EXHIBIT 99.3
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[GRAPHIC OMITTED]
[LOGO - THE PENN TRAFFIC COMPANY]


FOR IMMEDIATE RELEASE                   CONTACT:   Marc Jampole
                                                   Jampole Communications, Inc.
                                                   412-471-2463


                   PENN TRAFFIC NAMES ROBERT PANASUK NEW CEO

         SYRACUSE,  NEW YORK - DECEMBER  12,  2006 - The Penn  Traffic  Company
(OTC:PTFC)  today  announced  that it has named Robert Panasuk as President and
Chief  Executive  Officer and Gregory J. Young as Executive  Vice President and
Chief  Operating  Officer,  effective  immediately.  For the past  two  months,
Messrs.  Panasuk  and  Young  have been  Co-Chief  Operating  Officers  for the
Syracuse-based supermarket company.

         "In just a short amount of time, the executive  management team of Bob
Panasuk  and  Greg  Young  has  energized  our  employees  and set an  exciting
direction for improvement in all areas of our  operations,"  said Robert Kelly,
Chairman of the Board of Penn  Traffic,  which  operates 111  supermarkets  and
supplies another 122 supermarkets in  Pennsylvania,  upstate New York,  Vermont
and New Hampshire.  "Under their leadership,  we believe the Company is rapidly
becoming more  competitive and laying the groundwork for future growth in sales
and profitability."

         Before joining Penn Traffic in October,  Mr. Panasuk was most recently
Executive Vice President of A&P, where has was responsible  for  merchandising,
marketing  and  distribution  for U.S.  operations.  Mr.  Panasuk has worked in
executive and management positions in the supermarket and retail industries for
approximately 30 years. Mr. Young rejoined Penn Traffic in July, and has worked
for the Company  more than 25 years in total.  Before  joining  Penn  Traffic a
second  time,  he  headed  the  retail  operations  of C&S  Wholesale  Grocers.
Previously he was a Group Vice President of A&P.



FORWARD LOOKING STATEMENTS

         This press release contains forward-looking  statements, as defined in
the Private  Securities  Litigation Reform Act of 1995, as amended,  reflecting
management's  current  analysis  and  expectations,  based  on what  management
believes to be reasonable assumptions. These forward-looking statements include
statements  relating to our  anticipated  financial  performance  and  business
prospects.  Statements  proceeded by, followed by or that include words such as
"believe,"  "anticipate,"  "estimate,"  "expect,"  "could,"  and other  similar
expressions   are   to   be   considered   such   forward-looking   statements.
Forward-looking  statements may involve known and unknown risks,  uncertainties
and other factors, which may cause the actual results to differ materially

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from those  projected,  stated or implied,  depending  on such  factors as: the
ability of the Company to improve its operating  performance and effectuate its
business plans;  the ability of the Company to operate pursuant to the terms of
its credit facilities and to comply with the terms of its lending agreements or
to amend or modify the terms of such  agreements  as may be needed from time to
time;  the ability of the Company to generate  cash; the ability of the Company
to attract  and  maintain  adequate  capital;  the  ability  of the  Company to
refinance;  increases in prevailing  interest rates; the ability of the Company
to obtain  trade  credit,  and  shipments  and terms with  vendors  and service
providers for current orders;  the ability of the Company to maintain contracts
that are  critical  to its  operations;  potential  adverse  developments  with
respect to the Company's  liquidity or results of operations;  general economic
and business  conditions;  competition,  including increased capital investment
and promotional activity by the Company's competitors;  availability,  location
and terms of sites for store development;  the successful implementation of the
Company's  capital  expenditure  program;  labor relations;  labor and employee
benefit  costs  including  increases  in health care and pension  costs and the
level of  contributions to the Company  sponsored  pension plans; the result of
the pursuit of strategic alternatives;  economic and competitive uncertainties;
the  ability of the  Company to pursue  strategic  alternatives;  economic  and
competitive uncertainties; changes in strategies; changes in generally accepted
accounting  principles;  adverse  changes in economic  and  political  climates
around the world, including terrorist activities and international hostilities;
and the outcome of pending,  or the commencement of any new, legal  proceedings
against,  or  governmental   investigations  of  the  Company,   including  the
previously announced SEC and U.S. Attorney's Office investigations. The Company
cautions  that the  foregoing  list of  important  factors  is not  exhaustive.
Accordingly,  there can be no  assurance  that the  Company  will  meet  future
results,   performance   or   achievements   expressed   or   implied  by  such
forward-looking  statements.  The Company does not necessarily intend to update
these factors.

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         The Penn Traffic Company  operates 111  supermarkets in  Pennsylvania,
upstate New York,  Vermont and New  Hampshire  under the BiLo,  P&C and Quality
trade names. Penn Traffic also operates a wholesale food distribution  business
serving 74 licensed franchises and 48 independent  operators and Penny Curtiss,
a Syracuse-based commercial bakery.


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