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John M. Baumer Joins Rite Aid Board of Directors

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^{Published in Stocks and Investing on Thursday, May 12th 2011 at 7:20 GMT by Market Wire}  

CAMP HILL, Pa.--([ BUSINESS WIRE ])--The Board of Directors of Rite Aid Corporation (NYSE:RAD) announced today that John M. Baumer, a partner with the private equity firm of Leonard Green & Partners, LP, has joined the Board. He replaces Jon Sokoloff, Managing Partner of Leonard Green & Partners, who has resigned from the Board.

Leonard Green & Partners is an affiliate of Green Equity Investors III, L.P. which has the right to elect a Director under an agreement with Rite Aid regarding Green Equity Investora™s purchase of Rite Aid preferred stock in October 1999. Green Equity Investors has indicated it will re-elect Mr. Baumer for a one-year term at Rite Aida™s upcoming annual stockholdera™s meeting on June 23.

Prior to joining Leonard Green & Partners in 1999, Mr. Baumer served as a Vice President in the Corporate Finance Division of Donaldson, Lufkin and Jenrette Securities Corporation (DLJ) in Los Angeles. Before joining DLJ in 1995, Mr. Baumer worked at Fidelity Investments and Arthur Andersen LLP. He currently serves on the Board of Directors of Lesliea™s Poolmart, Inc., Prospect Medical Holdings and VCA Antech, Inc. A 1990 graduate of the University of Notre Dame, he received his Mastera™s in Business Administration from the Wharton School at the University of Pennsylvania.

Rite Aid is one of the nationa™s leading drugstore chains with more than 4,700 stores in 31 states and the District of Columbia with fiscal 2011 annual revenues of $25.2 billion. Information about Rite Aid, including corporate background and press releases, is available through Rite Aida™s website at [ www.riteaid.com ].