PENN TRAFFIC TO FOCUS ON COST-CUTTING, CUSTOMER SERVICE

SYRACUSE, N.Y. -- Despite pressures from wage and benefit expenses, Penn Traffic will continue during fiscal 2003 to stress cost reduction/containment while fine-tuning long-term emphasis on capital investment, merchandising and store operations, Joseph V. Fisher, president and chief executive officer, told investors and employees at the company's annual meeting here. Another goal is to reinvigorate

SYRACUSE, N.Y. -- Despite pressures from wage and benefit expenses, Penn Traffic will continue during fiscal 2003 to stress cost reduction/containment while fine-tuning long-term emphasis on capital investment, merchandising and store operations, Joseph V. Fisher, president and chief executive officer, told investors and employees at the company's annual meeting here. Another goal is to reinvigorate customer service.

"Our business strategy is working very well," Fisher said, noting "s

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