Fortune Mag Honors ACE Hardware

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Thursday, April 1, 2004 - Ace Hardware Corp. has again been named one of America’s most admired companies in FORTUNE magazine’s annual study that ranks U.S. firms’ corporate reputations.

The retailer-owned cooperative ranked fourth in the Wholesalers: Diversified category based on a survey of 10,000 executives conducted in late 2003. The magazine announced its lineup in its March 8 issue.

“We are honored that Ace continues to be held in such high regard by America’s top business leaders,” said David Hodnik, Ace Hardware president and chief executive officer. “Our success stems from the integrity of our business practices and the quality of our employees and retailers that serves as a foundation for our growth.”

According to FORTUNE magazine, the Hay Group selected the companies with the largest revenue in 64 different industries. The consultancy then asked company executives, directors and securities analysts to rate the companies in their own industries based on eight criteria: innovation, financial soundness, employee talent, use of corporate assets, long-term investment value, social responsibility, quality of management and quality of product and services.

Ace trailed only Fisher Scientific Intl., Hughes Supply and W.W. Grainger in the wholesalers: diversified industry list. Ace held the 4th position it achieved in 2002. The only other hardware cooperative to be included in the listing was TruServ Corp., which ranked 9th.

Ace Hardware Corp. is the largest retailer-owned cooperative in the industry and celebrates its 80th anniversary in 2004. Ace’s annual retail sales from its more than 4,800 hardware, home center and lumber and building materials retailers top $13 billion. Headquartered in Oak Brook, Ill., Ace currently operates 15 distribution centers in the United States and has stores located in all 50 states and 70 countries.

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