COLUMBUS, Ohio, Nov. 3 /PRNewswire/ -- BANC ONE CORPORATION, Columbus,
Ohio (NYSE: ONE) and Rite Aid Corporation (NYSE: RAD; PSE), headquartered in
Camp Hill, Pennsylvania, jointly announced today that they have entered into
an agreement for BANC ONE to install Rapid Cash automated cash dispensing
machines in many Rite Aid drugstores.
    "Rapid Cash machines are a great addition to the range of customer
services we now offer in all Rite Aid drugstores," said Tim Noonan, President
and Chief Operating Officer of Rite Aid Corporation.  "We chose BANC ONE
because of its well-known expertise in ATM management.  This is very
consistent with our focus on becoming a superior convenience store for women,"
Noonan continued.
    The arrangement with BANC ONE includes the installation of up to 2,000
Rapid Cash machines in Rite Aid drugstores by April 1998.  BANC ONE currently
has more than 3,000 Rapid Cash machines installed and has contracts to install
more than 5,000 Rapid Cash machines during the next 12 months with other
retail partners across the country.
    Charles W. Held, Sales Manager for Banc One's Retail Distribution Group,
said, "Our objective is to assist retailers on a national and regional level
by significantly increasing the number of locations where consumers can access
cash."
    Rite Aid Corporation, with 3,963 stores in 31 states, is one of the
nation's largest retail drugstores chains.  The company's stores offer a full
range of pharmacy services.  Additional services include one-hour photo,
convenience foods and select business services as well a wide selection of
health, beauty, and seasonal merchandise.  Rite Aid also operates Thrifty
Payless, as well as K&B and Harco drugstores.  Information about Rite Aid
Corporation financial results and its products and services can be accessed on
the Internet at:  http://www.riteaid.com.
    BANC ONE CORPORATION had total assets of $113.1 billion and common equity
of $9.9 billion at September 30, 1997.  BANC ONE currently operates
approximately 1,200 offices in 12 states.  BANC ONE confirmed that an $.875
per share cash dividend will be paid on Series C Convertible Preferred stock
on December 31, 1997 to shareholders of record as of December 15, 1997.
Information about BANC ONE can be accessed on the Internet at:
http://www.bankone.com and through InvestQuest at http://www.investquest.com
or Fax-on-demand: 614-844-3860.

Link to this page: