SUPERVALU Closes Acquisition of Premier Retail Properties of Albertson's

SUPERVALU INC. (NYSE:SVU) today announced that it hascompleted the merger to acquire the premier retail properties ofAlbertson's, Inc., which include the operations of Acme Markets,Bristol Farms, Jewel, Shaw's Supermarkets, Star Markets, andAlbertsons banner stores in the Intermountain West, Northwest andSouthern California regions. SUPERVALU has also acquired the relatedin-store pharmacies under the Osco Drug and Sav-on banners. As aresult of the acquisition, which totals more than 1,100 stores, thenew SUPERVALU becomes the nation's third-largest supermarket chain byrevenues.

"Today, SUPERVALU begins a new era with significant momentum as anational retail powerhouse. This transformational transaction createsa company with some of the nation's most prestigious supermarketbanners, a network of approximately 2,500 store locations in many ofthe best geographies - with leading shares in several major markets -and a massive supply chain to fuel both our own retail operations andserve our valued independent retail customers better than anyone elsecan," said Jeff Noddle, SUPERVALU chairman and chief executiveofficer. "Today, we are a stronger retailer that's well-positioned forthe future."

About SUPERVALU INC.

SUPERVALU INC. is one of the largest companies in the UnitedStates grocery channel. SUPERVALU holds leading market share positionsacross the U.S. with its approximately 2,500 retail grocery locations.Through SUPERVALU's nationwide supply chain network, the companyprovides distribution and related logistics support services to morethan 5,000 grocery retail endpoints across the country. SUPERVALUcurrently has approximately 200,000 employees. For more informationabout 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 filing, including statements asto the expected benefits of the acquisition such as efficiencies, costsavings, market profile and financial strength, and the competitiveability and position of the combined company, and other statementsidentified by words such as "estimates," "expects," "projects,""plans," and similar expressions are forward-looking statements withinthe meaning of the "safe harbor" provisions of the Private SecuritiesLitigation Reform Act of 1995. These forward-looking statements aresubject to risks and uncertainties that may cause actual results todiffer materially, including the possibility that the anticipatedbenefits from the acquisition cannot be fully realized or may takelonger to realize than expected, the possibility that costs ordifficulties related to the integration of Albertsons operations intoSUPERVALU will be greater than expected, the impact of competition andother risk factors relating to our industry as detailed from time totime in SUPERVALU's reports filed with the SEC. You should not placeundue reliance on these forward-looking statements, which speak onlyas of the date of this press release. Unless legally required,SUPERVALU undertakes no obligation to update publicly anyforward-looking statements, whether as a result of new information,future events or otherwise.