MONTVALE, NJ, July 31, 2002: – The Great Atlantic & Pacific Tea Company, Inc. (A&P, NYSE Symbol: GAP) today transmitted for filing an amendment to its Form 10-K for the fiscal year ended February 23, 2002 to correct the classification of income between its United States Retail operations and its Canada Retail operations. The shift is due to the recognition that certain multi-year vendor allowance contracts relate to the Canada Retail Operating segment, as opposed to the U.S. Retail operating segment. The change has no impact on total Company net income.

This release contains forward-looking statements about the future performance of the Company, which are based on Management’s assumptions and beliefs in light of the information currently available to it. The Company assumes no obligation to update the information contained herein. These forward-looking statements are subject to uncertainties and other factors that could cause actual results to differ materially from such statements including, but not limited to: competitive practices and pricing in the food industry generally and particularly in the Company’s principal markets; the Company’s relationships with its employees and the terms of future collective bargaining agreements; the costs and other effects of legal and administrative cases and proceedings; the nature and extent of continued consolidation in the food industry; changes in the financial markets which may affect the Company’s cost of capital and the ability of the Company to access capital; supply or quality control problems with the Company’s vendors; and changes in economic conditions which affect the buying patterns of the Company’s customers.

For questions, call Richard P. De Santa
Vice President, Corporate Affairs
(201) 571-4495

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