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GRAND UNION EXPANDS BOARD OF DIRECTORS

WAYNE, N.J. -- Grand Union Co. here said it has expanded its board of directors from 11 to 15 members and named four individuals to fill the new positions.Drive Management Trust; Stephen M. Peck, a private investor and chairman, Mt. Sinai Medical Center, and Herbert E. Seif, managing director, Dillon Warburg Read/UBS AG.Grand Union's expansion of its board follows the filing earlier this month of

WAYNE, N.J. -- Grand Union Co. here said it has expanded its board of directors from 11 to 15 members and named four individuals to fill the new positions.

Drive Management Trust; Stephen M. Peck, a private investor and chairman, Mt. Sinai Medical Center, and Herbert E. Seif, managing director, Dillon Warburg Read/UBS AG.

Grand Union's expansion of its board follows the filing earlier this month of a Schedule-13D with the Securities and Exchange Commission by UBS AG., in which the Zurich, Switzerland-based bank, an 8.1% shareholder in the supermarket company, said it was soliciting consent agreements from other shareholders in an effort to reconfigure Grand Union's board.

In the SEC filing, UBS said it wanted to change the composition of the board to "facilitate the immediate consideration and pursuit of alternatives to enhance shareholder value, including a merger or sale of the company."

The filing also named three individuals whom UBS would like to seen appointed to the reconfigured board. Two of those three, Embler and Seif, have been named to Grand Union's newly expanded board.

Meredith Adler, equity analyst, Lehman Bros., New York, told SN she considered the board expansion "an equitable solution for everyone." It was, she added, Grand Union's way of saying to UBS, "instead of standing on the outside, you can be here in the trenches."