In 2001, Albertson's spent approximately $60 million on newgrocery stores and renovations. Next year it plans to invest $185million. The company will capitalize on its already strong storebase with the renovation of approximately 23 stores. Severaladditional new stores and fuel centers are also planned for2002.

"Albertson's will build shareowner value by investing in therenovation of existing assets and strengthening our market share innorthern California," says Larry Johnston, Albertson's chiefexecutive officer and chairman of the board. "Northern Californiais a strategic market in the context of Albertson's future. We arecommitted to this division, and look forward to continuing to meetthe needs of the area."

As evidence of this significant Northern California capitalcommitment in the last several months, Albertson's grand openedthree new stores, in San Jose, El Cerrito and Hayward, andcompleted two store renovations.