MORGAN J P & CO INC
SC 13G, 2000-06-26
STATE COMMERCIAL BANKS
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                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                            -----------------------

                                  SCHEDULE 13G
                                 (Rule 13d-102)

            INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
          TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
                           PURSUANT TO RULE 13d-2(b)


                              RITE AID CORPORATION
--------------------------------------------------------------------------------
                                (Name of Issuer)

                                  COMMON STOCK
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   767754104
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                 June 14, 2000
--------------------------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
     is filed:
     |_| Rule 13d-1(b)
     |X| Rule 13d-1(c)
     |_| Rule 13d-1(d)


<PAGE>


-------------------                                            -----------------
CUSIP No. 767754104                   13G                      Page 1 of 5 Pages
-------------------                                            -----------------

--------------------------------------------------------------------------------
  1.  NAMES OF REPORTING PERSONS    J.P. Morgan & Co. Incorporated

      I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)  13-2625764
--------------------------------------------------------------------------------
  2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                  (a) |_|
                                                                         (b) |X|
--------------------------------------------------------------------------------
  3.  SEC USE ONLY

--------------------------------------------------------------------------------
  4.  CITIZENSHIP OR PLACE OF ORGANIZATION

      Delaware
--------------------------------------------------------------------------------

      NUMBER OF           5.  SOLE VOTING POWER            39,379,392
        SHARES
     BENEFICIALLY         6.  SHARED VOTING POWER               1,600
       OWNED BY
         EACH             7.  SOLE DISPOSITIVE POWER       39,364,792
      REPORTING
     PERSON WITH          8.  SHARED DISPOSITIVE               13,600
                              POWER
--------------------------------------------------------------------------------
  9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      39,380,992

--------------------------------------------------------------------------------
 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES                  |X|
      CERTAIN SHARES*

--------------------------------------------------------------------------------
 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

      15.1%

--------------------------------------------------------------------------------
 12.    TYPE OF REPORTING PERSON*          HC

--------------------------------------------------------------------------------


<PAGE>


Item 1(a).  Name of Issuer:

     Rite Aid Corporation

Item 1(b).  Address of Issuer's Principal Executive Offices:

     30 Hunter Lane, Camp Hill, PA 17011

Item 2(a).  Name of Person Filing:

     J.P. Morgan & Co. Incorporated

Item 2(b).  Address of Principal Business Office or, if None, Residence:

     60 Wall Street, New York, NY 10260

Item 2(c).  Citizenship:

     Delaware

Item 2(d).  Title of Class of Securities:

     Rite Aid Corporation

     unless otherwise noted, security being reported is common stock

Item 2(e).  CUSIP Number:

     767754104

Item  3. If this Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
      or (c), Check Whether the Person Filing is a:

     (a) |_| Broker or dealer registered under Section 15 of the Exchange Act;

     (b) |_| Bank as defined in Section 3(a)(6) of the Exchange Act;

     (c) |_| Insurance company as defined in Section 3(a)(19) of the
             Exchange Act;

     (d) |_| Investment company registered under Section 8 of the Investment
             Company Act;

     (e) |_| An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

     (f) |_| An employee benefit plan or endowment fund in accordance with
             Rule 13d-1(b)(1)(ii)(F);

     (g) |_| A parent holding company or control person in accordance with
             Rule 13d-1(b)(1)(ii)(G);

     (h) |_| A savings association as defined in Section 3(b) of the Federal
             Deposit Insurance Act;

     (i) |_| A church plan that is excluded from the definition of an investment
             company under Section 3(c)(14) of the Investment Company Act;

     (j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

If this statement is filed pursuant to Rule 13d-1(c), check this box. |X|


                               Page 2 of 5 Pages

<PAGE>


Item 4.   Ownership.

     Provide the following information regarding the aggregate number and
percentage of the class of securities of issuer identified in Item 1.

     (a)  Amount beneficially owned: 39,380,992

     (b)  Percent of class: 15.1%

     (c)  Number of shares as to which such person has:

           (i) Sole power to vote or to direct the vote: 39,379,392

          (ii) Shared power to vote or to direct the vote: 1,600

         (iii) Sole power to dispose or to direct the disposition of: 39,364,792

          (iv) Shared power to dispose or to direct the disposition of: 13,600

Item 5.   Ownership of Five Percent or Less of a Class.

     If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following. |_|

Item 6.   Ownership of More than Five Percent on Behalf of Another Person.

               J.P. Morgan Ventures Corporation is the beneficial owner of
          39,136,363 shares of the Issuer's Common Stock for its own account.
          Most of our other accounts involve outside persons who have the right
          to receive or direct the receipt of dividends from, or the proceeds
          from the sale of, securities in such accounts with respect to the
          class of securities which are the subject of this report. However, no
          such person's rights relate to more than five percent of the class
          unless such person is identified below.

Item 7.   Identification and Classification of the Subsidiary Which Acquired the
          Security Being Reported on by the Parent Holding Company.

     J.P. Morgan Ventures Corporation

     Morgan Guaranty Trust Company of New York

     J.P. Morgan Securities Inc.

     J.P. Morgan Whitefriars, Inc.

Item 8.   Identification and Classification of Members of the Group.

     Not applicable

Item 9.   Notice of Dissolution of Group.

     Not applicable

Item 10.  Certifications.

     By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.


                               Page 3 of 5 Pages

<PAGE>


                                   SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


Dated June 26, 2000                    J.P. Morgan & Co. Incorporated

                                       By: /s/ James Berry
                                          ------------------------------------
                                          James Berry
                                          Vice President, Assistant General
                                            Counsel, Assistant Secretary


                                       J.P. Morgan Ventures Corporation

                                       By: /s/ Grace Vogel
                                          ------------------------------------
                                          Grace Vogel
                                          Vice President


                                       J.P. Morgan Securities Inc.

                                       By: /s/James Berry
                                          ------------------------------------
                                          James Berry
                                          Vice President, Assistant General
                                            Counsel, Assistant Secretary



                                       Morgan Guaranty Trust Company of New York

                                       By: /s/ James Berry
                                          ------------------------------------
                                          James Berry
                                          Vice President, Assistant General
                                            Counsel, Assistant Secretary


                                       J.P. Morgan Whitefriars Inc.

                                       By: /s/ Jonathan P. Magee
                                          ------------------------------------
                                          Jonathan P. Magee
                                          Managing Director

         The original statement shall be signed by each person on whose behalf
the statement is filed or his authorized representative. If the statement is
signed on behalf of a person by his authorized representative (other than an
executive officer or general partner of the filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.


                               Page 4 of 5 Pages

<PAGE>


         Attention.  Intentional misstatements or omissions of fact constitute
federal criminal violations (see 18 U.S.C. 1001).


                               Page 5 of 5 Pages



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