The Great Atlantic & Pacific Tea Company, Inc. Announces Return of Common Shares

The Great Atlantic & Pacific Tea Company, Inc. (A&P, NYSE Symbol:GAP) today announced that under the terms of the Share Lending Agreement dated December 12, 2007, as subsequently amended as of December 18, 2007, Bank of America, N.A. terminated a portion of its Loan and has returned 2,500,000 of the 4,927,944 common shares that were previously borrowed under that agreement. Including the returned shares, the maximum number of shares that may be borrowed has been reduced by 4,339,449 to the 2,427,944 shares which are currently on loan to Bank of America, N.A. A&P has retired the returned shares, thereby reducing the issued and outstanding share count to 55,859,351. The return of the shares has no impact on the basic or diluted share counts, as these shares were excluded for purposes of calculating per share income or loss amounts.

About A&P

Founded in 1859, A&P is one of the nation's first supermarket chains. The Company operates 433 stores in 8 states and the District of Columbia under the following trade names: A&P, Waldbaum's, Pathmark, Pathmark Sav-a-Center, Best Cellars, The Food Emporium, Super Foodmart, Super Fresh and Food Basics.