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Marsh: News Release
For Further Information Contact:
Douglas W. Dougherty
Chief Financial Officer
(317) 594-2627
For Immediate Release:
MARSH SUPERMARKETS, INC. INCREASES ITS
STOCK REPURCHASE AUTHORIZATION
Indianapolis, IN, May 25, 2000
Marsh Supermarkets, Inc. (NASDAQ: MARSA and MARSB) today increased
its authorization to repurchase Marsh Class A and Class B Common Stock
from $9 million to $12 million.
The Company originally announced the plan on August 2, 1994. To date,
the Company has repurchased approximately $8 million of the $12 million
authorized.
Stock purchases will be made from time to time in open market
transactions at prevailing prices. The per share price of Class A and
Class B Common Stock as of May 23, 2000 was $16.00 and $10.00, respectively.
Marsh currently has approximately 4,004,000 shares of Class A Common Stock
and 4,412,000 shares of Class B Common Stock outstanding.
Don Marsh, Chairman and Chief Executive Officer, said, "We are confident
in the long term future of Marsh and believe that the Company's shares
continue to be undervalued and represent a solid investment."
Marsh is a leading regional chain operating 70 Marsh and 23 LoBill
Foods supermarkets, 182 Village Pantry convenience stores and 1 Savin*$
limited selection every day low price store, in central Indiana and
western Ohio. The Company also operates Convenience Store Distributing
Company, a wholesale distributor serving 1,300 non-affiliated stores in
eight states, Crystal Food Services, a specialist in catering, business
cafeteria management, vending and concessions, and McNamara Florist
and Enflora -- Flowers for Business.
Ends.