News

Dairy Mart to offer no-fee ATMs

February 27, 2002

HUDSON, Ohio -- Dairy Mart Convenience Stores announced today that approximately 600 Dairy Mart stores throughout the chain's Midwest and Southeast system will be offering customers no-fee ATM service. Many of the stores are open 24-hours a day.

Over the next two months most Dairy Mart stores in Ohio, Kentucky, Michigan, Pennsylvania, Indiana, Tennessee and North Carolina will have new ATM machines installed. The program will be supported through major advertising and promotion campaigns in each market.

"I believe this unique service makes Dairy Mart the only non-bank affiliated provider of No-Fee ATM service in our markets," said Robert B. Stein, Chairman, President and Chief Executive Officer. Dairy Mart is foregoing the customary transaction fee (typically $1.50 per transaction) charged customers for accessing their funds through automatic teller machines. Normal bank charges assessed by each customer's bank, if applicable, will continue as usual.

"Our new No-Fee ATM program is one of several major initiatives planned for the coming months as we aggressively pursue our strategy for increasing comparable store sales by offering customers exceptional convenience and value," Stein added.

Stein explained the significance of the No-Fee ATM program by citing research which shows that as many as three out of four ATM customers make a purchase when they stop to use the ATM, and they spend more on average than customers who do not use the ATM.

"ATM customers typically make their decision based on convenience of the ATM, and an awareness of fees, " Stein noted. "With 600 stores conveniently located in high-traffic thoroughfares, customers in our markets will have access to their funds, without incurring an additional cost, literally wherever, and whenever they want."

Dairy Mart's marketing plan to support the No-Fee ATM service will feature outdoor billboards, newspaper and radio advertising in all
markets. Individual stores where the new ATMs have been installed will be identified for customers through outdoor banners, store signs and buttons worn by store personnel. The No-Fee ATM service is being managed for Dairy Mart by EFMARK.