Ingles Markets Declares Quarterly Cash Dividend

ASHEVILLE, N.C. - Ingles Markets, Inc. today announced that its board of directors has declared a cash dividend of 16.5 cents per share on all its Class A common stock and 15 cents per share on all its Class B common stock. This is an annual rate of 66 cents and 60 cents per share, respectively. Dividends on both the Class A and Class B common stock are payable April 7, 2004, to all shareholders of record on March 29, 2004.

Ingles Markets is a supermarket chain with operations in six southeastern states. The company operates 197 supermarkets. In conjunction with its supermarket operations, the company also runs 73 neighborhood shopping centers, all but 15 of which contain an Ingles supermarket.
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