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Updated Jan 2003

© 2002 Mississippi Market
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Store Will Continue To Operate Through Leaseback Agreement

Saint Paul, Minn. -- December 31, 2002 --

Mississippi Market Natural Foods Cooperative, which operates two full-service grocery stores in Saint Paul, announced today it has completed the sale of its building and property located at 1810 Randolph Avenue to Saint Paul Academy and Summit School (SPA). The Randolph Avenue location of Mississippi Market will continue to operate under a 5-year lease with SPA. No specific plans have been made for the use of the property by SPA after the lease expires. In 1999, Mississippi Market opened its second store at the corner of Selby and Dale. The Selby location has played an important part in the continuing revitalization of commercial activity on Selby Avenue.

"The next five years will go by quickly," said Gail Graham, Mississippi Market general manager. "Our Board of Directors intends to use that time to engage our member-owners in a planning process that will set the direction for how we serve our community in Saint Paul in the future."

The sale and leaseback agreement between SPA and Mississippi Market serves the needs of both organizations. SPA?s purchase supports its plan to acquire nearby property and reserve it for long-term facility needs. For Mississippi Market, the transaction provides a financially stable breathing space for the co-op to plan for its future. In the meantime, Mississippi Market?s Randolph location will continue to operate with no disruption in the day-to-day business.

"The sale puts us in a stronger financial position to achieve our mission: to provide our membership with top quality natural and organic foods in an attractive, welcoming and convenient setting." said Graham.

Mississippi Market has been a member of the Saint Paul community for over 23 years. Both co-op locations offer a large selection of natural and organic foods including cheese, naturally raised meats, fresh produce, and a variety of foods such as spices, nuts, beans and dried fruits in bulk. The co-op also emphasizes minimally processed foods without added preservatives, locally produced fresh fruits, vegetables, and cheeses, and reduced packaging.