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Duckwall-ALCO Stores (DUCK) Announces Resolution of Proxy Contest and Changes in Board of Directors

March 7, 2008 8:51 AM EST
Duckwall-ALCO Stores (Nasdaq: DUCK) today announced it has resolved the threatened proxy contest with Strongbow Capital, Ltd., Strongbow Capital Management, Ltd. and Raymond A. D. French.

Effective immediately, Warren H. Gfeller and Robert L. Ring have resigned from the Board of Directors, and the remaining five board members have elected Royce Winsten as Chairman of the Board.

Pursuant to the resolution of the threatened proxy contest, the Board has appointed Raymond A.D. French and James G. Hyde to the Board of Directors, effective immediately. [JT]

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