<p>Supervalu is announcing that two of its directors, Mark Neporent and Lenard Tessler, have stepped down from the Board of Directors, effective immediately. The resignations followed today's announcement of the definitive agreement under which AB Acquisistion LLC, controlled by Cerberus Capital Management, will acquire Safeway Inc.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Neporent and Tessler were both appointed to the Board of Directors in 2013 as designees of Symphony Investors LLC, a Cerberus Capital Management led investor consortium.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">"In light of the transaction announced today, we felt it was in the best interests of Supervalu for us to resign our seats on the Supervalu Board. The directors who will be designated to replace Lenard and me under the Tender Offer Agreement are expected to be independent of both Cerberus and Supervalu and will add to Supervalu’s outstanding board," said Mr. Neporent.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">"I would like to thank Mark and Lenard for serving on Supervalu's Board of Directors and for their important contributions during the transition period following the banner sale. We look forward to working with Cerberus to identify two new, highly-qualified director designees to replace Mark and Lenard, and who will help to lead our organization into the future," said SUPERVALU’s Non-Executive Chairman Gerald Storch.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">"I also would like to thank Mark and Lenard for their service. As the process moves forward to designate new Directors, we are continuing our focus on driving sales and serving all of our customers, including providing services under the Transition Services Agreements with Albertsons LLC and New Albertsons, Inc," said Sam Duncan, Chief Executive Officer of Supervalu.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.cerberuscapital.com/" target="_new"> Supervalu </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
