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KMART IS PLANNING TO LEASE MAJORITY OF VENTURE UNITS

TROY, Mich. -- Kmart Corp. here said it plans to lease a majority of Venture Stores' 93 units and convert them to Big Kmarts by the end of the year if it can reach a final agreement with the real estate company that will control the leases. ding to Kmart, Kimco is in the process of completing an agreement to lease a majority of those sites to Kmart. The stores, which range in size from 150,000 square

TROY, Mich. -- Kmart Corp. here said it plans to lease a majority of Venture Stores' 93 units and convert them to Big Kmarts by the end of the year if it can reach a final agreement with the real estate company that will control the leases.

ding to Kmart, Kimco is in the process of completing an agreement to lease a majority of those sites to Kmart. The stores, which range in size from 150,000 square feet up to 335,000 square feet, operate in Missouri, Kansas, Illinois, Indiana, Iowa, Kentucky, Oklahoma and Arkansas; units in Texas have already been closed.

Kmart converted 20 former Venture stores to the Big Kmart format last year in Texas, Oklahoma, Indiana and Iowa, "and we expect a similar smooth transition with this group of stores," said Floyd Hall, Kmart chairman, president and chief executive officer.