SALT LAKE CITY, April 2 /PRNewswire/ -- American Stores Company
(NYSE: ASC) announced today that the secondary offering of 15.4 million shares
of American Stores Company common stock being sold by the family of
L.S. Skaggs and certain family and charitable trusts has been priced at
$43 per share.  The closing of the secondary offering and the Company's
repurchase of an additional 12.2 million shares of its common stock from the
selling stockholders is scheduled to occur on April 8, 1997.  In addition, the
Company has granted the underwriters for the offering option to purchase an
additional 2.3 million shares to cover over-allotments.  If the option is
exercised, these additional shares would be primary shares to be issued by the
Company.
    "The Company plans to finance the share repurchase, which will aggregate
$550 million, initially through its bank credit facilities, which were
increased on March 28, 1997 to $2 billion.  Subject to market conditions, the
Company expects to refinance such indebtedness through public equity and/or
debt issuances over the next six to twelve months.
    Goldman, Sachs & Co. is acting as book running lead manager for the
offering.  Goldman, Sachs & Co. and J.P. Morgan & Co. are acting as joint lead
managers.  The U.S. Underwriters are Goldman, Sachs & Co., J.P. Morgan & Co.,
Donaldson, Lufkin & Jenrette Securities Corporation, Morgan Stanley & Co.
Incorporated and Smith Barney Inc.  The International Underwriters are Goldman
Sachs International, J.P. Morgan Securities Ltd., Donaldson, Lufkin & Jenrette
Securities Corporation, Morgan Stanley & Co. International Limited and Smith
Barney Inc.
    American Stores Company is one of the nation's largest food and drug
retailers.  It operates 1,695 stores in 27 states including 166 jointly
operated combination stores which are counted in both Food Store and Drug
Store totals.  Its principal retail operations include Lucky Stores, Jewel
Food Stores, Acme Markets, Jewel Osco, Osco Drug and Sav-on.

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