News Release
 July 25, 2005
CONTACT: Denny Hopkins

Looks to Sell 31 Stores

Buffalo, NY - Tops Markets announced today that it will seek buyers for its 31 stores located in Eastern New York and the Adirondack region. Tops announced that it has reached agreement to sell six of the 31 Eastern New York stores to Price Chopper. The closing of the transaction is expected early in the 4th quarter.

The decision to sell the 31 stores is part of Tops' long-term strategy to redefine its core markets. The stores stretch from the northern Adirondack area of Champlain through to Rome and Utica, New York in eastern New York State (see attached list).

Tops has recently redefined its core New York markets as those west of I-81 in New York state, through to the state's western border. Tops will reinvest the capital raised, particularly in its stores in Western New York, where updates to its new prototype are planned for several of its current locations.

The stores included in the Price Chopper sale include:

Location Open Date Size (sq. ft.) Fulton, New York 5/76 52,000 Oswego, NY 11/88 50,000 Oneida, NY 12/81 47,000 Owego, NY 3/98 46,000 Sidney, NY 9/01 46,000 Tupper Lake, NY 3/01 21,000

The remaining 25 stores will continue to operate until buyers can be found as Tops will seek the best possible outcome to protect the value of its business and for its associates.

Tops Markets, LLC, headquartered in Williamsville, NY is one of four retail operating companies under Ahold USA and is a division of Giant Food Stores in Carlisle, PA. Tops currently operates 152 Tops Markets, 2 Martin's Super Food Stores. With nearly 18,000 associates, Tops serves a three state market area. For more information about Tops Markets, visit the company's website at

Store List (not including stores sold to Price Chopper)

1. Norwich, 54 East Main Street, Norwich, NY 2. Hamilton, 100 Utica Street, Hamilton, NY 3. New Hartford, 50 Kellogg Road, New Hartford, NY 4. Utica, 1122 Mohawk Street, Utica, NY 5. Rome, 217 Erie Boulevard West, Rome, NY 6. Clinton, 55 Meadown Street, Clinton, NY 7. Corinth, 100 Main Street, Corinth, NY 8. Warrensburg, 3836 Main Street, Warrensburg, NY 9. Bolton Landing, Route 9N & Sagamore Road, Bolton, NY 10. Keeseville, 1716 Front Street, Keeseville, NY 11. Port Henry, 4308 Main Street, Port Henry, NY 12. Saranac Lake, 54 Church Street, Saranac Lake, NY 13. Indian Lake, Main Street SR 28, Indian Lake, NY 14. Lake Flower, 622 Lake Flower Avenue, Saranac Lake, NY 15. Elizabethtown, Court Street, Elizabeth, NY 16. Champlain, Route 9 & 11, Champlain, NY 17. Chestertown, 6308 NYS Route 9, Chestertown, NY 18. Peru, PO Box 8, Peru, NY 19. Ticonderoga, 1171 NYS Route 9N, Ticonderoga, NY 20. Lake Placid, 45 Hadjis Way, Lake Placid, NY 21. North Creek, Main Street, North Creek, NY 22. Ausable Forks, 24 Main Street, Ausable Forks, NY 23. Willsboro, 3 South Main Street, Willsboro, NY 24. Schroon Lake, 1103 US Route 9, Schroon Lake, NY 25. Whitehall, 180 Broadway, Whitehall, NY

7/25/2005 4:09 PM


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