2010-01-22 14:06:04 -

Walgreens (NYSE: WAG) (NASDAQ: WAG) today announced an agreement to acquire three El Amal pharmacies in Puerto Rico. The pharmacies located at Rio Grande Shopping Center, Salinas Shopping Center, and Plaza Las Americas are expected to transition to Walgreens by the end of February.

In addition, Walgreens has agreed to purchase prescription files associated with 11 El Amal pharmacies. Patients currently served by these 11 pharmacies will see notices in the storesand receive letters notifying them of the change. These locations, listed below, are expected to close by the end of the month. Patients will have immediate access to their prescription histories at a nearby Walgreens, or any of the Walgreens stores on the Island.

- Mayaguez Shopping Center, Mayaguez
- Santa Maria

Shopping Center, Ponce
- Centro Del Sur Shopping Center, Ponce
- Miramar #540, Arecibo
- Valle Real Shopping Center, Ponce
- Yauco Plaza, Yauco
- Dorado Shopping Center, Dorado
- Berwind Shopping Center, Rio Piedras
- Corozal Plaza, Corozal
- Bayamon Oeste Shopping Center, Bayamon
- Ave. Sanchez Osorio, Carolina


“Pharmacy is the heart of our business and is a service we take great pride in providing,” said Nivia Santiago, Puerto Rico Market Vice President for Walgreens. “This agreement allows us to quickly provide our innovative pharmacy services to more of the Island’s population.

Lastly, we strongly believe in Puerto Rico’s potential for long-term economic growth. We’ve been a part of Puerto Rico for five decades and have witnessed Puerto Rico’s capacity to overcome difficult economic periods.”

Walgreens offers pharmacy services and conveniences not found at many other pharmacies, including 24-hour pharmacy service, drive-thru pharmacy access, prescription label directions in 14 different languages and the Prescription Savings Club, which offers discounts on a wide range of medications.

The proposed transaction remains subject to the approval of the Bankruptcy Court. Terms of the transaction were not disclosed.

After the transaction closes, Walgreens will re-merchandise and refresh the acquired stores, incorporating new signage and displays as well as high quality, value-priced Walgreens brand products and services including complete online and digital photo offerings. The transaction is expected to close in the first quarter of calendar 2010, with the store transitions expected to be completed by this fall.

About Walgreens-Puerto Rico

Walgreens is the largest chain of pharmacies in Puerto Rico. It started operations on the island in 1960. The company has 100 pharmacies, about 5,000 employees and more than 450 licensed pharmacists in Puerto Rico. ( www.walgreens.com : )

WalgreensEdwin Rodriguez, 787-705-6558