AU-hoven

6/9/99

Bob Lowry

HOVEN IS 1999 AU COLLEGE OF BUSINESS OUTSTANDING ALUMNUS

AUBURN -- D. Dwayne Hoven, retired president and chief executive officer of Revco D.S., Inc., and a director of the company, has been named the 1999 Outstanding Alumnus of the Auburn University College of Business.

The annual award is the highest alumnus honor granted by the college. The 1998 winner was Jimmy Rane, president and chief executive officer of Great Southern Wood Preserving, Inc., and a member of the AU Board of Trustees.

Hoven, who received a B.S. In industrial management from AU in 1964, was honored at the Honors Day Banquet hosted by the AU Business Advisory Council on May 13.

"Mr. Hoven has been very supportive of Auburn University and the College of Business," said Wayne Alderman, dean and SouthTrust Professor of the AU College of Business. "His record of accomplishments in business coupled with his dedication to Auburn University make him a most worthwhile recipient of the Outstanding Alumnus Award.

Hoven joined Revco in 1987 as senior vice president of distribution for the drugstore chain. He was named president and chief operating officer of the company in 1992, and was promoted to CEO a year later.

Revco, a Fortune 500 company based in Twinsburg, Ohio, employs nearly 40,000 people in some 2,600 retail stores, regional offices and distribution centers in 17 states in the East, Midwest and Southeast.

Hoven began his career with Newport News Ship Building in 1964. Four years later, he joined Sav-A-Stop, Inc., as executive vice president and COO and as a member of the board of directors.

In 1981, Hoven purchased Davis-Dyar Supply Co., where he was chairman and CEO until the company was sold in 1987. In 1984, Hoven joined T.G. & Y. Stores Company as executive vice president of operations.

Hoven is a member of the AU College of Business Dean's Advisory Council, Florida State University School of Human Science Development Board , The Darlington School Board of Visitors and the University of North Carolina School of Pharmacy's Board of Visitors.

He was named Retailer of the Year in 1993 by Chain Drug Review and 1994 Man of the Year by Long Island University.

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june98:AU-hoven

CONTACT: Betty Weldon, 844-4832.