March 31, 2009 — Jimmie Gipson, Chairman, and Spencer Coates, President, of Houchens Industries, Inc. announced today the closing of the acquisition of Sheldon’s Express Pharmacies, headquartered in Bowling Green, Kentucky.

Houchens Industries, Inc. is a diversified conglomerate wholly owned by its employees through the Company's Employee Stock Ownership Trust. Companies owned by Houchens employ more than 15,000 people in a broad range of businesses. The holdings of Houchens include retail grocery and convenience stores, quick-to-serve restaurants, juice drink production and distribution, insurance, stock brokerage and financial services, franchising of optical stores, commercial construction, fence materials manufacturing and distribution, crushed stone aggregates and asphalt paving, recycling, tanning supply distribution, retail fixtures manufacturing, software and website development, healthcare, and property management. Houchens is recognized as one of the largest 100% employee owned companies in the United States.

Sheldon's Express Pharmacies are state- of- the- art prescription drug stores with two locations in Bowling Green, Kentucky. The Sheldon's stores deliver quick service, extremely competitive pricing, and friendly service to their loyal customers. Steve and Terri Sheldon have been integrally involved in developing this impressive business for over 20 years. The Pharmacies have been very good corporate citizens in the Bowling Green area for years.

In announcing the closing of the transaction, Mr. Gipson stated "Sheldon's Express Pharmacies will be a tremendous benefit to our company, and we are very pleased to welcome Steve Sheldon and his loyal employees to our family". Mr. Coates added, "Sheldon's will be an important part of our continuing investment in health care services, an industry expected to see significant future growth". Gipson and Coates plan to work with Steve Sheldon in his role as President of Pharmacy Operations to grow his very successful drug store concept to other communities. Houchens emphasized that Sheldon's Express Pharmacy will retain its name, employees, and management team, and that the company will remain headquartered in Bowling Green.

Steve Sheldon, President of Sheldon's Express Pharmacies, stated "teaming up with Houchens creates a very exciting opportunity for Sheldon's Express Pharmacies and our employees. We have been blessed for many years and this is a dream come true. The mission and focus of both companies is customer service, employee relations and growth. This combination is a perfect fit. Houchens and Sheldon's both have an interest in expansion and establishing a regional presence. I will continue to stay involved in managing the existing pharmacies; and my employees and I are committed to our customers and the community."