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Penn Traffic CFO Resigns

SYRACUSE, N.Y. -- The Penn Traffic Company here said late yesterday its c.f.o. had resigned. The executive, Robert B. Dimond, also an e.v.p. at Penn Traffic, has been with the company just a few months.

Penn Traffic, which is in the process of planning a reorganization following its Chapter 11 bankruptcy filing in 2003, said Dimond is resigning for personal reasons, unrelated to the company. The chain's chief accounting officer, Randy P. Martin, will now serve as s.v.p. - finance, reporting directly to the c.e.o.

Dimond came to Penn Traffic in January, with 16 years of experience in finance and accounting at supermarkets throughout the United States, including a stint as e.v.p., c.f.o., and treasurer for Minneapolis-based Nash Finch Co. Dimond also formerly served as group v.p. and c.f.o. for the Kroger Co.'s western region, and served as v.p. and controller for Smith's Food & Drug Centers, Inc.

Robert Chapman, president and c.e.o. of Penn Traffic, said of the new c.f.o., "Randy's knowledge and experience during his 11 years with the company have been a valuable asset to Penn Traffic. We look forward to continuing to work with him in his new position, as Penn Traffic seeks to emerge from chapter 11 later this month and begin a new phase of operations."

In December 2004, Penn Traffic filed its First Amended Plan of Reorganization Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of New York. A confirmation hearing with respect to this reorganization plan is scheduled to occur on March 17.
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