) CO: Smith's Food & Drug Centers, Inc. ST: Utah IN: REA SU: DIV


MC -- DV003 -- 6453 08/04/92 07:31 EDT
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Publication:PR Newswire
Date:Aug 4, 1992
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