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Institutional Shareholder Services To Hold Investor Forum on Shareholder Vote at Safeway

Rockville, Maryland; April 22, 2004: Institutional Shareholder Services (ISS), the world's leading provider of proxy voting and corporate governance services, today announced that it will hold an Investor Forum to discuss the corporate governance practices under fire at Safeway Corporation. The purpose of the Investor Forum is to allow major shareholders and the company itself to present their respective views to the broader investment community prior to the May 20 shareholder meeting.

Bill Atwood, Executive Director of the Illinois State Board of Investment and Meredith Miller, Assistant Treasurer of the State of Connecticut will discuss investor concerns over governance and performance issues at Safeway, while
Mike Garland, Corporate Transactions Director, will discuss the AFL-CIO's
"vote no" campaign targeted at Safeway CEO Steven Burd and directors Robert
MacDonnell and William Tauscher, who are up for re-election on May 20. Safeway executives declined ISS's invitation to participate in the Forum.

The ISS Investor Forum will be held via webcast on Friday, April 30 at 2:00pm eastern. To register, go to investorforum website. ISS Investor Forums are open to all interested parties.

For further information please contact:
Cheryl Gustitus