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- Kinney Drugs Inc. announced it has entered into a letter of intent to purchase Vincent's Drug & Variety located at 80 South Main Street in Waterbury VT. The acquisition is scheduled to take place in early January 2010.

"Everyone at Kinney Drugs is excited at the prospect of welcoming Vincent's Drug employees and customers into our family" said Bridget-ann Hart, President and COO, Kinney Drugs. "It is important to us that this transition be as smooth as possible for both Vincent's Drug customers and its employees. We will go out of our way to accommodate the needs of all who are affected by this change. This acquisition is a great opportunity for Kinney Drugs. Vincent's Drug represents an ideal fit for the Kinney family and will complement our existing stores in nearby markets" added Ms. Hart.

Vincent's Drug has been a multi-generational, family owned business for over 98 years. Since 1971 John Vincent, R.Ph has served the Waterbury community; prior to 1971 John's uncle and father ran the local drug store.

With his decision to sell, Mr. Vincent wanted to ensure that the buyer shared his commitment to his patients, customers, and employees. "Kinney Drugs was a natural fit," said Mr. Vincent. "The values, health programs and services, and community involvement of our two companies are very much aligned. I whole heartedly trust the people of Kinney Drugs to provide the same level of caring that Washington County has become accustomed to from Vincent's Drug & Variety."

Mr. Vincent has lived in Waterbury all his life and enjoys fly fishing and railroading. "Riding trains has always been a big hobby of mine of over the years. I am looking forward to doing a little bit more of both," said owner John Vincent. In addition, Vincent's Drug & Variety recently received an award for Vermont & New England Regional Family-Owned Business of the Year. While Mr. Vincent will be retiring after the acquisition, he will continue working at the store for several months during the transition.

With the addition of the Waterbury, V.T. location, Kinney Drugs Inc. will operate 91 stores making it the 5th largest drug store chain in the country. Kinney will work hard to be a good neighbor in the community by continuing to provide outstanding pharmacy and customer service. Kinney will offer free prescription delivery to the community, easy prescription transfer, telephone and on-line refill services and advise on over-the-counter
medication and other healthcare needs. Kinney also offers free Life Vials; a vial that contains information on a person' medical conditions, medications and other important information needed by emergency first responders in the event of an emergency.

In addition, community residents will have access to the KinneyCare Discount Prescription Plan, a program designed by Kinney Drugs to make prescription medications more affordable to people without insurance or those who have insufficient insurance. The plan offers more than 350 generic prescriptions at $11.99 for a 90-day supply, or less than 14 cents per day.

About Kinney Drugs

Kinney Drugs is a leading community pharmacy and retail business. Founded in 1903 by Burt Orrin Kinney, the organization has grown into an employee owned company with a network of 91 stores in central and northern New York and Vermont. Many are freestanding units offering drive-through pharmacy services and digital photo developing; all have free prescription delivery and online refill services. Kinney Drugs operates its own distribution warehouse to service its retail locations.

The company also operates three divisions that bring healthcare services to customers outside of the retail environment. These include ProAct, Inc., a full service prescription benefit management company, HealthDirect institutional pharmacy services and HealthDirect mail order pharmacy services. Kinney Drugs is an employee-owned company headquartered in northern New York. For more information, visit www.kinneydrugs.com.