EXHIBIT 99.1

                              [TRU*SERV(TM) LOGO]
                                  PRESS RELEASE

                                             For more information, contact:
                                             Shelley Hughes
                                             TruServ Corporation
                                             (773) 695-5258/shughes@truserv.com

                    TRUSERV COMPLETES REFINANCING AGREEMENT

         CHICAGO, SEPT. 3, 2003 -- TruServ Corporation closed on a new
four-year, $275 million revolving-credit facility agreement on Aug. 29, 2003.
This asset-based facility, led by Fleet Capital Corporation, consists of seven
lending institutions. Upon closing, the facility was used to refinance existing
senior notes and to replace the existing senior-revolving credit facility. The
initial borrowing on the facility was approximately $158 million.
         "Our recent significant debt reduction along with improved operating
performance were the catalyst to this refinancing," said President and CEO
Pamela Forbes Lieberman. "The new financing provides the company adequate
liquidity and significantly greater operational flexibility. Under the terms of
the new facility, our senior debt interest rate is cut by more than 50 percent,
which will help fuel further profit improvement."
         TruServ, headquartered in Chicago, is one of the world's largest
member-owned wholesale hardware cooperatives with sales of $2.2 billion in 2002.
The TruServ cooperative includes approximately 6,300 independent retailer
locations worldwide operating under the store identities of True Value, Grand
Rental Station, Taylor Rental, Party Central, Home & Garden Showplace and
Induserve Supply. Additional information on TruServ and its retail identities is
available at www.truserv.com.

                                      -###-