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THE HOME DEPOT ACQUIRES SEVEN HOMEBASE CHICAGO AREA STORE LOCATIONS FROM WABAN

 ATLANTA, Nov. 16 /PRNewswire/ -- The Home Depot (NYSE: HD), America's largest home improvement retailer, today announced the acquisition of seven Chicago store locations from Waban.
 It is acquiring five store leases and will purchase two store sites (one with an existing store building) from Waban Inc.'s (NYSE: WBN) HomeBase home improvement retail division which is leaving the Chicago market. Financial terms of the agreement, which take effect on Jan. 27, 1994 were not disclosed.
 The stores and sites are located in Niles, Bedford Park, Calumet City, Darien, Orlando Park, Joliet, Ill.; and Hobart, Ind.
 "We're extremely enthusiastic about this opportunity to accelerate our entry into the Midwest," said Home Depot Chairman and CEO Bernard Marcus. "With its dense concentration of older housing stock in a harsh climate as well as Midwesterners' strong home ownership and home improvement ethic, Chicago has the potential to rank among our best markets. Its demographics seem as favorable as those in the Northeast, where we have been highly successful."
 The Home Depot is also completing separate real estate transactions for stores at three other metro Chicago sites -- in Evanston, Broadview, Ill., and in the city of Chicago. The Home Depot plans to open approximately five stores in metropolitan Chicago by the end of fiscal 1994.
 By the end of fiscal 1997, the company plans to be operating a total of approximately 25 stores in the Chicago area, 72 stores in the Midwest, and 645 overall.
 Atlanta-based Home Depot currently operates 243 full-service, warehouse-style stores in 21 states averaging approximately 99,000 square feet. The stores sell more than 30,000 different kinds of a building materials, home improvement products and lawn and garden supplies which are sold primarily to do-it-yourselfers but also to home improvement, construction and building maintenance professionals.
 Founded in 1978, The Home Depot is now widely regarded as the leading retailer in the home improvement industry. The company is also noted for its progressive corporate culture which values decentralized management, entrepreneurial innovation, and high levels of employee empowerment and stock ownership. Its stock is traded on the New York Stock Exchange under the symbol, "HD," and is included in the Standard & Poor's index.
 -0- 11/16/93
 /CONTACT: Lonnie Fogel, director-Public Relations, The Home Depot, 404-431-2666/
 (HD WBN)


CO: The Home Depot; Waban Inc. ST: Georgia, Illinois IN: REA SU: TNM

BR-TG -- AT002 -- 4866 11/16/93 08:03 EST
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Publication:PR Newswire
Date:Nov 16, 1993
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