Walgreen Co. Names David W. Bernauer CEO

Walgreen Co. (NYSE: WAG) today announced that President David W. Bernauer will become chief executive officer, effective Jan. 9, 2002. He will retain his title as president. Current CEO and Chairman L. Daniel Jorndt will continue as chairman and remain actively engaged in day-to-day business operations, including corporate strategy, information technology, law and government affairs. The moves, both part of Walgreens long-range leadership succession planning, were shared with members of the retailer's board of directors a year ago.

Bernauer, 57, started with the company as a pharmacist in 1967 after graduating from North Dakota State University. After holding various store management positions, he became a district manager in 1979 and regional vice president in 1987.

He was promoted to vice president and treasurer in 1990, vice president of purchasing and merchandising in 1992, vice president and chief information officer in 1994, and senior vice president and CIO in 1996. He was elected president and chief operating officer in January 1999.

"I've worked closely with Dave Bernauer for more than 30 years," said Jorndt. "He's an outstanding retailer who has been a key player in our strategy and operations and is uniquely qualified to lead Walgreens during this exciting period of high growth.

"Dave's depth and range of experience in store operations, marketing, finance and technology is unmatched in the chain drugstore industry," continued Jorndt. "He has been intimately involved in literally every segment of our business, from filling prescriptions to running stores to managing the design of our proprietary store and pharmacy systems."

Bernauer is married, has three adult children and makes his home in Lincolnshire, Ill.

Walgreen Co. is the nation's largest drugstore chain, with fiscal 2000 sales of $21.2 billion. The company operates 3,446 stores in 43 states and Puerto Rico. Walgreens will open 475 stores this fiscal year and plans to operate 6,000 stores by 2010.

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SOURCE Walgreen Co.

-0- 07/12/2001

/CONTACT: Investors, Rick Hans, Director of Investor Relations, 847-914-2385, Media, Laurie L. Meyer, Divisional Vice President - Corporate Communications, 847-914-2920, both of Walgreen Co./

/Web site: http://www.walgreens.com /

(WAG)