Ingles Markets, Incorporated Declares Quarterly Cash Dividend

ASHEVILLE, N.C.,-Ingles Markets, which operates 199 supermarkets and 77 neighborhood shopping centers in six southeastern states, today announced that its Board of Directors has declared a cash dividend of $0.165 per share on all its Class A Common Stock and $0.15 per share on all its Class B Common Stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable April 9, 2003, to all shareholders of record on March 31, 2003.