<SUBMISSION>
<ACCESSION-NUMBER>0000950152-06-000399
<TYPE>425
<PUBLIC-DOCUMENT-COUNT>6
<FILING-DATE>20060123
<DATE-OF-FILING-DATE-CHANGE>20060123
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>ALBERTSONS INC /DE/
<CIK>0000003333
<ASSIGNED-SIC>5411
<IRS-NUMBER>820184434
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0131
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>425
<ACT>34
<FILE-NUMBER>001-06187
<FILM-NUMBER>06544231
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>250 PARKCENTER BLVD
<STREET2>P O BOX 20
<CITY>BOISE
<STATE>ID
<ZIP>83726
<PHONE>2083956200
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>250 PARKCENTER BLVD
<STREET2>P O BOX 20
<CITY>BOISE
<STATE>ID
<ZIP>83726
</MAIL-ADDRESS>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>ALBERTSONS INC /DE/
<CIK>0000003333
<ASSIGNED-SIC>5411
<IRS-NUMBER>820184434
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0131
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>425
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>250 PARKCENTER BLVD
<STREET2>P O BOX 20
<CITY>BOISE
<STATE>ID
<ZIP>83726
<PHONE>2083956200
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>250 PARKCENTER BLVD
<STREET2>P O BOX 20
<CITY>BOISE
<STATE>ID
<ZIP>83726
</MAIL-ADDRESS>
</FILED-BY>
<DOCUMENT>
<TYPE>425
<SEQUENCE>1
<FILENAME>l18100ae8vk.htm
<DESCRIPTION>ALBERTSON'S, INC.            FORM 8-K/425
<TEXT>
<HTML>
<HEAD>
<TITLE>ALBERTSON'S, INC.            FROM 8-K/425</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>


<DIV align="center">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>



<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Date of report (Date of earliest event reported): January&nbsp;23, 2006
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>ALBERTSON&#146;S, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in Charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Delaware<BR>
(State or Other Jurisdiction of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1-6187<BR>
(Commission File Numbers)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">82-0184434<BR>
(I.R.S. Employer Identification Nos.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">250 Park Center Blvd PO Box 20, Boise Idaho
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">83726</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of Principal Executive Offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Registrant&#146;s telephone number, including area code: (208)&nbsp;395-6200
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">N/A<BR>
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 10pt">(Former Name or Former Address, if Changed Since Last Report)</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#120;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#168;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;8.01 Other Events</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;9.01 Financial Statements and Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002"><U>SIGNATURES</U></A></TD></TR>
<TR><TD colspan="9"><A HREF="l18100aexv99w1.htm">EX-99.1 Press Release</A></TD></TR>
<TR><TD colspan="9"><A HREF="l18100aexv99w2.htm">EX-99.2 Communications Package</A></TD></TR>
<TR><TD colspan="9"><A HREF="l18100aexv99w3.htm">EX-99.3 Communications Package</A></TD></TR>
<TR><TD colspan="9"><A HREF="l18100aexv99w4.htm">EX-99.4 Communications Package</A></TD></TR>
<TR><TD colspan="9"><A HREF="l18100aexv99w5.htm">EX-99.5 Communications For Boise Operations</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;8.01 Other Events" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8.01 Other Events</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January&nbsp;23, 2006, the Company issued a press release announcing that it has entered into
definitive agreements to sell the entire company to a consortium of investors. A copy of the
press release and additional public statements made by the Company in connection with the
transactions described in the press release are included herein as Exhibits 99.1 through 99.5.
These materials are incorporated herein by reference and the foregoing description of the
transaction is qualified in its entirety by reference to such materials.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information required by Item&nbsp;1.01 will be filed in a separate Current Report on Form 8-K.
</DIV>
<!-- link2 "Item&nbsp;9.01 Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Exhibits.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed with this report:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><U>Exhibit No.</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><U>Exhibit Description</U></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release issued by Albertson&#146;s, Inc. on January&nbsp;23, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Communications Package for Southern California, Northwest and
Intermountain regions, Jewel-Osco, Shaw&#146;s and Acme divisions and Bristol Farms</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Communications Package for Rocky Mountain, Southwest, Northern
California and Florida regions, and Dallas/Fort Worth division</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Communications Package for Stand Alone Drug Division</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Communications for Boise Operations</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<!-- link1 "<U>SIGNATURES</U>" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>SIGNATURES</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>ALBERTSON&#146;S, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="right">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ John R. Sims</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">By:&nbsp;&nbsp;&nbsp;&nbsp; John R. Sims&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Executive Vice President &#038; General Counsel&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date: January&nbsp;23, 2006

</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><U>Exhibit No.</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><U>Exhibit Description</U></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release issued by Albertson&#146;s, Inc. on January&nbsp;23, 2006</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Communications Package for Southern California, Northwest and
Intermountain regions, Jewel-Osco, Shaw&#146;s and Acme divisions and Bristol Farms</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Communications Package for Rocky Mountain, Southwest, Northern
California and Florida regions, and Dallas/Fort Worth division</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Communications Package for Stand Alone Drug Division</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Communications for Boise Operations</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>l18100aexv99w1.htm
<DESCRIPTION>EX-99.1 PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.1 Press Release</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>&#091;GRAPHIC&#093;</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>For more information, contact:</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Investor Contact
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">David Parker 208/395-6622
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Media contact
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">George Sard, Citigate Sard Verbinnen 212/687-8080
</DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>ALBERTSONS ANNOUNCES DEFINITIVE AGREEMENT<BR>
TO SELL COMPANY TO SUPERVALU, CVS, AND<BR>
CERBERUS</B>-<B>LED INVESTOR GROUP</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Boise, Idaho (January&nbsp;23, 2006) </I></B>&#151; Albertson&#146;s, Inc. (NYSE:ABS) announced today that it has
entered into a definitive agreement to sell the entire company to a consortium of investors for a
total transaction value of approximately $17.4&nbsp;billion in cash, stock and assumed debt, including
the settlement of the Albertsons Hybrid Income Term Security units. The value of the transaction to
Albertsons&#146; shareowners is approximately $26.29 per share, as described below, representing a
premium of approximately 27&nbsp;percent based on the company&#146;s closing share price of $20.73 on
September&nbsp;1, 2005, the day before it announced it would explore strategic alternatives.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Members of the consortium involved in the transaction are <B>SUPERVALU Inc. </B>(NYSE:SVU), <B>CVS
Corporation </B>(NYSE:CVS), and an investor group led by <B>CERBERUS CAPITAL MANAGEMENT, L.P. </B>that also
includes Kimco Realty, Schottenstein Realty, Lubert-Adler Partners, and Klaff Realty, LP.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Under the terms of the agreement, Albertsons shareholders will receive $20.35 in cash and a fixed
exchange ratio of 0.182 shares of SUPERVALU stock for each Albertsons share, on a fully diluted
basis. The value of the SUPERVALU stock, based on a $32.65 average stock price using the 20&nbsp;day
trading average of the closing price of the SUPERVALU stock through
January&nbsp;20, 2006, is $5.94. The
$20.35 in cash plus $5.94 in SUPERVALU stock yields a total consideration per share of $26.29.
Albertsons shareholders would have an equity ownership of approximately 35&nbsp;percent of the
substantially enlarged SUPERVALU upon completion of the transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Assets and operations will be divided by consortium members as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>SUPERVALU </B>will acquire approximately 1124 operating stores and 100&nbsp;percent of the support
operations for Acme Markets, Bristol Farms, Jewel-Osco, Shaw&#146;s, and Star Markets, as well as all
Albertsons banner stores in Idaho, Southern Nevada, Utah,
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Southern California, and the Northwestern US. Also included are all of the combo-store pharmacies,
which operate under the Osco and Sav-on banners. These assets combined with SUPERVALU&#146;s existing
assets would create a strong new company with 2,656 stores in 48 states plus the District of
Columbia and approximately $44&nbsp;billion in revenues, making it the second largest supermarket
company in America.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>CVS </B>will acquire 100&nbsp;percent of the stand-alone drugstore business, which includes approximately
700 freestanding stores as well as a distribution center located in La Habra, California. CVS will
also acquire Albertson&#146;s ownership interests in the drug store real estate and intends to sell
these interests at or soon after closing in a sale-leaseback transaction. The Sav-on and Osco
banners are not part of the sale to CVS. All stand-alone drugstores included in the transaction
will be re-bannered as CVS.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The <B>CERBERUS</B>-led consortium will acquire 655 operating stores and 100&nbsp;percent of the distribution
centers and offices in Albertsons&#146; Dallas/Fort Worth division, and in the Florida, Northern
California, Rocky Mountain and Southwestern regions. These stores operate under the Albertsons and
Super Saver banners and also include the combo-store pharmacies under the Osco and Sav-on banners.
Cerberus has also purchased 26 Cub Stores from SUPERVALU in the Chicago area for an undisclosed
amount.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">SUPERVALU would provide the necessary transition services to all consortium members for an
unspecified length of time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The transaction is subject to approval by Albertsons and SUPERVALU shareholders as well as
customary regulatory approvals. It is expected to close in mid-2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>COMMENTS ON THE TRANSACTION</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Larry Johnston, Chairman, CEO and President of Albertsons said, &#147;This transaction brings our review
of strategic alternatives to a very successful conclusion. Over the past several years our team has
executed a major restructuring of the company while simultaneously demonstrating strong financial
performance compared to our primary traditional competitors in the areas of earnings, sales and
free cash flow. From the beginning, the objective of our leadership team has been to demonstrate
operational excellence while increasing shareholder value for the company&#146;s large and complex
portfolio of retail assets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This transaction will bring a substantial cash payment to our shareholders. In addition, it also
enables our shareowners to benefit from continuing ownership interest in an exciting new retail
food and drug company. This new company combines powerful brands, leadership positions in key
markets, strong supply chain expertise, highly competitive format differentiation across consumer
segments and the ability to further leverage size and scale on a national basis. We strongly
believe this new opportunity will result in a bright future for all stakeholders.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Johnston continued, &#147;We are also pleased that in addition to maintaining a presence in each
banner&#146;s headquarter city (Jewel-Chicago, Acme-Philadelphia, Shaws-Boston,
</DIV>

<P align="center" style="font-size: 10pt">2
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Albertsons-Los Angeles), SUPERVALU has stated that it intends also to maintain an important
presence in Boise, Idaho for the foreseeable future.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Johnston concluded &#147;In summary, we believe this transaction increases shareholder value by
capturing strong value for the ongoing business enterprise, monetizing valuable real estate assets,
and affording shareowners the opportunity to benefit from a substantial continuing ownership
interest in a powerful, growing, and vibrant new company&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Goldman Sachs &#038; Co. and The Blackstone Group L.P., served as financial advisors and Jones Day
served as legal advisor to Albertsons. Sullivan &#038; Cromwell, LLP served as advisors to Albertsons&#146;
Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>About Albertson&#146;s, Inc.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Albertsons is one of the world&#146;s largest food and drug retailers. The Company&#146;s divisions and
subsidiaries operate approximately 2,500 stores in 37 states across the U.S. and employ
approximately 240,000 associates. Its banners include Albertsons, Acme, Shaw&#146;s, Jewel-Osco, Sav-on
Drugs, Osco Drug, and Star Market, as well as Super Saver and Bristol Farms, which are operated
independently. For more information about Albertsons, please visit our website at
www.albertsons.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF &#147;SAFE HARBOR&#148;
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995</I></B><BR>
<I>Except for the historical and factual information contained herein, the matters set forth in this
filing, including statements as to the expected benefits of the acquisition such as efficiencies,
cost savings, market profile and financial strength, and the competitive ability and position of
the combined company, and other statements identified by words such as &#147;estimates,&#148; &#147;expects,&#148;
&#147;projects,&#148; &#147;plans,&#148; and similar expressions are forward-looking statements within the meaning
of the &#147;safe harbor&#148; provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that may cause actual results to
differ materially, including required approvals by Albertson&#146;s and SUPERVALU shareholders and
regulatory agencies, the possibility that the anticipated benefits from the acquisition cannot be
fully realized or may take longer to realize than expected, the possibility that costs or
difficulties related to the integration of Albertson&#146;s operations into SUPERVALU will be greater
than expected, the impact of competition and other risk factors relating to our industry as
detailed from time to time in each of SUPERVALU&#146;s and Albertson&#146;s reports filed with the SEC. You
should not place undue reliance on these forward-looking statements, which speak only as of the
date of this press release. Unless legally required, Albertson&#146;s undertakes no obligation to update
publicly any forward-looking statements, whether as a result of new information, future events or
otherwise.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>ADDITIONAL INFORMATION</I></B><BR>
<I>SUPERVALU and Albertsons will file a joint proxy statement/prospectus with the Securities and
Exchange Commission (SEC). INVESTORS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS WHEN IT
BECOMES AVAILABLE</I>
</DIV>

<P align="center" style="font-size: 10pt">3
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. You will be able to obtain the joint proxy
statement/prospectus, as well as other filings containing information about SUPERVALU and
Albertson&#146;s, free of charge, at the website maintained by the SEC at www.sec.gov. Copies of the
joint proxy statement/prospectus and the filings with the SEC that will be incorporated by
reference in the joint proxy statement/prospectus can also be obtained, free of charge, by
directing a request to SUPERVALU INC., 11840 Valley View Road, Eden Prairie, Minnesota, 55344,
Attention: Corporate Secretary, or to Albertson&#146;s, Inc., 250 East Parkcenter Boulevard, Boise,
Idaho, 83706-3940, Attention: Corporate Secretary. The respective directors and executive officers
of SUPERVALU and Albertson&#146;s and other persons may be deemed to be participants in the solicitation
of proxies in respect of the proposed transaction. Information regarding SUPERVALU&#146;s directors and
executive officers is available in its proxy statement filed with the SEC by SUPERVALU on May&nbsp;12,
2005, and information regarding Albertson&#146;s directors and executive officers is available in its
proxy statement filed with the SEC by Albertson&#146;s on May&nbsp;6, 2005. Other information regarding the
participants in the proxy solicitation and a description of their direct and indirect interests, by
security holdings or otherwise, will be contained the joint proxy statement/prospectus and other
relevant materials to be filed with the SEC when they become available.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Investors should read the joint proxy statement/prospectus carefully when it becomes available
before making any voting or investment decisions.
</DIV>


<P align="center" style="font-size: 10pt">4
</DIV>

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<SEQUENCE>3
<FILENAME>l18100aexv99w2.htm
<DESCRIPTION>EX-99.2 COMMUNICATIONS PACKAGE
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.2 Communications Package</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.2</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>I. </B><U><B>Employee Broadcast Script</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Audience: </B>Store Directors &#038; Store Support Center associates: Albertsons Southern California,
Northwest, and Intermountain regions, Jewel-Osco, Shaw&#146;s, Acme, and Bristol Farms divisions
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Division President on Camera:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Hello, and thank you for joining me today. As you have all heard by now, Albertsons announced this
morning that the company has entered into a definitive agreement to sell our division/region,
<B>&#091;version for your area&#093; </B>along with Albertsons in the Northwest, Intermountain, and Southern
California regions; and Shaw&#146;s, Jewel, Acme, and Bristol Farms divisions to Supervalu. <B>&#091;Omit your
division&#093;</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I understand that this is a lot
of information to absorb, and while change can be exciting, I
recognize that it can also be unsettling. But, I firmly believe the changes that we are making
today will mark the beginning of a very exciting new chapter in our company&#146;s history.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You all work very hard every day to ensure we&#146;re an industry leader in the areas of market value,
scale, profitability, customer service, and associate satisfaction. You are committed to our
vision, to our mission, and to our core values ... and because of that I am proud to be your
leader! In each of our markets today, we face different challenges as we strive to reach our
vision. We must continue to look at our customers&#146; needs and make the changes needed to survive in
this fiercely competitive retail environment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">By joining the Supervalu team, our division will become a part of a national retail and pharmacy
powerhouse ... part of the nation&#146;s largest <U>grocery</U> network of 2,600-plus food stores in 43
states.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">By combining the experience that exists on this team with Supervalu to create a new larger and
stronger company, we will be poised to effectively compete in today&#146;s competitive marketplace and
position ourselves to win.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Joining the Supervalu team opens up for our division the tremendous opportunity to become a part of
a progressive company that shares many of the same core values and strategic imperatives that have
helped us to be successful in the markets we serve.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Supervalu prides itself on operating a diversified portfolio of regional banners that are locally
managed and branded, with strong market shares. Adding our strong brand to this team will allow us
to leverage Supervalu&#146;s extensive expertise in supply chain and the price impact format, while
continuing to serve our communities and giving our customers what they are looking for.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Like our team, Supervalu places a strong focus on local merchandising ... enabling them to serve a
wide demographic of consumers across the economic spectrum, from cost-conscious to upscale.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I would also like to point out that our two companies have similar cultures and values ...
Supervalu&#146;s core values include focus, integrity, passion, standards and urgency. And more
importantly, Supervalu shares the same commitment to the communities in which it operates, which
means we will continue our traditions in corporate philanthropy.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">While the agreement was announced this morning&#151;it is important to understand that it is still
subject to shareholder approval, from both companies and it must also receive the customary
regulatory approvals. Supervalu has stated that it expects the deal to close in mid-2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">What that means is that we need to focus on running our business and our number one priority &#151;
which is taking care of our customers. In addition, we need to focus on achieving our fourth
quarter targets, and making sure that we continue to deliver results.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I expect in coming weeks that we will meet members of the Supervalu team and that we will soon be
getting more information around this proposed acquisition and how it could affect our business
processes once the deal has been approved by shareholders.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Considering the size and scope of this transaction, the transition time will likely last a period
of many months. During this process, we will keep you informed of decisions made as quickly as
possible. We have established several channels of communications to answer any questions you may
have, and will provide additional information as it becomes available. Cluster meetings will be
held in the near future to discuss the company changes, answer questions, and talk about any
additional details, announcements, or developments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The transformation we are going through is one that is critical to positioning ourselves to compete
in a retail environment that just gets more and more competitive every year. As you have already
proven time and again, you are a committed and flexible team that is able to embrace and adapt to
change while continuing to drive the business forward. Please remain focused on serving our
customers, and we will do our best to keep you informed over the coming weeks and months.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I thank you again for your attention today. Your involvement and support are critical ...now and
going forward. As we continue to make changes in the months ahead, I urge you to make everything
you can of this opportunity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>II. </B><U><B>Customer Q&#038;A</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>FOR USE BY ASSOCIATES: </B>Albertsons Southern California, Northwest, and Intermountain regions; and
Jewel-Osco, Shaw&#146;s, Acme, and Bristol Farms divisions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Customer Q&#038;A</B></U><B>:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>I heard that this store has been sold to a new company?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yes, our parent company, Albertsons, has recently announced that <B>&#091;our division or insert
banner&#093; </B>has entered into an agreement to sell this division to Supervalu.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will they change the name of the store?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At this time, we have no reason to believe that Supervalu will change the name of the store.
</TD>
</TR>
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will the store stay open?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The deal is still subject to approval, and it won&#146;t close until later this year. At this
time, we have no reason to believe that Supervalu will close this store.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>4.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will there be any changes in your stores?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Supervalu is an outstanding company, and we expect that the change in ownership will be
seamless to our customers.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>5.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will Supervalu lay people off?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The deal is still subject to approval, and it won&#146;t close until later this year. The company
has made no announcements of layoffs.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>6.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will they still carry the same products?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Supervalu shares our same commitment to offering products that best meet the needs of the
communities we serve. We are confident that under our new parent company, we will continue
to provide the customer service, quality foods, and selection that you are used to.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>III. </B><U><B>Employee Communications (Stores)</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>FOR USE BY DIVISION TEAMS &#038; STORE DIRECTORS: </B>Albertsons Southern California, Northwest, and
Intermountain regions; and Jewel-Osco, Shaw&#146;s, Acme, and Bristol Farms divisions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Talking Points</B></U><B>:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As you have all heard by now, Albertsons announced this morning that the company has
entered into a definitive agreement to sell our <B>&#091;division/region&#093;, </B>along with Shaw&#146;s,
Jewel, Acme, Bristol Farms, and Albertsons in the Northwest, Intermountain, and Southern
California regions to Supervalu. <B>&#091;Omit your division&#093;</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While change is very exciting, I recognize that it can also be unsettling. That&#146;s why I
would like to take a few minutes this morning to assure you that this announcement marks
the beginning of a very exciting new chapter in our company&#146;s history.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By joining the Supervalu team&nbsp;&#151; our division will become a part of national retail and
pharmacy powerhouse... part of the nation&#146;s largest <U>grocery</U> network of 2,600-plus
food stores in 48 states.</TD>
</TR>
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By combining the experience that exists on this team with Supervalu to create a new
larger and stronger company we will be able to effectively compete in today&#146;s competitive
marketplace and position ourselves to win.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Joining the Supervalu team opens up for our division the tremendous opportunity to
become a part of a progressive company that shares many of the same core values and
strategic imperatives that have helped us to be successful in the markets we serve.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Supervalu prides itself on operating a diversified portfolio of regional banners that
are locally managed and branded- with strong market shares. Adding our strong brand to
this team will allow us to leverage Supervalu&#146;s extensive expertise in supply chain and the
price impact format, while continuing to serve our communities and giving our customers
what they are looking for.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Like our team, Supervalu places a strong focus on local merchandising... enabling them
to serve a wide demographic of consumers across the economic spectrum, from cost-conscious
to upscale.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I would also like to point out that our two companies have similar cultures and
values... Supervalu&#146;s core values include focus, integrity, passion, standards and urgency.
And more importantly, Supervalu shares the same commitment to the communities in which it
operates, and will continue our traditions in corporate philanthropy.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While the agreement was announced this morning&#151;it is important to understand that it is
still subject to shareholder approval and it must also receive the customary regulatory
approvals. We expect the deal to close by mid-2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>What that means is that we need to focus on running our business and our number one
priority &#151; which is taking care of our customers. In addition, we need to focus on
achieving our fourth quarter targets, and making sure that we continue to deliver results.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I expect in coming weeks that we will meet members of the Supervalu team and that we
will soon be getting more information around this proposed acquisition and how it could
affect our business processes once the deal has been approved by shareholders.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Until then, I encourage you to keep your teams focused on running the business... take
their questions and explain that we may not have all of the answers right away.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The company has also established the following channels of communications to answer any
questions you may have, and will provide additional information when it becomes available:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="7%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#151;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Company Portal</I></B>: Beginning this week, information regarding the
transaction will be posted on the company&#146;s Intranet as soon as it becomes
available. A link to the &#147;Get Connected&#148; site will be found on the home page under
the Company Links section. You will also be able to access the site by typing &#147;Get
Connected&#148; into your Internet browser. The Get Connected site will be updated
frequently with</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #textcolor#; background: #bgcolor#">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>news, answers to frequently asked questions, and other information to help you
through the transition.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Now, I can open it up for a few questions.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>IV. </B><U><B>Employee Q&#038;A (Stores)</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>When will we know if the sale is definitely approved?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The transaction is subject to approval by shareholders, as well as the customary regulatory
approvals. We expect the transaction to close by mid-2006.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Is there a chance that the deal won&#146;t go through? If so, what could stop it?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The transaction is subject to approval by the shareholders of all companies as well as the
customary regulatory approvals.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Will Supervalu keep the Albertsons/Shaw&#146;s/Acme/Jewel/Bristol Farms banner name?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Supervalu has not detailed its plans for any changes in stores operations, including whether
or not it will change the names of our banners. However, the company has said that these are the
assets they want.... great brands, great locations, and great people. The company has acknowledged that our local brands
are well-recognized and have a lot of equity with the consumers we serve.

</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does the buyer plan to keep all of the associates in the stores?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is our understanding that Supervalu continues to grow the business we have established
and build on the successes that we have achieved in our local markets. Supervalu has said
that by engaging in this deal it is gaining exceptional managerial talent and a
highly-skilled employee base.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Will stores be forced to close due anti-trust concerns?</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The agreement is subject to anti-trust review and we will share more information as we
receive it.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does the buyer plan to keep all of the associates in the corporate/division offices, or will there
be layoffs?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is our understanding that Supervalu continues to grow the business we have established and
build on the successes that we have achieved in the local markets. Supervalu has said that by
engaging in this deal it is gaining exceptional managerial talent and a highly-skilled employee
base.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What is the timeline for the integration? When will changes be announced?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It is our understanding that upon successful
completion of the transaction &#151; which is expected
to occur in mid-2006 &#151; Supervalu will be intensely focused on bringing the best forward &#151;
including people, systems and processes &#151; from both companies. They expect that this planned and
paced transition will take up to three years.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Are the two corporate cultures similar or different?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The approximately 200,000 combined employees share a lot in common: deep roots in local
communities, proven expertise in the grocery industry and a strong commitment to customer service.
The merger of these two companies represents a winning combination of two very powerful forces in
food retail.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How can we find out more about the buyer?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">On Tuesday, SUPERVALU&#146;s Chairman and CEO Jeff Noddle will speak to all of you in a broadcast
to all associates in the divisions that SUPERVALU has purchased. You may also find out more
about SUPERVALU by calling the company&#146;s Newsline recording. That number will be provided
as soon as possible.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">Similar to our strategic imperatives, Supervalu has seven key principles that it has shared
with us to help us understand what the company stands for.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">1. SUPERVALU is a dynamic company, on the leading edge of innovation and poised for
strategic growth.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">2. SUPERVALU has deep roots in the grocery industry, with more than 135&nbsp;years of retailing and
supply chain knowledge and expertise.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">3. SUPERVALU five core values of focus, integrity, passion, standards and urgency underline
everything we do.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">4. SUPERVALU is committed to the communities in which we operate.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">5. SUPERVALU&#146;s retail network, which consists of more than 1,500 stores, is strongly
connected to the local marketplace, allowing our stores to meet the needs of a diverse
customer base.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">6. SUPERVALU&#146;s supply chain footprint offers a broad suite of logistics solutions and
operational efficiency programs, which help our independent retail customers serve their
consumers as effectively as possible.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">7. SUPERVALU&#146;s employees are our strength. We invest in their careers, support their
development, and encourage them to enrich their professional life through volunteerism and
community engagement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Are there legal restrictions regarding what can and cannot be shared between ABS and the buyer
during the transition period before the deal is approved?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yes, there are restrictions about what can and cannot be shared, and our legal department has
developed guidelines for us to abide by prior to shareholder and regulatory approval of the
transaction. If you have specific questions about what information can and cannot be shared,
please contact your supervisor.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does this mean that there is no more Albertsons?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As detailed in this morning&#146;s announcement, Albertsons Board of Directors has entered into
an agreement to sell the company to a consortium of three buyers: Cerberus, which has
purchased Albertsons&#146; DFW, Northern California, Rocky Mountain, Florida, and Phoenix food
store divisions; CVS, which has purchased the stand-alone drug division, and Supervalu,
which has purchased the Albertsons Southern California and Northwest divisions, Acme,
Shaw&#146;s, Jewel-Osco divisions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Albertsons will not exist as it does today, since assets are going to three different
groups, and its stock will no longer be listed on the NYSE. As for the brand name, it will
be up to SVU to determine whether to continue using the Albertsons brand.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>HR/Benefits Questions:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>ASRE, Pay to Stay, Stock options, Cobra plans, Severance details, vacation, education
reimbursement, job openings...</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The transaction is not expected to be complete until mid-2006. Once the deal is approved,
Supervalu will be prepared to share with you all of the details of its benefits plans, including
health care, vacation, and employment opportunities.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Like Albertsons, Supervalu prides itself on being a company that recognizes that its
strengths lie with its people, so we should take comfort in the fact that Supervalu is a
company that historically has taken care of its associates and recognizes that its
associates as a tremendous asset.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>V. </B><U><B>Employee Communication (Distribution Centers)</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>FOR USE BY DISTRIBUTION CENTERS: </B>Albertsons Southern California, Northwest, and Intermountain
regions; and Jewel-Osco, Shaw&#146;s, Acme, and Bristol Farms divisions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Talking Points</B></U><B>:</B>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As you have all heard by now, Albertsons announced this morning that the company has
entered into a definitive agreement to sell our <B>&#091;division/region&#093;, </B>along with Shaw&#146;s,
Jewel, Acme, Bristol Farms, and Albertsons in the Northwest, Intermountain, and Southern
California regions to Supervalu. <B>&#091;Omit your division&#093;</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While change can be exciting, I recognize that it can also be unsettling. That&#146;s why I
would like to take a few minutes this morning to assure you that this announcement marks
the beginning of a very exciting new chapter in our company&#146;s history.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By joining the Supervalu team&#151; our distribution center will become a part of national
retail and pharmacy powerhouse... part of the nation&#146;s largest <U>grocery</U> network of
2,600-plus food stores in 48 states.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>SUPERVALU operates 24 distribution centers in 17 states from Washington to New York. On
a daily basis, it manages the logistics for approximately one billion cases of grocery
products and perishables from more than 500 manufacturers to more than 4,000 retail end
points.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By combining the experience that exists on this team with Supervalu to create a new
larger and stronger company we will be able to effectively compete in today&#146;s competitive
marketplace and position ourselves to win.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Joining the Supervalu team opens up for our distribution center the tremendous
opportunity to become a part of a progressive company that shares many of the same core
values and strategic imperatives that have helped us to be successful in the markets we
serve.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Supervalu prides itself on operating a diversified portfolio of regional banners that
are locally managed and branded- with strong market shares. Adding our strong brand to
this team will allow us to leverage Supervalu&#146;s extensive expertise in supply chain and the
price impact format, while continuing to serve our communities and giving our customers
what they are looking for.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Like our team, Supervalu places a strong focus on local merchandising... enabling them
to serve a wide demographic of consumers across the economic spectrum, from cost-conscious
to upscale.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I would also like to point out that our two companies have similar cultures and
values... Supervalu&#146;s core values include focus, integrity, passion, standards and urgency.
And more importantly, Supervalu shares the same commitment to the communities in which it
operates, and will continue our traditions in corporate philanthropy.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While the agreement was announced this morning&#151;it is important to understand that it is
still subject to shareholder approval and it must also receive the customary regulatory
approvals. We expect the deal to close by mid-2006.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>What that means is that we need to focus on running our business and our number one
priority &#151; which is taking care of our stores.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I expect in coming weeks that we will meet members of the Supervalu team and that we
will soon be getting more information around this proposed acquisition and how it could
affect our business processes once the deal has been approved by shareholders.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Until then, I encourage you to keep your teams focused on running the business... take
their questions and explain that we may not have all of the answers right away.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The company has also established the following channels of communications to answer any
questions you may have, and will provide additional information when it becomes available:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Company Portal</I></B>: Beginning next week, information regarding the
transaction will be posted on the company&#146;s Intranet as soon as it becomes
available. A link to the &#147;Get Connected&#148; site will be found on the home page under
the Company Links section. You will also be able to access the site by typing &#147;Get
Connected&#148; into your Internet browser. The Get Connected site will be updated
frequently with news, answers to frequently asked questions, and other information
to help you through the transition.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Now, I can open it up for a few questions.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>VI. </B><U><B>Employee Q&#038;A (Distribution Centers)</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>When will we know if the sale is definitely approved?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The transaction is subject to approval by shareholders as well as the customary regulatory
approvals. We expect the transaction to close by mid-2006.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Is there a chance that the deal won&#146;t go through? If so, what could stop it?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The transaction is subject to approval by the shareholders involved in the transaction as
well as the customary regulatory approvals.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Will Supervalu keep the Albertsons/Shaw&#146;s/Acme/Jewel/Bristol Farms banner name?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Supervalu has not detailed its plans for any changes in stores operations, including whether
or not it will change the names of our banners. However, the company has said that these
are the assets they want... great brands, great locations, and great people. The company
has acknowledged that our local brands are well-recognized and have a lot of equity with the
consumers we serve.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does the buyer plan to keep all of the associates in the stores and distribution centers?</I></B>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is our understanding that Supervalu continues to grow the business we have established
and build on the successes that we have achieved in the local markets. Supervalu has said
that by engaging in this deal it is gaining exceptional managerial talent and a
highly-skilled employee base.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Will stores be forced to close due anti-trust concerns?</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The agreement is subject to anti-trust review and we will share more information as we
receive it.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does the buyer plan to keep all of the associates in the corporate/division/DC offices, or will
there be layoffs?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is our understanding that Supervalu continues to grow the business we have established
and build on the successes that we have achieved in the local markets. Supervalu has said
that by engaging in this deal it is gaining exceptional managerial talent and a
highly-skilled employee base.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What is the timeline for the integration? When will changes be announced?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is our understanding that upon successful completion of the transaction, which is
expected to occur in mid-2006, Supervalu will be intensely focused on bringing the best
forward &#151; including people, systems and processes, from both companies. They expect that
this planned and paced transition will take up to three years.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Are the two corporate cultures similar or different?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The approximately 200,000 combined employees share a lot in common: deep roots in local
communities, proven expertise in the grocery industry and a strong commitment to customer
service. The merger of these two companies represents a winning combination of two very
powerful forces in food retail.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How can we find out more about the buyer?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>On Tuesday, SUPERVALU&#146;s Chairman and CEO Jeff Noddle will speak to all of you in a broadcast
to all associates in the divisions that SUPERVALU has purchased. You may also find out more about
SUPERVALU by calling the company&#146;s Newsline recording. That phone number will be provided shortly.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Similar to our strategic imperatives, Supervalu has seven key principles that it has shared
with us to help us understand what the company stands for.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">1. SUPERVALU is a dynamic company, on the leading edge of innovation and poised for
strategic growth.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">2. SUPERVALU has deep roots in the grocery industry, with more than 135&nbsp;years of retailing and
supply chain knowledge and expertise.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">3. SUPERVALU five core values of focus, integrity, passion, standards and urgency underline
everything we do.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">4. SUPERVALU is committed to the communities in which we operate.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">5. SUPERVALU&#146;s retail network, which consists of more than 1,500 stores, is strongly
connected to the local marketplace, allowing our stores to meet the needs of a diverse
customer base.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">6. SUPERVALU&#146;s supply chain footprint offers a broad suite of logistics solutions and
operational efficiency programs, which help our independent retail customers serve their
consumers as effectively as possible.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">7. SUPERVALU&#146;s employees are our strength. We invest in their careers, support their
development, and encourage them to enrich their professional life through volunteerism and
community engagement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Are there legal restrictions regarding what can and cannot be shared between ABS and the buyer
during the transition period before the deal is approved?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yes, there are restrictions about what can and cannot be shared, and our legal department has
developed guidelines for us to abide by prior to shareholder and regulatory approval of the
transaction. If you have specific questions about what information can and cannot be shared,
please contact your supervisor.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does this mean that there is no more Albertsons?</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As detailed in this morning&#146;s announcement, Albertsons entered into an agreement to sell the
company to a consortium of three buyers: Cerberus, which has purchased Albertsons&#146; DFW, Northern
California, Rocky Mountain, Florida, and Phoenix food store divisions; CVS, which has purchased the
stand-alone drug division, and Supervalu, which has purchased the Albertsons Southern California
and Northwest divisions, Acme, Shaw&#146;s, Jewel- Osco divisions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Albertsons will not exist as it does today, since assets are going to three different groups,
and its stock will no longer be listed on the NYSE. As for the brand name, it will be up to SVU to
determine whether to continue using the Albertsons brand.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>HR/Benefits Questions:</B>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>ASRE, Pay to Stay, Stock options, Cobra plans, Severance details, vacation, education
reimbursement, job openings...</I></B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The transaction is not expected to be complete until mid-2006. Once the deal is approved,
Supervalu will be prepared to share with you all of the details of its benefits plans,
including health care, vacation, and employment opportunities.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Like Albertsons, Supervalu prides itself on being a company that recognizes that its
strengths lie with its people, so we should take comfort in the fact that Supervalu is a
company that historically has taken care of its associates and recognizes that its
associates as a tremendous asset.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF &#147;SAFE HARBOR&#148;
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995</I></B><BR>
<I>Except for the historical and factual information contained herein, the matters set forth in this
filing, including statements as to the expected benefits of the acquisition such as efficiencies,
cost savings, market profile and financial strength, and the competitive ability and position of
the combined company, and other statements identified by words such as &#147;estimates,&#148; &#147;expects,&#148;
&#147;projects,&#148; &#147;plans,&#148; and similar expressions are forward-looking statements within the meaning
of the &#147;safe harbor&#148; provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that may cause actual results to
differ materially, including required approvals by Albertson&#146;s and SUPERVALU shareholders and
regulatory agencies, the possibility that the anticipated benefits from the acquisition cannot be
fully realized or may take longer to realize than expected, the possibility that costs or
difficulties related to the integration of Albertson&#146;s operations into SUPERVALU will be greater
than expected, the impact of competition and other risk factors relating to our industry as
detailed from time to time in each of SUPERVALU&#146;s and Albertson&#146;s reports filed with the SEC. You
should not place undue reliance on these forward-looking statements, which speak only as of the
date of this press release. Unless legally required, Albertson&#146;s undertakes no obligation to update
publicly any forward-looking statements, whether as a result of new information, future events or
otherwise.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>ADDITIONAL INFORMATION</I></B><BR>
<I>SUPERVALU and Albertsons will file a joint proxy statement/prospectus with the Securities and
Exchange Commission (SEC). INVESTORS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS WHEN IT
BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. You will be able to obtain the
joint proxy statement/prospectus, as well as other filings containing information about SUPERVALU
and Albertson&#146;s, free of charge, at the website maintained by the SEC at www.sec.gov. Copies of
the joint proxy statement/prospectus and the filings with the SEC that will be incorporated by
reference in the joint proxy statement/prospectus can also be obtained, free of charge, by
directing a request to SUPERVALU INC., 11840 Valley View Road, Eden Prairie, Minnesota, 55344,
Attention: Corporate Secretary, or to Albertson&#146;s, Inc., 250 East Parkcenter Boulevard, Boise,
Idaho, 83706-3940, Attention: Corporate Secretary. The respective directors and executive officers
of SUPERVALU and Albertson&#146;s and other persons may be deemed to be participants in the</I>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>solicitation of proxies in respect of the proposed transaction. Information regarding SUPERVALU&#146;s
directors and executive officers is available in its proxy statement filed with the SEC by
SUPERVALU on May&nbsp;12, 2005, and information regarding Albertson&#146;s directors and executive officers
is available in its proxy statement filed with the SEC by Albertson&#146;s on May&nbsp;6, 2005. Other
information regarding the participants in the proxy solicitation and a description of their direct
and indirect interests, by security holdings or otherwise, will be contained the joint proxy
statement/prospectus and other relevant materials to be filed with the SEC when they become
available.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Investors should read the joint proxy statement/prospectus carefully when it becomes available
before making any voting or investment decisions.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>l18100aexv99w3.htm
<DESCRIPTION>EX-99.3 COMMUNICATIONS PACKAGE
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.3 Communications Package</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.3</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>I. </B><U><B>Employee Broadcast Script</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Audience: </B>Store Directors &#038; Store Support Center associates: Albertsons (and Super Saver) Rocky
Mountain, Southwest, Northern California, and Florida regions; and Dallas Fort/Worth division
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Division President on Camera:</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Hello, and thank you for joining me today. As you have all heard by now, Albertsons announced this
morning that the company has entered into a definitive agreement to sell our <B>&#091;division/region&#093;,</B>
along with the Albertsons Rocky Mountain, Southwest, Northern California and Florida regions; and
the Dallas/Fort Worth division <B>&#091;Omit your division&#093; </B>to an investment consortium led by Cerberus
Capital Management, which also includes Kimco Realty, Schottenstein Realty, Klaff Realty, and
Lubert-Adler Partners.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I understand that this is a lot of information to absorb, and while we deal with change almost
daily in the retail environment, I recognize that it can also be very unsettling. Our team works
hard every day to deliver exceptional service to our customers. You are committed to our vision,
to our mission, and to our core values ... and because of that I am proud to be your leader! In
each of our markets today, we face different challenges as we strive to reach our vision. We must
continue to look at our customers&#146; needs and make the changes needed to survive in this fiercely
competitive retail environment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Now, let me tell you what I know about the company that has submitted a bit to purchase our
<B>region&#146;s/division&#146;s </B>operations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Headquartered in New York City, Cerberus Capital Management, L.P. and its affiliated entities
manage funds and accounts with capital in excess of $16&nbsp;billion.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">While we do not know yet what this consortium&#146;s plans are for our <B>&#091;division/region&#093;, </B>we do know
that this firm traditionally looks for undervalued assets that it can acquire and help grow.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Given all of our hard work and commitment to serving our customers in this region... I believe that
this announcement marks the beginning of a very exciting new chapter in our company&#146;s history.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our <B>&#091;division/region&#093;</B>, like the other regions that will be acquired by the Cerberus-led consortium,
is in a unique position, in that we operate in some of the nation&#146;s most competitive markets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">By becoming part of a private company that is skilled in strengthening undervalued assets... we
expect to get the resources we need to improve and grow to better meet the needs of our customers.
The outcome we expect is that, we will be better positioned to compete in these very difficult
market conditions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">While the agreement was announced this morning&#151;it is important to understand that it is still
subject to shareholder approval and it must also receive the customary regulatory approvals. We
expect the deal to close in mid-2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">What that means is that we need to focus on running our business and our number one priority &#151;
which is taking care of our customers. In addition, we need to focus on achieving our fourth
quarter targets, and making sure that we continue to deliver results.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Today, our <B>&#091;region&#146;s/division&#146;s&#093; </B>officers and directors will participate in a phone call with Larry
Johnston and Howard Cohen, the gentleman who will lead the new business. I expect Mr.&nbsp;Cohen will
have more to share about his plans for the future of our &#091;<B>division/region&#093;</B>, and we will share
details as we receive them.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Considering the size and scope of this transaction, the transition time will last a period of many
months. During this process, we will keep you informed of decisions made as quickly as possible.
We have established several channels of communications to answer any questions you may have, and
will provide additional information when it becomes available. Cluster meetings
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">will also be held in the near future to discuss the company changes, answer questions, and talk
about any additional details, announcements, or developments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The transformation we are going through is one that is critical to positioning ourselves to compete
in a retail environment that just gets tougher every year. As you have already proven time and
again, you are a committed and flexible team that is able to embrace and adapt to change while
continuing to drive the business forward. Please remain focused on serving our customers, and we
will do our best to keep you informed over the coming weeks and months.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I thank you again for your attention today. Your involvement and support are critical ...now and
going forward. As we continue to make changes in the months ahead, I urge you to make everything
you can of this opportunity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thank you.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>II. </B><U><B>Customer Q&#038;A</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>FOR USE BY ASSOCIATES: </B>Albertsons (and Super Saver) Rocky Mountain, Southwest, Northern
California, and Florida regions; and Dallas Fort/Worth division
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Customer Q&#038;A</B></U><B>:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>I heard that this store has been sold to a new company?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yes, our parent company, Albertsons, has recently announced that <B>&#091;our division or insert
banner&#093; </B>has entered into a definitive agreement to be sold to Cerberus, a New York-based
private equity firm.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will they change the name of the store?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At this time, we have no reason to believe that the name will be changed.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will the store stay open?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The deal is still subject to approval, and it won&#146;t close until later this year. At this
time, we have no reason to believe that our store will be closed.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>4.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will there be any changes in your stores?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Cerberus is an outstanding company that invests in undervalued assets and helps them grow,
and we expect that the change in ownership will be seamless to our customers.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>5.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will Cerberus lay people off?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The deal is still subject to approval, and it won&#146;t close until later this year. The company
has made no announcements of layoffs.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>6.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will they still carry the same products?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We expect the change in ownership will be seamless to our customers.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>III. </B><U><B>Employee Communications (Stores)</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>FOR USE BY DIVISION TEAMS &#038; STORE DIRECTORS: </B>Albertsons (and Super Saver) Rocky Mountain,
Southwest, Northern California, and Florida regions; and Dallas Fort/Worth divisions
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Talking Points</B></U><B>:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As you have all heard by now, Albertsons announced this morning that the company has
entered into a definitive agreement to sell our <B>&#091;division/region&#093;, </B>along with the
Albertsons Rocky Mountain, Southwest, Northern California, Florida regions; and the
Dallas/Fort Worth division, <B>&#091;Omit your division&#093; </B>to an investment consortium led by
Cerberus Capital Management, which also includes Kimco Realty, Schottenstein Realty, Klaff
Realty and Lubert-Adler Partners.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I would like to point out that the agreement announced today is still subject to
shareholder approval, as well as the customary regulatory approvals.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Now, let me tell you what I know about the company that would like to purchase our
region&#146;s operations.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Headquartered in New York City, Cerberus Capital Management, L.P. and its affiliated
entities manage funds and accounts with capital in excess of $16&nbsp;billion.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While we do not know yet what this consortium&#146;s plans are for our <B>&#091;division/region&#093;, </B>we
do know that this firm traditionally looks for undervalued assets that it can acquire and
help grow.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Given all of our hard work and commitment to serving our customers in this region... I
believe that this announcement marks the beginning of a very exciting new chapter in our
company&#146;s history.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our region, like the other regions that will be acquired by the Cerberus-led consortium,
is in a unique position, in that we operate in some of the nation&#146;s most competitive
markets.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By becoming part of a private company that is skilled in strengthening undervalued
assets... we expect to get the resources we need to improve and grow to better meet the
needs of our customers. The outcome, we expect is that, we will be better positioned to
compete in these very difficult market conditions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While the agreement was announced this morning&#151;it is important to understand that it is
still subject to shareholder approval, and it must also receive the customary regulatory
approvals. We expect the deal to close by mid-2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>What that means is that we need to focus on running our business and our number one
priority &#151; which is taking care of our customers. In addition, we need to focus on
achieving our fourth quarter targets, and making sure that we continue to deliver results.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Today, our region&#146;s officers and directors will participate in a phone call with Larry
Johnston and Howard Cohen, the gentleman who will lead the new business. I expect Mr.
Cohen will have more to share about his plans for the future of our region, and we will
share details as we receive them. Mr.&nbsp;Cohen is scheduled to tape a broadcast to the
associates in our region this week.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Until then, I encourage you to keep your teams focused on running the business... take
their questions and explain that we may not have all of the answers right away.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The company has also established the following channels of communications to answer any
questions you may have during the transition, and will provide additional information as
it becomes available:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 1pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Company Portal</I></B>: Beginning next week, information regarding the
transaction will be posted on the company&#146;s Intranet as soon as it becomes
available. A link to the &#147;Get Connected&#148; site will be found on the home page under
the Company Links section. You will also be able to access the site by typing &#147;Get
Connected&#148; into your Internet browser. The Get Connected site will be updated
frequently with news, answers to frequently asked questions, and other information
to help you through the transition.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Now, I can open it up for a few questions.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>IV. </B><U><B>Employee Q&#038;A (Stores)</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>When will we know if the merger is definitely approved?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The transaction is subject to shareholder approval as well as the customary regulatory
approvals. The transaction is expected to close by mid-2006.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Is there a chance that the deal won&#146;t go through? If so, what could stop it?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Our Board recommends that the shareholders approve the transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Will Cerberus keep the Albertsons/Super Saver banner names?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Cerberus has not detailed its plans for any changes in stores operations, including whether
or not it will change the names of our banners. We will share that information as soon as
it becomes available.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does the buyer plan to keep all of the associates in the stores?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Again, we have not yet received any information from Cerberus on the future of our
associates, but we promise to share that information with you as soon as it becomes
available.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Does the buyer plan to keep all of the associates in the corporate/division offices, or will there
be layoffs?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Again, we have not yet received any information from Cerberus on the future of our
associates, but we promise to share that information with you as soon as it becomes
available.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What is the timeline for the integration? When will changes be announced?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">There will be little if any visible change to the business while the deal is still subject
to shareholder approval. As I mentioned, the company expects the deal to close by mid-2006.
And as soon as we receive more information about a transition schedule, we will share that
with you.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How can we find out more about the buyer?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">As we mentioned, our management teams will be speaking with the leader for Cerberus, and we
will let you know more as we receive information.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Are there legal restrictions regarding what can and cannot be shared between ABS and the buyer
during the transition period before the deal is approved?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Yes, there are restrictions about what can and cannot be shared, and our legal department has
developed guidelines for us to abide by prior to shareholder and regulatory approval of the
transaction. If you have specific questions about what information can and cannot be shared,
please contact your supervisor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does this mean that there is no more Albertsons?</I></B>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">As detailed in this morning&#146;s announcement, Albertsons entered into an agreement to sell the company to a
consortium of three buyers: Cerberus, which has purchased Albertsons&#146; DFW, Northern California, Rocky
Mountain, Florida, and Phoenix food store divisions; CVS, which has purchased the stand-alone drug division,
and Supervalu, which has purchased the Albertsons Southern California and Northwest divisions, Acme, Shaw&#146;s,
Jewel-Osco divisions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Albertsons will not exist as it does today, since assets are going to three different groups, and its
stock will no longer be listed on the NYSE. As for the brand name, it will be up to SVU
to determine whether to continue using the Albertsons brand.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>HR/Benefits Questions:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>ASRE, Pay to Stay, Stock options, Cobra plans, Severance details, vacation, education
reimbursement, job openings...</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The transaction is not expected to be complete until mid-2006. Once the deal is approved,
Cerberus will be prepared to share with you all of the details of its benefits plans,
including health care, vacation, and employment opportunities.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>V. </B><U><B>Employee Communication (Distribution Centers)</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>FOR USE BY DISTRIBUTION CENTERS: </B>Albertsons (and Super Saver) Rocky Mountain, Southwest, Northern
California, and Florida regions; and Dallas Fort/Worth divisions
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Talking Points</B></U><B>:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As you have all heard by now, Albertsons announced this morning that the company has
entered into a definitive agreement to sell our <B>&#091;division/region&#093;, </B>along with the
Albertsons Rocky Mountain, Southwest, Northern California, Florida regions; and the
Dallas/Fort Worth division, <B>&#091;Omit your division&#093; </B>to an investment consortium led by
Cerberus Capital Management, which also includes Kimco Realty, Schottenstein Realty, Klaff
Realty and Lubert-Adler Partners.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I would like to point out that the agreement announced today is still subject to
shareholder approval, as well as the customary regulatory approvals.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Now, let me tell you what I know about the company that would like to purchase our
region&#146;s operations.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Headquartered in New York City, Cerberus Capital Management, L.P. and its affiliated
entities manage funds and accounts with capital in excess of $16&nbsp;billion.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While we do not know yet what this consortium&#146;s plans are for our <B>&#091;division/region&#093;, </B>we
do know that this firm traditionally looks for undervalued assets that it can acquire and
help grow.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Given all of our hard work and commitment to serving our stores in this region ... I
believe that this announcement marks the beginning of a very exciting new chapter in our
company&#146;s history.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our region, like the other regions that will be acquired by the Cerberus-led consortium,
is in a unique position, in that we operate in some of the nation&#146;s most competitive
markets.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By becoming part of a private company that is skilled in strengthening undervalued
assets... we expect to get the resources we need to improve and grow to better meet the
needs of our customers. The outcome, we expect is that, we will be better positioned to
compete in these very difficult market conditions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While the agreement was announced this morning&#151;it is important to understand that it is
still subject to shareholder approval and it must also receive the customary regulatory
approvals. We expect the deal to close by mid- 2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>What that means is that we need to focus on running our business and our number one
priority &#151; which is supporting our stores so that we can take care of our customers. In
addition, we need to focus on achieving our fourth quarter targets, and making sure that we
continue to deliver results.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Today, our region&#146;s officers and directors will participate in a phone call with Larry
Johnston and Howard Cohen, the gentleman who will lead the new business. I expect Mr.&nbsp;Cohen
will have more to share about his plans for the future of our region, and we will share
details as we receive them.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Until then, I encourage you to keep your teams focused on running the business... take
their questions and explain that we may not have all of the answers right away.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The company has also established the following channels of communications to answer any
questions you may have during the transition, and will provide additional information as
it becomes available:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 1pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Company Portal</I></B>: Beginning next week, information regarding the
transaction will be posted on the company&#146;s Intranet as soon as it becomes
available. A link to the &#147;Get Connected&#148; site will be found on the home page under
the Company Links section. You will also be able to access the site by typing &#147;Get
Connected&#148; into your Internet browser. The Get Connected site will be updated
frequently with news, answers to frequently asked questions, and other information
to help you through the transition.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Now, I can open it up for a few questions.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>VI. </B><U><B>Employee Q&#038;A (Distribution Centers)</B></U>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>When will we know if the sale is definitely approved?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The transaction is subject to shareholder approval as well as the customary regulatory
approvals. The transaction is expected to close by mid- 2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Is there a chance that the deal won&#146;t go through? If so, what could stop it?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Our Board recommends that the shareholders approve the transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Will Cerberus keep the Albertsons/Super Saver banner names?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Cerberus has not detailed its plans for any changes in stores operations, including whether
or not it will change the names of our banners. We will share that information as soon as
it becomes available.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does the buyer plan to keep all of the associates in the stores and distribution centers?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Again, we have not yet received any information from Cerberus on the future of our
associates, but we promise to share that information with you as soon as it becomes
available.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does the buyer plan to keep all of the associates in the corporate/division/DC offices, or will
there be layoffs?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Again, we have not yet received any information from Cerberus on the future of our
associates, but we promise to share that information with you as soon as it becomes
available.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What is the timeline for the integration? When will changes be announced?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">There will be little if any visible change to the business while the deal is still subject
to shareholder approval. As I mentioned, the company expects the deal to close in mid-2006.
And as soon as we receive more information about a transition schedule, we will share that
with you.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How can we find out more about the buyer?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">As we mentioned, our management teams will be speaking with the leader for Cerberus, and we
will let you know more as we receive information.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Are there legal restrictions regarding what can and cannot be shared between ABS and the buyer
during the transition period before the deal is approved?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Yes, there are restrictions about what can and cannot be shared, and our legal department has
developed guidelines for us to abide by prior to shareholder and
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">regulatory approval of the transaction. If you have specific questions about what information
can and cannot be shared, please contact your supervisor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does this mean that there is no more Albertsons?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">As detailed in this morning&#146;s announcement, Albertsons entered into an agreement to sell the
company to a consortium of three buyers: Cerberus, which has purchased Albertsons&#146; DFW, Northern
California, Rocky Mountain, Florida, and Phoenix food store divisions; CVS, which has purchased the
stand-alone drug division, and Supervalu, which has purchased the Albertsons Southern California
and Northwest divisions, Acme, Shaw&#146;s, Jewel-Osco divisions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Albertsons will not exist as it does today, since assets are going to three different groups,
and its stock will no longer be listed on the NYSE. As for the brand name, it will be up to SVU to
determine whether to continue using the Albertsons brand.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>HR/Benefits Questions:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>ASRE, Pay to Stay, Stock options, Cobra plans, Severance details, vacation, education
reimbursement, job openings...</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The transaction is not expected to be complete until mid- 2006. Once the deal is approved,
Cerberus will be prepared to share with you all of the details of its benefits plans,
including health care, vacation, and employment opportunities.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF &#147;SAFE HARBOR&#148;
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995</I></B><BR>
<I>Except for the historical and factual information contained herein, the matters set forth in this
filing, including statements as to the expected benefits of the acquisition such as efficiencies,
cost savings, market profile and financial strength, and the competitive ability and position of
the combined company, and other statements identified by words such as &#147;estimates,&#148; &#147;expects,&#148;
&#147;projects,&#148; &#147;plans,&#148; and similar expressions are forward-looking statements within the meaning
of the &#147;safe harbor&#148; provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that may cause actual results to
differ materially, including required approvals by Albertson&#146;s and SUPERVALU shareholders and
regulatory agencies, the possibility that the anticipated benefits from the acquisition cannot be
fully realized or may take longer to realize than expected, the possibility that costs or
difficulties related to the integration of Albertson&#146;s operations into SUPERVALU will be greater
than expected, the impact of competition and other risk factors relating to our industry as
detailed from time to time in each of SUPERVALU&#146;s and Albertson&#146;s reports filed with the SEC. You
should not place undue reliance on these forward-looking statements, which speak only as of the
date of this press release. Unless legally required,</I>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Albertson&#146;s undertakes no obligation to update publicly any forward-looking statements, whether as
a result of new information, future events or otherwise.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>ADDITIONAL INFORMATION</I></B><BR>
<I>SUPERVALU and Albertsons will file a joint proxy statement/prospectus with the Securities and
Exchange Commission (SEC). INVESTORS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS WHEN IT
BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. You will be able to obtain the
joint proxy statement/prospectus, as well as other filings containing information about SUPERVALU
and Albertson&#146;s, free of charge, at the website maintained by the SEC at www.sec.gov. Copies of
the joint proxy statement/prospectus and the filings with the SEC that will be incorporated by
reference in the joint proxy statement/prospectus can also be obtained, free of charge, by
directing a request to SUPERVALU INC., 11840 Valley View Road, Eden Prairie, Minnesota, 55344,
Attention: Corporate Secretary, or to Albertson&#146;s, Inc., 250 East Parkcenter Boulevard, Boise,
Idaho, 83706-3940, Attention: Corporate Secretary. The respective directors and executive officers
of SUPERVALU and Albertson&#146;s and other persons may be deemed to be participants in the solicitation
of proxies in respect of the proposed transaction. Information regarding SUPERVALU&#146;s directors and
executive officers is available in its proxy statement filed with the SEC by SUPERVALU on May&nbsp;12,
2005, and information regarding Albertson&#146;s directors and executive officers is available in its
proxy statement filed with the SEC by Albertson&#146;s on May&nbsp;6, 2005. Other information regarding the
participants in the proxy solicitation and a description of their direct and indirect interests, by
security holdings or otherwise, will be contained the joint proxy statement/prospectus and other
relevant materials to be filed with the SEC when they become available.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Investors should read the joint proxy statement/prospectus carefully when it becomes available
before making any voting or investment decisions.
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<FILENAME>l18100aexv99w4.htm
<DESCRIPTION>EX-99.4 COMMUNICATIONS PACKAGE
<TEXT>
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<TITLE>EX-99.4 Communications Package</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.4</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>I. </B><U><B>Employee Broadcast Script</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Audience: </B>DIVISION TEAMS &#038; STORE DIRECTORS: Stand Alone Drug Stores
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Kevin Tripp on Camera:</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Hello, and thank you for joining me today. As you have all heard by now, Albertsons announced this
morning that the company has entered into a definitive agreement to sell all of the stand alone
drug stores to CVS Pharmacy, as well as the La Habra distribution center. The in-store pharmacies
branded Sav-on and Osco will be sold to buyer of the food stores in their respective divisions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I understand that this is a lot of information to absorb, and while change can be exciting, I
recognize that it can also be unsettling. But I firmly believe the changes that we are making
today will mark the beginning of a very exciting new chapter in our company&#146;s history.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our team works hard every day to ensure we&#146;re an industry leader in the areas of market value,
scale, profitability, customer service, pharmacy excellence, and associate satisfaction. You are
committed to our vision, to our mission, and to our core values ... and because of that I am proud
to be your leader! In each of our markets today, we face different challenges as we strive to
reach our vision. We must continue to look at our customers&#146; needs and make the changes needed to
survive in this fiercely competitive retail environment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">By joining the CVS Pharmacy team, our division will become a part of a national pharmacy retail
powerhouse ... which following completion of the transaction, will operate approximately 6,200
stores across 42 states and the District of Columbia.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">By acquiring our stand alone drug stores, CVS Pharmacy will be able to expand its business into
Southern California and increase its presence in the Southwestern and Midwestern states.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Joining the CVS Pharmacy team opens up for our division the tremendous opportunity to become a part
of a very successful company that shares many of the same core values and strategic imperatives
that have helped us to be successful in the markets we serve.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Like our team, CVS Pharmacy places a strong emphasis on putting the patient first and embracing
innovation to make its pharmacies best in class.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I would also like to point out that our two companies have similar cultures and values ... CVS
Pharmacy&#146;s core values include: respect for individuals; integrity, teamwork, openness to new
ideas, and commitment to flawless execution, and passion for extraordinary customer service
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">And more important, CVS Pharmacy shares our commitment to the communities in which it operates, and
will continue our traditions in corporate philanthropy.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">While the agreement was announced this morning&#151;it is important to understand that it is still
subject to shareholder approval, and it must also receive the customary regulatory approvals. The
deal is expected to in mid-2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">What that means is that we need to focus on running our business and our number one priority &#151;
which is taking care of our customers. We need to make sure that our patients understand that they
will still receive the very best care when they visit our pharmacies, and that they will be able to
count on us for all of their prescriptions and health care needs. In addition, we need to focus on
achieving our fourth quarter targets, and making sure that we continue to deliver results.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I expect in coming weeks that we will meet members of the CVS Pharmacy team and that we will soon
be getting more information around this proposed acquisition and how it could affect our business
processes once the deal has been approved by shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Considering the size and scope of this transaction, the transition time will last a period of many
months. During this process, we will keep you informed of decisions that are made as soon as
possible. We have established several channels of communications to answer any questions you
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">may have, and will provide additional information when it becomes available. Cluster meetings will
be held in the near future to discuss the company changes, answer questions, and talk about any
additional details, announcements, or developments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The transformation we are going through is one that is critical to positioning ourselves to be
successful in a retail environment that just gets more and more competitive every year. As you have
already proven time and again, you are a committed and flexible team that is able to embrace and
adapt to change while continuing to drive the business forward. Please remain focused on serving
our customers, and we will do our best to keep you informed over the coming weeks and months.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I thank you again for your attention today. Your involvement and support are critical ...now and
going forward. As we continue to make changes in the months ahead, I urge you to make everything
you can of this opportunity. Thank you.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>II. </B><U><B>Customer Q&#038;A</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>FOR USE BY ASSOCIATES: </B>Drug division.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Customer Q&#038;A</B></U><B>:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>I heard that this store has been sold to a new company?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Yes, our parent company, Albertsons, has recently announced that it has entered into an
agreement to sell our stand-alone Drug Store division to CVS Corporation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will they change the name of the store?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>It is our understanding that all stand-alone drugstores included in the transaction will be
re-bannered as CVS.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will the store stay open?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The deal is still subject to approval, and it is not expected to close until mid-2006. It
is our understanding that our store will remain open.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>4.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will there be any changes in your stores?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>CVS is an outstanding company, and we expect that the change in ownership will be seamless
to our customers.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>5.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will CVS lay people off?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>CVS hasn&#146;t announced specific plans yet. The deal is still subject to approval, and it
won&#146;t close until later this year.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>6.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Will they still carry the same products?</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>CVS shares our same commitment to offering products that best meet the needs of the
communities we serve. We are confident that under our new parent company, we will continue
to provide the customer service, prescription and health care needs, and the selection that
you are used to.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>III. </B><U><B>Employee Communications</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>FOR USE BY DIVISION TEAMS &#038; STORE DIRECTORS: Stand Alone Drug Stores &#038; La Habra Distribution Centers</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Talking Points</B></U><B>:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As you have all heard by now, Albertsons announced this morning that the company has
entered into a definitive agreement to sell all of its stand alone drug stores and our La
Habra Distribution Center to CVS Pharmacy. The in-store pharmacies branded Sav-on and Osco
will be sold to the buyer of the food stores in the regions in which they are located.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I would like to point out that the agreement announced today is still subject to
shareholder approval, as well as the customary regulatory approvals.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While this is very exciting news, I recognize that change can also be unsettling. That&#146;s
why I would like to take a few minutes this morning to assure you that this announcement
marks the beginning of a very exciting new chapter in our company&#146;s history.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By joining the CVS Pharmacy team, our division will become a part of a national pharmacy
retail powerhouse ... part of the nation&#146;s largest retail pharmacy, which currently
operates more than 5,400 retail and specialty pharmacy stores in 37 states and the District
of Columbia.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By acquiring our stand alone drug stores, CVS Pharmacy will be able to expand its
business into Southern California and increase its presence in the Southwestern and
Midwestern states.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Joining the CVS Pharmacy team opens up for our division the tremendous opportunity to
become a part of a very successful company that shares many of the same core values and
strategic imperatives that have helped us to be successful in the markets we serve.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Like our team, CVS Pharmacy places a strong emphasis on putting the patient first and
embracing innovation to make its pharmacies the best in class.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I would also like to point out that our two companies have
similar cultures and values &nbsp;... CVS Pharmacy&#146;s core values
include &#151; Respect for individuals; integrity, teamwork,
openness to new ideas, and commitment to flawless execution and passion for extraordinary
customer service</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>And more important, CVS Pharmacy shares our commitment to the communities in which it
operates, and will continue our traditions in corporate philanthropy.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While the agreement was announced this morning&#151;it is important to understand that it is
still subject to shareholder approval and it must also receive the customary regulatory
approvals. The deal is expected to close by mid-2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>What that means is that we need to focus on running our business and our number one
priority &#151; which is taking care of our customers. We need to make sure that our patients
understand that they will still receive the very best care when they visit our pharmacies,
and that they will be able to count on us for all of their prescriptions and health care
needs. In addition, we need to focus on achieving our fourth quarter targets, and making
sure that we continue to deliver results.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I expect in coming weeks that we will meet members of the CVS Pharmacy team and that we
will soon be getting more information around this proposed acquisition and how it could
affect our business processes once the deal has been approved by shareholders.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Until then, I encourage you to keep your teams focused on running the business ... take
their questions and explain that we may not have all of the answers right away.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The company has also established the following channels of communications to answer any
questions you may have, and will provide additional information when it becomes available:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Company Portal </I></B>&#151; Beginning this week, information regarding the
transaction will be posted on the company&#146;s Intranet as soon as it becomes
available. A link to the &#147;Get Connected&#148; site will be found on the home page under
the Company Links section. You will also be able to access the site by typing &#147;Get
Connected&#148; into your Internet browser. The Get Connected site will be updated
frequently with news, answers to frequently asked questions, and other information
to help you through the transition.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Now, I can open it up for a few questions.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>IV. </B><U><B>Employee Q&#038;A </B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>When will we know if the deal is definitely approved?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The transaction is subject to approval by shareholders as well as the customary regulatory
approvals. We expect the transaction to close by mid-2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Is there a chance that the deal won&#146;t go through? If so, what could stop it?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Our Board recommends that the shareholders approve the transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Will CVS keep the Savon/Osco name?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">CVS Pharmacy will be re-branding all of our stand-alone pharmacies with the CVS Pharmacy
banner.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does the buyer plan to keep all of the associates in the stores?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">CVS Pharmacy has expressed interest in our talented associates, with CEO Tom Ryan saying
today in the CVS Pharmacy press release that the company is gaining talented associates with
a track record of operating successful drug stores. CVS Pharmacy will share those plans in
months to come.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Will stores be forced to close due anti-trust concerns?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The transaction will be subject to anti-trust review and we will share more information on
that as it becomes available.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Does the buyer plan to keep all of the associates in the corporate/division offices, or will there
be layoffs?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">We know that CVS Pharmacy recognizes that we have a very talented group of associates in our
corporate and division offices. The have not announced specific plans yet.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What is the timeline for the integration? When will changes be announced?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">It
is our understanding that upon successful completion of the transaction &#151; which is
expected to occur by mid-2006 &#151; CVS Pharmacy will be intensely focused on bringing the best
forward &#151; including people, systems and processes &#151; from both companies. CVS Pharmacy
will communicate that timeline as soon as it becomes available.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Are the two corporate cultures similar or different?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The merger of these two companies represents a winning combination of two very powerful
forces in pharmacy retail. As I mentioned earlier, we share similar core values,
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">and both companies believe their associates are one of their most important assets. We
anticipate that the two cultures will be a natural fit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How can we find out more about the buyer?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">In the coming months we will be working with CVS Pharmacy to bring you more information
about the company so that you can better understand your new parent company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Are there legal restrictions regarding what can and cannot be shared between ABS and the buyer
during the transition period before the deal is approved?</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Yes, there are restrictions about what can and cannot be shared, and our legal department has
developed guidelines for us to abide by prior to shareholder and regulatory approval of the
transaction. If you have specific questions about what information can and cannot be shared,
please contact your supervisor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does this mean that there is no more Albertsons?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">As detailed in this morning&#146;s announcement, Albertsons entered into an agreement to sell the
company to a consortium of three buyers: Cerberus, which has purchased Albertsons&#146; DFW,
Northern California, Rocky Mountain, Florida, and Phoenix food store divisions; CVS, which
has purchased the stand-alone drug division, and Supervalu, which has purchased the
Albertsons Southern California and Northwest divisions, Acme, Shaw&#146;s, Jewel-Osco divisions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Albertsons will not exist as it does today, since assets are going to three different
groups, and its stock will no longer be listed on the NYSE. As to the brand name, it will
be up to SVU to determine whether to continue using the Albertsons brand.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>HR/Benefits Questions:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>ASRE, Pay to Stay, Stock options, Cobra plans, Severance details, vacation, education
reimbursement, job openings...</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The transaction is not expected to be complete until mid-2006. Once the deal is approved,
CVS Pharmacy will be prepared to share with you all of the details of its benefits plans,
including health care, vacation, and employment opportunities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Like Albertsons, CVS Pharmacy prides itself on being a company that recognizes that its
strengths lie with its people, so we should take comfort in the fact that CVS Pharmacy is a
company that historically has taken care of its associates and recognizes that its
associates as a tremendous asset.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF &#147;SAFE HARBOR&#148;
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995</I></B><BR>
<I>Except for the historical and factual information contained herein, the matters set forth in this
filing, including statements as to the expected benefits of the acquisition such as efficiencies,
cost savings, market profile and financial strength, and the competitive ability and position of
the combined company, and other statements identified by words such as &#147;estimates,&#148; &#147;expects,&#148;
&#147;projects,&#148; &#147;plans,&#148; and similar expressions are forward-looking statements within the meaning
of the &#147;safe harbor&#148; provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that may cause actual results to
differ materially, including required approvals by Albertson&#146;s and SUPERVALU shareholders and
regulatory agencies, the possibility that the anticipated benefits from the acquisition cannot be
fully realized or may take longer to realize than expected, the possibility that costs or
difficulties related to the integration of Albertson&#146;s operations into SUPERVALU will be greater
than expected, the impact of competition and other risk factors relating to our industry as
detailed from time to time in each of SUPERVALU&#146;s and Albertson&#146;s reports filed with the SEC. You
should not place undue reliance on these forward-looking statements, which speak only as of the
date of this press release. Unless legally required, Albertson&#146;s undertakes no obligation to update
publicly any forward-looking statements, whether as a result of new information, future events or
otherwise.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>ADDITIONAL INFORMATION</I></B><BR>
<I>SUPERVALU and Albertsons will file a joint proxy statement/prospectus with the Securities and
Exchange Commission (SEC). INVESTORS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS WHEN IT
BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. You will be able to obtain the
joint proxy statement/prospectus, as well as other filings containing information about SUPERVALU
and Albertson&#146;s, free of charge, at the website maintained by the SEC at www.sec.gov. Copies of
the joint proxy statement/prospectus and the filings with the SEC that will be incorporated by
reference in the joint proxy statement/prospectus can also be obtained, free of charge, by
directing a request to SUPERVALU INC., 11840 Valley View Road, Eden Prairie, Minnesota, 55344,
Attention: Corporate Secretary, or to Albertson&#146;s, Inc., 250 East Parkcenter Boulevard, Boise,
Idaho, 83706-3940, Attention: Corporate Secretary. The respective directors and executive officers
of SUPERVALU and Albertson&#146;s and other persons may be deemed to be participants in the solicitation
of proxies in respect of the proposed transaction. Information regarding SUPERVALU&#146;s directors and
executive officers is available in its proxy statement filed with the SEC by SUPERVALU on May&nbsp;12,
2005, and information regarding Albertson&#146;s directors and executive officers is available in its
proxy statement filed with the SEC by Albertson&#146;s on May&nbsp;6, 2005. Other information regarding the
participants in the proxy solicitation and a description of their direct and indirect interests, by
security holdings or otherwise, will be contained the joint proxy statement/prospectus and other
relevant materials to be filed with the SEC when they become available.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Investors should read the joint proxy statement/prospectus carefully when it becomes available
before making any voting or investment decisions.
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<FILENAME>l18100aexv99w5.htm
<DESCRIPTION>EX-99.5 COMMUNICATIONS FOR BOISE OPERATIONS
<TEXT>
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<TITLE>EX-99.5 Communications For Boise Operations</TITLE>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.5</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>I. </B><U><B>Employee Communications</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>FOR USE BY BOISE OFFICERS &#038; DIRECTORS: </B>Boise associates
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Talking Points</B></U><B>:</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As you have all heard by now, Albertsons announced this morning that the company has
entered into a definitive agreement to sell the entire company to SUPERVALU, CVS Pharmacy,
and an investment group led by Cerberus Capital Management.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Under the terms of the agreement, SUPERVALU will acquire our corporate store support
operations, along with the stores and the support operations for Shaw&#146;s, Jewel, Acme,
Bristol Farms, and Albertsons in the Northwest, Intermountain, and Southern California
regions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While change is very exciting, I recognize that it can also be unsettling. That&#146;s why I
would like to take a few minutes this morning to assure you that this announcement marks
the beginning of a very exciting new chapter in our company&#146;s history.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By joining the Supervalu team&#151; we will become a part of national retail and pharmacy
powerhouse... part of the nation&#146;s largest <U>grocery</U> network of 2,600-plus food
stores in 48 states.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>By combining the experience of the Albertsons, Shaw&#146;s, Jewel-Osco, Acme, and Bristol
Farms teams with Supervalu, a new larger and stronger company will be formed to more
effectively compete and win in today&#146;s changing marketplace.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Joining the Supervalu team opens up for our store support teams the tremendous
opportunity to become a part of a progressive company that shares many of the same core
values and strategic imperatives that have helped us to be successful in the markets we
serve.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Supervalu prides itself on operating a diversified portfolio of regional banners that
are locally managed and branded- with strong market shares. Adding our strong brand to
this team will allow us to leverage Supervalu&#146;s extensive expertise in supply chain and the
price impact format, while continuing to serve our communities and giving our customers
what they are looking for.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Like our team, Supervalu places a strong focus on local merchandising... enabling them
to serve a wide demographic of consumers across the economic spectrum, from cost-conscious
to upscale.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I would also like to point out that our two companies have similar cultures and
values... Supervalu&#146;s core values include focus, integrity, passion, standards and urgency.
And more importantly, Supervalu shares the same commitment to the communities in which it
operates, and will continue our traditions in corporate philanthropy.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>While the agreement was announced this morning &#151; it is important to understand that it is
still subject to shareholder approval, and it must also receive the customary regulatory
approvals. We expect the deal to close by mid-2006.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>What that means is that we need to focus on running our business and our number one
priority &#151; which is taking care of our customers out in the divisions. In addition, we
need to focus on achieving our fourth quarter targets, and making sure that we continue to
deliver results.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I expect in coming weeks that we will meet members of the Supervalu team and that we
will soon be getting more information around this proposed acquisition and how it could
affect our business processes once the deal has been approved by shareholders.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Until then, I encourage you to keep your teams focused on running the business... take
their questions and explain that we may not have all of the answers right away.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The company has also established the following channels of communications to answer any
questions you may have, and will provide additional information when it becomes available:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#150;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Company Portal</I></B>: Beginning this week, information regarding the
transaction will be posted on the company&#146;s Intranet as soon as it becomes
available. A link to the &#147;Get Connected&#148; site will be found on the home page under
the Company Links section. You will also be able to access the site by typing &#147;Get
Connected&#148; into your Internet browser. The Get Connected site will be updated
frequently with news, answers to frequently asked questions, and other information
to help you through the transition.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Now, I can open it up for a few questions.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>II. </B><U><B>Employee Q&#038;A </B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>When will we know if the sale is definitely approved?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The transaction is subject to approval by the shareholders, as well as the customary
regulatory approvals. We expect the transaction to close by mid-2006.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Is there a chance that the deal won&#146;t go through? If so, what could stop it?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Our Board recommends that the shareholders approve the transaction.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Will Supervalu keep the Albertsons/Shaw&#146;s/Acme/Jewel/Bristol Farms banner name?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Supervalu has not detailed its plans for any changes in stores operations, including whether
or not it will change the names of our banners. However, the company has said that these
are the assets they want... great brands, great locations, and great people. The company
has acknowledged that our local brands are well-recognized and have a lot of equity with the
consumers we serve.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does the buyer plan to keep all of the associates in the stores?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">It is our understanding that Supervalu continues to grow the business we have established
and build on the successes that we have achieved in our local markets. Supervalu has said
that by engaging in this deal it is gaining exceptional managerial talent and a
highly-skilled employee base.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Will stores be forced to close due anti-trust concerns?</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The agreement is subject to anti-trust review and we will share more information as we
receive it.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does the buyer plan to keep all of the associates in the corporate/division offices, or will there
be layoffs?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">It is our understanding that Supervalu continues to grow the business we have established
and build on the successes that we have achieved in the local markets. Supervalu has said
that by engaging in this deal it is gaining exceptional managerial talent and a
highly-skilled employee base.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>What is the timeline for the integration? When will changes be announced?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">It is our understanding that upon successful completion of the transaction &#151; which is
expected to occur in mid- 2006 &#151; Supervalu will be intensely focused on bringing the best
forward &#151; including people, systems and processes &#151; from both companies. They expect that
this planned and paced transition will take up to three years.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Are the two corporate cultures similar or different?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The approximately 200,000 combined employees share a lot in common: deep roots in local
communities, proven expertise in the grocery industry and a strong commitment to customer
service. The merger of these two companies represents a winning combination of two very
powerful forces in food retail.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>How can we find out more about the buyer?</I></B>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">On Tuesday, SUPERVALU&#146;s Chairman and CEO Jeff Noddle will speak to all of you in a broadcast
to all associates in our corporate store support centers as well as in the divisions that
SUPERVALU has purchased. You may also find out more about SUPERVALU by calling the
company&#146;s Newsline recording. The telephone number will be provided shortly.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Similar to our strategic imperatives, Supervalu has seven key principles that it has shared
with us to help us understand what the company stands for.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">1. SUPERVALU is a dynamic company, on the leading edge of innovation and poised for
strategic growth.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">2. SUPERVALU has deep roots in the grocery industry, with more than 135&nbsp;years of retailing and
supply chain knowledge and expertise.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">3. SUPERVALU five core values of focus, integrity, passion, standards and urgency underline
everything we do.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">4. SUPERVALU is committed to the communities in which we operate.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">5. SUPERVALU&#146;s retail network, which consists of more than 1,500 stores, is strongly
connected to the local marketplace, allowing our stores to meet the needs of a diverse
customer base.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">6. SUPERVALU&#146;s supply chain footprint offers a broad suite of logistics solutions and
operational efficiency programs, which help our independent retail customers serve their
consumers as effectively as possible.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">7. SUPERVALU&#146;s employees are our strength. We invest in their careers, support their
development, and encourage them to enrich their professional life through volunteerism and
community engagement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Are there legal restrictions regarding what can and cannot be shared between ABS and the buyer
during the transition period before the deal is approved?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Yes, there are restrictions about what can and cannot be shared, and our legal department has
developed guidelines for us to abide by prior to shareholder and regulatory approval of the
transaction. If you have specific questions about what information can and cannot be shared,
please contact your supervisor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Does this mean that there is no more Albertsons?</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">As detailed in this morning&#146;s announcement, Albertsons Board of Directors has entered into
an agreement to sell the company to a consortium of three buyers: Cerberus, which has
purchased Albertsons&#146; DFW, Northern California, Rocky Mountain, Florida, and Phoenix food
store divisions; CVS, which has purchased the stand-alone drug division,
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">and Supervalu, which has purchased the Albertsons Southern California and Northwest
divisions, Acme, Shaw&#146;s, Jewel-Osco divisions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Albertsons will not exist as it does today, since assets are going to three different
groups, and its stock will no longer be listed on the NYSE. As for the brand name, it will
be up to SVU to determine whether to continue using the Albertsons brand.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>HR/Benefits Questions:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>ASRE, Pay to Stay, Stock options, Cobra plans, Severance details, vacation, education
reimbursement, job openings...</I></B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The transaction is not expected to be complete until mid- 2006. Once the deal is approved,
Supervalu will be prepared to share with you all of the details of its benefits plans, including
health care, vacation, and employment opportunities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Like Albertsons, Supervalu prides itself on being a company that recognizes that its
strengths lie with its people, so we should take comfort in the fact that Supervalu is a
company that historically has taken care of its associates and recognizes that its
associates as a tremendous asset.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF &#147;SAFE HARBOR&#148;
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995</I></B><BR>
<I>Except for the historical and factual information contained herein, the matters set forth in this
filing, including statements as to the expected benefits of the acquisition such as efficiencies,
cost savings, market profile and financial strength, and the competitive ability and position of
the combined company, and other statements identified by words such as &#147;estimates,&#148; &#147;expects,&#148;
&#147;projects,&#148; &#147;plans,&#148; and similar expressions are forward-looking statements within the meaning
of the &#147;safe harbor&#148; provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that may cause actual results to
differ materially, including required approvals by Albertson&#146;s and SUPERVALU shareholders and
regulatory agencies, the possibility that the anticipated benefits from the acquisition cannot be
fully realized or may take longer to realize than expected, the possibility that costs or
difficulties related to the integration of Albertson&#146;s operations into SUPERVALU will be greater
than expected, the impact of competition and other risk factors relating to our industry as
detailed from time to time in each of SUPERVALU&#146;s and Albertson&#146;s reports filed with the SEC. You
should not place undue reliance on these forward-looking statements, which speak only as of the
date of this press release. Unless legally required, Albertson&#146;s undertakes no obligation to update
publicly any forward-looking statements, whether as a result of new information, future events or
otherwise.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>ADDITIONAL INFORMATION</I></B><BR>
<I>SUPERVALU and Albertsons will file a joint proxy statement/prospectus with the Securities and
Exchange Commission (SEC). INVESTORS ARE URGED TO READ THE JOINT PROXY</I>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. You
will be able to obtain the joint proxy statement/prospectus, as well as other filings containing
information about SUPERVALU and Albertson&#146;s, free of charge, at the website maintained by the SEC
at www.sec.gov. Copies of the joint proxy statement/prospectus and the filings with the SEC that
will be incorporated by reference in the joint proxy statement/prospectus can also be obtained,
free of charge, by directing a request to SUPERVALU INC., 11840 Valley View Road, Eden Prairie,
Minnesota, 55344, Attention: Corporate Secretary, or to Albertson&#146;s, Inc., 250 East Parkcenter
Boulevard, Boise, Idaho, 83706-3940, Attention: Corporate Secretary. The respective directors and
executive officers of SUPERVALU and Albertson&#146;s and other persons may be deemed to be participants
in the solicitation of proxies in respect of the proposed transaction. Information regarding
SUPERVALU&#146;s directors and executive officers is available in its proxy statement filed with the SEC
by SUPERVALU on May&nbsp;12, 2005, and information regarding Albertson&#146;s directors and executive
officers is available in its proxy statement filed with the SEC by Albertson&#146;s on May&nbsp;6, 2005.
Other information regarding the participants in the proxy solicitation and a description of their
direct and indirect interests, by security holdings or otherwise, will be contained the joint proxy
statement/prospectus and other relevant materials to be filed with the SEC when they become
available.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Investors should read the joint proxy statement/prospectus carefully when it becomes available
before making any voting or investment decisions.
</DIV>



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