Greg Drew to Head Rite Aid Health Solutions, Rite Aid's Pharmacy Benefit Management Company

In this new role, Drew will be responsible for all aspects ofmanagement and operation of Rite Aid Health Solutions, formed earlierthis year to provide pharmacy benefit management services toemployers, health plans and insurance companies. He reports to Mark deBruin, Senior Vice President Pharmacy Services.

Drew, 48, a licensed pharmacist with more than 20 years of retailpharmacy experience, joined Rite Aid in 1994, serving until 1999 invarious positions for Rite Aid's former pharmacy benefit managementcompany Eagle Managed Care. He was then named Director, PharmacyContracting for Rite Aid, where he was responsible for securing,administering and marketing contracts with brand pharmaceuticalmanufacturers. Promoted to Vice President of Pharmacy Health Servicesin June 2000, Drew spearheaded the development and implementation of anumber of key Rite Aid pharmacy initiatives, including the company'smedication therapy management service called Rite Care, the Rite AidDiabetes Initiative in partnership with the American DiabetesAssociation and other disease state management programs. Drew was alsointegral in developing managed care relationships relating to pharmacymanagement and wellness initiatives.

"Greg brings the perfect mix of experience to our new PBM. Besideshis knowledge of pharmacy benefit management and other aspects ofmanaged care, he has a successful track record in developingstate-of-the art clinical services programs," said de Bruin. "Underhis leadership, Rite Aid Health Solutions will provide a low-costalternative to other offerings in the marketplace as well as developclinical programs that focus on maintaining and improving the healthof plan members, which also saves on health care costs."

"I am very excited to lead Rite Aid's reemergence as an innovativebenefits manager. With a unique perspective on managing wellness andproviding effective cost management, Rite Aid Health Solutions willmeet an emerging need in the marketplace," Drew said. He said Rite AidHealth Solutions expects to have a national sales and marketing forcefor the PBM in place in the Fall.

Before joining Rite Aid, Drew served as pharmacy manager anddirector of pharmacy operations for a variety of retail pharmacyoperations in Maine from 1981 to 1994. In 1994, he served as a managedcare health care consultant to the Senate Majority Leader of the MaineState Senate.

For the past ten years, Drew has been a featured speaker onvarious aspects of managed care at seminars and symposiums nationwide.He has also been a visiting lecturer in Managed Care Pharmacy andDisease Management at the University of Pittsburgh and the Universityof Maryland.

Drew serves on the American Diabetes Association Board ofCorporate Advisors, Managed Care Pharmacy and Therapeutics Committeeand the Medication Therapy Management Consensus Panel of the AmericanPharmacists Association and the National Association of Chain DrugStores Foundation. He has been active in various initiatives of theNational Association of Chain Drug Stores and the Academy of ManagedCare Pharmacy. He holds a bachelor of science degree in pharmacy fromthe Massachusetts College of Pharmacy.

Rite Aid Corporation is one of the nation's leading drugstorechains with annual revenues of $16.8 billion and approximately 3,350stores in 28 states and the District of Columbia. Information aboutRite Aid, including corporate background and press releases, isavailable through the company's website at www.riteaid.com.

This press release may contain forward-looking statements, whichare subject to certain risks and uncertainties that could cause actualresults to differ materially from those expressed or implied in theforward-looking statements. Factors that could cause actual results todiffer materially from those expressed or implied in suchforward-looking statements include Rite Aid's high level ofindebtedness, its ability to make interest and principal payments onits debt and satisfy the other covenants contained in its seniorsecured credit facility and other debt agreements, its ability toimprove the operating performance of existing stores in accordancewith long term strategy, its ability to hire and retain pharmacistsand other store personnel, the outcomes of pending lawsuits andgovernmental investigations, competitive pricing pressures, continuedconsolidation of the drugstore industry, the efforts of third-partypayors to reduce prescription drug reimbursements and encourage mailorder, changes in state or federal legislation or regulations, thesuccess of planned advertising and merchandising strategies, generaleconomic conditions and inflation, interest rate movements, access tocapital and our relationship with our suppliers. Consequently, all ofthe forward-looking statements made in this press release arequalified by these and other factors, risks and uncertainties. Readersare also directed to consider other risks and uncertainties discussedin documents filed by Rite Aid with the Securities and ExchangeCommission. Forward-looking statements can be identified through theuse of words such as "may", "will", "intend", "plan", "project","expect", "anticipate", "could", "should", "would", "believe","estimate", "contemplate", and "possible".