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Wal-Mart named one of the nation's top companies by Hispanic Association on Corporate Responsibility.

Washington, D.C. (May 14, 1999) — Wal-Mart Stores, Inc. is one of only four Fortune 1000 corporations receiving the Hispanic Association on Corporate Responsibility's (HACR) top rating in regard to Latino representation on its board of directors. The four star rating is a result of HACR's study on Hispanic appointments to top corporate management positions and number appointed to Boards of Director. The study will be released May 21, 1999, during HACR's Seventh Annual Symposium on Corporate Responsibility in Miami, FL. Wal-Mart's inclusion was announced by HACR President Richard J. Bela and Don Soderquist, Vice Chairman of the Board and Chief Operating Officer, Wal-Mart Stores, Inc.

"We are proud of this recognition and of our continuing involvement with the Hispanic community," said Soderquist. "We are committed to increasing the number of Hispanics in all of our store operations; including vendors, suppliers, and providers of professional services, and those in policy-making positions, because it will help us better serve our diverse customer base," he added.

According to Soderquist, being recognized among the top corporations in the country is a major accomplishment, inasmuch as HACR dedicates its efforts to identifying U.S. corporations which exhibit exemplary performance in corporate responsibility initiatives affecting the Hispanic community. Through on-going, comprehensive research, the national coalition also gathers data on other issues affecting Hispanics, such as employment, procurement, and philanthropy.

"The purpose of this study was to publicly recognize Hispanics serving on Fortune 1000 corporate boards and celebrate their accomplishments," said Bela. "Through these ratings, we also acknowledge those corporations that involve Hispanics in governance and deserve goodwill from our community," he added. In 1997, Wal-Mart named Jeronimo Arango of Mexico City to its Board of Directors. He is the founder, Chairman of the Board, and Chief Executive Officer of CIFRA — one of Mexico's major retail chains.

In March, 1998, Wal-Mart announced its appointments of Roland A. Hernandez and Jose H. Villarreal to its Board of Directors. Hernandez is President of Telemundo Group, Inc. in Los Angeles, CA, while Villarreal is a partner in the San Antonio, TX law offices of Akin, Gump, Strauss, Hauer & Feld, and board member of several national and local community-based organizations.

In addition to Wal-Mart, the other companies accorded HACR's four star rating are Banco Popular, Inc., Public Service Company of New Mexico, and SBC Communications, Inc.

Wal-Mart Stores, Inc. operates 2,359 Wal-Mart stores and 443 SAM'S Clubs in the U.S. and employs more than 720,000 associates throughout the nation and is the nation's largest employer of Hispanics, with over 50,000. Internationally, the company operates units in Argentina, Brazil, Canada, Germany, Mexico, Puerto Rico and China. Its securities are listed on the New York and Pacific Stock Exchanges.

Wal-Mart Stores, Inc. is one of only four Fortune 1000 corporations receiving the Hispanic Association on Corporate Responsibility’s (HACR) top rating in regard to Latino representation on its board of directors. The four star rating is a result of HACR’s study on Hispanic appointments to top corporate management positions and number appointed to Boards of Director. The study will be released May 21, 1999, during HACR’s Seventh Annual Symposium on Corporate Responsibility in Miami, FL. Wal-Mart’s inclusion was announced by HACR President Richard J. Bela and Don Soderquist, Vice Chairman of the Board and Chief Operating Officer, Wal-Mart Stores, Inc. L-R: Richard J. Bela, President, Hispanic Association of Corporate Responsibility; Don Soderquist, Vice Chairman of the Board and Chief Operating Officer, Wal-Mart Stores, Inc.; Roland A. Hernandez, President, Telemundo Group, Inc.; and Jose H. Villarreal, Partner, Law Offices of Akin, Gump, Strauss, Hauer & Feld.

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