Asheville, North Carolina (March 1, 1999) — Ingles Markets, Incorporated (Nasdaq-IMKTA) today announced that its Board of Directors has declared a cash dividend of $0.165 (sixteen and one-half cents) per share on all its Class A Common Stock and $0.15 (fifteen cents) per share on all its Class B Common Stock. This is an annual rate of $0.66 and $0.60 per share, respectively. Dividends on both the Class A and Class B Common Stock are payable April 12, 1999, to all shareholders of record on April 2, 1999.


Ingles Markets, Incorporated is a leading supermarket chain with operations in six southeastern states. Headquartered in Asheville, North Carolina, the Company operates 203 supermarkets. In conjunction with its supermarket operations, the Company also operates 80 neighborhood shopping centers, all but seven of which contain an Ingles supermarket. The Company's Class A Common Stock is traded on The Nasdaq Stock Market's National Market under the symbol: IMKTA.


Ingles Markets, Incorporated - Post Office Box 6676, Asheville, NC 28816 - http://www.ingles-markets.com

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Contact:
Ron Freeman
Chief Financial Officer
(828) 669-2941 (Ext. 223)