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The "SELECT INTO" statement is used to retrieve data from a database table and store it into variables or a new table. 

Example:

-- Assigning Values to Variables 
DECLARE @variable_name data_type; 
SELECT column_name INTO @variable_name FROM table_name WHERE condition;-- Creating a New Table 
SELECT column1, column2 INTO new_table FROM old_table WHERE condition;-- Inserting Data into an Existing Table 
INSERT INTO existing_table (column1, column2) 
SELECT column1, column2 FROM source_table WHERE condition;