Rite Aid News

Rite Aid Names Robert I. Thompson Executive Vice President, Pharmacy

Bill Wolfe Promoted to Senior Vice President, Managed Care and Government Affairs

CAMP HILL, PA (September 23, 2009) - Rite Aid Corporation (NYSE: RAD) announced today that Robert I. Thompson, formerly Senior Vice President, Pharmacy Operations, has been promoted to Executive Vice President, Pharmacy.

The company also announced that Bill Wolfe, formerly Group Vice President, Managed Care and Government Affairs, has been promoted to Senior Vice President, Managed Care and Government Affairs.

Thompson, 56, a pharmacist and seasoned retail drugstore veteran, will oversee pharmacy operations, pharmacy purchasing, managed care, clinical services, the company's pharmacy benefit management services and pharmacy business development, as well as government affairs. He reports to John Standley, Rite Aid President and Chief Operating Officer.

"Robert has a unique background that combines extensive experience in retail pharmacy and store operations with health care business development," Standley said. "He's been a terrific asset to Rite Aid over the past five years, making many valuable contributions to our company. With this promotion, he is now positioned to bring even greater value in this larger role overseeing all aspects of pharmacy."

Joining Rite Aid in July, 2004 as Vice President, Pharmacy Business Development, Thompson has served in a variety of management positions including Senior Vice President, Pharmacy Operations; Senior Vice President, Operations for the Northeastern Division and Manager of the company's integration of the Brooks Eckerd drugstore chain.

Starting his chain drug career in 1978 as a practicing pharmacist, Thompson rose through the ranks at the former Revco drugstore chain from 1978 until the company was sold in 1997. He moved up to store manager, district manager, director of store operations and regional director of pharmacy operations before being named Vice President, Pharmacy Operations for Revco in 1995.

Before joining Rite Aid, Thompson was involved in operations and new business development for several health-care related businesses, including the fourth largest dental practice management company in the U.S. and an international medical equipment manufacturer. He holds a Bachelor of Science degree in Pharmacy from the University of Georgia College of Pharmacy.

Wolfe, 46, with 23 years experience in managed care and pharmacy benefit management, will continue to oversee managed care, the company's PBM services and government affairs. He reports to Thompson.

"Bill's broad-based expertise in the area of managed care has been critical to our success in managing through the challenging and ever changing healthcare environment," Standley said. "He also has been instrumental in helping us work through recent complex legislative changes."

Wolfe joined Rite Aid in 1998 as Chief Operating Officer of Eagle Managed Care, Rite Aid's pharmacy benefit management subsidiary at that time. During his tenure, he continued to take on roles of increasing leadership, including adding Rite Aid Director, Pharmacy Services to his Eagle Managed Care title. In 2000, he was named Vice President of Managed Care and in 2008 was promoted to Group Vice President, Managed Care and Government Affairs.

He started his career in managed care in 1986 as a management intern in the legal department at Pennsylvania Blue Shield where he was later named an Associate General Counsel and then moved to Keystone Health Plan Central, where he moved up the ranks from Director, Legal and Regulatory Affairs to General Counsel and in 1995 to Vice President, Planning, Legal and Corporate Secretary. He is a graduate of the Dickinson School of Law in Pennsylvania and holds a Bachelor's Degree from Penn State University.

Rite Aid is one of the nation's leading drugstore chains with more than 4,800 stores in 31 states and the District of Columbia with fiscal 2009 annual sales of more than $26.3 billion. Information about Rite Aid, including corporate background and press releases, is available through Rite Aid's website at www.riteaid.com.

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Contact:

Investors:717-975-3710, Chris Hall 717-214-8834 or investor@riteaid.com

Media:Karen Rugen 717-730-7766