GRAND UNION SHARES TO TRADE ON NASDAQ NATIONAL MARKET
WAYNE, N.J.--Aug. 10, 1995--The common stock of
The Grand Union Company will begin trading on
Monday (August 14) on
the NASDAQ National Market. Grand Union is a retail food company
operating 231 stores in six Northeastern states. Its new trading
symbol will be GUCO, which will replace its former OTC Bulletin
Board symbol of GDUN.
Roger E. Stangeland, Chairman of the Board, said "Grand Union's
NASDAQ listing represents yet another step in the overall recovery
process that has been accomplished by the Company's management
team." Grand Union emerged from bankruptcy on June 15.
Joseph J. McCaig, President and Chief Executive Officer, said
that Grand Union's entry into the NASDAQ National Market provides
brokers and others with immediate access to the best bid and ask
prices and other information about the Company's shares throughout
the trading day. Those prices will be available in more than
200,000 electronic terminals in brokers' offices throughout the
United States and the world. Trading data is also distributed
widely through wire services for selective dissemination by
newspapers and radio and television stations.
In addition to increased market visibility, NASDAQ offers Grand
Union the advantage of multiple market makers that compete to offer
the best bid and ask prices as opposed to a single specialist on the
floor of a stock exchange.
Grand Union, founded in 1872, is one of the nation's largest
regional retail food companies. Sales during its last fiscal year
ended April 1, 1995, were $2.4 billion. The Company serves some 3
million customers weekly and employs 16,000 people. It operates
retail food stores in Connecticut, New Hampshire, New Jersey, New
York, Pennsylvania and Vermont.
CONTACT: The Grand Union Company
Donald C. Vaillancourt, 201/890-6100