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Jun 8, 2006

Former Bon-Ton Chairman & Amp; Community Leader Dies At 93

Former Bon-Ton Chairman & Amp; Community Leader Dies At 93 York, PA, June 8, 2006 -- Max Samuel (Tom) Grumbacher, department store entrepreneur and philanthropist died peacefully at the age of 93 after a lengthy illness. Voted Director Emeritus of The Bon-Ton Stores, Inc. (NASDAQ: BONT) in 1996 at the age of 80, he was actively involved in the Company for 65 years.

Mr. Grumbacher identified the importance of smaller markets and developed new stores in those markets. He was drawn into the family business in 1931 by crisis, rather than by design. He chose the family business over college to insure its survival. He quickly rose to a leadership position, serving as Bon-Ton's President for 28 years, eventually turning over management of the chain's day-to-day operations to his son, M. Thomas (Tim) Grumbacher in 1967. Mr. Grumbacher focused on real estate and expansion strategies until he relinquished his position as Chairman of the company in 1987, but remained on its Board of Directors until his retirement in 1996. Tim Grumbacher is Executive Chairman of the Bon-Ton Board of Directors.

As important as Mr. Grumbacher's strategic leadership was his strong commitment to his customers' satisfaction, his associates feeling fairly treated and his support of community involvement, a Grumbacher family tradition. Through his M.S. Grumbacher Foundation, currently managed by his grandson Joshua Grumbacher, he supported scores of educational, cultural, charitable and civic causes including various types of medical research. In 1999, the Foundation endowed a scholarship in his name for business students at Penn State York. He was also involved in many organizations in his hometown, including the York Chamber of Commerce, York Council of Jewish Charities, United Fund of York City and the York Family Service Bureau. In addition, he shared his business skills with the community, serving on numerous boards in the York community including York Hospital, Pennsylvania State University (York campus), Hamilton Bank (now Wachovia), York County Community Foundation, Board of Regents at Mercersburg Academy and the York County Industrial Development Authority, for which he was honored by the Pennsylvania Secretary of Commerce for 10 years of service as its Chairman of the Board.

Byron L. Bergren, President and Chief Executive Officer of Bon-Ton, stated, "Mr. Grumbacher's retail expertise laid the foundation for the Bon-Ton stores and the reason why it is a leading regional department store today. Our Company's story hasn't changed from his strategy of 75 years ago. This proves that Mr. Grumbacher was truly a visionary in the retail industry."

The Bon-Ton Stores, Inc. operates 271 department stores and seven furniture galleries in 23 states in the Northeast, Midwest and Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's and Younkers nameplates. The stores offer a broad assortment of brand-name fashion apparel and accessories for women, men and children, as well as cosmetics, home furnishings and other goods. For further information, please visit the investor relations section of the Company's website at

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