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KROGER SUPPORTS PRESIDENT BUSH'S MEDICARE REFORM PRINCIPLES
CINCINNATI, OH, March 4, 2003 - The Kroger Co. (NYSE: KR) today announced it supports the Medicare reform principles announced today by President Bush.
The framework described by President Bush includes saving seniors 10-25% on the cost of prescription drugs. The savings will come from a discount prescription drug card program that pools the buying power of seniors to access discounts from pharmaceutical manufacturers.
"Seniors will benefit from competition in the administration of the Medicare drug benefit," said Lynn Marmer, Kroger's group vice president for corporate affairs. "Kroger stands ready to work with the Administration and Congress to move forward on the modernization of Medicare, including providing a meaningful prescription drug benefit for all seniors that offers them a choice of where to fill their prescription needs."
Kroger is the nation's seventh-largest pharmacy operator, with more 1,750 pharmacies. In 2001, Kroger filled more than 105 million prescriptions.
Headquartered in Cincinnati, Ohio, Kroger is one of the nation's largest retail grocery chains. At the end of the third quarter of fiscal 2002, the Company operated (either directly or through its subsidiaries) 2,461 supermarkets and multi-department stores in 32 states under approximately two dozen banners including Kroger, Ralphs, Fred Meyer, Food 4 Less, King Soopers, Smith's, Fry's and Fry's Marketplace, Dillons, QFC and City Market. Kroger also operates (either directly or through its subsidiaries) 783 convenience stores, 441 fine jewelry stores, 341 supermarket fuel centers and 41 food processing plants. For more information about Kroger, please visit our web site at www.kroger.com.
| Kroger Contacts:
Media Contact: Gary Rhodes
(513) 762-1304
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