Exhibit 99.1


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                        TRACTOR SUPPLY COMPANY ANNOUNCES
                             TWO-FOR-ONE STOCK SPLIT
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Nashville, Tennessee, July 21, 2003 - Tractor Supply Company (NASDAQ: TSCO), the
largest retail farm and ranch store chain in the United States, today announced
that the Company's Board of Directors has approved a two-for-one stock split of
the Company's common stock.

The stock split will be effected by distributing one share of the Company's
stock to each stockholder of record as of August 4, 2003 for every share of
common stock then owned. As a result of the stock split, the number of
outstanding shares of common stock will increase to approximately 37.2 million
from approximately 18.6 million and the Company expects the newly issued shares
to be distributed on August 21, 2003.

Joe Scarlett, Chairman of the Board and CEO, commented, "The Board's decision to
approve a stock split recognizes our confidence in the ability to grow the
Tractor Supply Company chain from 460 stores to approximately 700 stores over
the next four years as well as the significant long-term opportunities for the
business. We are committed to taking actions designed to contribute to the total
return to our shareholders and moreover, we believe this split will further
enhance liquidity and make our common stock more attractive to a broader range
of investors." At June 28, 2003, Tractor Supply Company operated 458 stores in
30 states, focused on supplying the lifestyle needs of recreational farmers and
ranchers. The Company also serves the maintenance needs of those who enjoy the
rural lifestyle, as well as tradesmen and small businesses. Stores are located
in towns outlying major metropolitan markets and in rural communities. The
Company offers the following comprehensive selection of merchandise: (1)
livestock and pet products, including everything necessary for their health,
care, growth and containment; (2) maintenance products for agricultural and
rural use; (3) hardware and tool products; (4) seasonal products, including lawn
and garden power equipment; (5) truck, trailer and towing products; and (6) work
clothing for the entire family.

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Certain statements contained herein, including without limitation, statements
addressing the beliefs, plans, objectives, estimates or expectations of the
Company or future results or events constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995, as
amended. Such forward-looking statements involve known or unknown risks,
including, but not limited to, general economic and business conditions, and
conditions in the specialty retail industry. There can be no assurance that the
actual future results, performance, or achievements expressed or implied by such
forward-looking statements will occur. Users of forward-looking statements are
encouraged to review the Company's latest annual report on Form 10-K, its
filings on Form 10-Q, management's discussion and analysis in the Company's
latest annual report to stockholders, the Company's filings on Form 8-K, and
other federal securities law filings for a description of other important
factors that may affect the Company's business, results of operations and
financial condition. The Company does not undertake to publicly update or revise
its forward-looking statements even if experience or future changes make it
clear that projected results expressed or implied in such statements will not be
realized.