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Safeway PLC (SFW)

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Wednesday 19 March, 2003

Safeway PLC

Offer Update

Safeway PLC
19 March 2003

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES,
AUSTRALIA, CANADA OR JAPAN


                             For immediate release


                                 19 March 2003

                            Safeway plc ('Safeway')

    Offer update - announcement by Secretary of State for Trade and Industry

The Board of Safeway notes today's announcement by the Secretary of State for
Trade and Industry of her decisions:


  • to refer the offer by Morrisons and possible offers by Wal-Mart,
    Sainsbury's and Tesco for Safeway to the Competition Commission; and

  • not to refer the possible offer for Safeway by Trackdean Investments (a
    company controlled by Philip Green's family) to the Competition Commission.

Safeway will cooperate fully with the Competition Commission's investigation.


The Board of Safeway remains fully committed to achieving an outcome which is in
the best interests of shareholders, the business and our employees.

The Board of Safeway will make further announcements as and when appropriate.

Enquiries
Safeway                                             Tel: +44 (0)20 8848 8744
David Webster
Simon Laffin
Steve Webb
Kevin Hawkins

HSBC
Rupert Faure Walker                                 Tel: +44 (0)20 7992 2101
Aidan Wallis                                        Tel: +44 (0)20 7992 2453

Schroder Salomon Smith Barney                       Tel: +44 (0)20 7986 4000
Robert Swannell
David Wormsley
Ian Hart

Brunswick Group Limited                             Tel: +44 (0)20 7404 5959
Susan Gilchrist
James Bradley
Timothy Grey


HSBC Bank plc, which is regulated in the United Kingdom for the conduct of
investment business by The Financial Services Authority, is acting for Safeway
and no one else in connection with the matters described in this announcement
and will not be responsible to anyone other than Safeway for providing the
protections afforded to customers of HSBC Bank plc nor for providing advice in
relation to the matters described in this announcement.


Schroder Salomon Smith Barney is acting for Safeway and no one else in
connection with the matters described in this announcement and will not be
responsible to anyone other than Safeway for providing the protections afforded
to clients of Schroder Salomon Smith Barney or for providing advice in relation
to the matters described in this announcement.


This announcement does not constitute an offer to sell or invitation to purchase
any securities or the solicitation of any vote or approval in any jurisdiction.

The release, publication or distribution of this announcement in certain
jurisdictions may be restricted by law and therefore persons in such
jurisdictions into which this announcement is released, published or distributed
should inform themselves about and observe such restrictions.


                      This information is provided by RNS
            The company news service from the London Stock Exchange