SUPERVALU Announces New Executive Management Team to Lead Company upon Completion of Acquisition

As previously announced, Jeff Noddle will be SUPERVALU Chairmanand Chief Executive Officer. Noddle, 59, has reshaped SUPERVALU sincetaking the helm in 2001 through a well-executed plan that has includedgrowing the retail operation, fostering the development of multipleretail formats, strengthening the supply chain backbone, and improvingthe financial health of the company. As a result, SUPERVALU isuniquely positioned to complete its most transformational step in its135-year history with the pending strategic acquisition of Albertsonspremier retail properties, creating the third-largest grocery retailerin the United States.

"Today's announcement marks a very significant milestone for us.We are moving quickly to ensure that the new SUPERVALU will be afocused organization with a best-in-class management team tocapitalize on the enormous opportunity presented by the combination ofthese two great companies. This team reflects the best combination ofstrengths needed to make SUPERVALU successful," said SUPERVALUChairman and Chief Executive Officer Jeff Noddle.

Noddle added, "As a retail powerhouse, our executive team reflectsan expanded retailing competency as well as top-notch business leadersto deliver the results we set before ourselves. I am honored to leadSUPERVALU through this important transformation as we combine twopowerful organizations. I am confident that we have the right strategyand the right team to execute our plans, build on our competitivestrengths, and deliver shareholder value."

SUPERVALU will be organized around its core businesses, includingthe development of three retail operating divisions and theestablishment of a company-wide merchandising and marketing functionto support the success and scope of its leading retail marketpositions across the country. Reporting to Noddle are the followingexecutives, who are taking on new or expanded roles.

David Boehnen, SUPERVALU Executive Vice President. Boehnen willoversee Legal, Real Estate, Corporate Development and GovernmentAffairs.

John Hooley, SUPERVALU Executive Vice President and President ofRetail East. Hooley will oversee the retail operations of Acme,bigg's, Farm Fresh, Scott's, Shaw's and Shoppers.

Mike Jackson, SUPERVALU President and Chief Operating Officer.Jackson will oversee Save-A-Lot, Supply Chain Services and theEnterprise Office.

Pamela Knous, SUPERVALU Executive Vice President and ChiefFinancial Officer. Knous will oversee Finance, Information Technologyand Investor Relations. In addition, Bristol Farms will report toKnous.

Duncan Mac Naughton, SUPERVALU Executive Vice President,Merchandising and Marketing. Mac Naughton will oversee a newcompany-wide merchandising and marketing function for SUPERVALU.Currently, Mac Naughton is Executive Vice President, Merchandising,for Albertsons.

Dave Pylipow, SUPERVALU Senior Vice President, Human Resources.Pylipow will oversee Human Resource functions and Labor Relations.

Kevin Tripp, SUPERVALU Executive Vice President and President ofRetail Midwest. Tripp will oversee the retail operations of Cub Foods,Hornbacher's, Jewel and Shop 'n Save, as well as company-wide Pharmacyoperations. Currently, Tripp is Executive Vice President, DrugOperations and President, Drug Store Division, for Albertsons.

Pete Van Helden, SUPERVALU Senior Vice President and President ofRetail West. Van Helden will oversee the retail operations in SouthernCalifornia, Nevada and the Intermountain West division under theAlbertsons banner. Currently, Van Helden is President and ChiefExecutive Officer of California Food for Albertsons.

Also reporting to Jeff Noddle to provide important transitionsupport are Roe Cefalo, currently Albertsons Executive Vice President,Real Estate Development and New Store Formats, and Kathy Herbert,currently Albertsons Executive Vice President, Human Resources. Inaddition, Bob Borlik, SUPERVALU's recently retired Chief InformationOfficer, will also provide interim technology consulting support,reporting to Knous.

Commenting on local management, Noddle continued, "In addition tomy new executive team, we have very experienced local executivesacross the country that represent the best talent in the field toensure the highest level of operational and service excellence in thegrocery and pharmacy business."

About SUPERVALU

Celebrating its 135th year of fresh thinking, SUPERVALU INC., aFortune 500 company, is one of the largest companies in the UnitedStates grocery channel. With annual revenues of approximately $20billion, SUPERVALU holds leading market share positions across theU.S. with its 1,381 retail grocery locations, including licensedSave-A-Lot locations. Through SUPERVALU's geographically diversesupply chain network, the company provides distribution and relatedlogistics support services to grocery retailers across the nation. Inaddition, SUPERVALU's third-party logistics business providesend-to-end supply chain management solutions that deliver value formanufacturers, consumer products retailers and food service customers.SUPERVALU currently has approximately 50,000 employees. For moreinformation about SUPERVALU visit http://www.supervalu.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FORTHE PURPOSE OF "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIESLITIGATION REFORM ACT OF 1995

Except for the historical and factual information containedherein, the matters set forth in this press release, includingstatements as to the expected benefits of the acquisition such asefficiencies, cost savings, market profile and financial strength, andthe competitive ability and position of the combined company, andother statements identified by words such as "estimates," "expects,""projects," "plans," and similar expressions are forward-lookingstatements within the meaning of the "safe harbor" provisions of thePrivate Securities Litigation Reform Act of 1995. Theseforward-looking statements are subject to risks and uncertainties thatmay cause actual results to differ materially, including requiredapprovals by SUPERVALU and Albertsons stockholders and regulatoryagencies, the possibility that the anticipated benefits from theacquisition cannot be fully realized or may take longer to realizethan expected, the possibility that costs or difficulties related tothe integration of Albertsons operations into SUPERVALU will begreater than expected, the impact of competition and other riskfactors relating to our industry as detailed from time to time in eachof SUPERVALU's and Albertsons reports filed with the SEC. There can beno assurance that the proposed acquisition will in fact beconsummated. You should not place undue reliance on theseforward-looking statements, which speak only as of the date of thispress release. Unless legally required, SUPERVALU undertakes noobligation to update publicly any forward-looking statements, whetheras a result of new information, future events or otherwise.

ADDITIONAL INFORMATION

SUPERVALU and Albertson's have filed a definitive joint proxystatement/prospectus with the Securities and Exchange Commission(SEC). INVESTORS ARE URGED TO READ THE DEFINITIVE JOINT PROXYSTATEMENT/PROSPECTUS BECAUSE IT CONTAINS IMPORTANT INFORMATION. Youcan obtain the definitive joint proxy statement/prospectus, as well asother filings containing information about SUPERVALU and Albertsons,free of charge, at the website maintained by the SEC at www.sec.gov.Copies of the definitive joint proxy statement/prospectus and thefilings with the SEC that will be incorporated by reference in thedefinitive joint proxy statement/prospectus can also be obtained, freeof charge, by directing a request to SUPERVALU INC., 11840 Valley ViewRoad, Eden Prairie, Minnesota, 55344, Attention: Corporate Secretary,or to Albertson's, Inc., 250 East Parkcenter Boulevard, Boise, Idaho,83706-3940, Attention: Corporate Secretary

The respective directors and executive officers of SUPERVALU andAlbertson's and other persons may be deemed to be participants in thesolicitation of proxies in respect of the proposed transaction.Information regarding SUPERVALU's directors and executive officers isavailable in its proxy statement filed with the SEC by SUPERVALU onMay 12, 2005, and information regarding Albertson's directors andexecutive officers is available in its proxy statement filed with theSEC by Albertsons on May 6, 2005. Other information regarding theparticipants in the proxy solicitation and a description of theirdirect and indirect interests, by security holdings or otherwise, iscontained in the joint proxy statement/prospectus.