Pathmark in Discussions with A&P

  
    
  
  
    
      Pathmark Stores, Inc. (Nasdaq: PTMK) today announced that it is engaged 
      in negotiations to be acquired by The Great Atlantic & Pacific Tea 
      Company, Inc. (NYSE: GAP) at a possible price of $12.50 per Pathmark 
      share to be paid in cash and A&P stock. No final agreement has been 
      reached and there can be no assurance that any such agreement will be 
      reached. If a final agreement is reached, it will be subject to a number 
      of uncertainties and conditions. Among such conditions would be 
      shareholder and regulatory approvals, including Federal and State 
      antitrust clearances.
    
    
      Pathmark Stores, Inc. is a leading regional supermarket chain currently 
      operating 141 supermarkets primarily in the New York – 
      New Jersey and Philadelphia metropolitan areas.
    
    
      Except for historical information contained herein, the matters 
      discussed in this release are “forward-looking 
      statements” within the meaning of the Private 
      Securities Litigation Reform Act of 1995. Such statements relate to, 
      among other things, the status of merger negotiations and the 
      uncertainty surrounding whether or not a final agreement will be reached 
      and are indicated by words or phrases such as “anticipates”, 
      “believes”, “expects”, 
      “forecasts”, “guidance”, 
      “intends”, “may”, 
      "ongoing", “plans”, 
      “projects”, “will” 
      and similar words and phrases. By their nature, such forward-looking 
      statements are subject to risks, uncertainties and other factors, which 
      are, in many instances, beyond our control, that could cause actual 
      results to differ materially from future results expressed or implied by 
      such forward-looking statements. These statements are based on management’s 
      assumptions and beliefs in the light of information currently available 
      to it and assume no significant changes in general economic trends, 
      consumer confidence or other risk factors that may affect the 
      forward-looking statements. The Company expressly disclaims any current 
      intention to update the information contained herein. Factors that may 
      affect results include changes in business and economic conditions 
      generally and in the Company’s operating 
      areas, the competitive environment in which the Company operates, 
      results of our merchandising, operating and cost reduction initiatives, 
      medical and pension costs and other risks detailed from time to time in 
      the Company’s reports and filings available 
      from the Securities and Exchange Commission. You should not place undue 
      reliance on forward-looking statements, which speak only as of the date 
      they are made.