Purchase of Select Albertson's, Inc. Businesses Completed by Cerberus Capital Management Led Investor Group

June 2nd, 2006 - Boise, ID - The purchase of select Albertson’s, Inc. businesses has been completed by a group of investors led by Cerberus Capital Management, LP. The group also includes Kimco Realty, Schottenstein Stores Corporation, Lubert-Adler Partners, and Klaff Realty, LP.

The Cerberus-led group has acquired 661 operating stores and 100 percent of the distribution centers and offices in Albertson’s’ Dallas/Fort Worth division and in the Florida, Northern California, Rocky Mountain and Southwestern regions. These stores operate under the Albertson’s and Super Saver banners and also include the combo-store pharmacies under the Osco and Sav-on banners.

The businesses acquired by the Cerberus-led group will operate under the ownership of Albertson's LLC as the successor to Albertson's, Inc. And, as previously announced, Robert Miller will lead the Boise-based company as its Chief Executive Officer.

“Being part of a smaller, privately held organization, we can now accomplish things at the local level that were not practical before. We will have a more targeted focus on what is right for the customer and be able to make those decisions much more quickly and closer to them,” Miller commented.

About Albertson’s LLC Albertson’s LLC is working to become the favorite food and drug retailer in every market it serves. The company employs more than 78,000 associates and operates under the Albertsons banner in Arizona, California, Colorado, Florida, Louisiana, Nebraska, New Mexico, Oklahoma, Texas, South Dakota and Wyoming