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A statement from Wal-Mart Stores, Inc. concerning the FDIC's Wal-Mart Industrial Bank Hearings

BENTONVILLE, Ark., Apr. 11, 2006 - "These hearings provided a valuable opportunity for us to clarify confusion about our application and remind regulators of the limited, specific scope of our plans. 

"We also made it clear that we will continue to support and expand upon our commitment to the community banks already in our stores, and would use the savings on transaction costs to help working families who shop at our stores save even more money.

"We heard a lot unfounded speculation and dramatic rhetoric from our critics, but most of their testimony had little to do with our application. 

"We’re confident the FDIC will see through the political rhetoric that has surrounded this process and will look at the strong, pro-consumer merits of our application as they make their decision."

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