Print Page  |  Close Window

News Release

Lowe's Appoints Temple Sloan to Board of Directors

MOORESVILLE, N.C., Jan. 30 /PRNewswire-FirstCall/ -- Lowe's Companies, Inc. (NYSE: LOW) announced today its board of directors has appointed O. Temple Sloan, Jr. to its board of directors, effective immediately.

(Logo: http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO )

"We're pleased to welcome Temple Sloan to our board," said Robert L. Tillman, Lowe's chairman and CEO. "His executive experience, understanding of the retail industry and the operational challenges of running a nationwide chain of stores will be a great asset to our company."

Sloan is chairman and CEO of General Parts, Inc., a Raleigh, North Carolina-based distributor of automotive replacement parts. General Parts is the largest member of the CARQUEST network, with more than 1,400 company-owned stores and distribution of its products to approximately 4,000 CARQUEST Auto Parts stores across North America. Sloan also serves as a director of Bank of America Corporation, General Parts, Inc. and Highwoods Properties, Inc.

Sloan replaces Kenneth D. Lewis, chairman, CEO and president of Bank of America, who announced plans in mid-2003 to resign from Lowe's and other outside corporate boards.

"On behalf of the entire board, I'd like to thank Ken for his outstanding service to Lowe's. He was a key member of our board during a time of tremendous growth and success, and we certainly wish him continued success at Bank of America," commented Tillman.

With fiscal year 2002 sales of $26.5 billion, Lowe's Companies, Inc. is a FORTUNE 100 company that serves approximately nine million customers a week at more than 925 home improvement stores in 45 states. In 2003, FORTUNE named Lowe's America's Most Admired Specialty Retailer. Based in Mooresville, N.C., the 58-year old company is the second-largest home improvement retailer in the world. For more information, visit Lowes.com

SOURCE  Lowe's Companies, Inc.
    -0-                             01/30/2004
    /CONTACT:  Media, Brian Peace +1-704-758-2794, or Analysts, Paul Taaffe,
+1-704-758-2033, both of Lowe's Companies, Inc./
    /Photo:  NewsCom:  http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO
             AP Archive:  http://photoarchive.ap.org
             PRN Photo Desk, photodesk@prnewswire.com/
    /Web site:  http://www.lowes.com/
    (LOW)

CO:  Lowe's Companies, Inc.
ST:  North Carolina
IN:  REA HOU
SU:  PER

WB-JT 
-- CLF047 --
8662 01/30/2004 11:29 EST http://www.prnewswire.com