MONTVALE, NJ – November 21, 2003 – The Great Atlantic & Pacific Tea Company, Inc. (A&P) said today that it has completed the previously announced sale of its Eight O’Clock Coffee division to Gryphon Investors, a San Francisco based private equity firm, for cash and a note.

The Company realized proceeds of $107.5 million and received a contingent Note for up to $20 million, the value and payment of which is based on certain elements of the future performance of the Eight O’Clock business.

The Company said that Lehman Brothers served as financial advisor for the transaction.

Founded in 1859, A&P was one of the nation’s first supermarket chains, and is today among North America’s largest. The Company operates 643 stores in 11 states, the District of Columbia and Ontario, Canada under the following trade names: A&P, Waldbaum’s, The Food Emporium, Super Foodmart, Super Fresh, Farmer Jack, Sav-A-Center, Dominion, The Barn Markets, Food Basics and Ultra Food & Drug.

For Financial Questions Contact William Moss, Vice President, Treasurer 201-571-4019

For Non-Financial Questions Contact Richard DeSanta Vice President, Corporate Affairs 201-571-4495

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