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Neil McDonald: 1-877-363-3772 • Fax: 432-333-7858 • info@odessaecodev.com [mailto:info@odessaecodev.com] click logo to return to home page back to News Releases Family Dollar To Break Ground On 7th Distribution Center (ODESSA, TEXAS – August 16, 2002) The Odessa Development Corporation announced today that Family Dollar Stores, Inc., one of the fastest growing retail chains in the United States, has chosen Odessa for its Texas Distribution Center. The groundbreaking ceremony for the new facility was held in Odessa at the future site at Interstate 20 and John Ben Shepperd Parkway at 10:30 a.m. Friday, August 16th. Representatives from across the state, as well as local city officials were present to welcome Family Dollar to the city. “We are very pleased to welcome Family Dollar to Odessa,” said Mayor Larry Melton. “The economic impact to our community is incredible, with taxable spending alone expected to exceed $130 million over the next ten years.” Family Dollar Stores, Inc. conducted a site search for this seventh distribution center, specifically planned to serve their growing Texas market. This facility will also serve as the supply center for stores located in New Mexico, Arizona and Colorado. The Company currently operates six automated, full-service distribution centers in Matthews, North Carolina; West Memphis, Arkansas; Front Royal, Virginia; Duncan, Oklahoma; Morehead, Kentucky and Maquoketa, Iowa. “It is no mistake that corporate America has chosen Texas, and more specifically Odessa,” said Jeff Moseley, Executive Director for the Texas Department of Economic Development. “Their new distribution center is a real asset to our state. In fact, over the next ten years, salaries to be paid to direct, indirect and induced workers are expected to exceed $350 million.” Family Dollar is expected to employ up to 500 workers in the new distribution center with an annual payroll of up to $10 million, and the distribution center building will be the equivalent to 20 acres under roof. During the last ten fiscal years, over 2,300 new stores have been added to the chain, of which more than 1,500 were added in the last five fiscal years. During the fiscal year ending August 31, 2002, Family Dollar will open approximately 525 stores. The aggressive store expansion program will continue in fiscal 2003, when the Company plans to open approximately 575 stores. In announcing plans for the new distribution center, R. David Alexander, Jr., Executive Vice President and Chief Operating Officer for Family Dollar, stated, “Odessa, Texas is an ideal location for our seventh distribution center. Family Dollar has a heavy concentration of stores in Texas and the Southwest and the Company continues to add new stores at a rapid pace as part of an aggressive store expansion program. This location offers outstanding access to major highways, and the community has good availability of labor and an excellent work ethic. Most importantly, all of us who have had the opportunity to work with the City of Odessa, Ector County, the Chamber of Commerce, ODC, OIDC, Odessa Junior College, Texas Workforce Development, Ector County Hospital District, Ector County Schools and other officials, have been impressed with their commitment to economic development and growth. There has been a real spirit of cooperation, and we have been made to feel welcome. All of us at Family Dollar look forward to becoming an active member of the local communities.” Family Dollar Stores, Inc. operates a rapidly expanding chain of 4,570 stores in 40 states ranging as far northwest as South Dakota, northeast to Maine, southeast to Florida and southwest to Arizona. The Company’s merchandising concept is to provide customers with good values in low cost, basic merchandise for family and home needs. Family Dollar, headquartered in Matthews, North Carolina, is a publicly held corporation with its Common Stock listed on the New York Stock Exchange under the ticker symbol FDO.