SUPERVALU INC. (NYSE: SVU) announced today that, as of 8:00 a.m., New York City time, on May 29, 2009 (the “Expiration Time”), notes with an aggregate principal amount of $519,417,000 have been tendered and not validly withdrawn in connection with its previously announced cash tender offer (the “Offer”) to purchase up to a total aggregate principal amount of $975 million of (i) its outstanding 7.875% Notes due August 1, 2009 (the “SUPERVALU 2009 Notes”), (ii) the outstanding 6.95% Notes due August 1, 2009 (the “Albertson’s 2009 Notes”), issued by SUPERVALU’s wholly owned subsidiary, New Albertson’s, Inc. (“New Albertson’s”) and (iii) the outstanding 8.35% Notes due May 1, 2010 (the “Albertson’s 2010 Notes” and, together with the SUPERVALU 2009 Notes and the Albertson’s 2009 Notes, the “Notes”) issued by New Albertson’s.

SUPERVALU has accepted for purchase all Notes validly tendered after 12:01 a.m., New York City time, on May 14, 2009 (the “Early Tender Time”) and at or prior to the Expiration Time. Holders of these Notes received (i) $980.00 per $1,000 principal amount of SUPERVALU 2009 Notes tendered, (ii) $978.75 per $1,000 principal amount of Albertson’s 2009 Notes tendered, and (iii) $995.00 per $1,000 principal amount of Albertson’s 2010 Notes tendered. Settlement for Notes validly tendered to the Offer after the Early Tender Time and at or prior to the Expiration Time was effected on Friday, May 29, 2009.

SUPERVALU previously accepted for purchase all Notes validly tendered and not validly withdrawn by the Early Tender Time. Settlement for Notes validly tendered to the Offer at or prior to the Early Tender Time and not validly withdrawn was effected on Thursday, May 14, 2009.

In addition to the consideration described above, holders of Notes validly tendered and accepted for purchase received accrued and unpaid interest on the Notes from the last interest payment date for the notes to, but not including, the applicable settlement date for the Notes.

Credit Suisse Securities (USA) LLC, Banc of America Securities LLC, Citigroup Global Markets Inc. and RBS Securities Inc. acted as the Dealer Managers for the Offer. Innisfree M&A Incorporated acted as the information agent for the Offer and U.S. Bank Trust National Association acted as tender agent for the Offer.

About SUPERVALU INC.

SUPERVALU INC. is one of the largest companies in the U.S. grocery channel with estimated annual sales of $43 billion. SUPERVALU holds leading market share positions across the United States with its approximately 2,500 retail grocery locations, including nearly 900 in-store pharmacies. Through the company’s nationwide supply chain network, SUPERVALU provides distribution and related logistics support services to more than 2,500 independent retailers across the country. SUPERVALU has approximately 180,000 employees.

CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING STATEMENTS

Except for the historical and factual information contained herein, the matters set forth in this news release, particularly those pertaining to SUPERVALU's expectations or future operating results, statements as to the progress and expected benefits of the combination of the operations of Albertson's, Inc. that were acquired in June 2006 with those of SUPERVALU, such as efficiencies, cost savings, synergies, market profile and financial strength, and the competitive ability and position of the combined company, and other statements identified by words such as "estimates," "expects," "projects," "plans," and similar expressions are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the impact of economic and industry conditions, competition, security and food and drug safety issues, the integration of Albertsons operations, store expansion and remodeling, liquidity, labor relations issues, escalating costs of providing employee benefits, regulatory matters, self insurance, legal and administrative proceedings, information technology, security, severe weather, natural disasters and adverse climate changes, continued provision of transition support services, the continuing review of goodwill and other intangible assets and accounting matters and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU'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 news release. Unless legally required, SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

SUPERVALU INC.
Investors and Financial Media:
David Oliver, 952-828-4540
david.m.oliver@supervalu.com
or
Steve Bloomquist, 952-828-4144
steve.j.bloomquist@supervalu.com