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    Penn Traffic Delisted from Nasdaq

    SYRACUSE, N.Y. - The Penn Traffic Co. said yesterday that it has been notified by the NASDAQ that its stock will be delisted from the exchange on May 30 because it has failed to file an annual report for the previous fiscal year.

    SYRACUSE, N.Y. - The Penn Traffic Co. said yesterday that it has been notified by the NASDAQ that its stock will be delisted from the exchange on May 30 because it has failed to file an annual report for the previous fiscal year.

    Penn Traffic has the right to ask for a hearing before the delisting occurs, but said in a statement that it is "considering various strategic alternatives."

    Penn Traffic's common stock will continue to be traded on the Nasdaq national market until the close of business on May 29, 2003 under the symbol "PNFTE" and the warrants will trade under the symbol "PNTWE" or, if it decides to request a hearing before the Nasdaq Panel, until the Nasdaq Panel makes a final decision. In such an instance, there is no assurance that the Nasdaq Panel will grant any company request for continued listing.

    The Penn Traffic Company operates 212 supermarkets in Ohio, West Virginia, Pennsylvania, upstate New York, Vermont and New Hampshire under the Big Bear, Big Bear Plus, Bi-Lo, P&C, and Quality banners. The company also operates a wholesale food distribution business serving 80 licensed franchises and 66 independent operators.

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