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Ruddick Announces Election and Quarterly Dividend

From: ASAP


Ruddick Corporation (NYSE: RDK) reported that the Board of Directors took the following actions at its regularly scheduled meeting.

The Board elected Robert H. Spilman, Jr. to fill a vacancy on the Board. Mr. Spilman has been President and Chief Operating Officer of Bassett Furniture Industries, Inc. since May, 1997 and Chief Executive Officer since March, 2000. Mr. Spilman also serves on the Boards of Bassett Furniture Industries, Inc., Bassett Mirror Company and the American Furniture Manufacturers Association. In addition, he is a trustee of Virginia Foundation for Independent Colleges.

"We are pleased to welcome Rob to our Board of Directors," said Alan T. Dickson, Chairman of the Board. "The skill and experience he brings to the Board will be an extremely valuable addition."

Further, the Board declared a quarterly dividend in the amount of $.09 per share to be paid on October 1, 2002, to shareholders of record on September 13, 2002.

Ruddick Corporation is a holding company which operates two subsidiaries: Harris Teeter, Inc., a regional chain of supermarkets in six southeastern states and American & Efird, Inc., a leading manufacturer and distributor of industrial sewing thread.

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