SOURCE: Safeway Inc.

Safeway Inc.

May 20, 2011 09:00 ET

Safeway Inc. Announces Preliminary Results of 2011 Stockholder Vote

PLEASANTON, CA--(Marketwire - May 20, 2011) - Safeway Inc. (NYSE: SWY) announced the preliminary results of its stockholder vote at the company's 2011 Annual Meeting of Stockholders held yesterday.

Stockholders elected each of the ten directors by a vote percentage of at least 93% and approved the appointment of Deloitte & Touche LLP to serve as the company's independent auditors for the 2011 fiscal year.

Stockholders also voted on five proposals presented at the meeting: four board proposals and one stockholder proposal. All proposals were voted with the Board of Directors' recommendations.

The following are the approximate vote percentages:

"Say on Pay" Advisory Vote on Executive Compensation53%FOR
Frequency of Future "Say on Pay" Advisory Votes
--1 year - 89%
--2 years - 0%
--3 years - 11%
Approval of the 2011 Equity and Incentive Award Plan85%FOR
Re-approval of the 2001 Operating Performance Bonus Plan96%FOR
Cumulative Voting72%AGAINST

All figures are expressed in terms of percentages of the shares voted. Final vote results will be filed in a Form 8-K.

Safeway Inc. is a Fortune 100 company and one of the largest food and drug retailers in North America based on sales. The company operates 1,692 stores in the United States and western Canada and had annual sales of $41.1 billion in 2010.

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    Christiane Pelz